Driving the news: Trump Media & Technology Group launched Truth API on Aug. 1, offering financial firms near-instant access to Truth Social posts for up to $100,000 per month. At least five firms have signed up, according to Truth Social.
Why it matters: Markets had previously relied on manual monitoring of the platform to track the president's policy announcements — on the Iran war, energy, tariffs and more. The API formalizes what traders were already doing and turns it into a recurring, high-margin revenue stream.
What they're saying: 'Markets already move on Truth Social posts,' interim CEO Kevin McGurn said. 'Truth API delivers a direct, licensed, real-time feed of the platform's most market-moving Truths while advancing our strategy to monetize proprietary assets.'
The pushback: Democratic Sens. Elizabeth Warren (D-MA) and Adam Schiff (D-CA) urged the SEC to investigate or ban the product, calling it 'an outrageous abuse of the President's office for his personal benefit.' Sen. Mark Warner (D-VA) separately wrote to major financial trade groups urging them to reject the service.
A Trump Media spokesperson fired back, saying Democrats are mischaracterizing Truth API 'out of ideological opposition to free markets or a failure to grasp the distinction between public and nonpublic information.'
The bottom line: Truth API is a textbook free-enterprise move — packaging a public information feed into a licensed product. The Democratic outrage, however loud, is unlikely to slow a service that simply sells faster access to already-public posts.