Trump has already granted clemency on a large scale in his second term, including blanket pardons for roughly 1,500 January 6 defendants on inauguration day and proclamations covering 77 individuals tied to the 2020 fake electors effort. Recent statements from the president, including a November 2026 interview outlining plans for “tremendous numbers” of additional pardons before leaving office, have shaped trader views on the remaining window through December 31, 2026. With most prominent political allies and related cases already addressed, individual outcome prices remain modest, reflecting uncertainty over which specific figures or categories may receive further grants amid ongoing debates over the scope and timing of clemency.