Preseason polls and projections position Ohio State, Georgia, Texas, Oregon, and Notre Dame as the clearest favorites to reach the College Football Playoff semifinals, driven by elite returning talent, top recruiting classes, and favorable schedules in the expanded 12-team format. The Power Four conference champions receive automatic bids, while the selection committee seeds the field, with the top four earning byes into the Orange and Sugar Bowls. Recent coaching stability and depth advantages for these programs have shaped early trader consensus, though the full 2026 slate—including nonconference tests and conference title races—will determine final positioning. Upset potential remains for teams like Miami, Indiana, or Texas A&M if they navigate tough Big Ten or SEC slates without major injuries.