It’s been two weeks since the Kentucky Derby, so it’s time for the Preakness Stakes. The second race in the 2026 Triple Crown is set for this afternoon, but Kentucky Derby champion Golden Tempo won’t race today ; instead, the horse will just run in the early June Belmont Stakes. The current favorite to win the Preakness is Iron Honor, with 9-2 odds. Taj Mahal, Chip Honcho and Incredibolt are all among the favorites too, with 5-1 odds. 2026 preakness stakes: what to know When: May 16, approx. 6: