President Donald Trump’s Truth Social is accused of “unprecedented corruption” and insider trading, according to a lawsuit announced Tuesday. San Francisco City Attorney David Chiu announced the lawsuit against the platform’s parent company, Trump Media, for selling subscriptions allowing early access to the president’s social posts. Chiu said the paid access violates federal ethics laws and facilitates insider trading. “Trump Media created a marketplace that enables insider trading, which Trump directly profits from,” Chiu said in a statement. “This scheme turns the public trust into private profit. It is corruption, plain and simple. Californians should not be forced to compete against wealthy trading firms buying early access to market‑moving information. We are acting decisively to stop this corruption and protect Californians, who work hard, save, and invest responsibly. They deserve a fair marketplace and an ethical government that won’t sell them out to make a quick profit.” Truth Social over the summer started selling a subscription that allows financial firms and other organizations to get alerts for new posts made by Trump and other top accounts before general users do. For a high-frequency trading firm, even milliseconds of a head start could make a huge difference, NBC News recently reported. Trump Media previously defended its subscription service by saying it is no different than any standard subscription analytics tool. Trump has the largest following on the platform and has used Truth Social as his go-to platform to release official statements throughout his second term. NBC News contributed to this report. United Nations 8 hours ago Trump threatens to ‘annihilate' Iran if a deal isn't reached: ‘I have a big decision to make' Donald Trump 19 hours ago Trump meets with Mamdani at Gracie Mansion to discuss housing and affordability in NYC China Sep 20 Trump used to slam China. Here's why he's now rolling out the red carpet for Xi ...read more read less