SEC Faces Pressure to Probe Trump Media $100K Truth Social Feed

Lawmakers Elizabeth Warren and Adam Schiff have asked the Securities and Exchange Commission to look into Truth API, a new product from Trump Media. The service sells Wall Street firms early access to posts from the most influential accounts on Truth Social for up to $100,000 a month. The senators argue that giving paying clients a head start creates an unfair advantage and hurts everyday investors.

The service is scheduled to launch on August 1, leaving the agency very little time to take action. Critics point out that President Donald Trump owns a large stake in the company and stands to profit directly from the subscriptions. Similar early access data deals, such as past university sentiment feeds and direct financial news feeds, were previously shut down following pressure from regulators and officials.

Trump Media denies any wrongdoing and defends the product as access to publicly available information rather than inside corporate data. Meanwhile, the SEC has received the letter but declined to comment. Market watchers are now waiting to see if any major financial institutions pull out of the subscription list due to the growing legal and political scrutiny.