Ongoing circulation of JN.1-descendant lineages such as XFG and NB.1.8.1, along with monitored strains like BA.3.2, has not produced a variant meeting WHO criteria for designation as a new Variant of Concern. Vaccine advisory panels have responded by updating 2026-2027 formulations to match dominant strains like XFG, while genomic and wastewater surveillance shows these lineages co-circulating without rapid dominance or increased severity. This pattern of incremental evolution within existing Omicron sublineages, rather than abrupt shifts requiring reclassification, underpins trader consensus reflected in the 77% implied probability for no new designation before 2027. Further mutations could still alter trajectories, but current evidence favors continued stability through the period.