(A machine readable advanced notice of Trump's foreign policy announcements, even if they are only milliseconds ahead of his standard announcements, would prove extremely profitable for algorithmic and high-frequency trading firms who's AI systems would be able to instantly calculate the best trades or shorts to generate untold profits from the information. Whether it takes place days or milliseconds in advance, with AI high-frequency trading being the norm these days, it's still insider trading being sold as a subscription service by the guy sitting behind the Resolute desk in the White House.)
from Legis1
A Democratic-led push would prohibit companies from selling prioritized access to government officials’ social media posts, targeting Trump Media & Technology Group’s new Truth API service and the information advantage it offers institutional investors.
Truth API provides financial institutions, news organizations and high-frequency trading firms with a direct, machine-readable feed of posts from President Donald Trump and other influential Truth Social accounts. Access reportedly costs between $60,000 and $100,000 per month. The service went live Aug. 1 and delivers posts within milliseconds, potentially allowing trading algorithms to respond before most investors receive push notifications or manually refresh the platform.
The service does not provide posts before they are publicly published. Trump Media says the posts are public when they enter the API, while critics argue the speed advantage still creates a two-tiered system for access to potentially market-moving presidential communications.
Senate Democrats argue that allowing the president’s company to charge for faster delivery of statements about tariffs, military actions, companies and other matters affecting financial markets creates conflicts of interest and could undermine market integrity. The legislation would restrict the purchase, sale or exchange of prioritized information derived from government officials’ social media communications.
Truth API was announced July 16 and became available to institutional customers Aug. 1. Trump Media described it as a licensed, real-time data feed designed for organizations most affected by delays in receiving information, including algorithmic and high-frequency trading firms. The company said it had signed customers before the launch.
Sen. Alex Padilla (D-CA) introduced S. 5221 on Aug. 3 with Sens. Richard Blumenthal (D-CN), Sheldon Whitehouse (D-RI) and Gary Peters (D-MI) as original cosponsors, according to the Legis1 bill record. The proposal would prohibit transactions involving nonpublic or prioritized information derived from government officials’ social media accounts.
The measure has been introduced but has not advanced through a committee hearing or vote. I could not independently verify any official Senate announcement scheduling it for floor consideration...
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