The race was first held as the C.E. McDougall Stakes over 1200m at Eagle Farm on 17 December 2005 when it was won by Tantra trained by Gai Waterhouse and ridden by Scott Seamer. The race wasn’t held in 2007 due to equine influenza, then in 2008 the distance was reduced to 1000m. In 2009 the name was changed to the Calaway Gal Stakes. In 2013 it was moved to Doomben where it was run until 2019 over 1010m (2013), 1050m (2014-2015) and 1110m (2016 -2019). In 2020 it returned to Eagle Farm over 1000m.
The equivalent race for colts and geldings is the Phelan Ready Stakes which has a much longer history, dating back to 1939.
Calaway Gal was a brown filly/mare foaled on 21 August 1999 who won the 2002 Golden Slipper.