The flailing Trump Media is part of the Russell 3000 index. These states want to know why.

"Their concern stems, in part, from the fact that analysts generally do not view TMTG, which owns the president's social media platform Truth, as particularly stable. Trading under the symbol DJT, shares are down 38% year to date and currently trade at about $17.50. Last fiscal year, the company reported a net loss of $400.9 million And in the most recent quarter, it reported a loss of $20 million."

""The Russell 3000 is one of the most influential benchmarks in U.S. capital markets, with approximately $10.6 trillion in assets," the officials write. "Its credibility depends on consistent, transparent, and rigorous standards that ensure its companies reflect the U.S. equity market and meet the expectations of institutional investors and public stewards alike. The continued presence of TMTG in the index raises troubling questions on both financial and governance grounds, as well as on the integrity of the benchmark itself.""

A group of U.S. fiscal leaders, including Vermont State Treasurer Mike Pieciak and fiscal leaders from New York, Massachusetts, Rhode Island, Connecticut, Maryland and the New York City comptroller, raised concerns about FTSE Russell's inclusion of Trump Media & Technology Group (TMTG) in the Russell 3000. TMTG trades under DJT, is down 38% year to date, and recently traded near $17.50. The company reported a $400.9 million net loss last fiscal year and a $20 million loss in the most recent quarter. Officials cited negligible revenues, financial and governance risks, and potential harm to the benchmark's credibility.

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