Publicly selling insider information? Trump’s Truth Social launches paid API for Wall Street, delivering Trump’s posts in “milliseconds.”

Trump’s media company is turning the president’s social media posts into a business. Trump Media & Technology Group (TMTG) announced Thursday that it plans to launch a real-time data product called "Truth API" on August 1, selling direct data streams of Truth Social platform posts to investment institutions, targeting mainly algorithmic trading firms. The company stated that buyers have already expressed intent to purchase, but did not disclose their identities. TMTG interim CEO Kevin McGurn said in a statement, "The market is already fluctuating with Truth Social posts." The Truth API will provide direct, authorized, real-time data streams of the platform’s most market-influential posts, advancing the company's strategy to monetize its proprietary assets through high-margin, recurring revenue streams. He expects this product to become a “meaningful, sustainable source of revenue and create lasting value for shareholders.” The launch of this new product has also sparked outside legal and ethical questions regarding whether government officials can monetize their official actions. The news failed to boost the company’s stock price. As of press time, TMTG shares were down 8.4% midday Friday. The market value of Trump’s posts drives the launch of the new product The core attraction of the Truth API lies in Trump’s own posts. Since Truth Social launched in February 2022, Trump has used it as his primary channel for direct written communication. During his second term, Trump has announced dozens of major policy changes or military actions via the platform, with related posts often triggering notable stock market fluctuations. For algorithmic trading firms, where millisecond-level information advantages are of immense commercial value, such data streams have direct trading applications. Application programming interfaces (APIs) are widely used in tech and finance for data distribution; government departments such as the Labor Department and social media platform X have already offered similar products. TMTG describes Truth API in its announcement as a "high-margin, recurring revenue stream," but did not disclose pricing details. Conflict of interest controversy emerges The core dispute sparked by this business model is: Can government officials privately monetize the informational value generated by their official actions? Tyler Gellasch, former SEC attorney and head of financial nonprofit Healthy Markets Association, said the market’s demand for faster access to Trump’s posts is clear, but "the real question is, when it comes to any type of government official, can they themselves monetize this value?" Trump indirectly holds about 53% of TMTG shares through a trust. The trust is managed by his eldest son, Donald Trump Jr., and was established in December 2024, a month before Trump officially took office, as concerns about potential conflicts of interest continued to intensify. As of Thursday’s close, the value of Trump’s holdings exceeded $1 billion. TMTG accelerates diversified business expansion Truth API is one of a series of recent diversification attempts by TMTG. The company has previously ventured into streaming media and cryptocurrency and last year entered into a merger agreement with a nuclear fusion company—this move would put the president’s company in competition with other developers, while the fusion energy sector is under the dual influence of Trump administration policy support and regulation. Truth Social’s user growth remains limited, and the company overall is still operating at a loss, with its main traffic source relying on Trump’s posts. Kevin McGurn described Truth API as part of the strategy to commercialize "proprietary assets," but this positioning itself—defining the current president’s public statements as sellable "proprietary assets"—is exactly the focus of public skepticism. Risk warning and disclaimer The market has risks; investment requires caution. This article does not constitute personal investment advice and does not take into account individual users’ special investment objectives, financial situations, or needs. Users should consider whether any opinions, viewpoints, or conclusions in this article fit their particular circumstances. Investments based on this article are at your own risk.