Democratic Senators Elizabeth Warren and Adam Schiff have asked the U.S. securities regulator to investigate whether Trump Media's plan to sell early access to President Donald Trump's Truth Social posts violates the law, according to a letter reviewed by Reuters. The senators called the plan an "outrageous abuse of the President's office for his personal benefit."

Trump Media (TMTG) this month launched a paid data feed, Truth API, offering trading firms "the fastest" access to posts from the 10 most influential Truth Social accounts, including Trump's. The letter, sent Tuesday, intensifies scrutiny of the product and potential risks for Wall Street firms that may have purchased the feed.

The letter was addressed to Securities and Exchange Commission Chairman Paul Atkins, a free-market Republican appointed by Trump who has generally taken a softer stance on enforcement. An SEC spokesperson confirmed receipt but declined further comment.

A TMTG spokesperson accused the senators of "ideological opposition to free markets" and misunderstanding public vs. nonpublic information. The White House referred queries to the company. Reuters reported that Trump Media has discussed charging up to $100,000 per month for the API. Trump's posts have previously moved markets.

Trump owns about 41% of Trump Media through a trust and stands to profit from the paid access model. The company said it has signed up customers ahead of the August 1 launch but did not identify them. The senators noted this is the latest example of Trump mixing personal business with presidential affairs, raising ethical concerns.

Source: www.aljazeera.com