Ranking Member Raskin Launches Investigation into Trump Scheme to Sell Insider Access to His Own Truth Social Posts

Trump Media Plan Launching August 1 Will Charge Wall Street $100,000/Month for Early Access to President’s “Truths”

Washington, D.C. (July 31, 2026)—Rep. Jamie Raskin, Ranking Member of the House Judiciary Committee, launched an investigation into Trump Media & Technology Group’s plan to sell Wall Street firms early access to President Donald Trump’s market-moving Truth Social posts through a new “Truth API” set to launch August 1. The service, which is marketed to high-frequency traders, hedge funds, and other major investment firms, will reportedly cost $100,000 per month—and Donald Trump, who controls a trust owning more than 40% of Trump Media’s shares, stands to directly profit from the arrangement.

“Trump Media will soon be selling early access to President Trump’s so-called ‘Truth’ missives to the most sophisticated investment firms in the world. This insider-information scheme will enable Wall Street to profit from the President’s frequent market-moving posts on major businesses and cash in on swings in stock prices caused by the President’s buying and selling (or pumping and dumping, if you prefer) of publicly traded stocks to unwitting retail investors.  A public official with access to the ultimate insider information—his own next actions and policies as the Chief Executive of the United States—is selling advance access to that market- moving information to the high bidders at the expense of all other investors who may lack the steep $100,000 subscription. This White House-Wall Street-Trump-Business feedback loop represents the depraved essence of insider trading,” wrote Ranking Member Raskin.

High-frequency and algorithmic trading firms already pay for faster access to public information in order to gain a market advantage. Using better hardware, faster connections and servers located closer to exchanges, they can shave milliseconds off their trades. But unlike existing data services that focus on how fast the traders receive the information, the Truth API product sells unprecedented earlier access to the President’s own statements before the general public can see them.

Many of Trump’s past statements, from tariff announcements to statements on the Iran war, have instantly moved markets and affected the value of publicly traded companies. Now, firms paying $100,000 per month could act on that information before the broader public. This scheme would allow wealthy institutional investors to profit from price swings triggered by presidential statements, while leaving everyday investors, pension funds, and retirement accounts at a fundamental disadvantage.

The Truth API is only the latest example of President Trump’s efforts to monetize the power of his office to influence markets. Trump has repeatedly used Truth Social to promote companies shortly after investing in them, including firms whose fortunes are shaped by government policy and decisions made by his own Administration. Meanwhile, Donald Trump Jr.’s investment firm, 1789 Capital, has reportedly posted returns exceeding 200% since President Trump returned to office.

This Truth API is clearly a last-ditch attempt for Trump and his inner circle to extract profit from a struggling company. Since going public in 2024, the company’s stock has dropped more than 80%, while reporting hundreds of millions of dollars in operating losses.

“The President of the United States should be using his office to ‘take Care’ that laws are enforced and to advance the public interest. Instead, Trump is, once again, using it to enrich in spectacular fashion himself and his family and corporate cronies, destroying the integrity of financial markets in the process,” wrote the Ranking Member.

Ranking Member Raskin is demanding records related to the development, pricing, marketing, and rollout of the Truth API, as well as communications between Trump Media and government officials. The Committee is also seeking information on which firms have subscribed to the service ahead of its launch and what safeguards, if any, exist to prevent abuse.

Click here to read the letter.