If you think the Kentucky Derby is the hardest race to win, you haven't been paying attention to the dirt at Pimlico. People call it the "Middle Jewel." To the horses, it’s a meat grinder. The turnaround is brutal. Two weeks. That’s all the rest they get.
Most years, a fresh face ruins the party. We saw it clearly in 2025. Journalism, a horse that came so close at Churchill Downs, had to dig into a different gear to secure that win. He wasn't just fighting the other horses in the Preakness Stakes; he was fighting his own exhaustion.
The 150th running of this race was a masterclass in why Baltimore is where Triple Crown dreams usually go to die—or, in Journalism's case, where they get a second lease on life. It wasn't a blowout. It was a dogfight.
The 2025 Reality Check
Everyone was looking at Journalism. He was the 8-5 morning-line favorite for a reason. But the race didn't go according to the script. Clever Again took the lead early and basically dared anyone to come and get him. By the half-mile mark, Journalism was sitting in fifth.
He looked stuck.
Then came Gosger. At 19-1, nobody expected this horse to be a threat, yet there he was, surging into the lead late. The crowd at Old Hilltop went silent for a split second. Was another longshot about to wreck the betting pools?
💡 You might also like: The Chicago Bears Hail Mary Disaster: Why Tyrique Stevenson and Bad Luck Changed a Season
Umberto Rispoli, Journalism's jockey, didn't panic. He survived a brief bump, steered inside, and the horse just... exploded. Journalism took it by half a length over Gosger. Sandman, another fan favorite who finished sixth in the Derby, managed to grab third.
It was a small field—only nine horses. But when the winning time is 1:55.47 on a fast track, you know they were moving. Michael McCarthy finally got his Pimlico win, and he was visibly shaken afterward. "It's a testament to the horse," he said. He was right.
Why the Field Size Matters (More Than You Think)
You’ll notice the Preakness field is usually smaller than the Derby. In 2025, we had nine starters. In 2024, it was eight. Compare that to the 20-horse cavalry charge at the Kentucky Derby.
A smaller field should be easier, right? Wrong.
- Traffic is different. In a 20-horse race, you're just trying to survive. In a 9-horse race, every move is magnified.
- The "New Shooters." These are horses that skipped the Derby to wait for the Preakness. They are fresh. They are fast. They are dangerous.
- The Pace. Because there are fewer horses, the speed often stays closer to the front. There’s less "chaos" to help a closer.
Historically, the No. 6 post position has been the "golden" spot, producing 17 winners. In 2025, River Thames had that spot, but it didn't help him much; he finished sixth. Journalism won from the No. 2 hole.
📖 Related: Steelers News: Justin Fields and the 2026 Quarterback Reality
The Ghosts of Pimlico
We can't talk about horses in the Preakness Stakes without mentioning the legends. Secretariat still holds the speed record at 1:53.00, though it took decades of legal arguing to get that time officially recognized.
Then there’s the grit factor.
Remember Afleet Alex in 2005? He clipped heels, literally stumbled to his knees, and somehow regained his balance to win by five lengths. That isn't just talent. That’s a freak of nature.
Or the fillies. It’s rare for a girl to beat the boys here, but when they do, it's historic. Rachel Alexandra in 2009 was a machine. Swiss Skydiver in 2020 outran Authentic in a stretch duel that people still talk about in Baltimore bars. These horses don't care about the "Middle Jewel" nickname. They just want to run.
Stats for the Skeptics
The betting public usually has a better handle on the Preakness than the Derby. Since 1991, the favorite has finished in the money (top three) about 75% of the time.
👉 See also: South Dakota State Football vs NDSU Football Matches: Why the Border Battle Just Changed Forever
| Finish | Horse | Jockey | Final Odds |
|---|---|---|---|
| 1st | Journalism | Umberto Rispoli | 1.00 (Even) |
| 2nd | Gosger | Luis Saez | 15.50 |
| 3rd | Sandman | John R. Velazquez | 6.40 |
The 2025 payouts were modest because the favorite actually did his job. A $2 win bet on Journalism only returned $4.00. But if you hit that 2-9 Exacta? You were looking at $33.80. Not bad for a two-minute race.
What it Takes to Win Now
Training has changed. In the 70s and 80s, horses ran all the time. Now, they are "babied" more. That’s why the two-week gap between the Derby and Preakness is such a massive hurdle.
Bob Baffert has mastered this. He holds the record with eight wins. He knows how to keep a horse "on the muscle" without breaking them. D. Wayne Lukas is right behind him with six. These guys don't just pick fast horses; they pick horses with the right mind.
If a horse is "rank" (grumpy or over-excited) in the paddock at Pimlico, they're done. The infield crowd is loud. The atmosphere is electric. It’s a lot for a three-year-old to handle.
Actionable Insights for Next Year
If you're looking to handicap the horses in the Preakness Stakes for 2026, stop looking at just the Derby winner.
- Check the Brisnet Speed Ratings. 13 of the last 16 winners had a triple-digit rating in their previous start. Journalism had a field-best 108 coming in.
- Watch the "New Shooters." If a horse won an allowance race on the Derby undercard (like Seize the Grey did in 2024), they are prime candidates to upset the tired Derby veterans.
- Look at the Trainer. If Baffert or Lukas has a horse entered, you ignore them at your own peril.
- Ignore the "Triple Crown" Hype. Focus on the horse that actually likes the 1 3/16-mile distance. It’s a sixteenth of a mile shorter than the Derby. That favors horses with "tactical speed"—the ability to stay near the lead and then kick.
The Preakness isn't a parade. It’s a test of recovery. Journalism proved that in 2025 by overcoming a bad trip at Churchill to dominate at Old Hilltop.
Next Steps for Racing Fans:
- Check the current Equibase profiles for the leading three-year-olds currently in training.
- Review the replays of the Santa Anita Derby and the Arkansas Derby; these are often the best predictors of Preakness-style speed.
- Keep an eye on the Maryland Jockey Club's winter stakes schedule to see which local horses might be "live" for the 2026 run.