What changed
Point of Law, formerly owned by King Charles, has won the 2026 Melbourne Cup with Australian jockey Ethan Brown aboard. Sold earlier this year to investors including former AFL player Chris Judd and his wife Bec Judd, the three-year-old moved from mid-pack to seize the lead in the final stretch.
The race carried A$10.2m in prize money. Ciaron Maher trained Point of Law, as well as the second- and third-place finishers, Zahrann and Juja Kibo.
Why it matters
The victory turns a royal cast-off into the day’s biggest racing success. Point of Law had already won the Geelong Cup last month, but this was the result that made the sale look spectacularly well timed.
It was also a defining moment for Brown. After a 2023 fall left him in hospital and kept him out of racing for six months, he returned to ride the country’s most prestigious race. His instruction to himself was simple: stay cool and stay patient.
The triumph came on a day that showed both the pull and the pressure surrounding Australian racing. Tens of thousands attended Flemington in sunny weather, with Robbie Williams performing before the race. Outside the course, the Nup to the Cup movement protested against horse racing, while Asterix was scratched after penetrene was administered on race day. Trainer Chris Waller was reportedly fined A$50,000 over what he called a staff member’s mistake.
That tension is hard to miss. More than 60% of Australians still describe the Melbourne Cup as part of the country’s national identity, but only 9% reported high interest this year. The race remains enormous. Its place in the culture is no longer automatic.
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