Chad Brown isn’t one to suffer from “Kentucky Derby Fever.”
To wit, he’s twice won the Preakness — Cloud Computing in 2017 and Early Voting in 2022 — with horses who had qualified for the Kentucky Derby but skipped it.
So it may come as a surprise to see Brown in this year’s Kentucky Derby with a horse, Emerging Market, who has raced just twice in his career.
Or maybe it’s a sign of Brown’s confidence in his undefeated colt.
“I’ve been beaten in this race by horses that weren’t nearly as good as Emerging Market, plain and simple,” Brown said. “They’re not this caliber. So why sit out when there’s a chance another long shot can win?”
Emerging Market may not have the extensive résumé of a Renegade or Commandment or Further Ado, but he shouldn’t be overlooked for the Kentucky Derby on May 2 at Churchill Downs — even if history is against him.
Only one horse ever has won the Kentucky Derby after entering the race with just two career starts, and you have to go back to 1883 (Leonatus) to find him.
Since 1937 — the first year complete records are available on the topic — only six horses have even tried the Kentucky Derby off two career starts. The most recent was Japan’s T O Password in 2024. He finished fifth.
“When they say stuff hasn’t been done in so long, sooner or later it will be done,” Brown said. “So why not it be this horse, our team? I feel like there’s so many obstacles to get through to get to the winner’s circle … that the ‘only two starts’ is very low on my list, actually.”
While Emerging Market is lightly raced, Brown noted he’s had ample training — if not some bad luck — since he was a 2-year-old.
He was headed toward a racing debut at Saratoga in the summer before suffering a cut in his stall, taking him out of training for a few weeks. In the fall, Emerging Market battled pneumonia and didn’t record a workout for 2½ months.
“It was a rough year for my 2-year-olds last year,” Brown said. “A lot of them were sick.”
Emerging Market finally got to the starting gate Feb. 7 at Tampa Bay Downs and won. Brown didn’t hesitate to throw him straight into stakes company, and Emerging Market shined with a victory in the Grade 2 Louisiana Derby on March 21, beating Pavlovian by a head and earning a spot in the Kentucky Derby.
“He fought hard,” jockey Flavian Prat said. “It was a good run, very professional. Honestly, when I turned for home I thought I would win easily, but Pavlovian gave us a good challenge.”
“He just confirmed how he trained,” Brown said. “The horse trained liked he was way above average, to put it mildly. The horse has always acted like he was in a different league. …
“If I think they’re that good, I jump them right up. This horse doesn’t need to go through conditions.”
A son of Candy Ride, Emerging Market was purchased for Klaravich Stables for $185,000 at the 2024 Keeneland September Yearling Sale.
Kentucky Derby 152 contender Chief Wallabee during a morning workout at Churchill Downs. The horses enters the Kentucky Derby off a third-place finish in the Grade 1 Florida Derby on March 28 at Gulfstream Park. He currently ranks 17th on the Kentucky Derby points leaderboard with 50. April 19, 20262026 Kentucky Derby contender Albus on the backside at Churchill Downs in Louisville, Kentucky. The horse is trained by Riley Mott. April 20, 2026Japanese horse Wonder Dean, a contender for the 2026 Kentucky Derby, on the track with Churchill Downs veteran rider Mike Crowder aboard his pony at Churchill Downs in Louisville, Kentucky. April 20, 2026Jockey Junior Alvarado walks by a sign honoring Sovereignty -- which he rode to a win in the 2025 Kentucky Derby -- at trainer Bill Mott's barn at Churchill Downs in Louisville, Kentucky. He's slated to ride Kentucky Derby horse Chief Wallabee. April 20, 2026Kentucky Derby 152 contender Chief Wallabe outside trainer Bill Mott's barn at Churchill Downs. The horses enters the Kentucky Derby off a third-place finish in the Grade 1 Florida Derby on March 28 at Gulfstream Park. He currently ranks 17th on the Kentucky Derby points leaderboard with 50. April 19, 2026.2026 Kentucky Derby contender Wonder Dean works at Churchill Downs in Louisville, Kentucky. Trainer is Daisuke Takayanagi. The horse has earned $725,172 so far. April 20, 2026Jockey Junior Alvarado aboard 2026 Kentucky Derby horse Chief Wallabee during morning workouts at Churchill Downs in Louisville, Kentucky. The horse is trained by Bill Mott. The horse's most recent race was in the Florida Derby at Gulfstream Park, where he finished third. April 20, 2026Jockey Junior Alvarado aboard 2026 Kentucky Derby horse Chief Wallabee during morning workouts at Churchill Downs in Louisville, Kentucky. The horse is trained by Bill Mott. The horse's most recent race was in the Florida Derby at Gulfstream Park, where he finished third. April 20, 20262026 Kentucky Derby contender Chief Wallabee is walked back his stall at trainer Bill Mott's barn on the backside of Churchill Downs in Louisville, Kentucky. April 19, 20262026 Kentucky Derby contender Wonder Dean works at Churchill Downs in Louisville, Kentucky. Trainer is Daisuke Takayanagi. The horse has earned $725,172 so far. April 20, 20262026 Kentucky Derby contender Incredibolt in his stall at Trainer Riley Mott's barn at Churchill Downs in Louisville, Kentucky. The Pin Oak Stud won the Virginia Derby. April 20, 2026Kentucky Derby 152 contender Albus on the track with exercise rider Antonio Garcia aboard for training at Churchill Downs in Louisville, Kentucky. The horse is trained by Riley Mott. April 20, 2026Kentucky Derby 152 contender Albus on the track with exercise rider Antonio Garcia aboard for training at Churchill Downs in Louisville, Kentucky. The horse is trained by Riley Mott. April 20, 2026Two-time Kentucky Derby winning trainer Bill Mott at his barn on the backside at Churchill Downs in Louisville, Kentucky. Mott has Chief Wallabee in the 152nd Kentucky Derby. April 20, 2026Trainer Riley Mott in the stall of 152nd Kentucky Derby contender Albus while working at his barn on the backside at Churchill Downs in Louisville, Kentucky. Riley, who has two horses in the 2026 Kentucky Derby -- Albus and Incredibolt -- is the son of Derby winning trainer Bill Mott. April 20, 2026Trainer Riley Mott carries the saddlecloth of 152nd Kentucky Derby contender Albus while working in his barn on the backside at Churchill Downs in Louisville, Kentucky. Riley, who has two horses in the 2026 Kentucky Derby -- Albus and Incredibolt -- is the son of Derby winning trainer Bill Mott. April 20, 20262026 Kentucky Derby contender Albus on the backside at Churchill Downs in Louisville, Kentucky. The horse is trained by Riley Mott. April 20, 2026Trainer Riley Mott on the backside during morning workouts at Churchill Downs in Louisville, Kentucky. Riley, who has two horses in the 2026 Kentucky Derby -- Albus and Incredibolt -- is the son of Derby winning trainer Bill Mott. April 20, 2026Trainer Riley Mott watches training on the backside at Churchill Downs in Louisville, Kentucky. Riley, who has two horses in the 2026 Kentucky Derby -- Albus and Incredibolt -- is the son of Derby winning trainer Bill Mott. April 20, 2026Japanese horse Wonder Dean, a contender for the 2026 Kentucky Derby, on the track with Churchill Downs veteran rider Mike Crowder aboard his pony at Churchill Downs in Louisville, Kentucky. April 20, 2026Jockey Junior Alvarado on the backside at Churchill Downs in Louisville, Kentucky. He's slated to ride Kentucky Derby horse Chief Wallabee for trainer Bill Mott. Alvarado won the 2025 Kentucky Derby aboard Sovereignty. April 20, 2026Jockey Junior Alvarado at trainer Bill Mott's barn at Churchill Downs in Louisville, Kentucky. He's slated to ride Kentucky Derby horse Chief Wallabee. April 20, 2026Jockey Junior Alvarado aboard 2026 Kentucky Derby horse Chief Wallabee during morning workouts at Churchill Downs in Louisville, Kentucky. The horse is trained by Bill Mott. April 20, 2026Japanese horse Wonder Dean, a contender for the 2026 Kentucky Derby, on the track with Churchill Downs veteran rider Mike Crowder aboard his pony at Churchill Downs in Louisville, Kentucky. April 20, 20262026 Kentucky Derby horse Right To Party on the track during a morning workout at Churchill Downs in Louisville, Kentucky. April 20, 20262026 Kentucky Derby horse Right To Party on the track during a morning workout at Churchill Downs in Louisville, Kentucky. April 20, 20261 / 26A peek