The 150th Preakness Stakes runs Saturday with Journalism pegged as the betting favorite to capture the second leg of American horse racing's Triple Crown.

Journalism is a short +120 favorite in the nine-horse race at Pimlico in Baltimore. He was the favorite heading into the Kentucky Derby but placed second to Sovereignty.

Speaking of the Kentucky Derby winner: Sovereignty won't be running in the Preakness, eliminating the potential for a third Triple Crown winner in the last 11 years.

Preakness odds

Journalism earned the favorite position for the Kentucky Derby largely due to his win at the Santa Anita Derby, one of the key prep races before heading to Churchill Downs.

The Preakness is the shortest of the Triple Crown races at 9.5 furlongs (one furlong is an eighth of a mile). This may be a better distance for Journalism as he ran out of steam late at the Kentucky Derby. His four career victories were all races of nine furlongs or shorter.

Sandman and American Promise are the only other two horses competing in the Preakness that also ran in the Kentucky Derby. Sandman finished seventh, while American Promise came 16th. They were +500 and +1100 in Kentucky, respectively.

Goal Oriented, a Bob Baffert-trained horse, is the third favorite and has two wins in two career races. He won a Kentucky Derby preliminary race at Churchill Downs.

A nine-horse field is a stark difference compared to 19 that ran in the Kentucky Derby. A smaller field means less traffic for the faster horses to navigate, usually allowing them to break away from the pack. The odds reflect this, and Journalism should have a good opportunity to win as the favorite.