By Rajwa Quasim
As Trump Media and Technology Group’s (TMTG) Truth API goes live, the criticisms and speculations surrounding the service has increased with Wall Street firms uncertain on the announced API initiative. Trump Media is now charging Wall Street firms up to $1.2 million a year for the service.
Truth API, launched on Aug. 1, will allow subscribed Wall Street firms access to posts by the most followed account milliseconds prior to the rest. According to the sources familiar with the matter, this paid service will cost around $60,000 to $100,000 per month. Customers seeking a broader range of accounts could pay more.
For years, Truth Social has been losing money than making a reasonable profit. But the recent numbers show that the company is delivering profits with critics said that Trump is using his presidential power for personal gain in his second term. Especially when Trump’s posts have frequently influenced financial markets and would likely continue to do so. He uses his own platform to announce tariffs, foreign policy, military action, and other government decisions. On March 23, Trump announced postponing strikes on Iranian energy infrastructure which resulted in Brent Crude falling up to 11%.
Read: Trump Media pitches premium Truth Social data feed (July 19, 2026)
In October 2025, Trump had threatened to impose new tariffs on China which led S&P 500 down of 2.7%. The announcement, which came just days after the launch of Truth API, sent oil prices down as much as 5% after Trump said he was canceling planned military action against Iran.
The development has renewed scrutiny of the relationship between Trump’s public office and his business interests, as he remains the largest shareholder of TMTG, owning about 41.5% of the company. Since the launch of Truth API, TMTG shares have risen about 7%. The company reported revenue of $3.68 million in 2025, while it generated $871,000 in revenue during the first quarter of 2026. Trump’s second term has also become the most profitable period of his business career, with reports estimating he earned more than $2.2 billion in 2025 through cryptocurrency ventures, legal settlements and other business deals.
As per The Wall Street Journal, at least five clients have signed up for API services including financial news organizations and high-frequency trading firms.
Read: Trump Media launches Truth Social data service for businesses (July 16, 2026)
“The president’s company selling prioritized access to the president’s market-moving posts is corrupt and erodes public confidence,” said Senator Mark Warner as he introduced legislation to ban the practice altogether on Monday.
Congressional Democrats have asked the Office of Government Ethics, Securities and Exchange Commission (SEC), and Commodity Futures Trading Commission (CFTC) to investigate whether the service creates conflict of interest or enables market manipulation.
What the customers are really buying isn’t the content itself, but the timing. A TMTG spokesperson told Axios: “Senate and House Democrats continue to mischaracterize Truth API either out of ideological opposition to free markets or a failure to grasp the distinction between public and nonpublic information.” The company said that all posts are public, and what it sells is the time between publication and widespread awareness.
Separate investigations are already examining suspiciously timed trades ahead of Trump’s tariff and Iran announcements, including a former White House teleprompter operator accused of using advance access to speeches for prediction market bets.