San Francisco seeks injunction against paid early-access service on Truth Social

San Francisco’s city attorney has asked a state court to bar Trump’s social-media platform, Truth Social, from providing a paid service that gives subscribers early access to posts by President Donald Trump and other high-level officials. The lawsuit claims the $100,000-per-month subscription, called “Truth API,” allows privileged users to see announcements that could affect financial markets before the information is publicly available.

According to the complaint, the arrangement could constitute insider trading and breaches California’s Unfair Competition Law, which prohibits unfair business practices. The city seeks an injunction against the paid access and civil penalties of $2,500 for each post that allegedly violates the law.

The filing cites examples such as a May 2025 post about a U.S. Steel-Nippon Steel merger that reportedly lifted the American company’s stock by 22.5%, and a January 2026 post releasing employment data twelve hours ahead of the official release.

“Truth API disadvantages regular investors, including individuals who hold investments via pension funds, 401(k) plans, and other retirement funds, whose investment vehicles do not and/or cannot obtain Truth API’s early-access information,” the complaint states.

A group of former prosecutors and federal agents submitted an amicus brief in a related federal case, arguing that the subscription may violate federal securities laws, the Trade Secrets Act, and could be considered illegal compensation for federal employment.

Trump Media & Technology Group has not responded to requests for comment. The city is represented by Platkin LLP, Washington Litigation Group and Democracy Defenders Fund alongside the San Francisco City Attorney’s Office.