Trump Media and Technology Group (NASDAQ: DJT) has begun selling premium, high-speed access to Donald Trump’s Truth Social posts to banks and high-frequency trading firms.
The service charges customers up to $100,000 a month and is designed to allow paying clients to trade instantly on information posted by the president.
Trump owns a 41 percent stake in Trump Media and Technology Group, the parent company of Truth Social, giving him a direct financial interest in the service’s commercial success.
Trump’s posts have a well-documented history of moving markets, spanning oil prices, global stock indices, and individual company shares.
Shares in tech company Palantir jumped in April after Trump praised the firm, while Citigroup rose in June following a presidential endorsement posted to the platform.
The Wall Street Journal reported that at least five high-frequency trading firms have already signed up to the premium feed since its launch.
Senators Elizabeth Warren and Adam Schiff sent a letter to Securities and Exchange Commission Chairman Paul Atkins last week, demanding a formal investigation into the legality of the arrangement.
In the letter, the senators wrote: “This appears to be an outrageous abuse of the President’s office for his personal benefit that undermines everyday investors and the integrity of our markets, while enriching Wall Street and other wealthy insiders.”
The senators further described the arrangement as “a shocking abuse of the office of the President and the trust of the American public for his personal gain,” citing Trump’s roughly 41 percent ownership of Trump Media as a direct conflict of interest.
While the high-speed feed officially covers a selection of top-ranked Truth Social accounts, Trump is by far the platform’s most followed user, with 12.9 million followers compared to 7.5 million for the next most popular account, his son Don Jr.
Trump Media has stated it expects the Truth Social API service to become a meaningful source of revenue going forward.
Despite shares in the company falling 28 percent so far this year, Trump’s stake in TMTG remains worth approximately $1.1 billion.
XTX, one of Britain’s largest trading firms, confirmed it had not signed up to the service, while the UK’s Financial Conduct Authority declined to comment on whether it held any concerns.
