On August 1, Trump Media & Technology Group launched a premium version of Truth Social in the form of “Truth API,” which allows early access to Truth Social content for a fee of $100,000 a month.
This is likely illegal. Federal securities law prohibits the use of non-public information to give an advantage to certain traders. A professor and former top Securities and Exchange Commission (SEC) official, Renée Jones, suggested that Trump violated “his duty of trust and confidence,” and that the companies exploiting insider knowledge are running afoul of the law too by using illicit information. Trump is also violating the 2012 Stock Act, which forbids the President from trading based on insider information. Truth Social may also be in legal jeopardy for combining announcements of government policy with monetized access to trading information.
Trump promoted twenty companies on Truth Social days after buying their stock. On April 15, 2025, he promoted Nvidia on Truth Social, days after purchasing hundreds of thousands of dollars worth of stock. Insider trading is just one of many ways in which Trump has profited from the Presidency.
