Reports suggest that 16-time winner Mr. Chestnut was banned for taking an endorsement deal with Impossible Foods.
https://deepnewz.com/sports/16-time-winner-joey-chestnut-banned-2024-nathan-s-hot-dog-eating-contest-over

The market will resolve Yes if Chestnut competes at the July 4th annual Nathan's hot dog eating contest. Else it will resolve No. He must compete and win at least one hot dog, but needs not win.