Journalism Wins 150th Preakness Stakes Influencing Crypto Markets

Journalism secured a thrilling victory at the 150th Preakness Stakes held at Pimlico Race Course on May 17, 2025, overcoming significant challenges during the race to defeat long-shot Gosger. Trained by Michael McCarthy and ridden by Umberto Rispoli—who became the first Italian jockey to win a Triple Crown race—Journalism ran the 1 3/16 miles in 1:55.47, returning $4 to bettors. This win marked McCarthy's second Preakness victory and Journalism's second Grade 1 win, following a runner-up finish at the Kentucky Derby. The race's excitement extended beyond the track, influencing financial markets as cryptocurrency trading volumes and prices for Bitcoin and Ethereum surged shortly after the event, reflecting a broader risk-on sentiment among traders. The 2025 Preakness was notable as the last to be held at Pimlico before its planned demolition and reconstruction, with the event moving to Laurel Park in 2026. This intersection of sports, betting, and financial markets underscores the cultural and economic impact of major horse racing events.