The Late Show may be cancelled, but Stephen Colbert is still on the air until May 2026 — and he's not holding back.

The host spends the vast majority of the monologue above talking about Donald Trump, who recently gloated about Colbert's cancellation, and the president's past friendship with convicted child sex offender Jeffrey Epstein.

"The more we know about Trump's relationship with Epstein, the more we wish we didn't. According to court records, Trump flew on Epstein's plane at least seven times. Now, that doesn't mean he did anything illegal, but it's not a great look when you fly on the paedophile's plane enough times to earn Diamond Pervert status," says Colbert, before going on to play a resurfaced clip of Trump on The Howard Stern Show in 2006 saying, "No, I have no age...I mean, I have age limit" when it comes to women, before quickly adding, "I don’t want to be like Congressman Foley, with, you know, 12-year-olds."

"Wow, that is not a great answer," says Colbert. "That is one of those questions where you don't want to leave any ambiguity. 'Sir, would you ever have sex with an animal?' 'Certainly not a horse! Good day.'"