Donald Trump faces lawsuit regarding transactions for exclusive content on his platform Truth Social

A lawsuit was filed on Wednesday by two US media groups, The Intercept and Freedom of the Press Foundation, against President Donald Trump, challenging his decision to charge for early access to his Truth Social posts, which often have a significant impact on the market.

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The lawsuit, filed in New York, claims that the scheme is "extraordinary, corrupt and unconstitutional" and allows subscribers to receive Trump's messages almost instantly, giving them a crucial advantage over the general public.

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Trump frequently uses the Truth Social platform to announce major news, including developments in the Iran war and trade tariffs, making early access to his posts highly valuable.

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The cost of early access to Trump's posts can be as high as $100,000 per month, or $60,000 per month for a three-year commitment, according to the lawsuit filed on Wednesday.

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A court filing states that the scheme is "profoundly corrupt" and allows the President to financially benefit from providing "market-moving" government information to those who pay his company.

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Trump Media & Technology Group, the company operating the platform, has dismissed concerns over the product, known as Truth API, which was launched in mid-July.

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The Intercept, a nonprofit US news outlet, and Freedom of the Press Foundation argue that the paid service hinders their ability to cover Trump, with the filing stating that "timely access to the president's posts is critical for both groups".

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The groups are asking the court to declare Truth API unlawful and block future posts, citing the need for equal access to the President's statements.

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Several Democratic lawmakers have called for an investigation into the service by the Securities and Exchange Commission, which regulates US markets.

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Kevin McGurn, Trump Media's interim CEO, reported that Truth API is already generating revenue, with 10 customer agreements signed, although the clients were not identified.

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The Wall Street Journal has reported that trading companies were among the first to subscribe to the service, highlighting its potential impact on the market.

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On Monday, Trump Media posted a significant increase in losses for the second quarter of 2026, attributed to declines in the value of its digital assets.

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Forbes has estimated that Trump's net worth increased from $2.3 billion to $6.5 billion since 2024, when he won the election over Kamala Harris.