Two media organizations filed a federal lawsuit Wednesday against President Donald Trump over a new service that charges subscribers up to $100,000 a month for faster access to his announcements on Truth Social.
The Freedom of the Press Foundation and The Intercept Media are behind the suit, which according to Deadline describes the arrangement as a scheme that is "profoundly corrupt." The service is called Trump API, and it is pitched as a business-to-business product for institutional customers, offering the fastest access to the highest-ranking accounts on Truth Social. The practical effect, the lawsuit argues, is that traders and other paying customers would gain an advantage on market-moving information before it reaches the general public.
"The President stands to gain financially by giving 'market-moving' government information to those who are willing and able to pay his personal company," the lawsuit stated.
The plaintiffs contend that the service violates the First Amendment, which they argue "guarantees equal access to the President's public announcements, and even content-neutral burdens on that access must be narrowly tailored to serve a significant government interest. There is no legitimate interest, let alone a significant one, in permitting President Trump to profit from selling government information."
The lawsuit also raises a Fifth Amendment claim, arguing the service prohibits "charging unreasonable sums that cannot be justified to offset the cost of the government benefit."
The Intercept further argues the service puts it in an impossible position, forcing it to make an "unconstitutional choice: either subsidize and associate with the President's private company, harming The Intercept's finances, reputation, and legal security, or risk losing out on timely news to competing organizations, similarly harming its reputation and revenue."
Also named as defendants are two of Trump's top aides, Natalie Harp and Dan Scavino. A White House spokesperson did not immediately return a request for comment.
The lawsuit asks the court to issue an injunction halting the exclusive posting of government information on Truth Social, and to declare the arrangement unconstitutional.
Trump Media and Technology Group, which owns Truth Social, pushed back on the suit. A TMTG spokesperson said, "Information from President Trump is disseminated by countless platforms and news outlets, many of which offer subscription APIs. One of those channels is Truth Social, which was founded as an uncancellable haven for free speech after the President was unjustly deplatformed. Now, left-wing activists are trying to wrongfully weaponize the courts to censor him again and harm our shareholders."
TMTG Interim CEO Kevin McGurn told investors during an earnings call that the company has signed more than 10 customer agreements to date, primarily with high-frequency trading firms, at rates ranging from $60,000 to $100,000 per month. The company reported a $238 million net loss in its most recent quarter, on revenue of $1.7 million.