Carlos Ulberg holds an overwhelming 89% implied probability as the reigning UFC light heavyweight champion heading into the final months of 2026. He captured the vacant title with a first-round knockout of Jiří Procházka at UFC 327 in April despite tearing his ACL, then underwent surgery and has been ruled out for the rest of the year while targeting an early 2027 return. The UFC has not installed an interim champion, leaving the New Zealander as the undisputed titleholder with no scheduled defenses before year-end. Contenders such as Magomed Ankalaev and Procházka remain active but face uncertainty over any interim opportunities. An unexpected interim title bout or title vacancy could still shift the outcome before December 31.