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Summer in Pelican Town brings plenty of distractions, but few are as profitable as the Trout Derby. This short festival rewards skilled anglers with golden tags that translate directly into hats, sprinklers, totems, and other useful loot. Below is everything that makes the event tick, plus how to walk away with as many prizes as possible.

The Trout Derby runs across two days, the 20th and 21st of summer, from 6 AM to 2 AM. Every rainbow trout caught during that window carries a 33% chance to drop a golden tag, which acts as the festival currency. Tags can be saved for future years if a deadline gets missed, so nothing goes to waste.
A bit of prep work raises the haul significantly. The simplest tool is the bait maker, unlocked at fishing level 6. Crafting it requires three iron bars, three coral, and one sea urchin. Drop a rainbow trout inside and it produces targeted bait that attracts only that species, which is exactly what the derby asks for.
Rainbow trout themselves spawn on sunny summer days in three locations:
Players who have already maxed every skill to level 10 and unlocked fishing mastery have a stronger option: challenger bait. A perfect catch with challenger bait yields three fish at once, which translates to near-guaranteed tag drops. A single catch still produces only one tag, but more attempts get packed into fewer casts.
If neither option is available, swing by Willy's fish shop each morning. He occasionally stocks trout bait directly, so grab it whenever it appears.

Image by Margotbean
The derby behaves like a mini-festival. Time keeps flowing normally, animals still want their feed, and shops keep their regular hours (Willy's being the exception). Race through morning chores, then head to the river in Cindersap Forest near Marnie's Ranch and start casting.
One welcome quirk: rainbow trout normally require sunny weather, but the festival disables that restriction. Rain, cloud, or shine, the fish keep biting. From there, the routine is straightforward. Cast, reel, trade tags, repeat.
Golden tags are exchanged at the event booth in Cindersap Forest. The first tag always hands over a tent kit, and the second rolls a random pick from the prize pool. After that, the rewards cycle through the list in order, starting from whichever item came up on the second turn-in.
The full reward pool:
For example, if a second tag turns into a crab pot, the third tag rewards three mystery boxes, the fourth a diamond, and so on until the cycle loops back. Planning ahead means most of the list is reachable across both days, especially with a bait maker churning out targeted bait between casts.
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