Of course if she loses, she may be at the mercy of Obama, and beg for a pardon. At that point, it'll be up to Obama--their true relationship will be on the line at that point. If she has something on him (which she likely does), he may offer a pardon to keep her trap shut. If she has nothing on him, nothing prosecutable--why would he pardon her?
Or she may buy a pardon. That may be worth $100 million or so to the Obama Foundation.