Trump sued over sale of access to Truth Social posts

Two US media groups sue Trump over paid early access to Truth Social posts. Photo / AFP

Two US media groups are suing President Donald Trump over his move to charge for early access to his often market-moving Truth Social posts.

A lawsuit, filed in New York by The Intercept and Freedom of the Press Foundation, states that the scheme is “extraordinary, corrupt and unconstitutional”.

The billionaire Republican often uses the platform to announce huge news, ranging from developments in the Iran war to trade tariffs, all of which can instantly send market values tumbling or soaring.

Early access to the service can cost up to US$100,000 ($170,721) a month, or US$60,000 a month if users commit to three years, according to Wednesday’s lawsuit.

“This scheme is profoundly corrupt. The President stands to gain financially by giving ‘market-moving’ government information to those who are willing and able to pay his personal company,” a court filing says.

Trump Media & Technology Group, the company running the platform, has dismissed concerns over the product, which is called Truth API and was first unveiled in mid-July.

The Intercept, a nonprofit US news outlet, and Freedom of the Press Foundation, which operates a database tracking Truth Social posts, argue that the paid service hinders their ability to properly cover Trump.

“Timely access to the President’s posts is critical for both groups,” the filing states, asking the court to declare Truth API as unlawful and block future posts.

Several Democratic lawmakers have called for a probe into the service by the Securities and Exchange Commission, which regulates US markets.

Trump Media interim CEO Kevin McGurn said this week that Truth API is already generating revenue with 10 customer agreements signed, though he did not identify the clients.

On Monday, Trump Media posted a tenfold jump in losses for the second quarter of 2026, linked to declines in values of its digital assets.

Trump, like his close relatives, is alleged to have made billions of dollars in his second White House term through cryptocurrency ventures, property deals, stock trades and payouts from lawsuits.

Forbes, a financial media outlet, has estimated that Trump’s net worth shot up from US$2.3b to US$6.5b since 2024, when he won the election over Kamala Harris.

Source: Read the original article on www.nzherald.co.nz