Trump Media interim CEO Kevin McGurn said on CNBC that the company’s Truth API has signed more than a dozen customers since launching on Aug. 1. The service gives high-frequency trading firms early access to posts from former President Donald Trump’s Truth Social account and charges up to $100,000 a month. McGurn said it has already generated more than $1 million in revenue. He also said the company plans to expand the offering to retail trading platforms, large language models and prediction markets. The product is now facing congressional scrutiny and at least one lawsuit that alleges it is unconstitutional, leaving its growth trajectory uncertain ahead of the midterm elections.
Trump Media interim CEO Kevin McGurn said on CNBC that the company’s Truth API has signed more than a dozen customers since it launched on Aug. 1.
The service gives high-frequency trading firms early access to posts from former President Donald Trump’s Truth Social account and can cost as much as $100,000 a month. McGurn said the product has already brought in more than $1 million in revenue.
He argued that demand for the service comes from the market itself, comparing it with APIs that social platforms have long sold to trading firms, news organizations and prediction markets. Trump Media plans to expand the service to retail trading platforms, large language models and prediction markets.
Truth API is also facing congressional scrutiny and at least one lawsuit accusing it of being unconstitutional. Whether customer growth can continue through the legal and political pressure remains an open question heading into the midterm elections.
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