Proud Truth made two winning starts at age two. At three, he was one of the early favorites for the Kentucky Derby after he won the Fountain of Youth Stakes and Florida Derby. In his next start, he finished second in the Flamingo Stakes. In the Flamingo, Chief's Crown crossed the wire first but was disqualified for interference, moving Proud Truth up to the winning position. The owners of Chief's Crown then appealed to the Florida Division of Pari-Mutuel Wagering, which overturned the disqualification. Therefore, Chief's Crown was reinstated as the Flamingo winner, and Proud Truth officially finished second in that race. [1] In Proud Truth's final start prior to the Kentucky Derby, he finished second in the Wood Memorial Stakes. In the Derby, he had a rough trip in the thirteen-horse field and finished fifth to Spend A Buck. He did not compete in the Preakness Stakes, instead focusing on the longest of the Triple Crown races, the Belmont Stakes. As a tune-up, Proud Truth won the Peter Pan Stakes but suffered a fracture in his left front leg and was unable to race in the Belmont. [2]
Recovered from his injury, Proud Truth returned to racing in the fall of 1985 and won an allowance race, followed by a victory in the Grade III Discovery Handicap. In the Breeders' Cup Classic, he was sent off as the fifth betting choice in an eight-horse field. Under jockey Jorge Velásquez, he came from last place to defeat a strong field that included heavy favorite Chief's Crown, Gate Dancer, which finished second by a head, Turkoman, and Vanlandingham.
Proud Truth returned to racing at age four in 1986. Of his eight starts, his best performances were a second by a nose in the Grade I Gulfstream Park Handicap and a win in his turf debut in the Tidal Handicap at Belmont Park. He came out of his final race with an injury and was retired to stud duty at Darby Dan Farm for the 1987 season.