A horseplayer's two peak experiences are watching a great thoroughbred run and cashing a big ticket, though not necessarily in that order. Rarely do they coincide, and that won't happen Saturday in the 151st Preakness Stakes (G1).
This tarnished Middle Jewel of the Triple Crown has no established star, so call it the Bleakness Preakness. The Maryland classic's lure was that as long as the Kentucky Derby (G1) winner showed up, a sweep was possible. No such luck for the second straight year, because Derby hero Golden Tempo is skipping it to await the Belmont Stakes (G1), as is unlucky runner-up Renegade.
But to serious bettors, that's not a big deal. So, what if there's only one Grade 1 winner (distance-challenged Napoleon Solo) in the field? So, what if it feels like an allowance race with a $2 million purse? So, what if Hall of Fame trainer Bill Mott said, "Nobody talks about the Preakness?"
There's an intriguing parimutuel puzzle to be solved, and the absence of a heavy favorite makes juicy scores more likely. It's the first maximum field of 14 since 2011, and only Taj Mahal has ever raced at Laurel Park. Most horses prefer to be on or near the lead, which can produce demanding fractions. The finish line is at the first wire, trimming the stretch run to 1,089 feet, 145 feet shorter than Churchill Downs'. So, don't get cooked in quick fractions, but don't be too far back and risk running out of ground.
Yeah, there sure are a lot of variables in this equation. As trainer Todd Fincher said, “I think it's going to be an interesting betting race.”
Unlike the Derby, which longshots often win, the Preakness usually is a very formful race. This year's edition could buck that historic trend. Here's a guarantee: If you have a price horse in contention in mid-stretch, you won't care about that other stuff. You'll be yelling at the TV and living in the moment, the ultimate rush for an investor in short-term equine futures.
If you're one of those people, here's a horse-by-horse analysis of the field from the rail out, with jockey, trainer, and morning-line odds in parentheses:
| 2026 Preakness Stakes Odds and Post Positions | ||
| PP | Horse / Jockey | Odds |
|---|---|---|
| 1 | Taj MahalSheldon Russell | 5/1 |
| 2 | OcelliTyler Gaffalione | 6/1 |
| 3 | CrupperJunior Alvarado | 30/1 |
| 4 | RobustaRafael Bejarano | 30/1 |
| 5 | TalkinIrad Ortiz Jr. | 20/1 |
| 6 | Chip HonchoJose Ortiz | 5/1 |
| 7 | The Hell We DidLuis Saez | 15/1 |
| 8 | Bull by the HornsMicah Husbands | 30/1 |
| 9 | Iron HonorFlavien Prat | 9/2 |
| 10 | Napoleon SoloPaco Lopez | 8/1 |
| 11 | Corona de OroJohn Velazquez | 30/1 |
| 12 | IncrediboltJaime Torres | 5/1 |
| 13 | Great WhiteAlex Achard | 15/1 |
| 14 | Pretty Boy MiahRicardo Santana Jr. | 15/1 |
Last Updated on 05/11/2026
Everything was going his way until the draw, and then ...
“It isn't what I was hoping for. The only spot I was hoping not to be was the rail,” said Brittany Russell, who could become the first woman to train a Preakness champion. “It's OK. He's a good gate horse, and we'll just have to play it as it unfolds.”
Undefeated Taj Mahal is the ultimate horse for the course (3-for-3 at Laurel). He dominated a weak field in the 1 1/8-mile Federico Tesio on an uncontested lead, but this time he'll face pace pressure from much better opponents.
“We'll just have to hold that spot until we get to the bend, but we've got a longer run this time,” Sheldon Russell said. “He's going to have to overcome a few things, but good horses overcome things.”
In his 6-furlong debut, Taj Mahal overcame a slow start and rallied to win by 4 1/4 lengths. If he can rate in the second flight, that could work out well.
