Lawmaker Asks SEC to Investigate Truth API Before Aug. 1 Launch, Citing Potential Conflicts Over $100K-Per-Month Service

A U.S. lawmaker sent a letter to SEC Chair Paul Atkins on Monday urging the agency to review Truth Social's planned Truth API product before its August 1 debut and assess whether it raises securities law, market manipulation, or investor protection concerns. The API, developed by TMTG, will provide real-time access to trending content and is slated to charge customers up to $100,000 per month, according to Axios and Reuters.

Torres highlighted that the company is substantially owned by the sitting President, who reportedly retains a roughly 41% stake through a revocable trust. The lawmaker warned that "presidential communications capable of affecting stocks, bonds, oil, currencies, and other assets should not become a premium financial product," and urged the SEC to disclose whether it is reviewing the product and what safeguards will be in place to detect suspicious trading activity.