Henry Cejudo is an underdog for what could be his final fight at UFC 323.

Henry Cejudo vs. Payton Talbott preview

Cejudo (16-5 MMA, 10-5 UFC) is winless since coming out of retirement in 2023. The former UFC dual champion is on a three-fight losing skid, most recently dropping a technical decision to Song Yadong after an eye poke rendered him unable to continue at UFC Fight Night 252 in February.

Talbott (10-1 MMA, 4-1 UFC) will look to enter the UFC's bantamweight rankings. After suffering his first-career loss to Raoni Barcelos at UFC 311, the 27-year-old rebounded with a unanimous decision win over Felipe Lima at UFC 317 in June.

Henry Cejudo vs. Payton Talbott odds

According to BetMGM, Cejudo is a +225 underdog against rising star Talbott, who is a -275 favorite.

How to watch Henry Cejudo vs. Payton Talbott

Where: T-Mobile Arena, Las Vegas, Nevada

Broadcast/streaming: ESPN+ pay-per-view

When: Saturday, Dec. 6, 2025

This article originally appeared on MMA Junkie: Henry Cejudo vs. Payton Talbott: UFC 323 betting odds and more info