Arrogate, ridden by Mike Smith, narrowly edged out California Chrome (right) in November -- and the world's top two horses will again go head to head at Florida's Gulfstream Park for the $7 million first prize on Saturday.
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Photos:Horse racing's new powerplay
The Pegasus World Cup is expected to be the final race for California Chrome. The American thoroughbred has enjoyed a remarkable career with notable victories at the Kentucky Derby and the Preakness Stakes in 2014.
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Former politician and CEO Belinda Stronach is hoping to shake up the world of horse racing with a new record-breaking $12 million event.