President Donald Trump was sued in federal court Wednesday over a new Trump Media service that offers paying customers faster access to his Truth Social posts, including statements that could affect financial markets.
The lawsuit, filed in the Southern District of New York, seeks to stop Trump and Trump Media & Technology Group from providing paying subscribers with preferential access to posts involving US policy.
The Freedom of the Press Foundation and news organization The Intercept filed the lawsuit, arguing that the arrangement violates the First and Fifth Amendments.
Trump Media recently launched Truth API, a subscription service that provides customers with rapid, machine-readable access to posts made on Truth Social.
The service is marketed in part to Wall Street firms seeking immediate access to potentially market-moving information and can cost as much as $100,000 per month, according to the Associated Press.
The plaintiffs argue that Trump’s use of Truth Social for announcements involving tariffs, wars and other government policies means subscribers could receive valuable official information before members of the general public.
They contend that presidential announcements should instead be available to the press and public on equal terms.
“A president selling priority access to news he himself generates for the benefit of a private company he controls is so blatantly corrupt and unconstitutional that it would have been hard to even fathom just a few years ago,” Freedom of the Press Foundation Chief of Advocacy Seth Stern said.
The lawsuit’s allegations have not been adjudicated, and no court has ruled that Trump or Trump Media violated the Constitution.
Trump Media rejected the accusations and argued that paid access to data through application programming interfaces, or APIs, is common.
“Information from President Trump is disseminated by countless platforms and news outlets, many of which offer subscription APIs,” the company said.
Trump Media accused the plaintiffs of attempting to use the courts to censor Trump and damage the company’s shareholders.
The dispute also involves a separate arrangement between Trump and Trump Media that gives Truth Social six hours of exclusive access to his posts before they can be distributed elsewhere.
The plaintiffs are asking the court to stop Trump from exclusively posting official government information on Truth Social in addition to seeking an end to the paid Truth API service.
The lawsuit argues that the arrangements violate the First Amendment by denying members of the press and public equal access to presidential communications.
It also alleges a Fifth Amendment violation based on what the plaintiffs characterize as unreasonable conditions imposed on access to a government benefit.
The complaint argues that the financial implications are particularly significant because some of Trump’s statements can immediately affect markets.
Trump regularly uses Truth Social to announce or discuss administration policies, including tariffs and other economic measures.
The plaintiffs allege that allowing paying customers to obtain those statements faster could give traders an advantage over people relying on ordinary public access.
Trump Media, however, maintains that its service operates similarly to other subscription data products offered throughout the technology and financial industries.
The company has reportedly signed up more than 10 customers for Truth API since launching the service.
The lawsuit comes as Trump Media continues efforts to expand beyond its core Truth Social platform and develop additional sources of revenue.
The publicly traded company has sustained substantial financial losses, while its stock has fallen considerably from levels reached shortly after it went public, according to the AP.
The case also adds to continuing scrutiny over the intersection between Trump’s presidency and his private business interests.
Critics have previously raised concerns about Trump’s cryptocurrency ventures and other businesses, while Trump and his allies have rejected accusations that he is improperly profiting from the presidency, per the New York Post.
In addition to Trump, the lawsuit names White House deputy chief of staff Daniel Scavino and presidential executive assistant Natalie Harp as defendants.
The plaintiffs are seeking a court order ending the Truth API paid-access arrangement as well as Trump’s agreement providing Truth Social with exclusive access to certain posts.
