diff --git a/go.mod b/go.mod
index b15a6e709..01b8ead1b 100644
--- a/go.mod
+++ b/go.mod
@@ -14,9 +14,9 @@ require (
 	k8s.io/apimachinery v0.34.3
 	k8s.io/client-go v0.34.3
 	knative.dev/client/pkg v0.0.0-20260128022831-382000a93f17
-	knative.dev/hack v0.0.0-20260120115810-bf6758cba446
-	knative.dev/networking v0.0.0-20260120131110-a7cdca238a0d
-	knative.dev/serving v0.48.0
+	knative.dev/hack v0.0.0-20260420222011-c985ed3cefe8
+	knative.dev/networking v0.0.0-20260531001911-fd930fe9d2a8
+	knative.dev/serving v0.48.2
 )
 
 require (
@@ -106,7 +106,7 @@ require (
 	k8s.io/kube-openapi v0.0.0-20250710124328-f3f2b991d03b // indirect
 	k8s.io/utils v0.0.0-20250604170112-4c0f3b243397 // indirect
 	knative.dev/eventing v0.48.0 // indirect
-	knative.dev/pkg v0.0.0-20260120122510-4a022ed9999a // indirect
+	knative.dev/pkg v0.0.0-20260531000007-011b23bf6dfe // indirect
 	sigs.k8s.io/gateway-api v1.1.0 // indirect
 	sigs.k8s.io/json v0.0.0-20241014173422-cfa47c3a1cc8 // indirect
 	sigs.k8s.io/kustomize/api v0.20.1 // indirect
diff --git a/go.sum b/go.sum
index ce16d1a53..49109cfdb 100644
--- a/go.sum
+++ b/go.sum
@@ -336,14 +336,14 @@ knative.dev/client/pkg v0.0.0-20260128022831-382000a93f17 h1:O4mAFhRVrkaLDpV6+Ag
 knative.dev/client/pkg v0.0.0-20260128022831-382000a93f17/go.mod h1:caMRh61CKhuh81z9sLzjv4kXFvxgZaXUlwKyfUoozQY=
 knative.dev/eventing v0.48.0 h1:jBwRXnhhfJ4S5EfBSgkhJzqtcfOIr8kfG1qoaXX56KA=
 knative.dev/eventing v0.48.0/go.mod h1:QcPwZqLMwN1hyDXRdCCt7GCR2R+4cDULGoJf1LKuGEE=
-knative.dev/hack v0.0.0-20260120115810-bf6758cba446 h1:Y8raYHIuAL9/gUKGYD9/dD+EqUTmrpqVDowzfUVSlGs=
-knative.dev/hack v0.0.0-20260120115810-bf6758cba446/go.mod h1:L5RzHgbvam0u8QFHfzCX6MKxu/a/gIGEdaRBqNiVbl0=
-knative.dev/networking v0.0.0-20260120131110-a7cdca238a0d h1:QQ5QeH5MZlYdu6gRGGjmEBQ/CVoatiXKnVIrUoKlj4U=
-knative.dev/networking v0.0.0-20260120131110-a7cdca238a0d/go.mod h1:mZD2edO8op3zI6yLOn1yoz8xqbyZfrrDOJCbYElMEKs=
-knative.dev/pkg v0.0.0-20260120122510-4a022ed9999a h1:9f29OTA7w/iVIX6PS6yveVVzNbcUS74eQfchVe8o2/4=
-knative.dev/pkg v0.0.0-20260120122510-4a022ed9999a/go.mod h1:Tz3GoxcNC5vH3Zo//cW3mnHL474u+Y1wbsUIZ11p8No=
-knative.dev/serving v0.48.0 h1:1I5WVW6fPvzMVtAouaWFrRjRpSBAyfzSx4vZRjJtrm4=
-knative.dev/serving v0.48.0/go.mod h1:d9DFPD83Ce82LjYRkeRFRdISBhYficFp/OBUv5M6bLo=
+knative.dev/hack v0.0.0-20260420222011-c985ed3cefe8 h1:IrUBuFRxzqUm+f//hY6XGPzXozcoXD/dSsqcid84/Eg=
+knative.dev/hack v0.0.0-20260420222011-c985ed3cefe8/go.mod h1:L5RzHgbvam0u8QFHfzCX6MKxu/a/gIGEdaRBqNiVbl0=
+knative.dev/networking v0.0.0-20260531001911-fd930fe9d2a8 h1:/gLAOhyTDNFzMvM+xNiF0Ke8z2ZFt1KGeoZlWThNoxo=
+knative.dev/networking v0.0.0-20260531001911-fd930fe9d2a8/go.mod h1:w2fyPSKswLWbPTm/Qb98rKHHFVSV1W0ix/0c/Z9Aqjk=
+knative.dev/pkg v0.0.0-20260531000007-011b23bf6dfe h1:Qu7Nt4pvpZ7wfoc7qP0BNsVfMECObzAerv5xD1Ml42s=
+knative.dev/pkg v0.0.0-20260531000007-011b23bf6dfe/go.mod h1:Tz3GoxcNC5vH3Zo//cW3mnHL474u+Y1wbsUIZ11p8No=
+knative.dev/serving v0.48.2 h1:CdPvTytMt1wGoKI9hsM5QU1bolUIwkhBGbGojx2l4f4=
+knative.dev/serving v0.48.2/go.mod h1:FU3/8pwL5elucPXG0Yo2HT4HMCqS+5sz5eByYugn0Vg=
 sigs.k8s.io/gateway-api v1.1.0 h1:DsLDXCi6jR+Xz8/xd0Z1PYl2Pn0TyaFMOPPZIj4inDM=
 sigs.k8s.io/gateway-api v1.1.0/go.mod h1:ZH4lHrL2sDi0FHZ9jjneb8kKnGzFWyrTya35sWUTrRs=
 sigs.k8s.io/json v0.0.0-20241014173422-cfa47c3a1cc8 h1:gBQPwqORJ8d8/YNZWEjoZs7npUVDpVXUUOFfW6CgAqE=
diff --git a/vendor/knative.dev/hack/library.sh b/vendor/knative.dev/hack/library.sh
index 447484b6d..c0a536f8a 100644
--- a/vendor/knative.dev/hack/library.sh
+++ b/vendor/knative.dev/hack/library.sh
@@ -35,6 +35,13 @@ if [[ ! -v GOPATH ]]; then
   fi
 fi
 
