Trump Media is set to launch a new data feed called Truth API on August 1, giving algorithmic traders and financial firms early access to posts from 10 influential accounts on Truth Social — including likely Donald Trump's. The feed will operate 24/7 and deliver posts faster than push notifications, according to the company. But the move has already drawn criticism from Senator Ron Wyden, who says it could create an uneven playing field that benefits the Trump family and Wall Street firms.
How the Truth API works
The licensed feed will cover 10 accounts, though Trump Media has not specified which ones. The company said it targets organizations that bear the cost of information delays — such as banks and algorithmic trading firms — and that customers have already signed up. The Financial Times reported a monthly price of up to $100,000, but that figure has not been independently verified.
Truth API creates a problem where publication and distribution operate on different clocks, allowing machines to react before retail users. That gap could be exploited by traders who pay for the feed, getting posts milliseconds or seconds before they appear publicly.
Regulatory concerns and a related probe
The launch comes as the Commodity Futures Trading Commission investigates Gabriel Perez, Trump's teleprompter operator, for wagers on Kalshi contracts using access to prepared remarks before Trump spoke. Perez made over $90,000 in profits. Kalshi froze his account and referred the activity to the CFTC. Perez cooperated with regulators. The CFTC declined public comment.
Kalshi's rulebook bars people with material nonpublic information and those who can influence contract resolution. The Truth API raises similar questions: if a trader gets early access to a post that moves markets, does that constitute insider trading?
Ownership and unanswered questions
The Donald J. Trump Revocable Trust holds about 41% of Trump Media shares. Trump's children oversee the trust. Reuters reported that Trump Media left an inquiry about unequal trading opportunities unanswered. Senator Wyden said the feed would benefit the Trump family and Wall Street firms, not ordinary investors.
Trump Media has not disclosed pricing or whether the feed will be subject to securities or commodities regulations. The CFTC probe into Perez is ongoing, and it remains unclear whether the agency will examine the Truth API as well.
