In a recent update the U.S. President Donald Trump, along with key administration officials, has been hit with a federal lawsuit in New York over a controversial subscription service introduced by his media company, Trump Media & Technology Group (TMTG).
As reported by Reuters, the lawsuit was filed in the U.S. District Court for the Southern District of New York by news outlet The Intercept and the Freedom of the Press Foundation.
The legal action targets Truth API, a data-feed subscription service launched by Truth Social that charges Wall Street firms and institutional traders anywhere from $60,000 to $100,000 a month for near-instant, early access to high-profile posts including those from President Trump.
The plaintiffs argue that the arrangement is “profoundly corrupt and unconstitutional. “The suit alleges violations of the First Amendment by denying the general public and the traditional press equal access to official presidential announcements and policy statements on matters such as tariffs and foreign conflicts.
Additionally, the plaintiffs allege that the arrangement violates the Fifth Amendment by imposing unreasonable conditions or paywalls on access to government-generated information.
As President Trump is the majority shareholder of Trump Media, the plaintiffs contend that he stands to personally profit by selling market-moving government information to high-paying private subscribers.
Trump Media’s Stance:
Representatives for Trump Media & Technology Group dismissed the lawsuit, framing it as an attempt by “left-wing activists” to censor the president and harm company shareholders.
Executives defended the API feed by noting that selling real-time public data and licensed subscription feeds is a common commercial practice across tech, media, and financial sectors.
The lawsuit follows broader prior criticism and calls from congressional Democrats for Securities and Exchange Commission (SEC) investigations into whether the fast-access financial data feed undermines market integrity.