+# Pinned tool versions
+readonly GUM_VERSION="v0.14.1"
+readonly GOTESTSUM_VERSION="v1.13.0"
+readonly GOTESTFMT_VERSION="v2.5.0"
+readonly TERMINAL_TO_HTML_VERSION="v3.10.0"
+readonly GO_LICENSES_VERSION="v2.0.1"
+
 # Useful environment variables
 [[ -v PROW_JOB_ID ]] && IS_PROW=1 || IS_PROW=0
 readonly IS_PROW
@@ -265,7 +272,7 @@ function gum_banner() {
 
 # Simple info banner for logging purposes.
 function gum_style() {
-  go_run github.com/charmbracelet/gum@v0.14.1 style "$@"
+  go_run "github.com/charmbracelet/gum@${GUM_VERSION}" style "$@"
 }
 
 # Checks whether the given function exists.
@@ -588,7 +595,7 @@ function report_go_test() {
   logfile="${logfile/.xml/.jsonl}"
   echo "Running go test with args: ${go_test_args[*]}"
   local gotest_retcode=0
-  go_run gotest.tools/gotestsum@v1.13.0 \
+  go_run "gotest.tools/gotestsum@${GOTESTSUM_VERSION}" \
     --format "${GO_TEST_VERBOSITY:-testname}" \
     --junitfile "${xml}" \
     --junitfile-testsuite-name relative \
@@ -601,14 +608,14 @@ function report_go_test() {
   echo "Test log (JSONL) written to ${logfile}"
 
   ansilog="${logfile/.jsonl/-ansi.log}"
-  go_run github.com/gotesttools/gotestfmt/v2/cmd/gotestfmt@v2.5.0 \
+  go_run "github.com/gotesttools/gotestfmt/v2/cmd/gotestfmt@${GOTESTFMT_VERSION}" \
     -input "${logfile}" \
     -showteststatus \
     -nofail > "$ansilog"
   echo "Test log (ANSI) written to ${ansilog}"
 
   htmllog="${logfile/.jsonl/.html}"
-  go_run github.com/buildkite/terminal-to-html/v3/cmd/terminal-to-html@v3.10.0 \
+  go_run "github.com/buildkite/terminal-to-html/v3/cmd/terminal-to-html@${TERMINAL_TO_HTML_VERSION}" \
     --preview < "$ansilog" > "$htmllog"
   echo "Test log (HTML) written to ${htmllog}"
 
