The active federal prosecution of former FBI Director James Comey centers on a 2026 North Carolina indictment alleging threats against President Trump via a 2025 Instagram post of seashells arranged as “86 47.” Multiple defense motions seek dismissal on First Amendment, selective prosecution, and procedural grounds, while a prior Virginia indictment was dismissed over the interim prosecutor’s appointment and remains under appeal. A September 2026 court order postponed arraignment to January 2027 and shifted any potential trial into early 2027, pushing sentencing timelines beyond the calendar year even in the event of conviction. These scheduling realities and constitutional challenges underpin the 98.7% trader consensus against prison sentencing occurring in 2026, though an unexpected plea or accelerated ruling could still alter the outcome before year-end.