Democrat senators ask US SEC to probe Trump Media’s fast feed sale
Summary
Democratic Senators Elizabeth Warren and Adam Schiff have asked the U.S. Securities and Exchange Commission (SEC) to investigate whether Trump Media’s plan to sell early access to President Donald Trump’s social media posts breaks the law. The plan offers a paid data feed giving trading firms quicker access to these posts, which has raised concerns about fairness and ethics in the stock market.Key Facts
- Trump Media (TMTG) plans to sell early, paid access to social media posts from President Trump and other top Truth Social accounts.
- The product, called Truth API, could cost up to $100,000 a month for customers.
- Senators Warren and Schiff wrote to the SEC asking for a probe into possible legal and ethical issues.
- They argue this plan could unfairly benefit wealthy investors and harm regular investors by giving insiders faster information.
- President Trump owns about 41% of Trump Media through a family trust.
- The company says the data feed involves publicly available information, not insider information.
- Past posts by Trump on Truth Social have influenced stock prices, raising concerns about insider trading risks.
- The SEC confirmed it received the senators’ letter but has not commented further.
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