The U.S. Senate has unanimously passed a nonbinding resolution stating that former FTX CEO Sam Bankman-Fried should not receive executive clemency. The measure reaffirms the Senate’s commitment to the rule of law and the integrity of the U.S. financial system, while opposing any form of federal relief for Bankman-Fried, including a presidential pardon or commutation.
The resolution was introduced on June 17 by Senator Ruben Gallego, with Senator Cynthia Lummis listed as a co-sponsor. As a simple Senate resolution, it does not require approval from the House or the president and carries no legal force.
Bankman-Fried was sentenced in March 2024 to 25 years in federal prison on fraud and conspiracy charges tied to the 2022 collapse of FTX. Speculation around possible clemency increased after he submitted a pardon request to Donald Trump in June 2026. Department of Justice records show that request remains pending. On Polymarket, traders currently assign less than a 1% chance that Trump will pardon Bankman-Fried before July 31, with trading volume in that market exceeding $734,000.
The U.S. Senate has passed a resolution opposing executive clemency for former FTX CEO Sam Bankman-Fried.
Nonbinding Senate measure clears unanimously
The measure says Bankman-Fried should not receive executive clemency and restates the Senate’s commitment to the rule of law and the integrity of the U.S. financial system.
Senator Ruben Gallego introduced the resolution on June 17, and Senator Cynthia Lummis joined as a co-sponsor. It opposes any federal clemency for Bankman-Fried, including a presidential pardon or a commutation.
A simple Senate resolution does not need approval from the House or the president and does not carry legal force.
Pardon request remains pending
Bankman-Fried was sentenced in March 2024 to 25 years in federal prison on fraud and conspiracy charges tied to the 2022 collapse of FTX.
Speculation increased after he applied to Donald Trump for a pardon in June 2026. Department of Justice records show the request is still pending.
Polymarket traders put odds below 1%
On Polymarket, traders currently place the probability that Donald Trump will pardon Bankman-Fried before July 31 at below 1%. Trading volume in that market has exceeded $734,000.
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