President Donald Trump’s plan to sell Wall Street firms lightning-fast access to Truth Social posts is drawing new scrutiny from inside his own party.
Sen. John Cornyn (R-Texas) told CNN that Congress should examine whether Trump Media’s new data service creates a conflict between the president’s official duties and his sprawling business empire.
CNN congressional correspondent Manu Raju pressed Cornyn about the arrangement after several other prominent Republicans pleaded ignorance or brushed aside questions about it.
“I think it does raise some questions about conflicts of interest,” Cornyn said, before adding that Congress has an oversight role in ensuring Trump’s business dealings do not interfere with his responsibilities as president.
When Raju asked directly whether lawmakers should investigate, Cornyn did not hesitate.
“Yes. I suspect that we will do that,” he said, according to Mediaite.
Cornyn’s answer stood out from the responses Raju received from other Republicans.
House Speaker Mike Johnson (R-La.) said it was the first he had heard of the arrangement and that he did not have a legal opinion about it. Sen. Rand Paul (R-Ky.) also said he could not comment because he knew nothing about the service.
Rep. Nancy Mace (R-S.C.) dismissed questions about Trump reportedly making billions of dollars since returning to office, joking that the president’s gains could have come from “a high-yield savings account.”
Cornyn, who is serving out his term after losing to a Trump-backed primary challenger, was the rare Republican willing to acknowledge that the deal could present an ethical problem.
The controversy centers on Truth API, a new Trump Media product scheduled to launch Aug. 1.
The service will provide paying customers with real-time access to posts from Truth Social’s highest-ranking accounts. Trump Media says the feed will deliver information within milliseconds and operate around the clock—features designed to appeal to high-frequency trading firms capable of buying or selling securities almost instantly.
“Markets already move on Truth Social posts,” Trump Media interim CEO Kevin McGurn said when announcing the product, according to CBS News.
That is precisely what has critics sounding the alarm.
Trump routinely uses Truth Social to announce tariff decisions, military actions and other policy changes capable of sending stocks, commodities and currencies soaring or plunging. Traders receiving those posts even milliseconds faster than the public could potentially gain a lucrative advantage.
Trump Media executives reportedly pitched access for as much as $100,000 per month, Axios reported. Trump reportedly retains an approximately 41% stake in the company through a revocable trust.
Democratic Rep. Ritchie Torres of New York has already asked the Securities and Exchange Commission to investigate whether the service raises concerns involving market manipulation, securities law or investor protection.
Senate Majority Leader John Thune (R-S.D.) has also predicted that the unprecedented arrangement will receive some form of regulatory or legal review.
Trump Media has fiercely defended the product, arguing that it merely provides faster access to information that is already public. The company accused critics of trying to damage a publicly traded business and dismissed claims that the service resembles insider trading.
The dispute, however, is no longer coming solely from Democrats or media critics.
With Cornyn now predicting congressional scrutiny, Trump’s lucrative new Wall Street venture may soon face an uncomfortable examination from lawmakers in his own party.
