Selling early access to Trump Truth Social posts is illegal, ex-prosecutors say
Trump Media & Technology recently launched a Truth Social API data feed, charging $100,000 for "real-time access to posts from the highest-ranking Truth Social accounts."
A coalition of 53 former federal prosecutors and agents has argued in a court filing that President Trump's media company is likely engaging in federal crimes by selling Wall Street investors privileged access to his Truth Social posts. The group's proposed amicus brief supports the lawsuit brought by The Intercept and the Freedom of the Press Foundation, seeking a preliminary injunction to halt the transmission of early access to President Trump's posts.
The former law enforcement officials contend that the Truth API data feed, which charges $100,000 for real-time access to high-ranking posts, is unconstitutional and violates constitutional rights, federal laws, and ethics codes. They argue that the business model of selling early access to market-moving information likely violates insider trading laws, illegal gratuities laws, conflicts of interest laws, and trade secrets laws.
The brief cites a hypothetical scenario in which President Trump announces a tariff on computer chips at 11 a.m., and paid subscribers gain access to the news at 9 a.m., then sell the stocks before the public announcement at 10 a.m. The prosecutors assert that the scheme could lead to criminal liability for officials and subscribers alike.
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