Following a fourth-place debut at Churchill Downs, Magnitude broke his maiden at Ellis Park, then scored again in an allowance race at Churchill.

At 43–1 odds, Magnitude stunned in the G2 Risen Star Stakes at Fair Grounds with a gate-to-wire romp, winning by 9¾ lengths in record time. His Risen Star performance earned him 50 Kentucky Derby qualifying points, and generated legitimate buzz as a horse to watch heading into the Derby. However, Magnitude's trajectory towards the Triple Crown was halted when a bone chip in his left front ankle required surgery, forcing him off the Derby trail.

Following a smooth recovery, Magnitude made an impressive comeback in July: he returned with authority to win the Iowa Derby by 9¼ lengths, clocking 1:42.26 for 1 1/16 miles.

Trainer Steve Asmussen and owner Winchell Thoroughbreds know what it takes to win the Travers, as they teamed up to score with Epicenter in 2022.