The 151st Preakness Stakes serves up something genuinely new in 2026: a relocated “Run for the Black-Eyed Susans,” a wide-open betting market, and a field full of fresh shooters trying to fill the gap left by Kentucky Derby hero Golden Tempo.
For the first time since 1909, the Preakness will not be run at Pimlico, with the 151st edition switching thirty miles south to Laurel Park while a $400 million redevelopment rebuilds Pimlico from the ground up.
The middle jewel of the Triple Crown remains at its traditional distance of 1 3/16 miles (1m1½f), but Laurel’s wider layout and shorter stretch – the race is run to the first of two finish lines – could make positioning on the final turn even more important than usual.
Laurel Park is no stranger to high-class racing, yet this is the first time it has staged the Preakness Stakes, giving Maryland fans a rare chance to see their state’s signature race on a different stage while Pimlico is transformed.
The move is expected to be temporary, with plans already in place for the Preakness to return to a redeveloped Pimlico in 2027, but it adds an extra layer of intrigue to this year’s renewal.
No Triple Crown Bid In 2026
Any Triple Crown storyline ended as soon as Golden Tempo’s connections confirmed that the Derby winner would skip the Preakness.
The 23–1 Kentucky Derby shock winner gave trainer Cherie DeVaux a historic first success at Churchill Downs, but she and her team have opted to pass the two-week turnaround and freshen the colt for a Belmont Stakes tilt instead.
Golden Tempo’s absence is the latest example of a Derby winner bypassing the Preakness, and it leaves the second leg of the Triple Crown without a focal point but with a more evenly matched field and deeper betting board.
It also opens the door for both Derby returnees and new shooters to seize control of the three-year-old division heading into New York next month.
2026 Preakness Stakes Odds
*Odds from Betfred correct at time of publishing
| No. | Horse | Trainer | Jockey | Odds |
|---|---|---|---|---|
| 1 | Taj Mahal | Brittany T. Russell | Sheldon Russell | 5/1 |
| 6 | Chip Honcho | Steven M. Asmussen | Jose L. Ortiz | 5/1 |
| 12 | Incredibolt | Riley Mott | Jaime A. Torres | 5/1 |
| 2 | Ocelli | D. Whitworth Beckman | Tyler Gaffalione | 11/2 |
| 9 | Iron Honor | Chad C. Brown | Flavien Prat | 11/2 |
| 10 | Napoleon Solo | Chad Summers | Paco Lopez | 9/1 |
| 5 | Talkin | Danny Gargan | Irad Ortiz, Jr. | 11/1 |
| 7 | The Hell We Did | Todd W. Fincher | Luis Saez | 16/1 |
| 14 | Pretty Boy Miah | Jeremiah C. Englehart | Ricardo Santana, Jr. | 18/1 |
| 13 | Great White | John Ennis | Alex Achard | 22/1 |
| 4 | Robusta | Doug F. O’Neill | Rafael Bejarano | 25/1 |
| 11 | Corona de Oro | Dallas Stewart | John R. Velazquez | 33/1 |
| 3 | Crupper | Donnie K. Von Hemel | Junior Alvarado | 40/1 |
| 8 | Bull by the Horns | Saffie A. Joseph, Jr. | Micah J. Husbands | 50/1 |
Top Three Betting Favourites
The market has been slow to latch onto a standout, with Iron Honor installed as only a lukewarm 9–2 morning-line favourite and a cluster of rivals close behind.
Odds are constantly shifting among the top five, with any of them likely to go off as favourite up until the bolt out of the gates. With no standout, that means value lurks beyond the leading trio.
Iron Honor: Chad Brown’s colt brings a profile that will be familiar to Preakness students, having come through the Wood Memorial, the same launching pad used by Brown’s previous Preakness winners, though he could finish only seventh in that New York prep after starting his career with two sharp wins, including the Gotham.
Flavien Prat takes the ride, and if Iron Honor can rebound from that Wood misfire, his tactical speed should play well around Laurel’s tighter trip.
Taj Mahal: Arrives unbeaten in three starts, all at Laurel, including a convincing victory in the Federico Tesio Stakes that earned him an automatic Preakness berth.
Trained by Brittany Russell and ridden by her husband Sheldon, he represents a local team bidding to become the first Tesio–Preakness double since Deputed Testamony pulled off the feat back in 1983.
Chip Honcho: Steve Asmussen’s Gun Runner Stakes winner has yet to kick on fully from that Fair Grounds success, filling the frame without winning in three subsequent stakes attempts and most recently finishing fifth in the Louisiana Derby.
However, he has previously finished in front of Golden Tempo, and a positive set of recent workouts hints that the son of Connect could be peaking at just the right time.
With those three so closely matched on the book, the favourite’s tag says more about Iron Honor’s upside than about any commanding edge on proven form.
Other Major Players
The depth of this field is underlined by the fact that several double-figure prices have compelling cases on paper, particularly among the Derby returnees and lightly raced improvers.
Ocelli, still a maiden, outran triple-figure odds to finish third in the Kentucky Derby and now bids to back that effort up on the shortest rest of his career.
Trained by D. Whitworth Beckman, with jockey Tyler Gaffalione, he clearly relished the strong Derby tempo and may enjoy a similarly honest gallop here, though he must show that peak was not a one-off.
Incredibolt, the Virginia Derby winner, stayed on for sixth in the Kentucky Derby and now cuts back slightly in trip, a scenario that often suits horses proven to stay a strong nine furlongs.
He arrives from the Riley Mott barn with Jaime Torres in the irons and enough tactical pace to avoid leaving himself too much to do around Laurel’s shorter stretch.
Talkin is another to respect, even at a double-figure quote, despite losing four straight since his maiden success and finishing a well-beaten third in the Blue Grass Stakes last time.
His speed figures stack up favourably against many of today’s rivals, and the booking of Irad Ortiz Jr. suggests connections believe he can take a step forward with a more patient ride.
Among the true outsiders, Great White and Bull By The Horns offer contrasting angles. Great White was scratched at the Derby gate after flipping his jockey, but had earlier landed the John Battaglia Memorial on synthetic.
Meanwhile, Bull By The Horns arrives off a Rushaway win and attempts to become the rare Preakness winner off a layoff greater than thirty days.
History is against them, yet both possess enough late kick to outrun big odds if the leaders overcook things up front.
Prediction: Who Wins the 2026 Preakness?
If you are looking for a solid, uncomplicated play will find it hard to knock Iron Honor, particularly given Chad Brown’s recent Preakness record with horses coming out of the Wood Memorial.
But from a value and narrative perspective, there is a strong case for siding with a horse who has already shown his hand over a route and whose last run looks better than the bare result.
The Hell We Did brings an appealing blend of tactical speed, untapped stamina, and an upward-trending profile into a race that lacks a dominant star in Golden Tempo’s absence.
Expect Taj Mahal to run another big race on his beloved Laurel surface and Iron Honor to be charging late, but if Saez can nurse The Hell We Did into the straight in the first three, this could be the day a new name emerges at Laurel as the headline act of the three-year-old crop.
BETFRED
