How to increase the gap between legend items and border in ArcGIS Pro

After I inserted my first legend using ArcGIS Pro, I was horrify by how bad the default layout looks:

There is no gap between the legend items and the border!

It took me a good 40 mins to find out where I can change this:

1. Right click on your Legend and go to Properties:

2. On the Format Legend Pane, click on the third icon, you will be able to increase the gap here:

Now your Legend is looking reasonable: