WWE SummerSlam 2026 delivered arguably the biggest bout WWE could possibly do in CM Punk vs. Cody Rhodes.
A true dream match that was once set for WrestleMania 43, Punk vs. Rhodes pinned two WWE cornerstones against one another a few years after their infamous departures from AEW. In the weeks leading up to SummerSlam, Rhodes and Punk kept things relatively civil, but inside U.S. Bank Stadium, the gloves came off.
Punk and Rhodes went head-to-head for WWE’s biggest prize, the Undisputed WWE Championship, on Night One of SummerSlam 2026.
WWE SummerSlam 2026 Results For CM Punk Vs. Cody Rhodes
CM Punk is still the WWE Champion, thanks to a little help from an old rival.
At WWE SummerSlam, Punk retained his WWE Championship in an instant classic against his former fellow AEW star, Cody Rhodes. But he only did so thanks to a shocking return by Randy Orton, who RKO’d Rhodes and helped Punk keep championship gold around his waist.
Here are the biggest moments and key takeaways from Punk vs. Rhodes at WWE SummerSlam 2026:
- Punk and Rhodes locked up and then immediately started exchanging blows. Then, Punk took down Rhodes with a head scissors before locking in an armbar. Punk eventually tried to go for the GTS, but Rhodes wiggled out and caught Punk in a headlock.
- The slow pace continued for a while, but eventually, Punk took down Rhodes with a leaping heel kick and tweaked his knee. Punk hit his patented running knee and went for the running bulldog, but Rhodes countered with a knee breaker and began targeting Punk’s injured knee.
- Punk made a feeble comeback attempt, and as Rhodes went for the Disaster Kick, Punk responded with a big boot. There were battling chants for Punk and Rhodes, then Punk went to the top rope, which took him quite a while. Punk finally knocked Rhodes off the ropes and connected with his famous top rope elbow drop. That was enough for a close two-count.
- Rhodes avoided a GTS attempt and then connected with a Cody Cutter for a two-count as the crowd began to come alive. Rhodes then hit a Disaster Kick for two. Frustrated, Rhodes pulled down Punk’s kneepad and continued to target the injured knee. Cody went for a Super Cody Cutter and connected, but Punk kicked out at two again as Rhodes looked like he began to doubt himself.
- Rhodes attempted the Figure Four, but Punk avoided it and rolled up Rhodes for two. Punk nearly hit a GTS, but Cody avoided it as well and this time was able to lock in the Figure Four. As Punk screamed in agony, he was able to roll over and reverse the pressure before getting the rope break.
- Punk avoided the Figure Four yet again and rolled Rhodes into the Anaconda Vice, but Rhodes got the rope break as well. Punk lifted up Rhodes for the GTS again, but Rhodes escaped and nearly hit a spinning Alabama Slam. Punk countered, rolled through and locked in the Anaconda Vice once more. Rhodes eventually wiggled out of a jackknife cover and hit a Cross Rhodes, but Punk miraculously kicked out as the crowd erupted.
- Rhodes put Punk on the top rope, but Punk knocked him off to the ring canvas. Punk went for a moonsault, which looked sloppy, and Rhodes moved, mostly avoiding the impact. Punk hit a big clothesline for a close two-count and then went for the GTS. Rhodes avoided, and Punk went for it again. This time, he connected, but Punk’s injured knee delayed his pin attempt so Rhodes kicked out at two.
- Outside the ring, Punk bashed Rhodes’ head into the announce table repeatedly. Rhodes dropped Punk on the table with a swipe of the legs. Then, Punk picked up Rhodes and went for the GTS. Rhodes escaped and shoved Punk shoulder-first into the steel ring steps.
- Back in, Punk connected with the GTS again, but was too close to the ropes so Rhodes got the rope break at the very last second. Back outside, Punk jumped off the top rope as he attempted an elbow drop on the announce table, but Rhodes moved, sending Punk crashing through the announce table in devastating fashion.
- Inside the ring, Rhodes attempted another Cody Cutter, Punk moved in, and took out the ref. That allowed Punk to hit the GTS, and Rhodes collapsed back onto Punk’s shoulders. Punk went for the GTS again, Rhodes wiggled out and hit the Cross Rhodes, but Punk rolled out.
- That allowed a returning Randy Orton to roll into the ring and hit an RKO out of nowhere on Rhodes. Punk didn’t see any of it, but he rolled back into the ring, hit another GTS and pinned Rhodes for the 1-2-3.
WWE SummerSlam 2026 Results: What’s Next For CM Punk And Cody Rhodes?
The feud between Rhodes and Punk seemed destined to continue as a major attraction on WWE SmackDown. Then came the return of Randy Orton.
Following Punk’s move to the blue brand, WWE is reportedly constructing a SmackDown roster designed specifically to be built around Punk. That includes the recent NXT call-up of Ricky Saints as well as Raw stars Finn Balor and Gunther moving over to Friday nights. Eventually, Punk should cross paths with those stars yet again, and that opportunity has opened up thanks to the shocking return of Orton.
At WWE SummerSlam 2026, Punk retained his WWE Championship but only after Orton returned to target his WrestleMania opponent in Rhodes. That leaves the door open for the continuation of the blockbuster rivalry between Rhodes and Orton, who has been off TV for the past few months. WWE is wise to extend this feud and get the most out of a storyline between two of its top stars at a time when WWE’s TV product has been mediocre at best as Orton’s return should inject new life into SmackDown.
Rhodes and Punk are arguably WWE’s two best all-around performers, and they should get the chance to show that. They just don’t have to do that against each other.
Punk has put on some epic feuds since returning against the likes of Seth Rollins and Drew McIntyre, among others, and with Rhodes now busy with Orton again, he should get a chance to do that with another one of SmackDown’s finest.
Look for WWE to reignite Orton vs. Rhodes and keep it going well past SummerSlam as Punk moves on to new challengers on the blue brand.