The four remaining teams at VALORANT Champions 2026 in Shanghai—LOUD, Team Vitality, 100 Thieves, and G2 Esports—enter the final weekend with closely matched form after strong playoff runs that eliminated defending champions NRG and other contenders like T1. LOUD and Vitality meet in the upper-bracket final, while 100 Thieves and G2 clash in the lower bracket, creating multiple paths to the grand final on October 18. Recent best-of-three series have featured tight maps, strong individual performances, and regional depth from the Americas, preventing any single squad from pulling clear in trader consensus. This bracket structure and parity in map pools and recent results sustain the bunched implied probabilities across the top outcomes.