During the Gearbox Software PAX East 2019 panel, the company revealed the next Borderlands game. Borderlands 3 is in development. At the moment, only an almost four minute reveal trailer showing off the four new characters and the different allies and enemies they will encounter is available, but there is a promise that more information will arrive on April 3, 2019.
Here is the Borderlands 3 reveal trailer. It looks at both new and returning characters, like Tiny Tina and Claptrap, notes that people will explore worlds, and confirms there will be over a billion weapons.
Borderlands 3 is in development.