Since Truth API was announced, some have raised the potential for insider trading to occur. Richard Painter, former chief ethics lawyer to President George W Bush, told the BBC even if Trump does not trade himself on US government information, there was the so-called "tipper-tippee liability" under insider trading laws. Democratic Senators Elizabeth Warren and Adam Schiff have written to the US securities regulator to ask if it will investigate whether Truth API breaks the law. TMTG has also said "the Senators must have invented a new theory of 'insider trading' based on publicly available information". Trump, who owns about 41% of Trump Media through a trust his children oversee, does stand to profit from the service.