A group of 53 former federal prosecutors and agents filed a proposed amicus brief Monday in federal court, stating that a Trump Media & Technology Group (TMTG) service selling early access to Truth Social posts likely violates federal laws. The filing supports a lawsuit brought by The Intercept and the Freedom of the Press Foundation, which seeks a preliminary injunction to block the transmission of early access to President Donald Trump's posts. The plaintiffs argue the service, known as Truth API, is unconstitutional under the First and Fifth Amendments.
The Truth API service, which launched August 1, 2026, charges subscribers up to $100,000 per month for faster access to posts from high-ranking Truth Social accounts. According to TMTG executives, more than 10 customers, primarily high-frequency trading firms, signed up for the feed. The former prosecutors' brief alleges the business model likely violates the Securities Exchange Act, the Trade Secrets Act, and federal prohibitions on illegal gratuities and conflicts of interest. The lawsuit names President Trump, executive assistant Natalie Harp, and White House deputy chief of staff Dan Scavino as defendants.
In their filing, the former law enforcement officials argued the arrangement creates an "obvious risk of corruption" by selling advance access to market-moving information. The brief provided a hypothetical example where the President could announce new tariffs; a paid subscriber receiving that information early could sell stocks before the news causes prices to drop. Former officials who signed the brief include Michael Bromwich, a former inspector general, and Ty Cobb, a former White House counsel during the first Trump administration.
The day-to-day change for the public involves how and when they receive official government information. If the injunction is not granted, journalists and the public would receive the president's policy announcements—which have previously covered tariffs and military actions—after paid subscribers. This sets a precedent regarding whether a sitting president can monetize official communications through a private company. TMTG reported a $238 million loss in the second quarter of 2026, and Rep. Jamie Raskin (D-MD) has characterized the service as an attempt to extract profit from a struggling firm while the president maintains a trust owning more than 40% of the company's shares.
The legal proceedings will determine if executive branch officials can be held criminally liable under insider trading and public corruption laws for providing preferential access to policy data. TMTG has defended the service, stating that monetizing platform data is a common practice among technology companies. The next major step is a hearing on the request for a preliminary injunction, which is scheduled for Oct. 7 at the federal courthouse in Manhattan. Separately, Rep. Raskin has launched an investigation, demanding records related to the development and marketing of the Truth API.