There's a New Favorite in the East After the Boston Celtics' Collapse

The second round is officially set, and the Eastern Conference playoff picture looks completely different after the conference’s top favorite was sent packing in stunning fashion.

The Boston Celtics' Epic First-Round Collapse

The Boston Celtics entered their first-round series with all the usual championship expectations and a bit of history on their side—they were 32-0 all-time when leading 3-1 in a playoff series. That streak is over.

A perfect storm knocked Boston out early: Joel Embiid’s return gave the Philadelphia 76ers new life, the Celtics suddenly forgot how to shoot from deep, and Jayson Tatum’s untimely ankle/knee injury removed Boston’s biggest offensive safety valve in a pivotal Game 7. Just like that, the 2024 champions were bounced before Round 2.

JOEL HANS EMBIID.

34 PTS | 12 REB | 6 AST@PALottery pic.twitter.com/a33IkDBgUh
— Philadelphia 76ers (@sixers) May 3, 2026

New Contenders in the East

With the Celtics eliminated and the Indiana Pacers in a rebuilding year following Tyrese Haliburton's injury, we are guarenteed to see two new teams in the Eastern Conference Finals.

The first round of the playoffs delivered absolute cinema.

There was star power, multiple nail-biters, buzzer-beaters, and a whopping three Game 7s. Philadelphia wasn’t even the only team to erase a 3-1 deficit. The top-seeded Detroit Pistons were staring down a shocking early exit after falling behind the Orlando Magic, but Cade Cunningham dragged Detroit back from the edge, pouring in 109 total points over the final three games of the series.

Cade Cunningham after going down 3-1:

45 PTS in Game 5 win
32 PTS in Game 6 win
32 PTS in Game 7 win

Only Cade and SGA are averaging 30+ PPG in the playoffs.

Pistons survive the No. 8 seed Magic.pic.twitter.com/MUWBc8EVwp
— Underdog NBA (@UnderdogNBA) May 3, 2026

Despite owning the East’s best regular-season record and advancing to face the Cleveland Cavaliers—who are also coming off a Game 7 win over the Toronto Raptors—the Pistons still aren’t the favorite to win the conference.

That honor now belongs to the New York Knicks.

Eastern Conference Champion Probabilities Entering Round 2

Eastern Conference Champion Odds Ahead of Round 2 — Kalshi

Fresh off a statement 51-point road demolition of the Atlanta Hawks in Game 6, New York has surged to the top of the board. According to Kalshi, the Knicks now hold a 37% chance to reach the NBA Finals heading into Game 1 against the Philadelphia 76ers.

The rest of the Eastern Conference market currently sits as follows:

Detroit Pistons: 26%
Cleveland Cavaliers: 25%
Philadelphia 76ers: 13%

It’s not hard to understand why the market is bullish on New York.

Why New York Is the New Eastern Conference Favorite Despite A Tough Second-Round Series Against The Sixers

The Knicks suddenly look like a team with answers for just about everything. They can run the offense through Karl-Anthony Towns, who has caught fire at the perfect time with two triple-doubles over the final three games of the first-round series. They can hand the keys to Jalen Brunson, who reminded everyone why he’s the heartbeat of this team with 39 points in a dominant Game 5 performance.

Then there’s OG Anunoby, who was arguably New York’s MVP in Round 1.

Anunoby averaged 21.5 points, 8.7 rebounds, 1.8 steals, and 1.2 blocks while shooting an absurd 61.1% from the field and 56.7% from three. He’s not just defending opposing stars at an elite level—he’s playing the best offensive basketball of his career at the exact right time.

It was the 'OG Anunoby Show' in Atlanta tonight!

😤 29 PTS
😤 7 REB
😤 4 STL
😤 4 3PM
😤 11-14 FGM

The @nyknicks advance to Round 2 of the NBA Playoffs presented by @Google! pic.twitter.com/iNiVEMnYUe
— NBA (@NBA) May 1, 2026

Josh Hart remains Josh Hart: accumulating rebounds at a dizzying pace for a guard, annoying opponents on defense, and generally doing all the stuff winning teams need that don’t always show up in the box score. Mikal Bridges finally found his postseason rhythm with 24 points in the closeout game against the Hawks. And unlike past Knicks playoff teams, this roster actually has depth.

Mitchell Robinson continues to dominate the glass offensively while protecting the rim. Jose Alvarado brings his usual chaos and energizer bunny style. Jordan Clarkson gives New York instant offensive firepower off the bench. This isn’t a one-man show or a thin playoff rotation anymore.

New York Knicks center Mitchell Robinson (23) reacts after scoring during the first half against the Boston Celtics at Madison Square Garden. | Lucas Boland-Imagn Images

Meanwhile, Philadelphia is still heavily reliant on its top-end talent.

When healthy, the Sixers can absolutely scare anyone. A lineup featuring Tyrese Maxey, rookie VJ Edgecombe, Paul George, Kelly Oubre Jr., and the aforementioned Joel Embiid is loaded with talent. The problem is what comes after that.

In Game 7 against Boston, head coach Nick Nurse essentially leaned on a seven-man rotation. Quentin Grimes was the only reserve to log double-digit minutes, while Andre Drummond played just eight minutes.

That’s a red flag in a seven-game series.

Depth matters more as a series drags on, especially when Embiid is involved. His injury history is always part of the equation, and conditioning remains a question mark. I was at Game 7 in Boston, and Embiid looked completely gassed over the final two minutes. The Sixers were lucky that the Celtics missed 11 of their last 12 shots. If just two of those open looks fell, we’re looking at a completely different second round.

Can The Knicks Contain Joel Embiid?

Philadelphia 76ers center Joel Embiid (21) against the Boston Celtics during the second half at Xfinity Mobile Arena. | Eric Hartline-Imagn Images

Boston never really had the personnel to consistently deal with Embiid inside. Jaylen Brown was guarding him down the stretch in Game 7. Embiid’s half-a-foot size advantage led to several easy looks near the rim.

However, the Knicks match up with him much better.

New York can throw both Towns and Robinson at the former MVP, giving them two legitimate interior bodies to make life miserable in the paint. Even without Towns two years ago, New York knocked Philadelphia out in six games during their first-round matchup.

Karl-Anthony Towns joins Wilt Chamberlain (9) as the only 7-footers in NBA history with multiple postseason triple-doubles 🔥

Big men making big plays 💪 pic.twitter.com/fa8wHQ0L7j
— ESPN Insights (@ESPNInsights) May 1, 2026

Yes, these are very different rosters now than they were in 2023-24, but stylistically, the Knicks still look like a nightmare matchup for Philly.

If Embiid isn’t dropping 30-plus per night, Philadelphia could be in serious trouble.

That’s why the market is flooding toward New York right now.

The Knicks haven’t reached the NBA Finals since 1999. They haven’t won a championship since 1973. Ending both droughts would require a lot to break their way.

But for the first time in a long time, one of those goals feels very realistic, if not probable.

Accuracy note: Market data referenced in this article reflects information as of Monday, May 4, 2026. Prediction market prices are live and shift continuously. Always verify current information directly at Kalshi.com and Polymarket.com before trading.

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