New York, New York - Two US media groups on Wednesday sued President Donald Trump over his move to charge for early access to his often market-moving Truth Social posts.
The lawsuit, filed in New York by The Intercept and Freedom of the Press Foundation, states that the scheme is "extraordinary, corrupt, and unconstitutional."
Subscribers to the paid service are supposed to get almost instantaneous access to Trump's messages on Truth Social – crucial seconds ahead of the general public.
The billionaire US leader often uses the platform to announce huge news, ranging from developments in the Iran war to trade tariffs, all of which can instantly send market values tumbling or soaring.
Early access to the service can cost up to $100,000 per month, according to Wednesday's lawsuit.
"This scheme is profoundly corrupt. The President stands to gain financially by giving 'market-moving' government information to those who are willing and able to pay his personal company," a court filing says.
Trump Media and Technology Group – the company operating the platform – has dismissed concerns over the product, which is called Truth API and was first unveiled in mid-July.