A federal grand jury in the Eastern District of North Carolina indicted former FBI Director James Comey on April 28, 2026, on two counts—threatening the President under 18 U.S.C. § 871 and transmitting a threat in interstate commerce—stemming from a May 2025 Instagram post of seashells interpreted as "86 47." This marks a second indictment after a September 2025 case for false statements and obstruction was dismissed on procedural grounds involving the prosecutor's appointment. Comey made his initial court appearance shortly after, placing the case in its early stages with no motions to dismiss filed. Traders' 85.5% implied probability on "No" reflects consensus that the Justice Department under the Trump administration will not drop charges by May 31 absent unforeseen legal challenges or rulings.