SUBSCRIBE TO OUR FREE NEWSLETTER
Daily news & progressive opinion—funded by the people, not the corporations—delivered straight to your inbox.
5
#000000
#FFFFFF
5
#000000
#FFFFFF
US President Donald Trump holds a printed copy of a post from his Truth Social account as he speaks in the Oval Office of the White House in Washington, DC on June 4, 2026.
(Photo by Brendan Smialowski/AFP via Getty Images)
Padilla Unveils Bill to Stop Trump From Selling Access to 'Market-Moving Social Media Posts'
"Americans deserve a government that works for them, not one that’s for sale to hedge funds and Wall Street banks."
Aug 04, 2026
US Sen. Alex Padilla on Tuesday introduced legislation aimed at blocking President Donald Trump, Vice President JD Vance, and future occupants of their offices from profiting by selling early access to official or personal social media posts that could move financial markets, calling the practice a blatant abuse of public office for private gain.
Padilla's (D-Calif.) Stop Corrupt Trading Act would prohibit any sitting president or vice president—and any business in which they hold a substantial financial interest—from selling advance or exclusive access to presidential social media announcements. It would also establish civil penalties for the sale of nonpublic government information through such services.
“This is out in the open—Donald Trump is the most corrupt president in American history," Padilla said in a statement introducing the legislation. "Despite already being the richest president in history, President Trump’s number one priority in office is to make himself richer while everyday Americans struggle to make ends meet."
“Selling access to his market-moving social media posts is just one example of the brazen corruption we’ve seen coming out of the Oval Office—and I am fighting back to put a stop to it," he added. "Americans deserve a government that works for them, not one that’s for sale to hedge funds and Wall Street banks that can afford the subscription fee.”
Padilla's bill comes days after the Trump Media & Technology Group (TMTG) launched a premium service offering subscribers expedited access to the president's Truth Social posts, a move that ethics watchdogs and government accountability advocates have warned could provide wealthy investors with an unfair advantage if presidential statements affect stock prices, tariffs, or other market-sensitive policies.
US House Judiciary Committee Ranking Member Jamie Raskin (D-Md.) responded to TMTG's move by announcing an investigation into what he called an "insider-information scheme."
We are at a crossroads
This country and this world are at a monumental crossroads. US voters have an opportunity to beat back the forces of fascism and confront the billionaires who are rigging the economy, our media system, and our democracy, making it increasingly impossible for ordinary people to get by. We’re not just talking about the election. We’re talking about what must be done once these fascist elements are vanquished from power. We need a bolder set of solutions than what either major party has so far been willing to offer and a working-class movement ready to fight like hell for it. Trump didn't emerge from nowhere. The conditions that fueled MAGA authoritarianism were created by decades of radical neoliberal economic policies and a corrupt political system dominated by corporate interests. They slashed taxes on the super-rich, promising that the benefits would trickle down. They said giveaways to the corporate titans would make life more affordable for the rest of us. It was all bullshit. And when a bitter, betrayed populace searches for someone to blame, right-wing demagogues have little trouble finding scapegoats. People know when they're being lied to, but you won't hear any of this from the corporate media. Only independent journalism—powered and funded by people who believe in building a better world—can deliver truly trustworthy daily news. If you share our vision, please contribute whatever you can to sustain our work. |
Our work is licensed under Creative Commons (CC BY-NC-ND 3.0). Feel free to republish and share widely.
US Sen. Alex Padilla on Tuesday introduced legislation aimed at blocking President Donald Trump, Vice President JD Vance, and future occupants of their offices from profiting by selling early access to official or personal social media posts that could move financial markets, calling the practice a blatant abuse of public office for private gain.
Padilla's (D-Calif.) Stop Corrupt Trading Act would prohibit any sitting president or vice president—and any business in which they hold a substantial financial interest—from selling advance or exclusive access to presidential social media announcements. It would also establish civil penalties for the sale of nonpublic government information through such services.
“This is out in the open—Donald Trump is the most corrupt president in American history," Padilla said in a statement introducing the legislation. "Despite already being the richest president in history, President Trump’s number one priority in office is to make himself richer while everyday Americans struggle to make ends meet."
“Selling access to his market-moving social media posts is just one example of the brazen corruption we’ve seen coming out of the Oval Office—and I am fighting back to put a stop to it," he added. "Americans deserve a government that works for them, not one that’s for sale to hedge funds and Wall Street banks that can afford the subscription fee.”
Padilla's bill comes days after the Trump Media & Technology Group (TMTG) launched a premium service offering subscribers expedited access to the president's Truth Social posts, a move that ethics watchdogs and government accountability advocates have warned could provide wealthy investors with an unfair advantage if presidential statements affect stock prices, tariffs, or other market-sensitive policies.
US House Judiciary Committee Ranking Member Jamie Raskin (D-Md.) responded to TMTG's move by announcing an investigation into what he called an "insider-information scheme."
US Sen. Alex Padilla on Tuesday introduced legislation aimed at blocking President Donald Trump, Vice President JD Vance, and future occupants of their offices from profiting by selling early access to official or personal social media posts that could move financial markets, calling the practice a blatant abuse of public office for private gain.
Padilla's (D-Calif.) Stop Corrupt Trading Act would prohibit any sitting president or vice president—and any business in which they hold a substantial financial interest—from selling advance or exclusive access to presidential social media announcements. It would also establish civil penalties for the sale of nonpublic government information through such services.
“This is out in the open—Donald Trump is the most corrupt president in American history," Padilla said in a statement introducing the legislation. "Despite already being the richest president in history, President Trump’s number one priority in office is to make himself richer while everyday Americans struggle to make ends meet."
“Selling access to his market-moving social media posts is just one example of the brazen corruption we’ve seen coming out of the Oval Office—and I am fighting back to put a stop to it," he added. "Americans deserve a government that works for them, not one that’s for sale to hedge funds and Wall Street banks that can afford the subscription fee.”
Padilla's bill comes days after the Trump Media & Technology Group (TMTG) launched a premium service offering subscribers expedited access to the president's Truth Social posts, a move that ethics watchdogs and government accountability advocates have warned could provide wealthy investors with an unfair advantage if presidential statements affect stock prices, tariffs, or other market-sensitive policies.
US House Judiciary Committee Ranking Member Jamie Raskin (D-Md.) responded to TMTG's move by announcing an investigation into what he called an "insider-information scheme."
We've had enough. The 1% own and operate the corporate media. They are doing everything they can to defend the status quo, squash dissent and protect the wealthy and the powerful. The Common Dreams media model is different. We cover the news that matters to the 99%. Our mission? To inform. To inspire. To ignite change for the common good. How? Nonprofit. Independent. Reader-supported. Free to read. Free to republish. Free to share. With no advertising. No paywalls. No selling of your data. Thousands of small donations fund our newsroom and allow us to continue publishing. Can you chip in? We can't do it without you. Thank you.
To inform. To inspire. To ignite change for the common good.
News & Opinion
Trending
Common Dreams, Inc. Founded 1997. Registered 501(c3) Non-Profit
Privacy Policy