More than 50 former federal prosecutors and law enforcement officials are urging a New York judge to block Donald Trump’s $100,000-a-month Truth Social service, arguing that paid early access to potentially market-moving government posts could breach criminal laws.
The 53 former officials filed an amicus brief in the Southern District of New York in support of a preliminary injunction sought by The Intercept and the Freedom of the Press Foundation.
The group includes former Justice Department, FBI and US attorneys’ office officials who worked on public corruption and public integrity cases across 11 presidential administrations. Collectively, they say they have more than 880 years of government service.
The service, known as Truth API, is a data-licensing product launched by Trump Media & Technology Group (TMTG), the parent company of Truth Social. It has been marketed to financial institutions and trading firms as a way to receive posts from prominent Truth Social accounts before they are made widely available.
Reports estimate that almost a dozen firms have signed up to pay $100,000 a month for the service.
The former officials’ filing argues that the arrangement could expose both the president and subscribers to liability under a range of laws, including the Securities Exchange Act and the Trade Secrets Act. It also raises allegations involving illegal gratuities, conflicts of interest and illicit compensation for federal employment.
Truth Social service faces allegations over early access
Renata O’Donnell, senior legal counsel at the Campaign Legal Center, which worked with Singleton Schreiber on the filing, said the arrangement was damaging to public confidence when a president appeared to benefit financially from his official role.
“It’s so corrosive to democracy and to the public interest when we see the president financially benefitting from his official role,” she said.
The filing states: “There is no legitimate, let alone significant, government interest in allowing public officials to profit personally by selling early access to official government announcements.”
It argues that Trump’s financial interest in TMTG distinguishes Truth API from an ordinary government communications system. Trump is described as a major beneficiary of the company, meaning he could benefit financially if the value of Truth Social rises.
The group has not filed a lawsuit and is not claiming that a crime has already been proven. Its brief instead seeks to stop the service on the grounds that it could lead to criminal conduct and unlawful insider tips.
O’Donnell said potential liability could also affect people who had already paid for the subscription, as well as prospective customers.
“There is potential criminal liability for folks who have paid the $100,000,” she said. “And so that would extend to folks who have already paid the $100,000, and for future folks who might.”
Gian Luca Clementi, an economics professor at NYU Stern School of Business, previously described the subscription as “insider trading by definition”.
TMTG did not immediately respond to a request for comment.
San Francisco has separately sued the company, accusing it of breaching California’s unfair competition law and federal insider trading rules. The city is seeking to stop the service and impose penalties for alleged violations.
Trump Media’s wider business interests
Truth API is one of several ventures operated by Trump Media. The company also runs Truth+, a streaming service, and Truth.Fi, a financial services brand that includes investment products and a digital-asset strategy, including a bitcoin treasury.
TMTG has also launched exchange-traded funds linked to themes including American defence and energy security.
Separately, Trump’s family has built a cryptocurrency business through World Liberty Financial, a venture co-founded by the president and his sons. Trump’s 2025 financial disclosure reported more than $1.4 billion in income from crypto-related ventures, including almost $800 million associated with World Liberty Financial and $635 million from sales of a Trump memecoin.
