2026 Preakness Stakes predictions, odds, field, contenders: Picks from premier horse racing expert

Horse racing fans and bettors will have another big opportunity on Saturday, May 16 when the 151st running of the Preakness Stakes takes place at 6:50 p.m. ET. Laurel Park will be the setting for the 2026 Preakness Stakes as Pimlico Race Course continues to undergo renovations. The biggest story regarding the Preakness Stakes 2026 is Golden Tempo's withdrawal after winning the Kentucky Derby, which means the potential for a Triple Crown will have to wait one more year.

Iron Honor is the betting favorite in the latest Preakness Stakes odds at 9-2 but he's followed closely by Taj Mahal, Chip Honcho and Incredibolt at 5-1 while Ocelli is at 6-1. Before making any 2026 Preakness Stakes picks, be sure to see the 2026 Preakness Stakes predictions and best bets from SportsLine's elite horse racing expert Gene Menez.

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A former reporter and editor at Sports Illustrated, Menez covered an array of sports, including horse racing, for the magazine and its website for almost 14 years. Between 2010 and 2012, he served as SI's handicapper for the Triple Crown races and correctly predicted Super Saver to win the Kentucky Derby in 2010.

In 2015, while writing for Sports on Earth, Menez accurately gave out the Kentucky Derby superfecta (American Pharoah, Firing Line, Dortmund and Frosted), which paid $1,268.20 for $2. Then in 2017, he tweeted out his Kentucky Derby picks, including Always Dreaming to win, and hit the Pick 4, which paid almost $6,900 on a $1 bet. In 2024, Menez gave out 18-1 Mystik Dan as a live longshot in the Kentucky Derby. In last year's Kentucky Derby, he hammered the exacta and trifecta for a $1,045 payout. Anyone who has followed his horse racing betting advice could be way up.

Now, Menez has handicapped the 2026 Preakness Stakes field and revealed his picks. Go here to see them. 

Top 2026 Preakness Stakes predictions

One of Menez's surprising 2026 Preakness Stakes picks: He is fading the favorite, Iron Honor. The horse won his first two starts, which came at 3/4 mile and 1 mile. But then he attempted the 1 1/8 mile distance at the Wood Memorial and had a disastrous finish, placing seventh. The Preakness will be even longer than the Wood Memorial, making it hard to feel confident about his chances versus an even stronger field. While Iron Honor's sire, Nyquist, won the 2016 Kentucky Derby, he didn't fare as well at that year's Preakness. Just like Iron Honor, Nyquist was the Preakness favorite but placed third, which ended his undefeated racing career after winning each of his first eight races. There are just too many red flags for Iron Honor to justify backing him with Preakness Stakes bets. See who to back at SportsLine.

Another stunner: Menez is high on The Hell We Did, even though he is a longshot at 15-1. Menez notes he's been bred to improve over added distance and has been training at Laurel Park for the last two weeks, giving his jockey and trainer some familiarity with how to approach the race.

"He also should sit the perfect trip behind the speed horses and in front of the late-running closers who are returning in two weeks," Menez says. "And best of all, the price should be right." See which other horses to back at SportsLine.

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How to make 2026 Preakness Stakes picks, bets

Menez's top pick is a horse who was "brilliantly fast." He also is high on a double-digit longshot who is "finally fit." Menez is sharing which horse it is, along with his entire projected 2026 Preakness Stakes leaderboard, over at SportsLine.

Which horse wins the Preakness Stakes 2026, and which longshot is a must-back? Check out the latest 2026 Preakness Stakes odds below, then visit SportsLine to see Menez's picks for the Preakness Stakes, all from the expert who had a $1,045 payout at last year's race.

2026 Preakness Stakes odds