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The Freedom of the Press Foundation and news outlet The Intercept filed a federal lawsuit Wednesday challenging a subscription service that provides Wall Street traders early access to President Donald Trump’s market-sensitive posts on Truth Social. The service, operated by Trump Media and Technology Group, charges subscribers between $60,000 and $100,000 monthly for early access to posts from accounts with large followings, including Trump’s account with 13 million followers.
Trump’s deputy chief of staff Daniel Scavino and executive assistant Natalie J. Harp are also named as defendants in the New York federal court filing. The plaintiffs argue the Truth API service, launched August 1, violates the Constitution by restricting information that should be available to the public simultaneously. The lawsuit seeks to prevent Trump’s White House from posting official government announcements exclusively on Truth Social.
The plaintiffs contend the arrangement violates First Amendment protections guaranteeing equal access to presidential communications and Fifth Amendment prohibitions against unreasonable conditions for government resources. A separate agreement grants Truth Social six hours of exclusive access to Trump’s posts before they can be shared elsewhere.
Seth Stern, chief of advocacy at the Freedom of the Press Foundation, stated that while Trump has the right to speak freely, “he can’t sell access to official statements through a private business while he uses his public office to undermine the Freedom of Information Act, the Presidential Records Act and virtually every other mechanism for transparency.”
Kevin McGurn, interim CEO of Trump Media and Technology Group, defended the service in a statement, saying the Truth API delivers a direct, real-time feed of market-moving posts while building recurring revenue. The feed provides 24/7 coverage with a historical archive dating back to 2022 and operates within milliseconds of publication.
Legal experts note Trump’s 40 percent ownership stake in Trump Media strengthens the plaintiffs’ argument that the arrangement serves private financial interests rather than a legitimate government purpose. Kaivan Shroff, a media expert, told Fox News Digital the ownership stake makes the private financial benefit “much harder to dismiss as merely incidental.”
However, former state attorney Dave Aronberg cautioned that Trump’s ownership alone may not be decisive in court. The central constitutional question, he explained, is whether the First Amendment requires essentially simultaneous access to presidential communications or merely prevents the government from excluding particular news organizations.
Public relations strategist Jason Mudd argued the subscription service raises significant ethical concerns about public trust in government. “Charging for faster access to a public official’s statements tells citizens their government may not be working in their interest,” he said, recommending Trump Media establish distance between the president’s financial interests and any product based on access to him.
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