Current low levels of high-consequence pathogen activity support the 83% market-implied odds against a new pandemic before 2028. CDC and WHO surveillance shows the Bundibugyo virus Ebola outbreak in the DRC and Uganda remains regionally contained with low U.S. or global importation risk, while COVID-19 circulates at very low endemic levels with no variants exhibiting major immune escape or severity increases. Seasonal respiratory viruses and isolated events like Andes hantavirus clusters follow expected patterns without exponential growth signals. Post-COVID improvements in genomic sequencing, wastewater monitoring, and international reporting reduce undetected spillover likelihood over the short timeframe, though zoonotic threats and surveillance gaps in lower-resource regions warrant continued vigilance.