The Kentucky Derby is one of the biggest gambling events of the year, a major televised event, and -- for those in attendance -- one of the greatest displays of pageantry you'll ever see.

For some, the race is the only two minutes they will pay to horse racing in the calendar year. Just over two weeks away from the May 2 race, several interesting storylines are emerging, all of which will deliver intrigue in the lead-up to the Derby itself. If you're a bit behind on the latest horse racing news -- and who isn't? -- here's a quick primer.

1. American Pharoah is the early favorite.

After losing his first race of the year, American Pharoah made some changes, most notably by removing its blinders. Since then, the horse has been dominant, winning every race and pulling into the lead as a Derby favorite.

While many are saying this year's field is one of the deeper editions of the Kentucky Derby in many years, Pharoah is currently the odds-on favorite and is likely to maintain that position until race day.

2. One guy trains the top two horses.

Bob Baffert doesn't just train American Pharoah, he also has Dortmund -- another heavy favorite, and perhaps the biggest threat to beat Pharoah himself. Dortmund is undefeated so far this season and was sired by Big Brown, who won the Derby in 2008. If Dortmund continues to look strong, he could enter the Derby at a co-favorite with American Pharoah.

Meanwhile, Baffert seems to be in great position to have two horses place -- and maybe even go 1-2. In a way, you could say Baffert is his own greatest threat.

3. Churchill Downs bans selfie sticks and drones.

No one's getting the Kentucky Derby confused with being a breeding ground of progress and innovation -- just look at the way people dress -- but Churchill Downs is taking a very proactive stance on emerging technologies that could interfere with the horse racing experience.

Selfie sticks will not be allowed on the property, so attendees will be forced to take slightly worse selfies at slightly more of an inconvenience. And if you're thinking about bringing your pet drone with you, think again: the race has outlawed drones as well.

Giant hats, however, will still be allowed. The more obstructing of views, the better.

More: Horse Racing's Newest Performance Enhancing Weapon Is ... Jet Lag?

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