As Donald Trump prepares to assume office, Ross Ulbricht, the founder of Silk Road, may soon be free. Prediction markets such as Kalshi currently give Ulbricht a 79% chance of being pardoned, showing growing popularity.
During his campaign, Trump promised to commute Ulbricht’s sentence on the first day, claiming his belief that he has served enough time after more than 11 years in prison. Trump confirmed this vow during the Libertarian Party National Convention in May 2024, as well as the Bitcoin Conference in July.
Ulbricht launched Silk Road in 2011 as an online bazaar for goods and services, but it quickly became known for unlawful operations. Following a lengthy investigation, authorities arrested Ulbricht in 2013, taking 174,000 Bitcoin and closing the site. In 2015, he was sentenced to life in prison after being found guilty on numerous offenses, including running a criminal business and money laundering.
Ulbricht has received strong support from the bitcoin and libertarian groups, who believe his sentence is harsh. He recently expressed appreciation and trust in Trump, writing, “After 11-plus years in darkness, I can finally see the light of freedom at the end of the tunnel.”
Supporters are hoping that Trump would move fast, keeping his promise to commute Ulbricht’s sentence within his first 100 days in office. However, political uncertainties remain, as future power transfers may influence Trump’s ability to carry out his pro-crypto attitude.
As Inauguration Day approaches, activists are optimistic, eagerly anticipating Trump’s first moves in office.
