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CM Punk won the World Heavyweight Championship at SummerSlam after he defeated the previous champion, Gunther. But his title reign was short lived as Seth Rollins cashed in his Money in the Bank contract instantly after he won the title and took the Championship away from him. That had been the only Championship run of Punk so far after he returned to WWE.
Seth Rollins recently suffered a shoulder injury, which is now going to keep him out of action for months. WWE stripped him of the Championship, and a new champion will be crowned at the upcoming Saturday Night's Main Event show on November 1. CM Punk will battle Jey Uso for the Championship at the mentioned event.

Scott D'Amore explains why CM Punk should not win the World Heavyweight Championship
TNA legend Scott D'Amore recently talked about this title picture and explained why Punk should not be winning the World Heavyweight Championship right now. During a new editorial column on “Uncrowned,” he explained the following on why Punk should not win the championship right now;
CM Punk and Jey Uso will fight for the World Heavyweight Championship at Saturday Night's Main Event
“On the other hand, putting the title back on CM Punk at Saturday Night’s Main Event isn’t what I’d do. It would be a pale imitation of his emotional win over Gunther at SummerSlam. Even though WWE is scrambling to fill the Seth Rollins-sized hole, I think Punk should spend more time chasing the belt.

The World Heavyweight Championship is now vacated
"There’s a bigger, more meaningful moment down the road. Last word on WWE’s World Heavyweight Championship: Stripping Seth Rollins, blaming his injury on Bron Breakker and Bronson Reed, and setting up a vacant title match at the next PLE was fine. Not inspired, but fine.” said Scott D'Amore, who was also the founder of Maple Leaf Pro Wrestling last year, which is a Canada based independent circuit wrestling promotion.
Jey Uso, on the other hand, is receiving major backlash on the internet, and his win last week on RAW was criticized heavily by the fans. In fact, this video on YouTube had been the third most disliked video of the year. The majority of the fans look to be on CM Punk's side on this occasion. But Triple H has always been a big admirer of Jey Uso. Things are quite unpredictable in this case.