Iron Honor is the morning-line favorite for the 2026 Preakness Stakes at 9-2 odds, despite a recent seventh-place finish. Other contenders include Taj Mahal, Chip Honcho, and Incredibolt, all closely following in the odds.
Key points
Iron Honor is the morning-line favorite at 9-2 odds.
Taj Mahal, Chip Honcho, and Incredibolt are at 5-1 odds.
Only three horses from the Kentucky Derby are in the Preakness.
Ocelli finished third in the Kentucky Derby.
Iron Honor's trainer was surprised by the morning-line favoritism.
Iron Honor got the nod in the morning line at 9-2 odds but was followed by a trio of horses at 5-1 (Taj Mahal, Chip Honcho and Incredibolt) and another at 6-1 (Ocelli).
Iron Honor trainer Chad Brown said he was surprised to see his horse on top following Monday’s draw, especially given his most recent showing — seventh place in the Grade 2 Wood Memorial on April 4 at Aqueduct.
“I like the spot for him, but based on his last start, I was surprised he was made the morning-line favorite,” Brown said. “But, I am not surprised that he fits in this race.”
Only three horses who competed in the Kentucky Derby are entered in the Preakness — Ocelli (third in the Derby), Incredibolt (sixth) and Robusta (14th).
Post time for the $2 million, Grade 1 Preakness is set for 7:01 p.m. Saturday, and NBC will have live coverage from 4-7:30 p.m.
The race is being held at Laurel Park because of renovations at Pimlico Race Course, the traditional host track located in Baltimore.
Here’s a look at why each horse can and can’t win the Preakness — many serious, a few tongue-in-cheek and one destined to be right.
1. Taj Mahal (5-1 odds)
Why he can win: He’s undefeated in three career starts, all coming at Laurel Park. Perhaps Brittany Russell can make it back-to-back victories for female trainers in Triple Crown races, joining Cherie DeVaux and Kentucky Derby winner Golden Tempo.
Why he can’t: Federico Tesio winners such as Taj Mahal have a rough history in the Preakness. The only Tesio winner to also capture the Preakness was Deputed Testimony in 1983.
Q&A
What are the betting odds for the 2026 Preakness Stakes?
Iron Honor is the morning-line favorite at 9-2 odds, with Taj Mahal, Chip Honcho, and Incredibolt at 5-1.
Which horses from the Kentucky Derby are competing in the Preakness Stakes?
Ocelli, Incredibolt, and Robusta are the three horses from the Kentucky Derby entered in the Preakness Stakes.
Why is Iron Honor considered the favorite for the Preakness Stakes?
Iron Honor is favored despite a seventh-place finish in the Grade 2 Wood Memorial, as his trainer believes he fits well in this race.
What position did Ocelli finish in the Kentucky Derby?
Ocelli finished third in the Kentucky Derby.
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2. Ocelli (6-1)
2026 Kentucky Derby horse Ocelli gallops on the track at Churchill Downs for the 2026 Kentucky Derby. The horse moved into the main body of the 152nd Derby after the scratch of Fulleffort. Ocelli is trained by Whit Beckman. April 30, 2026
2026 Kentucky Derby horse Ocelli gallops on the track at Churchill Downs for the 2026 Kentucky Derby. The horse moved into the main body of the 152nd Derby after the scratch of Fulleffort. Ocelli is trained by Whit Beckman. April 30, 2026
Why he can win: Showed in the Kentucky Derby he’s not your typical maiden, taking the lead with a half-furlong to go before finishing third.
Why he can’t: A maiden hasn’t won the Preakness since Refund in 1888. Yes, 1888.
3. Crupper (30-1)
Why he can win: He’s 2-0-3 in his past five starts, so he’s consistently in the hunt. Donnie Von Hemel comes from a family of Hall of Fame trainers, and maybe it’s time for the family’s first Triple Crown winner.
Why he can’t: Speed numbers just don’t match up with the top contenders in this field.
4. Robusta (30-1)
2026 Kentucky Derby eligible horse Robusta in the barn of trainer Doug O'Neill April 28, 2028 at Churchill Downs in Louisville, Kentucky.
2026 Kentucky Derby eligible horse Robusta in the barn of trainer Doug O'Neill April 28, 2028 at Churchill Downs in Louisville, Kentucky.
