Trump has exercised broad clemency authority throughout his second term, issuing over 1,700 pardons and commutations by mid-2026, including mass grants for January 6 defendants on inauguration day and targeted relief for political allies, donors, and connected figures such as Changpeng Zhao and former officials. Recent activity includes a scaled-back July 3, 2026, round of fewer than 20 pardons focused on Clean Air Act cases and a GOP donor, following earlier consideration of a larger “250 pardons for 250 years” initiative tied to the semiquincentennial. A late-August House Judiciary Democrats report highlighted a network of influence brokers facilitating clemency in exchange for political or financial support, while the Justice Department denied thousands of applications lacking connections. These patterns of selective, access-driven grants and the absence of announced near-term actions shape trader assessments of short-term pardon probability.