A federal lawsuit filed Wednesday seeks to prevent Truth Social from charging for early access to posts made by former President Donald Trump concerning U.S. policy decisions. The suit, filed in the Southern District of New York, alleges that the practice violates the Constitution by allowing a private company to profit from exclusive access to official announcements.
The lawsuit was brought by the Freedom of the Press Foundation and the news outlet The Intercept. They contend that Trump Media & Technology Group's new subscription service, which offers Wall Street firms access to Trump's posts on matters such as war and tariffs hours before wider distribution, infringes on the First Amendment right to access presidential communications on equal terms. The plaintiffs also cite the Fifth Amendment, arguing that charging for such access imposes unreasonable conditions on government benefits.
The suit specifically targets the Truth API service, which charges firms up to $100,000 per month for the expedited access. It asks the court to compel Trump Media to end both the paid service and any general exclusive access deal with the company.
Trump Media has defended the practice, stating that providing fast access to information is common in its industry. The company released a statement asserting that the plaintiffs are attempting to use the courts to censor Trump and harm its shareholders. "Information from President Trump is disseminated by countless platforms and news outlets, many of which offer subscription APIs," the company said, adding that "left wing activists are trying to wrongfully weaponize the courts to censor him again and harm our shareholders."
The lawsuit comes as Trump Media has faced significant financial challenges. The publicly traded company has reported losses in the hundreds of millions of dollars per quarter, and its stock price has fallen substantially from its post-merger high. The notes mention the company's stock dropped from $62 to below $10 after going public two years ago.
Ethics watchdogs have previously criticized Trump's activities on Truth Social, viewing them as attempts to monetize the presidency. The lawsuit references earlier instances, including a financial disclosure report showing over $1 billion in earnings from cryptocurrency businesses his administration regulated, and investments in his digital finance company from entities tied to the United Arab Emirates. Additionally, the sale of special souvenir Trump meme coins was noted, with some purchasers potentially seeking federal favor.