Trump has exercised broad clemency authority in his second term, issuing more than 1,700 pardons and commutations by mid-2026, including a large January 6 group on inauguration day and subsequent batches in January, February, June, and July. Recent actions on July 3 targeted Clean Air Act violators and other federal cases, continuing a pattern of grants outside traditional Department of Justice review processes. Trader consensus on near-term markets reflects this established cadence, with resolution hinging on any new executive action before the specified cutoff. Scheduled White House announcements or congressional sessions could surface additional clemency decisions, though timing remains at the president's discretion under Article II authority.