diff --git a/CHANGELOG.md b/CHANGELOG.md
index b15c06dbe2..602b1129d7 100644
--- a/CHANGELOG.md
+++ b/CHANGELOG.md
@@ -2,6 +2,21 @@
 
 <!-- insert new changelog below this comment -->
 
+## [0.8.6] - 2026-05-06
+
+### Changed
+
+- Load constitution context in `/speckit.implement` to enforce governance during implementation (#2460)
+- feat: improve catalog submission templates and CODEOWNERS (#2401)
+- fix: validate URL scheme in build_github_request (#2449)
+- Add Architecture Guard to community catalog (#2430)
+- Add multi-model-review extension to community catalog (#2446)
+- Update Ralph Loop to v1.0.2 (#2435)
+- Pin GitHub Actions by SHA (#2441)
+- fix(workflows): require project for catalog list (#2436)
+- Add agent-parity-governance to community catalog (#2382)
+- chore: release 0.8.5, begin 0.8.6.dev0 development (#2447)
+
 ## [0.8.5] - 2026-05-04
 
 ### Changed
diff --git a/pyproject.toml b/pyproject.toml
index dd2e597e95..cfeaf74fc2 100644
--- a/pyproject.toml
+++ b/pyproject.toml
@@ -1,6 +1,6 @@
 [project]
 name = "specify-cli"
-version = "0.8.6.dev0"
+version = "0.8.7.dev0"
 description = "Specify CLI, part of GitHub Spec Kit. A tool to bootstrap your projects for Spec-Driven Development (SDD)."
 requires-python = ">=3.11"
 dependencies = [