Latest Heisman Trophy 2026 Odds as Jeremiah Smith Rises, Arch Manning Falls

The 2026 Heisman Trophy race became clearer as Saturday's action unfolded.

Ohio State wide receiver Jeremiah Smith remains the Heisman favorite and improved his odds by hauling in two touchdown receptions during the No. 5 Buckeyes' 45-16 win over Maryland.

Meanwhile, Texas quarterback Arch Manning's Heisman Trophy hopes took a hit after the No. 1 Longhorns suffered a 27-24 upset loss to Oklahoma.

Here's a look at the updated Heisman odds, via FanDuel Sportsbook :

Drew Mestemaker, QB, Oklahoma State: +4000

Kamario Taylor, QB, Mississippi State: +5500

Smith has put together stellar performances on a weekly basis throughout his 2026 campaign and Saturday was no different.

He racked up 93 receiving yards and two scores on just four catches, which included a one-handed grab in the second quarter.

Smith has now amassed 916 receiving yards and 11 touchdowns in only six games, while the Buckeyes own a 5-1 record as well as a 3-0 mark in the Big Ten.

As for Manning, he had multiple costly turnovers as the Longhorns couldn't emerge victorious in the Red River Rivalry.

Manning finished 19-of-31 for 260 yards and three touchdowns, but he also tossed two interceptions. With the score tied 17-17 early in the fourth quarter, he threw a deep pass that resulted in a pick six.

Although Manning and the Longhorns' offense quickly responded with a 75-yard drive that ended with a touchdown to tie the score at 24, he threw another interception with just under 20 seconds left in the fourth.

The Sooners capitalized on the opportunity, picking up 33 yards in two plays before kicker Tate Sandell connected on a game-winning field goal as time expired.

Texas suffered its first defeat of the season, falling to 4-1.