# San Francisco sues Trump Media over insider trading scheme

> The city alleges Truth Social's paid early-access API lets wealthy investors profit from the president's market-moving posts.
- Title: San Francisco sues Trump Media over insider trading scheme
- Summary: The city alleges Truth Social's paid early-access API lets wealthy investors profit from the president's market-moving posts. Trump Media is selling early…
- Keywords: trump media, truth social, truth api, san francisco, insider trading, lawsuit, early access, donald trump, unfair competition law, hedge funds, market manipulation, technology
- Source: The Verge — https://theverge.com/tech/998914/trump-truth-social-api-lawsuit-san-francisco
- Author: Gaby Del Valle
- Published: 2026-09-22T17:43:50+00:00
- Read time: 1 min
- Topics: trump media, truth social, truth api, san francisco, insider trading, lawsuit, early access, donald trump, unfair competition law, hedge funds, market manipulation, technology
## San Francisco sues Trump Media
The city filed a lawsuit today accusing Trump Media of running a corrupt business scheme by selling early access to Trump's posts on Truth Social.
## Truth API charges $100,000 monthly
Trump Media launched Truth API, which charges select customers $100,000 per month for early access to the 10 most influential accounts on Truth Social, including Trump's.

> markets already move on Truth Social posts
## Trump's posts move global markets
Trump often makes high-stakes announcements as president on Truth Social. On August 21st, he posted about lowering ground beef prices, and cattle futures declined significantly when markets opened.
## Early access creates unfair advantage
San Francisco argues Truth API is a pay-to-play scheme that gives wealthy hedge funds and investors early access to market-moving government statements, disadvantaging everyday investors.

> In today's markets, early access means millions of dollars. This business scheme has turned public trust into private property.
## Lawsuit cites federal ethics laws
San Francisco's complaint alleges Truth API violates federal anti-corruption laws that prohibit insider trading, as well as California's Unfair Competition Law.
## Trump Media faces financial pressure
Trump Media reported a net loss of over $238 million earlier this year. San Francisco alleges Truth API is an attempt to make the struggling company profitable.
## San Francisco seeks to ban the service
The city has asked a judge to forbid Trump Media from offering Truth API or similar services and to impose a fine of $2,500 per violation of California's Unfair Competition Law.
## Key takeaway

Trump Media is selling early access to Trump's posts for $100,000 a month, which San Francisco says violates insider trading laws and gives rich investors unfair advantage over everyday people.