The Intercept and the Freedom of the Press Foundation filed the lawsuit in the U.S. District Court for the Southern District of New York Wednesday, calling Trump’s plan “extraordinary, corrupt and unconstitutional.”
Trump API would provide 24/7 access, along with Trump’s archived posts going back to 2022, including ones that were deleted or altered. Trump Media’s interim CEO Kevin McGurn says that the company intends “to create a lot of friction for those folks that aren’t coming to us directly.”
“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,” the plaintiffs write. “There is no legitimate interest, let alone a significant one, in permitting President Trump to profit from selling government information.”
With any other politician, this would be a massive ethical violation possibly coming with legal penalties, but for Trump, it’s only the latest in a series of schemes that have allowed him to profit off of his presidency. For now, this lawsuit is the only attempt to end his insider trading venture.
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