Media Groups Sue Over Paid Fast-Track Access to President's Truth Social Posts

Two media outlets, The Intercept and the Freedom of the Press Foundation, filed a lawsuit in a New York federal court on Wednesday challenging a paid service offered by Truth Social, the platform owned by Trump Media & Technology Group. The service, called Truth API, reportedly charges up to $100,000 a month for subscribers to receive the president's posts a few milliseconds earlier than the public, a speed advantage that could affect high-frequency trading.

The plaintiffs argue that the arrangement breaches the First Amendment by limiting equal public access to presidential statements and the Fifth Amendment by providing preferential treatment for large payments. The suit also names the president's executive assistant Natalie Harp, White House deputy chief of staff Dan Scavino, the Executive Office of the President, and the White House Office as defendants.

"The president here is using the power of the office to vastly enrich himself, and I think it's unprecedented in American history," said Brendan Ballou, who leads the Public Integrity Project and represents the media groups.

A Trump Media spokesperson said that monetizing platform data is common in the tech industry and that the president's posts are widely disseminated across other media. The company described Truth Social as a venue for free speech.

The lawsuit comes as Trump Media reported a $238 million loss for the second quarter, largely tied to cryptocurrency holdings. Executives told investors that the company is focusing on Truth Social, noting that more than ten high-frequency trading firms have subscribed to the faster-access feed, though they did not disclose the customers' identities.

Legal experts and some Wall Street figures have expressed concern that selling premium, time-sensitive access to presidential announcements could raise market-integrity issues and potentially conflict with insider-trading regulations. The plaintiffs also contend that journalists without paid access could be disadvantaged in covering the White House.

Financial disclosures released in June indicated that the president earned at least $2 billion last year. Trump Media, in which the president is the largest shareholder, continues to explore other ventures, including a pending merger with a nuclear-fusion company and a partnership with Crypto.com for prediction-market services.