The 151st Preakness Stakes is held today, May 16, 2026, at Laurel Park in Laurel, Maryland, due to renovations at Pimlico Race Course in Baltimore [1, 2, 3, 4, 5, 6, 7]. Kentucky Derby winner Golden Tempo is not running, marking the third time in five years the Derby champion has skipped the Preakness [1, 3, 4, 7]. The final field was set on May 11 after Golden Tempo's withdrawal was confirmed [1, 8, 3, 4].
Iron Honor enters as the morning line favorite at 9-2 odds. The horse won the Gotham Stakes earlier this year and is considered a top contender [1, 8, 2, 9, 10, 3, 4, 5, 6, 7]. Other leading horses with 5-1 odds include Taj Mahal, Incredibolt, and Chip Honcho [1, 8, 2, 9, 10, 3, 4, 6, 7]. Taj Mahal stands out as he has won all three of his career races at Laurel Park and was bred in Florida, gaining familiarity with the venue [8, 9, 11, 7]. Despite this, expert Jody Demling does not rank Taj Mahal among his top three picks, citing doubt about the level of competition he has faced [2, 10, 4, 6, 7].
Ocelli is a notable contender at 6-1 odds despite never having won a race. Demling said, "He's still a maiden, but was third in the Wood Memorial and ran third in the Derby," highlighting his potential impact as a 70-1 longshot in the Kentucky Derby [1].
Napoleon Solo, listed at 8-1 odds, showed strong form late last year including a Grade I Champagne Stakes victory but has had weaker performances in 2026 [9, 3, 5, 11]. Demling noted, "The son of Liam's Map will likely be near the front of the pack; he finished fifth in the Wood Memorial and is not without a shot to hit the board" [5].
The winner of the race will receive the Woodlawn Vase, regarded as the most valuable trophy in sports, with its estimated value adjusted upward from $1 million in 1983 [6]. The race is scheduled to start at 6:50 p.m. Eastern Time today [1, 2, 3, 4, 5].
