Senate Passes Unanimous Resolution Against Presidential Clemency for Sam Bankman-Fried
In a unanimous decision, the Senate passed a resolution rejecting clemency for Sam Bankman-Fried, the former CEO of FTX, while prediction market data shows Trump pardon odds falling under 1% before July 31.
A resolution opposing executive clemency for Sam Bankman-Fried, the disgraced former CEO of FTX and convicted cryptocurrency executive responsible for one of the sector's most significant failures, has been adopted by the US Senate.
According to a Wednesday X post from the Senate Press Gallery, the Senate reached agreement through unanimous consent on the simple resolution (S. Res. 772), a nonbinding measure declaring that executive clemency should not be granted to Bankman-Fried.
Following Bankman-Fried's conviction on charges of fraud and conspiracy connected to the FTX collapse, the resolution demonstrates the Senate's dedication to maintaining the rule of law and protecting the integrity of America's financial system.
While the measure lacks the authority to prevent a presidential pardon, it represents bipartisan opposition within the Senate following Bankman-Fried's pursuit of executive clemency from President Donald Trump.
Senate weighs in, but cannot block a pardon
With Sen. Cynthia Lummis serving as a cosponsor, S. Res. 772 was introduced by Sen. Ruben Gallego on June 17 and opposes all forms of federal clemency for Bankman-Fried, encompassing both presidential pardons and sentence commutations.
According to the Senate's "Types of Legislation" guide, a simple Senate resolution differs from legislation in that it doesn't require the president's signature or House approval and doesn't carry the weight of law.
At the time of publication, the most recent floor action had not yet been updated on Congress.gov.
Republican support was added to the bipartisan measure when Sen. Bernie Moreno (R-Ohio) became a cosponsor on Tuesday.
Prediction markets see little chance of a pardon
Following his conviction on fraud and conspiracy charges related to the 2022 collapse of FTX, Bankman-Fried received a 25-year federal prison sentence in March 2024.
After Bankman-Fried submitted a clemency application to Trump in June 2026, which appears as pending in Department of Justice records, speculation regarding a potential presidential pardon intensified.
Traders on Polymarket currently place the probability that Trump will grant a pardon to Bankman-Fried by July 31 at less than 1%. Despite these low odds, the market has generated more than $734,000 in trading volume, suggesting significant interest in the outcome.