Trump has exercised broad clemency authority in his second term, issuing blanket pardons and commutations for nearly all January 6 defendants on inauguration day 2025 and dozens of additional grants through mid-2026 for offenses including financial crimes, environmental violations, and cases involving political figures. Recent batches include multiple individuals in January, February, June, and July 2026, with actions often tied to claims of prior prosecutorial overreach. As the 2026 midterms approach and the 2028 cycle begins, trader focus centers on whether further grants will target remaining associates, high-profile allies, or other pending federal matters before the 2027 cutoff, with outcomes shaped by White House priorities and any new legal developments.