● Covered by 1 source · 1 reportLow impact1 negative
San Francisco sues Trump Media over early access to Trump posts on Truth Social
Key points
- San Francisco sued Trump Media & Technology Group.
- Lawsuit alleges "Truth API" sells early access to Trump's posts.
- Service charges $100,000 monthly for access to 10 influential accounts.
- City claims the practice facilitates insider trading and violates laws.
Lawsuit Filed Against Trump Media
San Francisco has initiated legal action against Trump Media & Technology Group, the company behind Truth Social. The lawsuit, filed in California state court, targets the company's "Truth API" service, which offers paid early access to posts from influential accounts on the platform, including those of Donald Trump and other White House officials.
Allegations of Insider Trading
The city alleges that the Truth API feed constitutes a "corrupt business scheme" that violates California’s Unfair Competition Law and federal ethics and anti-corruption statutes prohibiting insider trading. The complaint argues that Trump Media is unlawfully profiting by enabling the use of nonpublic information for private gain, particularly given the market-moving potential of Trump's announcements.
Truth API Service Details
Truth API charges select customers $100,000 per month for early access to the 10 most influential accounts on Truth Social. Trump Media's interim CEO, Kevin McGurn, acknowledged the market impact of Truth Social posts when announcing the service. The lawsuit cites an example where a Trump post about lowering ground beef prices led to a significant decline in cattle futures hours later.
Financial Motivation Claimed
The San Francisco lawsuit suggests that Truth API is a strategy to make the financially struggling Trump Media profitable. The company reported a net loss of over $238 million earlier this year. The city's complaint frames the service as turning public trust into private property through this business model.
✨ This summary was generated by AI from the outlets' reporting listed below. It is not independently verified and may contain errors — check the original sources. How BrevFeed works →
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Reporting from
San Francisco has filed a lawsuit against Trump Media & Technology Group, the parent company of Truth Social, alleging that its "Truth API" service facilitates insider trading by selling early access to influential posts, including those from Donald Trump. The city claims this scheme violates California's Unfair Competition Law and federal ethics laws, citing examples where Trump's posts impacted markets.