It's a strange arrangement because Truth Social has not reported a single profitable quarter since it became a public company on March 26, 2024. It's been a steady loser moneywise, but Trump has lived with that fact to have a platform where he can lie his ass off and not get deplatformed.
But his grifting DNA finally figured out a way to actually make money on the failing platform. He came up with a slimy scheme to sell insider stock information to corporations and to hold an unfair advantage over other newsrooms.
The unlawful scheme was launched in the beginning of August, and a lawsuit was filed Wednesday in the U.S. District Court for the Southern District of New York by a nonprofit newsroom, The Intercept and the Freedom of Press Foundations, alleging the scheme "is extraordinary, corrupt, and unconstitutional."
The lawsuit charges Trump with violating the news media's First Amendment rights to access presidential statements "on equal terms with other members of the press and public.
The scam is simple. Corporations pay $100,000-month to get the privilege of knowing in advance when Trump is going to make an announcement that will temporarily rock the stock market making millions for his paid corporate customers.
But wait! There's more. In addition to high-speed access to Truth Social customers will get access to the nine most-popular accounts on the platform, including J.D. Vance, Karoline Leavitt and Robert F. Kennedy Jr. I'm not sure how Leavitt's sudden announcement that she is retiring will affect the case.
There's more. Natalie Harp (aka Trump's diaper changer) is the new woman in Trump's life who media reports suggest is responsible for authoring many of his posts, is named as a defendant in the suit alongside Dan Scavino.
Striking while the iron was hot 10 companies have already registered for the service. They still invested in the scam despite reports Truth Social lost $238 million dollars in the second quarter of 2026. Apparently, the jackpot being offered wiped away any doubts for those greedy CEOs.
Meanwhile Democratic lawmakers Senator Ruben Gallego and Mark Warner have introduced a bill seeking to ban social media companies from selling earlier access to government employees' accounts and specifically invoked the Truth Social scheme.
As it Stands, one of many striking things about Trump's second term is that he's living out his fantasies by renaming monuments, public places, and highways after himself, along with a complete disregard for ANY laws.
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