Trump has already exercised broad clemency authority in his second term, issuing a blanket pardon covering roughly 1,500 January 6 defendants on inauguration day in 2025 along with targeted grants for fake electors and other cases. Recent activity shows continued grants outside traditional Justice Department review, including a September 2026 batch of about 30 clemencies focused on fraud, firearms, and drug offenses, often advanced through allies and advocates rather than formal channels. With the market window closing December 31, 2026, trader attention centers on individuals with documented connections to Trump associates, ongoing lobbying by pardon intermediaries, or alignment with administration priorities such as regulatory or political cases. Remaining time allows for additional batches before year-end, while structural factors like Senate dynamics or public scrutiny have limited influence compared to direct White House discretion.