The Justice Department's criminal investigation into Federal Reserve Chair Jerome Powell, opened in January 2026 over cost overruns on headquarters renovations and related congressional testimony, was formally dropped on April 24, 2026, with no indictment issued. Powell's term as chair concludes in May 2026, and the probe's closure removed the primary catalyst that had briefly elevated implied probabilities of federal charges above 10% on prediction markets earlier in the year. No subsequent regulatory filings, DOJ announcements, or congressional actions have introduced new enforcement risk. With the matter resolved without charges and markets now pricing near-zero odds of an indictment by mid-2026 deadlines, traders focus on the absence of ongoing legal exposure rather than forward-looking monetary policy signals or Fed rate paths.