US President Donald Trump’s social media posts on Truth Social have significant market impact, influencing stocks, commodities, and currencies within seconds. Recognizing this, the Trump Media & Technology Group (TMTG), which owns Truth Social, launched a premium data service called the Truth Social API earlier in August 2026. This service offers subscribers, including at least five trading firms, early access to Trump’s posts milliseconds before they are publicly available, with subscription costs ranging from $US60,000 to $US100,000 per month (approximately $AU84,930 to $AU141,550), according to Reuters and The Wall Street Journal.

Researchers from Queensland University of Technology (QUT) analyzed market activity over a 73-day period and found 15 instances where oil markets moved before Trump’s posts on the topic, including one case with a sudden flurry of oil market activity about 20 minutes prior to a post. This has raised concerns about potential insider trading, as early access to such impactful information could provide a significant advantage to high-frequency traders, who are the only groups likely able to afford the premium service.

Experts note that while gaining even a fraction of a second advantage can be useful, the ethical and legal issues arise when there is an information advantage. Some critics argue the premium service may be less about a legitimate business venture and more about funneling money to Donald Trump. Meanwhile, shares in the Truth Social parent company have reportedly fallen by 75% since Trump returned to office last year, according to the Associated Press.

Quotes from the coverage include:

  • "The only groups that are going to afford to subscribe to that service, and get a genuine advantage out of it, are high-frequency traders."
  • "Getting even the slightest advantage, even when it comes down to just fractions of a second, can be useful."
  • "The whole thing was set up not as a legitimate business, but potentially as a way to funnel money to Donald Trump rather than any serious money-making venture in the first place."
  • "If you're paying for speed rather than information, then that's fine."
  • "The insider trading concern comes when you have an information advantage."

This development highlights ongoing debates about market fairness and the role of social media in financial markets.

Sources