Graded stakes are a classification of horse races that signify a high level of quality and competition. These races are divided into three categories: Grade I, Grade II, and Grade III, with Grade I being the most prestigious. Graded stakes races often attract top horses, trainers, and jockeys, making them significant events in the horse racing calendar. The grading system helps to standardize the quality of races across different tracks and regions. The American Graded Stakes Committee oversees the grading process, ensuring that races meet specific criteria, such as purse size and the quality of the horses entered. Graded stakes races are crucial for determining the rankings and breeding potential of racehorses.