See Trump's posts first? Media groups sue over Truth Social’s paid access

The media firm TMTG, owned by former US President Donald Trump, is currently facing a legal challenge from press groups in response to their new Truth Social service called Truth API. This service provides paying customers early access to Trump's social media posts, sparking controversy over its potential impact on government information and the media landscape.

The lawsuit, filed by The Intercept Media and the Freedom of the Press Foundation, seeks to halt Trump from using Truth Social to publish official government information exclusively, while allowing investors to pay for privileged access to his posts. The plaintiffs argue that Truth API is "profoundly corrupt" and unconstitutional, as it could potentially give "market-moving" government information to those who are willing and able to pay Trump's personal company.

The lawsuit names Trump and two senior advisers as defendants, claiming that the President stands to gain financially by providing "market-moving" government information to those who can afford to pay for access. TMTG has defended the paid access service, stating that it delivers Trump's posts to customers "milliseconds" before they become available to the public. The company has promoted Truth API to trading firms and other Wall Street businesses, charging up to $100,000 per month for the service.

The Intercept and FPF have noted that they regularly cover Trump's social media activity but often face "delayed access" to announcements, which could hinder their ability to report accurately on the President's statements. Additionally, they argue that they could be permanently barred from accessing archived posts, making their work more difficult.

TMTG has encouraged the lawsuit's plaintiffs to think of it as "just another API" and not a weapon being used by leftwing activists to censor Trump again. The company's interim CEO, Kevin McGurn, revealed that around 10 groups have already signed up for Truth API, paying between $60,000 and $100,000 per month. McGurn also mentioned that the company is working on expanding Truth API for retail investors and has been in "active conversations" with hyperscalers, large news organizations, and developers of large language models.

The legal challenge comes amid TMTG's continued expansion of the paid service to provide access to Trump's posts. Meanwhile, TMTG's shares have fallen more than 6% on Wednesday, as the company reported a $238 million loss in the second quarter of the year.