In the United States, President Donald Trump’s media company announced the launch of a new product called Truth API, which offers investors millisecond-faster access to potentially market-moving posts on Truth Social. This announcement came on Thursday, July 16, 2026, as the Securities and Exchange Commission (SEC) is considering a shift from quarterly to semiannual disclosures for companies. The introduction of Truth API has raised significant concerns among securities law experts regarding the potential creation of a 'two-tiered market' where only a select group of investors have access to timely information, while ordinary investors may be left in the dark. Kevin McGurn, the Interim CEO of Truth Social’s parent company TMTG, noted that the president's social media posts already influence market movements, highlighting the urgency of the situation. With Trump being the most popular user on the platform, the implications of this new service could be profound. Experts like Tyler Gellasch and Renée Jones have expressed that the Truth API could undermine the principles of fair access to information in U.S. markets, which are designed to ensure that all investors have equal footing. The SEC's consideration of allowing semiannual reporting instead of quarterly filings further complicates the landscape, as it could lead to a reliance on private information streams. Chester Spatt, a former chief economist at the SEC, pointed out that while faster access to information is not new, the issue lies in who profits from it. The potential for Trump to monetize his communications through a platform he owns raises ethical questions about the nature of these communications. The parent company of Truth Social has faced significant financial challenges, reporting a staggering $405.9 million net loss in the first quarter of 2026 alone. If these issues remain unaddressed, experts warn that investor confidence in the integrity of U.S. markets could wane, prompting a shift of capital to markets with more robust disclosure rules, particularly in Europe.
