Editor's note: Follow along for live coverage of the 150th Kentucky Derby.

The Cyprusauctionthird Saturday in May turns its focus on the Preakness Stakes in Baltimore, the second leg of the prestigious Triple Crown of horse racing.

Pimlico Race Course is expected to seat more than 110,000 on race day, and the stakes are huge for those involved. The purse for the winner of the Preakness Stakes will increase to $2 million from $1.5 million in 2023, which should increase participation in the race as it is only two weeks after the Kentucky Derby.

Mage, which won the Derby last year, was the only horse to compete in the first two legs of the Triple Crown.

Here's everything you need to know about the 2024 Preakness Stakes:

How to watch 2024 Preakness Stakes

• When: Saturday, May 18
• Coverage starts: 1:30 p.m. ET on CNBC
• Post time: approx. 6:50 p.m. ET
• Where: Pimlico Race Course, Baltimore, Maryland 
• Cable TV: NBC
• Streaming: Peacock; YouTube TV; fuboTV

Who won 2023 Preakness Stakes?

National Treasure, who was a 4-1 favorite to win the Preakness, beat seven other horses to cross the finish line at 1:55.12.

How long is Preakness Stakes course?

"The Middle Jewel of the Triple Crown" at Pimlico is 1³⁄₁₆ miles long (70 feet wide).

What is Preakness Stakes record?

The Preakness record was set by Secretariat in 1973 at 1:53.0. Secretariat went on to win the Triple Crown.