The 2026 Preakness Stakes is set to run on Saturday, May 16, at 6:50 p.m. ET from Laurel Park in Maryland, and this year's race is shaping up to be a thrilling showdown without a Triple Crown on the line. That's because Kentucky Derby winner Golden Tempo will not be in the field, leaving the door wide open for a new champion to emerge in the second leg of horse racing's most prestigious series.

Leading the charge is Iron Honor, the morning-line favorite at 9-2 odds, who drew the No. 9 post position. Close on his heels are three contenders all listed at 5-1: Incredibolt (post position No. 12), Taj Mahal (post position No. 1), and Chip Honcho (post position No. 6). With a 14-horse field, the competition is deeper than last year's nine-horse lineup, adding extra drama to every stride.

For context, the 2025 Preakness saw Journalism win as the favorite, holding off Gosger and Sandman. This year, bettors will be watching closely to see if Iron Honor can replicate that success—or if a longshot steals the spotlight.

Here’s a full look at the odds and post positions for every horse in the 2026 Preakness Stakes: