US Democratic lawmakers press SEC to probe Trump Media's fast feed

Trump Media has discussed charging as much as $100,000 a month for the Truth API product, Reuters and other media outlets have reported. Trump's social media posts have in the past moved markets, and the profits of many top trading firms, hedge funds and financial services firms depend heavily on the speed at which they can trade off such news.

Trump, who owns about 41% of Trump Media through a trust his children oversee, stands to profit from the paid access model. The company said it has already signed up customers ahead of the August 1 launch, but did not identify them.

Truth API is the latest example of the president mixing his personal business with presidential affairs, raising ethical issues, Warren and Schiff said. Trump reported last month, for example, that he received more than $1.4 billion last year from his family’s crypto projects.

While tech platforms are generally allowed to offer clients early data access, even if it disadvantages some market participants, according to lawyers, some ethics experts have said the Truth API product is different because Trump's posts are government information and he has an obligation to disseminate it publicly.