On July 16, the U.S. Senate passed S. Res. 772, a simple resolution, by unanimous consent, formally opposing former FTX CEO Sam Bankman-Fried (SBF) receiving a presidential pardon or a sentence reduction. The resolution was introduced by Democratic Sen. Ruben Gallego and co-sponsored by Republican Sen. Cynthia Lummis; it was later joined in support by Republican Sen. Bernie Moreno of Ohio, forming a bipartisan stance.
Text of S. Res. 772: Unanimous passage by consent
S. Res. 772 was introduced by Democratic Sen. Ruben Gallego on June 17, 2026. The three participating lawmakers are as follows:
Ruben Gallego: Democratic Party, Arizona, resolution sponsor
Cynthia Lummis: Republican Party, Wyoming, co-sponsor
Bernie Moreno: Republican Party, Ohio, added support later
The resolution was passed by unanimous consent on July 16, 2026. Legally, a simple resolution typically only expresses the Senate’s own position, does not require approval from the House of Representatives or the president, and has no legal effect. The U.S. Constitution grants the president full authority to grant pardons and commutations for federal crimes, and Congress cannot directly limit that power through a resolution like this.
Background on the pardon request: SBF’s June filing and Department of Justice pending status
SBF formally filed with President Trump in June 2026 to request an executive clemency pardon, and DOJ records show the case remained pending as of the time of reporting. One reason outside attention has focused on this case is that Trump previously granted broad clemency to some individuals linked to parts of the crypto industry, leading markets to speculate whether SBF might pursue a similar route.
While the Senate’s unanimous opposition resolution is not legally binding, it raises the political cost for the White House to approve a pardon.
FTX collapse and SBF’s conviction record: timeline from the Nov. 2022 collapse to the March 2024 sentencing
FTX collapsed in November 2022, having been one of the world’s largest crypto exchanges before the collapse. Afterwards, revelations of a shortfall in customer assets and related transactions with Alameda Research sparked strong震荡 among global regulators, investors, and the crypto industry.
In March 2024, SBF was sentenced to 25 years in federal prison. The charges involved fraud, conspiracy to commit fraud, and misappropriation of customer funds. Prosecutors argued at trial that FTX customer funds were used to cover Alameda’s losses, make political donations, fund real estate investments, and pay for spending at other companies. SBF has long maintained that he did not intend to commit fraud and has sought to overturn the case or shorten his sentence through appeals and clemency routes, but the appeals have currently been rejected.
Polymarket prediction market: probability of pardon below 1% before July 31
As of the time of reporting, traders on the prediction market Polymarket assessed that Trump’s probability of pardoning SBF before July 31, 2026 is below 1%, with related derivatives trading volume exceeding $734,000. This data suggests that while the market continues to watch developments from the White House, most traders do not believe a pardon outcome will occur in the near term. After the Senate resolution passed, market assessments still showed a low probability, reflecting the industry’s prevailing interpretation of the bipartisan political signal.
FAQ
Can the anti-pardon resolution passed by the U.S. Senate stop Trump from pardoning SBF?
No. What was passed was the simple resolution S. Res. 772. A simple resolution only expresses the Senate’s own position, does not require House or presidential approval, and has no legal effect. The U.S. Constitution gives the president full authority to grant pardons and commutations for federal crimes. Even if the Senate unanimously opposes, the president still legally has room to exercise that power.
What is SBF’s current prison term and conviction offense?
SBF was sentenced in March 2024 to 25 years in federal prison. The conviction offenses include fraud, conspiracy to commit fraud, and misappropriation of customer funds. The relevant charges are all tied to the November 2022 FTX collapse, and SBF has sought an appeal, but it was rejected.
How does Polymarket currently assess the odds of SBF receiving a pardon?
As of the time of reporting, Polymarket shows the market’s assessment that Trump’s probability of pardoning SBF before July 31, 2026 is below 1%, with related derivatives trading volume exceeding $734,000. Prediction market probabilities will change in real time as the latest developments unfold.
