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If you aren’t inside, you are outside, okay

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The Trump administration’s position on people enriching themselves by getting inside information and making wagers on unregulated prediction markets is that there’s not nearly enough of it:

Trump Media & Technology Group, a company owned by President Donald Trump, is offering Wall Street firms access to a new speciality service that rapidly delivers and curates market-moving posts from the president’s preferred social media platform.

Truth Social, which launched in 2022, has become the platform where the president offers high-impact statements and announces major decisions. Among those statements, Trump has frequently unveiled changes to U.S. tariff policy; discussed meetings with world leaders, like Chinese President Xi Jinping and Russian President Vladimir Putin; and, in recent months, provided updates on the ongoing war with Iran.

The service, announced Thursday, has been dubbed “Truth API.” An API, or application programming interface, allows software applications to communicate with each other.

“Markets already move on Truth Social posts,” said Kevin McGurn, interim chief executive offer of TMTG, in a statement. “As adoption grows, we expect Truth API to become a meaningful, ongoing source of revenue for the company, creating lasting value for shareholders.”

Trump is the majority stakeholder of Trump Media, which positions him to profit from the company’s new revenue stream. The White House has said that while he is in office, Trump’s assets are held in a trust that is managed by his children.

While the company says the new service will include posts from high-ranking accounts, Truth Social is mostly an echo chamber for the president, his allies and his supporters. Aside from Trump’s own profile, other accounts rarely produce impactful news or information. That raises questions about whether the president will weigh how the service could benefit him financially when he posts on the platform.

As the story observes, Truth Social is unique in that inside information from the president is essentially the only thing it does; it’s not really a “social media” site in any meaningful sense, and nor has it ever been intended to make money for its shareholders (as opposed to its top founders/looters.) This is just moving it to a purer essence, and it will get lost in a 3-Watergates-a-day environment.

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