Trump to Pardon Elon Musk Soon? Crypto Punters Bet as Ross Gerber Calls GOP Midterm Loss 'Worst Possible Outcome' for SpaceX CEO Aniket Verma Wed, November 4, 2026 at 9:47 PM EST 2 min read SPCX -5.17% POLA.PVT TSLA -4.58% POL/USD Explore stocks on Coinbase Trading disclosure Trading disclosure The above button links to Coinbase. Yahoo Finance is not a broker-dealer or investment adviser and does not offer securities or cryptocurrencies for sale or facilitate trading. Coinbase pays us for certain activity generated through this link. Prices displayed are informational.
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Cryptocurrency punters think President Donald Trump is most likely to pardon Elon Musk, as veteran investor Ross Gerber said the Republican midterm defeat could create problems for the world's richest person.
The Betting crowd on Polygon (CRYPTO: POL)-based Polymarket sees a 15% chance that Musk receives a presidential pardon before 2027, above jailed cryptocurrency fraudsters, Keonne Rodriguez and Ryan Salame.
Under U.S. law, a president can issue a pardon for federal offenses even before formal criminal charges are filed.
Trump said Monday he would "protect" the Tesla Inc. (NASDAQ:TSLA) and Space Exploration Technologies Corp. (NASDAQ: SPCX) CEO if Democrats pursued efforts to arrest him after the midterm elections.
Sen. Adam Schiff (D-CA) hit back, saying that Trump wants to give his cronies and enablers "blanket immunity" for any criminal conduct.
Read Also:Elon Musk Gets Double Miss From 2026 Midterm Elections: $474 Million Donated, Net Worth Drops by $23 Billion
Musk also invested heavily in the 2026 midterm elections, with an estimated $474 million spent to help the Republican Party
Contrary to expectations, most of the candidates Musk supported lost their races. A Democratic majority could likely mean that Musk could face congressional hearings moving forward.
Newly elected Senator Abdul El-Sayed recently said that Musk should be held accountable, especially for how the Department of Government Efficiency operated.
Gerber, CEO of Gerber Kawasaki Wealth and Investment Management and a prominent Tesla investor, said that the Republican defeat is "probably the worst possible outcome" for Musk.
Probably the worst possible outcome for Elon Musk.
— Ross Gerber (@GerberKawasaki) November 4, 2026
Price Action: SpaceX shares closed 3.81% lower at $135.92 on Wednesday, according to Benzinga Pro. Tesla stock closed 3.34% lower at $385.19
SPCX's price trend remains weak in the short, medium and long terms, according to Benzinga's Edge Stock Rankings.
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This article Trump to Pardon Elon Musk Soon? Crypto Punters Bet as Ross Gerber Calls GOP Midterm Loss 'Worst Possible Outcome' for SpaceX CEO originally appeared on Benzinga.com
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