One of California’s biggest cities on Monday filed a lawsuit challenging President Donald Trump’s media company’s right to offer paid subscription services, alleging it promotes illegal insider trading. 

San Francisco sued to block Trump Media & Technology Group from charging $60,000 to $100,000 per monthly subscription to those who want instant visibility of the president’s various announcements on Truth Social and nine other top accounts on the social media platform, all of which are held by government officials. Truth API, or application programming interface, rolled out in August, echoing data feeds often offered by social media platforms such as Instagram, Facebook, and X, which are widely relied upon by retail and institutional traders for real-time financial and economic data to inform trading decisions.