While we're waiting to see what the Supreme Court does with former President Trump's application to stay the proceedings in the D.D.C. criminal case so that he can appeal the court of appeals' rejection of his motion to dismiss the indictment on "immunity" grounds," I have a new post up at Lawfare about why the substantive stakes of that argument are much less than what many might assume. In short, not only is the immunity argument meritless--it also shouldn't affect Trump's trial very much even if the Supreme Court resolved it in Trump's favor.