Why he can win: Certainly didn’t do much running in the Kentucky Derby, so maybe he’s fresh?
Why he can’t: With 14 horses, this Preakness field isn’t exactly small, either. Robusta was bumped at the start in the Kentucky Derby and may well encounter early traffic again.
5. Talkin (20-1)
Why he can win: He hasn’t won since breaking his maiden but has consistently competed against the best in his class. The addition of jockey Irad Ortiz Jr. can’t hurt.
Why he can’t: He’s 0 for 4 in graded stakes and never has displayed the ability to beat the best in his class.
6. Chip Honcho (5-1)
2026 Kentucky Derby contender Chip Honcho works out at Churchill Downs with exercise rider Roberto Howell. The horse is trained by Steve Asmussen. Chip Honcho has won in the mud. April 22, 2026
2026 Kentucky Derby contender Chip Honcho works out at Churchill Downs with exercise rider Roberto Howell. The horse is trained by Steve Asmussen. Chip Honcho has won in the mud. April 22, 2026
Why he can win: High-strung horse figures to enjoy a quiet Laurel Park setting where only 4,800 fans will be allowed to attend. Stalker could get first run at the pacesetters coming for home.
Why he can’t: That fifth-place finish in the Louisiana Derby sticks out like a sore thumb, and trainer Steve Asmussen said he couldn’t find a legitimate excuse. Are Chip Honcho’s best days behind him?
7. The Hell We Did (15-1)
Why he can win: Never worse than second in four career starts at four different tracks. Bonus points for a unique name.
Why he can’t: Likes to be near the front and figures to encounter classier speed here than he’s ever seen before.
8. Bull by the Horns (30-1)
Why he can win: Maybe the other 13 get stuck in the gate.
Why he can’t: Speed figures indicate he’s the slowest horse in the field.
9. Iron Honor (9-2)
Why he can win: Was on the path to stardom before finishing seventh in the Wood Memorial. Throw that one out, and it’s easy to see why he’s the morning-line favorite.
Why he can’t: There’s a reason Chad Brown felt more comfortable going with Emerging Market over Iron Honor in the Kentucky Derby. Perhaps that 2-for-2 start to his career wasn’t as impressive as first thought.
10. Napoleon Solo (8-1)
Why he can win: Figures to be on the lead early. If he’s stepped up at all, he can steal it.
Why he can’t: Finished fifth in both starts as a 3-year-old. Might be better off as a miler.
11. Corona de Oro (30-1)
Why he can win: Should be close early, and jockey John Velazquez won this race in 2023 with National Treasure.
Why he can’t: Couldn’t hang on in the Grade 3 Lexington at Keeneland and will be facing tougher here.
12. Incredibolt (5-1)
2026 Kentucky Derby horse Incredibolt trains at Churchill Downs during Kentucky Derby week. Trainer is Riley Mott. April 30, 2026
2026 Kentucky Derby horse Incredibolt trains at Churchill Downs during Kentucky Derby week. Trainer is Riley Mott. April 30, 2026
Why he can win: Ran a respectable sixth in the Kentucky Derby and should once again get the strong pace he needs to make a late bid.
Why he can’t: Is there another gear, or was the Kentucky Derby his limit?
13. Great White (15-1)
LOUISVILLE, KENTUCKY - APRIL 26: Great White trains on the track during morning workouts ahead of the running of the 152nd Kentucky Derby at Churchill Downs on April 26, 2026 in Louisville, Kentucky. (Photo by Michael Reaves/Getty Images)
LOUISVILLE, KENTUCKY - APRIL 26: Great White trains on the track during morning workouts ahead of the running of the 152nd Kentucky Derby at Churchill Downs on April 26, 2026 in Louisville, Kentucky. (Photo by Michael Reaves/Getty Images)
Why he can win: Huge horse (17.2 hands) may just intimidate the others and have his way.
Why he can’t: Both victories came over a synthetic surface at Turfway Park. Finished fifth in his only dirt start (Blue Grass at Keeneland).
14. Pretty Boy Miah (15-1)
Why he can win: Earned a 92 Beyer Speed Figure in his last victory at Aqueduct, which would put him in the mix if he can repeat it.
Why he can’t: He’s never raced farther than a mile, so there are big concerns about the distance.