Apple released iOS 5 Beta 7 to developers this afternoon, and the good news is that the latest beta can already be jailbroken with RedSn0w. Actually, the RedSn0w beta that was released for iOS 5 Beta 6 will also jailbreak Beta 7.
MuscleNerd dropped the news on Twitter:
“Today’s iOS5b7 can be JB with last night’s redsn0w b7,  but point it at b6 IPSW”
You can find RedSn0w Beta 7 in our downloads section. To jailbreak with RedSn0w, refer to our tutorial. Make sure you point RedSn0w to the Beta 6 IPSW to jailbreak iOS 5 Beta 7. The jailbreak is still tethered.
Feel free to ask any questions in the comments. And let us know what you find in iOS 5 Beta 7!