Trump has exercised his constitutional pardon authority extensively during his second term, granting clemency to more than 1,700 individuals since January 2025, including a mass action covering roughly 1,500 January 6 defendants on his first day in office and subsequent batches for donors, crypto executives, fraud convictions, and political allies. Recent activity includes 11 pardons issued around July 4, 2026, tied to Clean Air Act cases and other matters, following earlier grants in January, February, and June. Critics in Congress have highlighted a pattern of access-driven decisions outside the traditional Department of Justice review process, with reports estimating over $1.7 billion in waived restitution and fines. Trader consensus on short-term markets reflects the irregular cadence of these actions amid ongoing lobbying and White House discretion, with no confirmed grants reported in the immediate weeks before late August 2026 deadlines.