A paid service that lets users receive U.S. President Donald Trump's social media (SNS) posts before the general public is heading to court. Media organizations argued it is "unusual, corrupt and unconstitutional" to let only those who pay get first access to a president's remarks that can move markets.
On the 12th (local time), according to Bloomberg and AFP, U.S. media outlet The Intercept Media and nonprofit Foundation for Press Freedom filed a lawsuit that day in the U.S. District Court for the Southern District of New York against Trump Media & Technology Group (TMTG), the operator of Truth Social.
The issue is TMTG's "Truth API," launched early this month. By paying up to $100,000 a month (about 140 million won) in fees, users can view President Trump's Truth Social posts faster than the general public, down to the thousandth of a second.
The groups that filed the suit argued that TMTG's selling, for a fee, the right to see the president's posts first is "unusual, corrupt and unconstitutional."
In the complaint, they noted, "The president can obtain monetary gain by providing 'market-moving' government information to those who are willing and able to pay money to his private company."
They also said the right to equal access to the president's public remarks is guaranteed by the Constitution, and asked the court to declare unconstitutional and bar the act of posting government information exclusively on Truth Social.
President Trump announces major policy decisions that can affect financial markets—such as tariff and trade and diplomacy—through his Truth Social account, which has about 13 million followers. Most announcements related to the Iran war, which could affect international oil prices, are also released through Truth Social.
TMTG is a company in which President Trump is the largest shareholder. The 41% equity he holds in the company, worth about $1 billion, has been placed in a trust managed by his eldest son, Donald Trump Jr.