President Isaac Herzog has deferred Prime Minister Benjamin Netanyahu's November 2025 pardon request in his ongoing corruption trial, prioritizing mediation for a potential plea bargain before considering clemency. In late April 2026, Herzog's office confirmed no immediate pardon, urging both prosecution and defense to exhaust negotiations amid the case's divisive impact on Israeli society. Netanyahu's trial testimony resumed intermittently after security-related delays tied to regional conflicts, with no conviction yet. As of May 13, Herzog reiterated calls for talks, signaling one side's readiness but expecting the other's participation. With under seven weeks until June 30 resolution, traders price an 89.5% "No" probability, reflecting stalled plea efforts, political sensitivities around pardoning a sitting leader, and lack of momentum despite external urgings like former U.S. President Trump's endorsements.