@@ -921,10 +928,10 @@ function run_kntest() {
 }
 
 # Run go-licenses to check for forbidden licenses.
+# Extra flags can be passed via the GO_LICENSES_FLAGS environment variable.
 function check_licenses() {
-  # Check that we don't have any forbidden licenses.
-  go_run github.com/google/go-licenses@v1.6.0 \
-    check "${REPO_ROOT_DIR}/..." || \
+  go_run "github.com/google/go-licenses/v2@${GO_LICENSES_VERSION}" \
+    check ${GO_LICENSES_FLAGS:-} "${REPO_ROOT_DIR}/..." || \
     { echo "--- FAIL: go-licenses failed the license check"; return 1; }
 }
 
diff --git a/vendor/knative.dev/pkg/tracker/enqueue.go b/vendor/knative.dev/pkg/tracker/enqueue.go
index 88d0254b3..f04928d3c 100644
--- a/vendor/knative.dev/pkg/tracker/enqueue.go
+++ b/vendor/knative.dev/pkg/tracker/enqueue.go
@@ -277,8 +277,8 @@ func (i *impl) GetObservers(obj interface{}) []types.NamespacedName {
 				keys = append(keys, key)
 			}
 		}
-		if len(s) == 0 {
-			delete(i.exact, ref)
+		if len(ms) == 0 {
+			delete(i.inexact, ref)
 		}
 	}
 
@@ -309,7 +309,7 @@ func (i *impl) OnDeletedObserver(obj interface{}) {
 	for ref, matchers := range i.inexact {
 		delete(matchers, key)
 		if len(matchers) == 0 {
-			delete(i.exact, ref)
+			delete(i.inexact, ref)
 		}
 	}
 }
diff --git a/vendor/modules.txt b/vendor/modules.txt
index b6b3e82fe..322354193 100644
--- a/vendor/modules.txt
+++ b/vendor/modules.txt
@@ -983,10 +983,10 @@ knative.dev/eventing/pkg/client/clientset/versioned/typed/sources/v1
 knative.dev/eventing/pkg/client/clientset/versioned/typed/sources/v1/fake
 knative.dev/eventing/pkg/crossnamespace
 knative.dev/eventing/pkg/eventingtls
-# knative.dev/hack v0.0.0-20260120115810-bf6758cba446
+# knative.dev/hack v0.0.0-20260420222011-c985ed3cefe8
 ## explicit; go 1.24
 knative.dev/hack
-# knative.dev/networking v0.0.0-20260120131110-a7cdca238a0d
+# knative.dev/networking v0.0.0-20260531001911-fd930fe9d2a8
 ## explicit; go 1.24.0
 knative.dev/networking/pkg/apis/networking
 knative.dev/networking/pkg/apis/networking/v1alpha1
@@ -998,7 +998,7 @@ knative.dev/networking/pkg/client/clientset/versioned/typed/networking/v1alpha1/
 knative.dev/networking/pkg/config
 knative.dev/networking/pkg/http/header
 knative.dev/networking/pkg/ingress
-# knative.dev/pkg v0.0.0-20260120122510-4a022ed9999a
+# knative.dev/pkg v0.0.0-20260531000007-011b23bf6dfe
 ## explicit; go 1.24.0
 knative.dev/pkg/apis
 knative.dev/pkg/apis/duck
@@ -1041,7 +1041,7 @@ knative.dev/pkg/test/ingress
 knative.dev/pkg/test/logging
 knative.dev/pkg/test/spoof
 knative.dev/pkg/tracker
-# knative.dev/serving v0.48.0
+# knative.dev/serving v0.48.2
 ## explicit; go 1.24.0
 knative.dev/serving/pkg/apis/autoscaling
 knative.dev/serving/pkg/apis/autoscaling/v1alpha1