This 0-for-7 deep closer ran the race of his life in the Derby, finishing third by only a length at odds of 70-1. He actually led briefly in the final furlong, bringing back memories of Rich Strike's 80-1 shocker in 2022. Fun factoid and a warning: No maiden has won the Preakness since Refund in 1888. Worth using in the third and fourth slots in trifectas and superfectas, but that's all.
Both his wins came on or near the lead, but he's not fast enough to keep up with what shapes up as a quick pace. Poor speed figures and needed four starts to break his maiden. In over his head in his graded-stakes debut.
Troubled trip from outside post in the Derby, but 70-1 chance had no realistic shot anyway. Never gets bet, and career highlight was running second at 68-1 in the San Felipe Stakes (G2). Enough speed to be near the early lead, but if he is, he'll be a pace casualty.
How strange to see future Hall of Famer Irad Ortiz, Jr. on a 20-1 shot in a Grade 1. Talkin should be that price, because he's 0-for-4, beaten by 41 1/2 lengths, in four graded-stakes tries. Early-pace numbers are OK, so expect Irad to push on him early. Might hurt the better speed types (Taj Mahal, Chip Honcho, Napoleon Solo) before folding.
He has enough speed to be a factor early. His best races were on or near the early lead, but he's not a finisher. He has weak late-pace numbers and lost ground in the stretch in his three races this year.
Ran a respectable second in the Lexington Stakes (G3) in his two-turn debut. Was 2-for-3 at 6 furlongs versus weak fields; looks like a closing sprinter, not a Grade 1 distance horse.
Saffie is enjoying a terrific year with Grade 1 winners White Abarrio, Skippylongstocking, and Solitude Dude, but he won't make his Triple Crown breakthrough with this guy. Was seventh, 19 lengths behind, in his only graded stakes, and speed numbers are low.
Won his first two starts pressing solid paces, which might be the ideal approach here. Couldn't overcome post 12 and troubled trip when seventh as 5-2 favorite in a weak Wood Memorial (G2). Negatives: He'll be overbet because of superstar connections, and he's winless beyond a mile. Positives: Strong distance pedigree, training well, and Chad has won the Preakness twice.
Precocious 2-year-old (2-for-2, including Champagne Stakes (G1), a one-turn mile) but a distant fifth this year in both two-turn stakes. Paco will gun for the early lead, which could compromise Taj Mahal and Chip Honcho before taking its toll on this quick but stamina-deficient colt. Could play a major role in the pace scenario, but won't be in the mix at the finish.
When's the last time Hall of Famer Johnny V. was on a 30-1 no-hoper in a classic? Velazquez, 54, could replace Mike Smith as the oldest jockey to win the Preakness, but that won't happen Saturday. This colt's only win in five tries was wire-to-wire in moderate fractions. He won't be able to get away with that here.
Was a sneaky-good sixth in the Derby, overcoming traffic problems and a bump in the stretch to lose by only four lengths. Has the field's best late-pace numbers and is the only one to win a graded stakes around two turns. Post 12 is no bargain, but if Torres can save ground, he could be in a position to make a winning move on the turn. He won the Preakness two years ago on Seize the Grey for D. Wayne Lukas, so the moment won't be too big for him.
Gigantic gelding scratched into the Derby, then had to be scratched after rearing up and falling behind the starting gate. Fortunately, he and Achard weren't hurt. Set a decent pace before backpedaling to fifth, 22 lengths behind, in the Blue Grass Stakes (G1), his only dirt try. He'll probably try for the lead from the far outside, then fade again.
Never been beyond a mile, but has impressive sprint speed. Expect Santana to use it, because from the 14th post, he has no other choice. Should be part of a wild scramble in the run to the first turn, then fold.
Ed McNamara is an award-winning racing writer who has covered the sport since 1981 for The Bergen (N.J.) Record, Newsday, ESPN, Thorocap, and USRacing. He is the author of Cajun Racing: From the Bush Tracks to the Triple Crown and Racing Around the World, and a contributor to The Most Glorious Crown and The Racetracks of America. He has also written for racing publications in France and Italy.
