Trump Media & Technology Group Corp. (DJT) has a new product, and it's already stirring up controversy. The company launched a paid "Truth API" on Saturday, offering businesses a licensed, real-time feed of posts from prominent Truth Social accounts. The idea is to give companies a direct line to the platform's most market-moving content, but critics say it's a way for wealthy insiders to get an unfair edge.

What's the Truth API?

Interim CEO Kevin McGurn described the service as providing companies with "a direct, licensed, real-time feed of the platform's most market-moving Truths." While the company didn't name names, it's pretty obvious who the star attraction is: President Donald Trump's @realDonaldTrump account, which boasts about 13 million followers as of Sunday evening. Trump uses Truth Social to announce major policy decisions and geopolitical updates, including the war with Iran. That kind of information can move markets, and the API could give paying customers a head start.

It's worth noting that Trump's family is the largest shareholder in Trump Media, the publicly traded company behind Truth Social. So there's a direct financial benefit to the president's family if this service takes off.

Senators Cry Foul

The launch comes on the heels of a letter from Senators Adam Schiff (D-Calif.) and Elizabeth Warren (D-Mass.) urging the Securities and Exchange Commission to investigate whether the service violates federal law. In their letter to SEC Chair Paul Atkins, the senators argued that the product could undermine market integrity while enriching wealthy investors and Trump-linked business interests.

"This appears to be an outrageous abuse of the President's office for his personal benefit," they wrote, adding that the arrangement could harm everyday investors while enriching "Wall Street and other wealthy insiders."

Calacanis: 'Very Dumb Idea'

Jason Calacanis, host of the All-In Podcast, also weighed in, posting on X that people close to Trump aren't giving him honest feedback. "The people around President Trump [aren't] giving him the good feedback," Calacanis wrote. "They're simply too scared to lose their position close to the Oval to just say 'this is a very dumb idea.'"

He added that the country could face "endless, justified investigations" into such projects.

Market Reaction

Investors seem to share some of the skepticism. Trump Media & Technology Group Corp. closed Friday down 5.01% at $9.86 and slipped another 0.81% to $9.78 in after-hours trading, according to market data. The stock is also showing weak momentum, ranking in the 10th percentile for Momentum, with a negative long-term price trend despite positive short- and medium-term trends.

Whether the Truth API will survive the backlash remains to be seen, but it's already sparked a debate about the intersection of politics, business, and market fairness.