CM Punk Loses NXT Title Match To Grayson Waller On WWE NXT Due to Kevin Owens

Kevin Owens made his presence known on this week’s WWE NXT as he cost CM Punk his NXT Championship match against Grayson Waller. Punk made a special appearance on Wednesday night’s show, battling Waller for the championship.

Waller held his own against the former Undisputed WWE Champion, but was in trouble late in the match as Punk took Waller down and hit an elbow off the top for two. Punk went for the GTS, but Owens showed up to cause the distraction. That allowed Waller to roll Punk up, grabbing the tights to get the pin and victory.

You can see clips from the WWE NXT match below. Punk is facing Owens on this week’s episode of WWE Smackdown in a No Holds Barred match. Meanwhile, Waller’s NXT Championship reign is now at 67 days, having won it in a Fatal Four-Way match at NXT Heatwave.

CM PUNK!!! 👊

What an AMAZING night!! @CMPunk pic.twitter.com/pae6GTzAsG

— WWE (@WWE) November 5, 2026

Classic PUNK!! 🤌@CMPunk pic.twitter.com/R4BFfEAc0o

— WWE (@WWE) November 5, 2026

These two men simply DO NOT like each other!! 😨 pic.twitter.com/XYs97Xlwu6

— WWE (@WWE) November 5, 2026

The DISTANCE 😱@CMPunk pic.twitter.com/EVDDBQtLp9

— WWE (@WWE) November 5, 2026

KO IS HERE 🤯

Kevin Owens has COST CM Punk, Grayson Waller RETAINS the NXT Title! pic.twitter.com/4ygtc4xvCI

— WWE (@WWE) November 5, 2026