San Francisco files lawsuit against Trump Media over Truth Social subscription service

<p>San Francisco is suing Trump Media, the company behind President Donald Trump's social media platform, Truth Social, over a subscription service that allegedly provides certain customers with early access to the president's posts. City Attorney David Chiu announced the lawsuit on September 22, 2026, claiming that the Truth API service operates as a "pay-to-play scheme," allowing subscribers to receive market-moving posts from Trump before they are available to the general public.</p><p>The lawsuit aims to block the service and impose civil penalties under California's Unfair Competition Law (UCL). Chiu stated that the service gives wealthy subscribers an "unfair advantage" by providing early access to government information.</p><p>Chiu remarked, "Truth Social has knowingly created a marketplace for insider trading by giving high-paying subscribers an unfair advantage over ordinary investors in the market. It's a pay-to-play scheme for early access to the president's market-moving government decisions." The subscription service, which began on August 1, costs between $60,000 and $100,000 per month for early access to posts from Truth Social accounts with significant followings, including Trump's.</p><p>Chiu noted, "No ordinary person can pay that fee. Now the early subscribers are largely high-frequency trading firms with the technology to analyze that information and to make trades within microseconds." He also mentioned that Trump owns approximately 41% of Trump Media and is personally benefiting from this business model.</p><p>A spokesperson for Trump Media responded to the allegations, suggesting that the lawsuit is driven by "left-wing activists masquerading as attorneys" and that the distinction between public and nonpublic information is being misunderstood.</p><p>The lawsuit was filed on the same day that a group of former federal prosecutors and agents submitted a court brief supporting a separate lawsuit concerning the Truth API, as reported by CBS News. This separate lawsuit, initiated by The Intercept and the Freedom of the Press Foundation, claims that the paid service violates the First and Fifth Amendments.</p><p>A White House spokesperson directed inquiries to Trump Media and The Trump Organization for further comments. Representatives for The Trump Organization and Chiu's office were not immediately available for comment.</p>