A U-Mo alloy has been selected as the fuel design for the conversion of high-performance research reactors in the United States. Efforts are ongoing to describe the fuel evolution as a function of time, for a variety of different reactor conditions. The accurate prediction of fuel evolution under irradiation requires the implementation of correct thermodynamic properties into mesoscale and continuum-level fuel performance modeling codes. Molecular dynamics has proven to be a valuable tool to parameterize or inform these higher-length scale models. However, there are currently inaccuracies in the only available U-Mo-Xe potential, which limits the predictive capabilities of molecular dynamics to inform critical phenomena in these fuel systems such as fission gas swelling. This work provides an updated U-Mo-Xe ternary interatomic potential which combines existing potentials in a reconciled format. The validation of the interatomic potential is performed by analyzing the phase stability and vacancy formation energies. Subsequently, Xe solution energies and an equation of state to describe Xe bubbles in U-Mo are calculated, providing 1) evidence of the significant differences between the prior ternary potential and the currently presented potential, and 2) updated data/tools for implementation into mesoscale simulation methodologies to study fission gas bubble evolution.