Trump has already granted blanket pardons to roughly 1,500 January 6 defendants on his first day back in office in January 2025, along with commutations for several leaders of groups like the Oath Keepers and Proud Boys. Additional clemency followed for 2020 alternate electors including Rudy Giuliani and others, plus dozens of individual pardons for allies, donors, and white-collar offenders such as Ross Ulbricht and Changpeng Zhao. Recent reports indicate the White House is weighing another large batch of up to 250 pardons tied to the nation’s 250th anniversary celebrations in summer 2026, while the pace of grants has slowed since early February. Traders are watching for further actions before the 2027 cutoff, particularly any mass releases for remaining political figures or supporters.