Doctor Strange and the Multiverse of Madness wave (February 2022)

Assortment UPC: 5010993791170
Doctor Strange
Wong
Miss America
Master Mordo
Astral Doctor Strange
D'Spayre
Sleepwalker
BAF: Rintrah
X-Men wave (Spring 2022)

Return of Wolverine
Siryn
Maggott
Darwin
Vulcan
First appearance Sabretooth
Classic Havok
BAF: Bonebreaker
Avengers wave (Spring 2022)
U.S. Agent
Blue Marvel
Quake
Herald of Thunder Thor
Iron Man Model 70
Speedball
Madame Hydra
BAF: The Controller
Thor: Love and Thunder wave (April)
Thor
Mighty Thor (Jane Foster)
King Valkyrie
Gorr the God Butcher
Star-Lord
Teen Groot
Ravager Thor
BAF: Korg
Box Sets
MCU Peter Parker and Ned Leeds
Disney + wave/figures (2023?)

Much thanks to JT Prime for both these, the Thor and Black Panther listings. The remaining three figures are said to be comic based. Moon Knight, She-Hulk, Secret Invasion and Ms. Marvel all drop next year; there'll likely be an additional two waves to feature those characters, or at least a number of additional store exclusives and/or box sets.
Bow - Hawkeye
Arrow - Kate Bishop
Clover - Ms. Marvel
Mumbai - Moon Knight
Jersey
Madrid - Mr. Knight
Anchorage
BAF: Infinity Ultron
Black Panther Collection

Rereleases of Black Panther, Killmonger, Nakia and Shuri from the first film
Black Panther: Wakanda Forever wave (Fall 2022)


-Good Night 6 - Comic Black Panther
-Sleeptight 7 - Comic Hatut Zeraze army builder
Marvel Legends 20th anniversary promotion:

Captain America
"Horn Head" armor Iron Man
Hulk
Toad
Line rumored to span throughout the year and include various other updates of ToyBiz Legends.
Spider-Man 60th anniversary promotion


Iron Spider
Deluxe Rhino
Future Foundation Spider-Man
Silk and Doc Ock
Knull and Venom 2-pack
1st Appearance Amazing Fantasy Spider-Man
Renew Your Vows Spinneret and Spider-Man
70s Spider-Man (rumored)
Into the Spider-Verse Peni Parker & Spider-Man Noir (rumored)
STAS Spider-Man (rumored)
Tobey Maguire Spider-Man and Andrew Garfield Spider-Man (2023)
Target exclusives
Defender Strange
Ragnarok
Spider-Man Noir
Walgreens exclusives (TBA 2022)

Classic Baron Zemo
Jigsaw
The rest of the year will follow a villain theme.
Walmart exclusives:

Classic Doctor Strange (Thanks to Crusher Creel for pointing this one out, I'd forgotten it!)
Ulik
Retro Lizard
Hasbro Pulse exclusives:
X-Men 92 Wolverine
X-Men 92 Jubilee
X-Men 92 Mr. Sinister
X-Men 92 Storm
X-Men 92 Jean Grey
TBA


Someone coming with a stick or truncheon of some kind
Some sort of figure with a lab coat.
SPECULATION/EDUCATED GUESSES
Spider-Man: No Way Home wave 2/other release

It's pretty much inevitable. The first wave contained none of the villains for the movie.
At the very least I think it's likely we get Doc Ock, Green Goblin and Electro. Lizard I could see if they retool the old 2012 Amazing Spider-Man figure. Sandman is a bigger question mark but perhaps as a BAF like Molten Man.
Retro Iron Man wave (June)


This one kinda came outta nowhere; Rektangular claims there are store codes hinting at a Spring release for something called Classic Legends Iron Man.
No idea what could be in this wave other than an obligatory Modular repaint in more "comic booky" red and yellow, possibly with an alternate cartoon-inspired head, and the classic Mandarin I'd previously suspected would be a Walgreens exclusive. Shang-Chi raised the character's mainstream profile significantly, he's a character collectors have been asking for from Hasbro for years now, and it just makes too much sense.
Something for the upcoming Insomniac Spider-Man sequel

We already have Peter and Miles, and there's been increasing precedent for Gamerverse stuff. I expect at least an updated Spider-Man (maybe a deluxe release with the bionic back legs) and maybe Venom.
Movie Carnage

Nothing earth shattering here. The movie was a hit and just about every other toy company including Hot Toys and Funko have already made him. Given we eventually got movie Venom after a delay, I think there's a good chance Carnage is released to round out the duo.
Into the Spider-Verse 2 wave

We got a wave for the first movie, albeit after much delay. That's the only reason I'm mixed on the prospect of this; given how long it took to get the first wave, I wouldn't be surprised if there was another wait on these until at least next year.
Kind of another no brainer. We got toys for the anniversary of the X-Men movies, and both Dwight and Ryan had said last year they were interested in doing something for the anniversary of the first Raimi movie if legal stuff allowed it. Given some of those characters are returning for No Way Home, this could be a potential way to reuse parts as well.