Trump has exercised his constitutional pardon authority extensively in his second term, granting clemency to more than 1,700 individuals by mid-2026, including mass actions for January 6 defendants, alternate electors, and select donors or allies often outside standard DOJ review. Multiple rounds occurred through early 2026, with additional grants in June and July tied to specific cases such as Clean Air Act violations and political connections. Trader sentiment for markets resolving by late August reflects this pattern of intermittent but recurring use, weighed against periods of lower activity and scrutiny over restitution relief or access-based decisions. No major scheduled events or deadlines directly constrain timing, though ongoing clemency reviews and any late announcements could shift implied probabilities before month-end resolution.