The colt trained by Bob Baffert set the pace in the Kentucky Derby before being overtaken in the stretch by I'll Have Another, who won by 1 1/2 lengths.
The Derby winner is the second-favourite at 5-2 in the 11-horse field entered Wednesday.
The odds were set Pimlico Race Course handicapper Frank Carulli. The field is the smallest since 2007, when Curlin beat Derby winner Street Sense in a nine-horse field.
I'll Have Another, owner J. Paul Reddam of Windsor, Ont., drew the No. 9 post for the 1 3-16-mile Preakness. A win would give him a chance to become the first Triple Crown winner since Affirmed in 1978. Bodemeister drew the No. 7 post.
Also entered are Tiger Walk (30-1), Teeth of the Dog (15-1), Pretension (30-1), Zetterholm (20-1), Went the Day Well (6-1), Creative Cause (6-1), Daddy Nose Best (12-1), Optimizer (30-1) and Cozzetti (30-1).