President Donald Trump and several White House officials were sued Wednesday over a Truth Social service that gives paying customers faster access to potentially market-moving posts, all while Trump Media explores licensing the platform's data to prediction markets.
The Intercept and Freedom of the Press Foundation filed the complaint in the U.S. District Court for the Southern District of New York, alleging the service gives subscribers preferential access to official government announcements for up to $100,000 per month.
The lawsuit names Trump, White House Deputy Chief of Staff Dan Scavino, presidential executive assistant Natalie Harp, the Executive Office of the President and the White House Office as defendants.
The service, known as Truth API, delivers posts from Trump and other major Truth Social accounts faster than they become available to the public. Trump Media launched the service on Aug. 1 and has signed more than 10 customer agreements, primarily with high-frequency trading firms, according to interim CEO Kevin McGurn.
Those customers pay "in the range of $60,000 to $100,000 per month," McGurn said during the company’s second-quarter earnings call on Monday.
