NEW YORK: Trump Media & Technology Group (TMTG), the company behind Truth Social, is reportedly planning to charge Wall Street firms up to $100,000 per month for premium access to President Donald Trump’s social media posts, a move that has ignited political and ethical controversy.

According to sources familiar with the discussions, the company has also proposed a discounted three-year subscription plan costing $60,000 per month, offering investment firms and high-frequency traders faster access to market-moving posts published on the platform.

Truth API targets financial institutions

TMTG officially unveiled its new licensed data service, Truth API, on Thursday. The subscription-based platform is designed to provide banks, hedge funds, trading firms, and financial institutions with the fastest possible access to posts from the 10 most influential Truth Social accounts.

Although the company did not disclose pricing, sources told Reuters that premium subscriptions could cost as much as $100,000 monthly.

The service is scheduled to launch on August 1 and will include:

• Real-time delivery of posts
• 24/7 monitoring of key Truth Social accounts
• Historical archive of posts dating back to 2022
• Licensed data feed for institutional users

TMTG said it has already secured customers but did not identify them.

Why speed matters on Wall Street

Financial markets increasingly react within seconds to statements made by political leaders.

High-frequency trading firms rely on ultra-fast data feeds, where a speed advantage of even a few milliseconds can generate substantial profits during volatile market movements.

One notable example occurred on April 9, 2025, when US stock markets surged after President Trump announced on Truth Social that he would pause several planned tariffs for 90 days.

The rapid market reaction highlighted the financial value of gaining earlier access to presidential announcements.

Democrats criticize the plan

The proposal has drawn sharp criticism from Democratic lawmakers and ethics watchdogs.

Senator Ron Wyden, the ranking Democrat on the Senate Finance Committee, argued that the service could financially benefit the Trump family while allowing Wall Street firms to profit from privileged access.

Similarly, Senator Elizabeth Warren described the proposal as:

“An egregious scheme to profit off the presidency and enrich Wall Street while doing nothing to help Americans.”

The White House referred questions about the criticism to Trump Media, which has not publicly responded.

Ethics experts raise concerns

Government ethics experts say the proposal raises significant concerns because President Trump remains the primary market-moving figure on Truth Social.

According to regulatory filings, the Donald J. Trump Revocable Trust owns approximately 41% of Trump Media, with Trump’s children overseeing the trust while the president remains its financial beneficiary.

Donald Sherman, president of the watchdog organization Citizens for Responsibility and Ethics in Washington (CREW), called the arrangement “wildly unethical,” arguing that investors would effectively be paying for faster access to presidential communications.

However, legal experts note that current US insider trading laws and constitutional emoluments clauses may not clearly prohibit such an arrangement because the information would still be distributed to multiple paying subscribers rather than a single private recipient.

New revenue strategy for Trump Media

Truth API represents Trump Media’s first major move into the commercial data licensing business as the company seeks to diversify revenue beyond social media advertising.

The company has faced stiff competition from larger platforms, and its stock has struggled throughout the year.

Shares of Trump Media & Technology Group have fallen approximately 27% in 2026, closing Friday at $9.66, giving the company a market capitalization of around $2.7 billion.

Industry analysts say the success of Truth API could determine whether the company can establish a sustainable new business model centered on financial data services.