President Joe Biden will award former U.S. Rep. Liz Cheney (R-WY) and Rep. Bennie Thompson (D-MS) with the Presidential Citizens Medal during a White House ceremony Thursday evening at 5 p.m. The award recognizes their leadership of the House select committee that investigated the January 6, 2021, Capitol attack.

The Presidential Citizens Medal, established by President Richard Nixon in 1969, is the second-highest civilian honor after the Presidential Medal of Freedom. It recognizes U.S. citizens who have performed exemplary service for their country or fellow citizens.

The awards come as Biden enters his final 18 days in office. President-elect Donald Trump has previously threatened legal action against January 6th committee members, stating on NBC's "Meet the Press" that "they should go to jail."

Political betting markets currently give Cheney a 12-13% chance of receiving a presidential pardon before Biden leaves office. Jim Biden, the president's older brother, has the highest odds at 20% for a potential pardon.

Trump, who has claimed he would be "the chief law enforcement officer" as president, has suggested he may pursue legal action against political opponents, though he added he's "not interested in that."

The ceremony marks one of Biden's final acts in office as he continues to issue pardons and awards, including recent controversial decisions to commute 37 death row sentences and pardon his son Hunter Biden for potential offenses between 2014-2024.

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