at the backside of Churchill Downs during Kentucky Derby WeekKentucky Derby 152 contender Chief Wallabee during a morning workout at Churchill Downs. The horses enters the Kentucky Derby off a third-place finish in the Grade 1 Florida Derby on March 28 at Gulfstream Park. He currently ranks 17th on the Kentucky Derby points leaderboard with 50. April 19, 20261 / 26A peek at the backside of Churchill Downs during Kentucky Derby WeekKentucky Derby 152 contender Chief Wallabee during a morning workout at Churchill Downs. The horses enters the Kentucky Derby off a third-place finish in the Grade 1 Florida Derby on March 28 at Gulfstream Park. He currently ranks 17th on the Kentucky Derby points leaderboard with 50. April 19, 20262 / 26A peek at the backside of Churchill Downs during Kentucky Derby Week2026 Kentucky Derby contender Albus on the backside at Churchill Downs in Louisville, Kentucky. The horse is trained by Riley Mott. April 20, 20263 / 26A peek at the backside of Churchill Downs during Kentucky Derby WeekJapanese horse Wonder Dean, a contender for the 2026 Kentucky Derby, on the track with Churchill Downs veteran rider Mike Crowder aboard his pony at Churchill Downs in Louisville, Kentucky. April 20, 20264 / 26A peek at the backside of Churchill Downs during Kentucky Derby WeekJockey Junior Alvarado walks by a sign honoring Sovereignty -- which he rode to a win in the 2025 Kentucky Derby -- at trainer Bill Mott's barn at Churchill Downs in Louisville, Kentucky. He's slated to ride Kentucky Derby horse Chief Wallabee. April 20, 20265 / 26A peek at the backside of Churchill Downs during Kentucky Derby WeekKentucky Derby 152 contender Chief Wallabe outside trainer Bill Mott's barn at Churchill Downs. The horses enters the Kentucky Derby off a third-place finish in the Grade 1 Florida Derby on March 28 at Gulfstream Park. He currently ranks 17th on the Kentucky Derby points leaderboard with 50. April 19, 2026.6 / 26A peek at the backside of Churchill Downs during Kentucky Derby Week2026 Kentucky Derby contender Wonder Dean works at Churchill Downs in Louisville, Kentucky. Trainer is Daisuke Takayanagi. The horse has earned $725,172 so far. April 20, 20267 / 26A peek at the backside of Churchill Downs during Kentucky Derby WeekJockey Junior Alvarado aboard 2026 Kentucky Derby horse Chief Wallabee during morning workouts at Churchill Downs in Louisville, Kentucky. The horse is trained by Bill Mott. The horse's most recent race was in the Florida Derby at Gulfstream Park, where he finished third. April 20, 20268 / 26A peek at the backside of Churchill Downs during Kentucky Derby WeekJockey Junior Alvarado aboard 2026 Kentucky Derby horse Chief Wallabee during morning workouts at Churchill Downs in Louisville, Kentucky. The horse is trained by Bill Mott. The horse's most recent race was in the Florida Derby at Gulfstream Park, where he finished third. April 20, 20269 / 26A peek at the backside of Churchill Downs during Kentucky Derby Week2026 Kentucky Derby contender Chief Wallabee is walked back his stall at trainer Bill Mott's barn on the backside of Churchill Downs in Louisville, Kentucky. April 19, 202610 / 26A peek at the backside of Churchill Downs during Kentucky Derby Week2026 Kentucky Derby contender Wonder Dean works at Churchill Downs in Louisville, Kentucky. Trainer is Daisuke Takayanagi. The horse has earned $725,172 so far. April 20, 202611 / 26A peek at the backside of Churchill Downs during Kentucky Derby Week2026 Kentucky Derby contender Incredibolt in his stall at Trainer Riley Mott's barn at Churchill Downs in Louisville, Kentucky. The Pin Oak Stud won the Virginia Derby. April 20, 202612 / 26A peek at the backside of Churchill Downs during Kentucky Derby WeekKentucky Derby 152 contender Albus on the track with exercise rider Antonio Garcia aboard for training at Churchill Downs in Louisville, Kentucky. The horse is trained by Riley Mott. April 20, 202613 / 26A peek at the backside of Churchill Downs during Kentucky Derby WeekKentucky Derby 152 contender Albus on the track with exercise rider Antonio Garcia aboard for training at Churchill Downs in Louisville, Kentucky. The horse is trained by Riley Mott. April 20, 202614 / 26A peek at