diff --git a/readme.html b/readme.html
index e38b5c6b49..2fa24a4001 100644
--- a/readme.html
+++ b/readme.html
@@ -51,7 +51,7 @@
 
 <h2>System Requirements</h2>
 <ul>
-	<li><a href="https://secure.php.net/">PHP</a> version <strong>7.0</strong> or greater.</li>
+	<li><a href="https://secure.php.net/">PHP</a> version <strong>7.2.24</strong> or greater.</li>
 	<li><a href="https://www.mysql.com/">MySQL</a> version <strong>5.5.5</strong> or greater.</li>
 </ul>
 
diff --git a/wp-admin/includes/misc.php b/wp-admin/includes/misc.php
index f950821b1d..7794183d6e 100644
--- a/wp-admin/includes/misc.php
+++ b/wp-admin/includes/misc.php
@@ -1647,8 +1647,8 @@ function wp_check_php_version() {
 
 	$response['is_lower_than_future_minimum'] = false;
 
-	// The minimum supported PHP version will be updated to 7.2. Check if the current version is lower.
-	if ( version_compare( $version, '7.2', '<' ) ) {
+	// The minimum supported PHP version will be updated to 7.4 in the future. Check if the current version is lower.
+	if ( version_compare( $version, '7.4', '<' ) ) {
 		$response['is_lower_than_future_minimum'] = true;
 
 		// Force showing of warnings.
diff --git a/wp-includes/compat.php b/wp-includes/compat.php
index 95c4af484d..b4ef3d2f67 100644
--- a/wp-includes/compat.php
+++ b/wp-includes/compat.php
@@ -359,23 +359,6 @@ if ( ! function_exists( 'is_countable' ) ) {
 	}
 }
 
-if ( ! function_exists( 'is_iterable' ) ) {
-	/**
-	 * Polyfill for is_iterable() function added in PHP 7.1.
-	 *
-	 * Verify that the content of a variable is an array or an object
-	 * implementing the Traversable interface.
-	 *
-	 * @since 4.9.6
-	 *
-	 * @param mixed $value The value to check.
-	 * @return bool True if `$value` is iterable, false otherwise.
-	 */
-	function is_iterable( $value ) {
-		return ( is_array( $value ) || $value instanceof Traversable );
-	}
-}
-
 if ( ! function_exists( 'array_key_first' ) ) {
 	/**
 	 * Polyfill for array_key_first() function added in PHP 7.3.
@@ -520,16 +503,6 @@ if ( ! function_exists( 'str_ends_with' ) ) {
 	}
 }
 
-// IMAGETYPE_WEBP constant is only defined in PHP 7.1 or later.
-if ( ! defined( 'IMAGETYPE_WEBP' ) ) {
-	define( 'IMAGETYPE_WEBP', 18 );
-}
-
-// IMG_WEBP constant is only defined in PHP 7.0.10 or later.
-if ( ! defined( 'IMG_WEBP' ) ) {
-	define( 'IMG_WEBP', IMAGETYPE_WEBP );
-}
-
 // IMAGETYPE_AVIF constant is only defined in PHP 8.x or later.
 if ( ! defined( 'IMAGETYPE_AVIF' ) ) {
 	define( 'IMAGETYPE_AVIF', 19 );
diff --git a/wp-includes/version.php b/wp-includes/version.php
index a0a79549c0..ac8fb33ced 100644
--- a/wp-includes/version.php
+++ b/wp-includes/version.php
@@ -16,7 +16,7 @@
  *
  * @global string $wp_version
  */
-$wp_version = '6.6-alpha-57984';
+$wp_version = '6.6-alpha-57985';
 
 /**
  * Holds the WordPress DB revision, increments when changes are made to the WordPress DB schema.
@@ -37,7 +37,7 @@ $tinymce_version = '49110-20201110';
  *
  * @global string $required_php_version
  */
-$required_php_version = '7.0.0';
+$required_php_version = '7.2.24';
 
 /**
  * Holds the required MySQL version.