Enhanced global surveillance systems and containment of localized outbreaks underpin the 89.5% market-implied odds against a new pandemic in 2026. As of mid-June, CDC data show COVID-19 emergency visits at just 0.1% with Rt estimates near 0.98 and declining transmission in most states, while WHO reports confirm only contained Ebola (Bundibugyo virus) activity in the DRC and Uganda plus low-risk hantavirus detections without sustained human-to-human respiratory spread or exponential growth meeting pandemic thresholds. Post-COVID preparedness, including rapid response protocols and sentinel monitoring, has limited zoonotic spillovers, though climate-driven risks and potential novel variants remain variables that could shift consensus before year-end.