The Oklahoma City Thunder hold the strongest implied probability in the 2026 NBA Championship market after posting the league’s best regular-season record and advancing undefeated through the first two playoff rounds with sweeps of the Suns and Lakers. Their depth, defensive versatility, and experience as defending champions have solidified trader consensus around a Western Conference Finals matchup against the San Antonio Spurs. The Spurs, buoyed by Victor Wembanyama’s continued development and a 62-20 regular-season mark, shortened after eliminating the Timberwolves in six games and now sit as the clearest threat in the West. In the East, the New York Knicks strengthened their position by dispatching the 76ers in four games, while the Cleveland Cavaliers and Detroit Pistons remain longer shots pending the outcome of their ongoing series.