What is Trump Media's Truth API and why is it controversial?

What the report says

Trump Media & Technology Group, which operates Truth Social, has launched a paid service called Truth API that gives Wall Street firms and other institutional customers very fast access to posts from the platform’s most influential accounts. The BBC reported that the company says the feed delivers information in milliseconds and is aimed mainly at high-frequency and algorithmic trading firms that rely on speed to act on market-moving news.

The move matters because Donald Trump is closely associated with the platform, and his account is among the most followed on Truth Social. Trump Media has not explicitly said his own posts are included in the service, but the BBC noted that they could be especially influential for traders. The company says the product could become a new revenue source for a business that is currently loss-making.

The launch has drawn criticism and legal scrutiny. Democratic senators Elizabeth Warren and Adam Schiff have asked the US Securities and Exchange Commission to examine whether the service raises legal issues, including possible insider-trading concerns if non-public government information were shared before it became public. Trump Media rejected that criticism and said opponents were confusing public and non-public information.

More broadly, the BBC said the debate is about both market fairness and ethics, since Trump’s family remains the majority shareholder in the company and could benefit from the service. Some market participants say similar data products already exist, but critics argue this case is unusual because of Trump’s political role.