Trump Media, also known as TMTG, recently launched a paid, licensed data feed called Truth API, which offers trading firms the fastest access to posts from the 10 most influential accounts on Truth Social, including those of former US President Donald Trump. The company has reportedly discussed charging up to $100,000 per month for this service.

On Tuesday, July 28th, 2026, United States Democratic Senators Elizabeth Warren and Adam Schiff sent a letter to Securities and Exchange Commission (SEC) Chairman Paul Atkins requesting an investigation into whether this sale of early access to Trump’s social media posts breaks the law. The senators expressed concern that this practice could represent an abuse of the President’s office for personal gain, potentially undermining everyday investors and market integrity while benefiting Wall Street and wealthy insiders.

The letter also highlighted that Trump has previously used Truth Social to endorse specific stocks such as Citigroup, Intel, and Palantir, raising risks of insider trading and damaging investor confidence in a fair market.

A spokesperson for TMTG responded via email, stating that Senate Democrats are mischaracterizing the Truth API either due to ideological opposition to free markets or misunderstanding the difference between public and nonpublic information.

Industry sources have indicated that the letter increases legal, political, and regulatory risks for the product and any Wall Street firms that may have purchased the feed. Additionally, Trump reported earning over $1.4 billion last year from family crypto projects, including an Official Trump memecoin, which critics allege is used to sell access to the president and could facilitate bribery.

Sources