Restricted to only three-year-old horses bred in Canada, it is contested on dirt over a distance of 1+3⁄16 miles (1.9 km; 9+1⁄2 furlongs).

Taylor colt New Providence emerged as a Triple Crown champion in its first year of existence.

[1] According to the racetrack's website, for fans, the most popular winner of the race was the Canadian and American Hall of Fame filly Dance Smartly who went on to win the 1991 Triple Crown.

To date, no female jockey has won the Prince of Wales Stakes, although Francine Villeneuve and Autumn Snow lost the 2005 running by a nose to Ablo.

[2] He finished third aboard Shoal Water, while she brought her horse, Sonofawac, home in sixth position.