A legal complaint has been filed against a premium data feed offered by Truth Social, arguing that the service, which costs subscribers between $60,000 and $100,000 per month, improperly privatizes official government communications. The lawsuit names US President Donald Trump, deputy chief of staff Dan Scavino, executive assistant Natalie Harp, and the Executive Office of the President as defendants. Plaintiffs, including The Intercept and the Freedom of the Press Foundation, contend that the arrangement is profoundly corrupt and violates both the First and Fifth Amendments by restricting equal access to presidential announcements.
The service targets the platform's 10 most-followed accounts, which include President Trump, the White House, Vice President JD Vance, FBI Director Kash Patel, and Health Secretary Robert F. Kennedy Jr. Interim CEO Kevin McGurn noted during an earnings call that subscribers receive news fractionally faster than the general public, a feature primarily marketed to high-frequency trading firms. More than 10 customers have reportedly signed up for the feed. Critics highlight that many of the 9,000 to 11,000 posts made by President Trump since January 2025 were not accompanied by formal White House statements, yet were still monetized through this exclusive channel.
Ben Muessig, editor-in-chief of The Intercept, stated that the president is attempting to enrich himself by privatizing government information. In response, a spokesperson for Trump Media dismissed the criticism, claiming activists are weaponizing the courts and failing to distinguish between public and nonpublic information. President Trump currently holds approximately 41% of the company through a trust managed by his son, Donald Trump Jr., with that stake valued at nearly $1 billion.
Concerns regarding the service have persisted for months, following reports of unusual activity in futures markets just minutes before significant announcements appeared on the president’s account. One notable example occurred on 23 March, when the S&P 500 and oil futures experienced volume spikes at 6:50 am, fifteen minutes before President Trump announced that talks with Iran had taken place and strikes on energy infrastructure were paused. Equity futures rose by more than 2.5%, while West Texas Intermediate dropped nearly 6%. An analysis by the Queensland University of Technology identified 15 episodes between late January and early April that raised suspicions of potential insider trading, though no formal investigation has reached a conclusion. The White House has not yet commented on the lawsuit, which follows a request from US Senators Elizabeth Warren and Adam Schiff for the Securities and Exchange Commission to investigate the potential impact on market integrity.
