Two US media organizations, The Intercept and the Freedom of the Press Foundation, have filed a lawsuit in New York against US President Donald Trump over a scheme that sells early access to his Truth Social posts. The lawsuit describes the scheme as "extraordinary, corrupt and unconstitutional."

Subscribers to the paid service reportedly receive Mr Trump's posts on Truth Social within milliseconds, providing crucial seconds of advance access before the general public. This early access is significant as Trump's social media posts have been known to influence stock markets.

According to the lawsuit, early access can cost up to $100,000 USD (approximately $141,000 AUD) per month. The Wall Street Journal reported that at least five trading companies signed up shortly after the service's launch.

Trump Media and Technology Group has dismissed concerns about the scheme. Meanwhile, Democratic Senator Mark Warner announced on X last Tuesday that he introduced a bill to the US Senate aimed at "cracking down on this corruption and ensuring all Americans have free and equal access to public announcements from government officials."

The lawsuit and legislative response highlight concerns that the President stands to gain financially by providing "market-moving" government information to paying subscribers.

Sources