US press groups have filed a lawsuit against Donald Trump over his social media company’s decision to sell faster access to the president’s market-moving posts on Truth Social. The Intercept Media and the Freedom of the Press Foundation filed in federal court to prevent Trump from posting official government information exclusively on Truth Social, which is run by Trump Media & Technology Group (TMTG). TMTG this month launched Truth API, charging investors for privileged access. The media groups alleged the service is “profoundly corrupt” and unconstitutional. The lawsuit lists Trump and two senior advisers as defendants. “The President stands to gain financially,” the court papers said.

TMTG has said Truth API would deliver posts “milliseconds” before public. TMTG shares fell more than 6%. The White House did not comment. A TMTG spokesperson said leftwing activists try to censor him. The lawsuit comes after TMTG advertised the API for up to $100,000 a month. Trump's posts on war, tariffs spur market swings. Intercept and FPF face delayed access. TMTG interim CEO Kevin Mc Gurn said about 10 groups signed deals at $60,000-$100,000 a month. TMTG reported a $238mn loss in Q2.