Trump Media plans early access service for Truth Social posts

Trump Media & Technology Group says it plans to sell financial firms early access to some Truth Social posts, a service aimed at traders who profit from reacting to news faster than rivals. The plan matters because President Donald Trump’s posts have moved stocks, bonds, gold and oil, and the company has not said whether his account will be excluded.

The service, called Truth PSI, was announced by Trump Media in a release Thursday. The company said it expects to launch the product next month and has already signed up customers, though it did not say what it will charge or how large the business could become.

Trump Media described the product as a way for institutions to see posts from “highest-ranking” accounts before other users. Trump has 12.9 million followers on Truth Social, the largest audience on the platform, according to Fortune.

Trump Media did not respond to questions about whether the president’s posts would be part of the offering, Fortune reported. The White House referred questions to Trump Media, and the Trump Organization declined to comment, according to the report.

Ethics critics object

Dylan Hedler-Gaudette, a federal ethics specialist at the Project on Government Oversight, told Fortune the proposal was “odious” because it would sell Wall Street earlier access to posts that can affect markets. “Everything he says has market implications,” he said.

Kathleen Clark, a Washington University School of Law professor who studies government ethics, told Fortune the plan amounted to “brazen corruption.” She said Trump could profit by selling access tied to his public role.

Clark said conflict-of-interest rules would bar many federal officials from owning a company that benefits from access to official decisions, but the president and vice president are exempt from that provision. Fortune reported that past presidents have generally acted as though the standard applied to them by selling stocks, divesting businesses or using blind trusts, while Trump has not taken those steps.

Trump has repeatedly denied that his business interests conflict with his duty to serve the public, according to Fortune. The White House has previously said Trump acts in the country’s interest and is not involved in his family company.

Market-moving posts

Trump has used Truth Social for policy announcements and comments on tariffs, staff changes, immigration, Ukraine and Iran, according to Fortune. Those posts can reach markets before formal government events or statements.

On April 2 last year, Trump posted “It’s Liberation Day in America” ahead of a Rose Garden tariff announcement, Fortune reported. Stocks fell nearly 5% over the following hours, while gold and Treasury bonds rose.

Days later, Trump said on Truth Social that he would suspend the tariffs for 90 days and wrote, “THIS IS A GREAT TIME TO BUY!!!” Fortune reported that stocks rose 9.5% that day, adding $4 trillion in S&P 500 value.

Oil traders have also watched the account. Fortune reported that Trump posted on June 24 last year, “THE CEASEFIRE IS NOW IN EFFECT. PLEASE DO NOT VIOLATE IT!” about an Iran deal, and oil prices dropped immediately.

A revenue push after a stock slump

Trump Media CEO Kevin McGurn said in the company’s release that he expects Truth PSI to become a “meaningful” revenue source as the company seeks to make money from its assets. High-frequency trading firms rely on fractions of a second when buying and selling financial instruments, making faster access to news valuable.

The product arrives as Trump Media’s stock has fallen more than 70% since Trump took office last year, according to Fortune. The company has expanded into crypto, financial services and nuclear fusion and recently replaced former CEO Devin Nunes with McGurn.

Trump Media shares rose 0.6% after the announcement Thursday and were up by half that amount the next day at $9.66, Fortune reported. The stock closed at $40 before Trump took office last year.

This story draws on original reporting from Fortune.