President Donald Trump displayed a copy of his Truth Social post about Air Force One to the media on Air Force One on July 8, 2026. His media company is enticing investors with early access to his Truth Social feed, charging up to $100,000 monthly. This raises ethical and legal concerns.
Critics claim the president learned not to leave money on the table during his first term, even as he amassed $2 billion, mainly from cryptocurrency ventures. His Truth Social platform’s latest offer stands out. Trump Media & Technology Group seeks traders and investors for a premium version of Truth Social, granting early access to feeds from notable users, including Trump himself.
Starting Saturday, trading firms can access “Truth API” for a fee. This provides early insights into Trump’s market-changing announcements on economic policy and global affairs. Customers are reportedly signing up. This gives institutional investors an edge, especially in high-frequency trading, where milliseconds can mean millions of dollars. However, its widespread adoption on Wall Street is uncertain.
“It’s insane,” stated a Wall Street executive, fearing retaliation from the Trump administration. “I can speak for myself and 200 finance colleagues; we’ll avoid this. In another administration, it’d be deemed criminal.”
NPR contacted 12 major financial players, including brokers and hedge fund managers. None discussed it publicly. Some feared targeting by Trump. Former SEC official Renée Jones highlighted legal issues.
Jones, a Boston College professor and former SEC official, argued the offering seems illegal. The paid offer might breach insider trading laws. Federal laws prohibit schemes using non-public information for unfair trading advantage, breaching “a duty or trust of confidence.”
Jones said monetizing Trump’s Truth Social posts and offering special access misuses information, violating trust. Social media companies often sell data access, but given Trump’s policy announcements on Truth Social, legal issues could arise.
Jones referenced the 2012 Stock Act, prohibiting executive branch members, including presidents, from trading stocks using privileged information. Trump’s lawyers might argue openness exempts it from deceit or fraud.
Shannon Devine, Trump Media & Technology Group spokeswoman, stated early access doesn’t equate to insider trading. “Truth API enables rapid ingestion of publicly available Truth Social data. Critics must imagine an ‘insider trading’ theory from public information,” Devine claimed.
Democratic Senators demand SEC investigation. Senators Elizabeth Warren and Adam Schiff requested the SEC probe Truth API’s legality in a Wednesday letter, labelling it “an outrageous abuse of the President’s office for his personal benefit” and market integrity undermining.
The SEC declined comment. Devine dismissed the letter as partisan. “Some politicians falsely accuse us of anti-free-market behavior, pressuring boycotts to harm a public company,” Devine said.
Trump, through a trust managed by his eldest son Donald Trump Jr., is the largest shareholder of his media company. Trump family wealth increases as customers subscribe to Truth API. This example shows the president blending public office and business.
Virginia Canter, former SEC lawyer with Democracy Defenders Fund, criticized the API. “Channeling nonpublic information to Trump’s media company for wealthy investors undermines U.S. market integrity,” Canter stated. It erodes investor confidence and disadvantages regular investors lacking similar information access.
The anonymous Wall Street executive questioned the president’s ability to monetize the presidency. “I don’t agree,” the executive stated. “But will investment banks risk confronting it? Probably not.”