the backside of Churchill Downs during Kentucky Derby WeekTwo-time Kentucky Derby winning trainer Bill Mott at his barn on the backside at Churchill Downs in Louisville, Kentucky. Mott has Chief Wallabee in the 152nd Kentucky Derby. April 20, 202615 / 26A peek at the backside of Churchill Downs during Kentucky Derby WeekTrainer Riley Mott in the stall of 152nd Kentucky Derby contender Albus while working at his barn on the backside at Churchill Downs in Louisville, Kentucky. Riley, who has two horses in the 2026 Kentucky Derby -- Albus and Incredibolt -- is the son of Derby winning trainer Bill Mott. April 20, 202616 / 26A peek at the backside of Churchill Downs during Kentucky Derby WeekTrainer Riley Mott carries the saddlecloth of 152nd Kentucky Derby contender Albus while working in his barn on the backside at Churchill Downs in Louisville, Kentucky. Riley, who has two horses in the 2026 Kentucky Derby -- Albus and Incredibolt -- is the son of Derby winning trainer Bill Mott. April 20, 202617 / 26A peek at the backside of Churchill Downs during Kentucky Derby Week2026 Kentucky Derby contender Albus on the backside at Churchill Downs in Louisville, Kentucky. The horse is trained by Riley Mott. April 20, 202618 / 26A peek at the backside of Churchill Downs during Kentucky Derby WeekTrainer Riley Mott on the backside during morning workouts at Churchill Downs in Louisville, Kentucky. Riley, who has two horses in the 2026 Kentucky Derby -- Albus and Incredibolt -- is the son of Derby winning trainer Bill Mott. April 20, 202619 / 26A peek at the backside of Churchill Downs during Kentucky Derby WeekTrainer Riley Mott watches training on the backside at Churchill Downs in Louisville, Kentucky. Riley, who has two horses in the 2026 Kentucky Derby -- Albus and Incredibolt -- is the son of Derby winning trainer Bill Mott. April 20, 202620 / 26A peek at the backside of Churchill Downs during Kentucky Derby WeekJapanese horse Wonder Dean, a contender for the 2026 Kentucky Derby, on the track with Churchill Downs veteran rider Mike Crowder aboard his pony at Churchill Downs in Louisville, Kentucky. April 20, 202621 / 26A peek at the backside of Churchill Downs during Kentucky Derby WeekJockey Junior Alvarado on the backside at Churchill Downs in Louisville, Kentucky. He's slated to ride Kentucky Derby horse Chief Wallabee for trainer Bill Mott. Alvarado won the 2025 Kentucky Derby aboard Sovereignty. April 20, 202622 / 26A peek at the backside of Churchill Downs during Kentucky Derby WeekJockey Junior Alvarado at trainer Bill Mott's barn at Churchill Downs in Louisville, Kentucky. He's slated to ride Kentucky Derby horse Chief Wallabee. April 20, 202623 / 26A peek at the backside of Churchill Downs during Kentucky Derby WeekJockey Junior Alvarado aboard 2026 Kentucky Derby horse Chief Wallabee during morning workouts at Churchill Downs in Louisville, Kentucky. The horse is trained by Bill Mott. April 20, 202624 / 26A peek at the backside of Churchill Downs during Kentucky Derby WeekJapanese horse Wonder Dean, a contender for the 2026 Kentucky Derby, on the track with Churchill Downs veteran rider Mike Crowder aboard his pony at Churchill Downs in Louisville, Kentucky. April 20, 202625 / 26A peek at the backside of Churchill Downs during Kentucky Derby Week2026 Kentucky Derby horse Right To Party on the track during a morning workout at Churchill Downs in Louisville, Kentucky. April 20, 202626 / 26A peek at the backside of Churchill Downs during Kentucky Derby Week2026 Kentucky Derby horse Right To Party on the track during a morning workout at Churchill Downs in Louisville, Kentucky. April 20, 2026History may be against Emerging Market, but Brown believes he has a solid chance at his first Kentucky Derby victory.
“It would be nice to have four or five races under your belt minimum going into a race like the Derby,” Brown said. “He’s going to have to make up for it with just raw ability. Maybe he’s fresh and doesn’t have a lot of wear and tear on him. I guess that’s the benefit. …
“He has a good turn of foot for a dirt horse. He has gears. If he gets a good pace in front of him and some smart horses to track, I think he’s a horse who can come with a fast last quarter.”