Donald Trump-founded Trump Media announced that Wall Street trading firms will be offered paid access to the president’s Truth Social posts before they’re shared with the public — a move that could be interpreted as selling insider trading information.
Specifically, firms will be able to pay for a Truth Social interface that grants “real-time access to posts from the highest-ranking Truth Social accounts” milliseconds before they’re published online.
Trump Media and Technology Group runs Truth Social, the social media app where President Trump’s account boasts 12.9 million followers.
Kathleen Clark, a conflict-of-interest expert at Washington University School of Law described the new services as “more brazen corruption,” and “an improper exploitation of government power to enrich himself.”
She added, “He’s selling expedited, privileged access to information about what he is doing as president.”
Read more: ANALYSIS: Mapping Donald Trump’s growing crypto empire
Trump Media is reportedly running at a loss, and hopes to boost its coffers by monetizing “proprietary assets” within the app.
Its new service will target multi-billion-dollar trading firms competing for increasingly early access to breaking news. Any amount of time they can claw back before news becomes public is key to making a profitable trade.
Truth Social claims that its data was already being copied by some firms, and that these third-party operations would be blocked by the company in favor of its own monetized access.
Trump administration a magnet for insider trading allegations
This paid-for access appears on its face to be a light form of insider trading from an administration that’s already been plagued with numerous allegations and investigations.
Indeed, reporting from CNN this week found Trump had used his Truth Social account to promote multiple big-name companies days after he had purchased hundreds of thousands of dollars’ worth of stock in said companies.
It claims that 20 different companies, including Nvidia, Tesla, and American Eagle, were promoted on his account days after he bought their stock.
Meanwhile, the US government’s long-time teleprompter was put on unpaid administrative leave after he allegedly made over $100,000 using Trump’s pre-written speeches to insider trade on prediction market Kalshi.
Gabriel Perez allegedly bet on dozens of prediction markets involving Trump speeches across a three-month period alone and was later flagged by the Commodity Futures Trading Commission.
The agency is reportedly seeking to settle with Perez, who has worked for Trump since 2016.
This is just one instance of the numerous signs of insider trading within Trump’s administration in relation to prediction market trades. Signs of insider trading also appeared in markets involving military actions against Venezuela’s Nicolás Maduro, and Iran.
Read more: Trump documents meltdown over Iran war on Truth Social
Insider trading and leaks are also allegedly taking place across futures oil markets, and also allegedly within ongoing US and Iran peace talks.
Drop Site reports that during these talks, Iranian officials warned Vice President JD Vance that Trump’s Special Envoy Steve Witkoff and his son-in-law, Jared Kushner, were exploiting insider negotiations to profit in financial markets, and risk undermining any deal.
Last month, Trump also pardoned Stephen Buyer, a republican who served almost two years in prison after he used insider information to trade stocks based on the around te merger of T-Mobile and Sprint.
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