Peacock kicks off 2026 with Ponies, a tense and stylish Cold War espionage drama that’s as emotionally charged as it is suspenseful. Coming off the success of The Paper, All Her Fault, and The Copenhagen Test, the streamer clearly aims to cement its reputation for premium original content. Launching January 15 as a full-season drop, the eight-part thriller—co-created by Susanna Fogel and David Iserson—delivers espionage, betrayal, and razor-sharp character work from its leads, Emilia Clarke and Haley Lu Richardson.
Story
Set in Moscow, 1976, Ponies follows the unlikely partnership between Bea (Clarke), a highly educated Russian-speaking daughter of Soviet immigrants, and Twila (Richardson), a brash small-town American with zero patience for her new surroundings. Initially, they’re simply trailing their CIA-employed husbands—until tragedy strikes.
At an embassy Christmas party, the women are informed that a small aircraft carrying their spouses has crashed south of Moscow, with no survivors. The official explanation feels suspicious, and both quickly sense that the truth is being buried. When a cryptic clue is discovered—a note in Russian reading “winged horse over the entire world”—their quest for answers pulls them back into the Soviet capital, where they strike an unlikely deal to serve as covert assets for the CIA.
Operating under the cover of “Ponies”—agents deemed of no consequence—they navigate a city of constant surveillance, double agents, and political manipulation, determined to uncover the real story behind their husbands’ fate.
Performances
Clarke delivers one of her most layered performances to date, balancing Bea’s vulnerability with fierce determination. Her fluency in Russian—learned specifically for the role—adds authenticity and heightens the stakes in tense exchanges, particularly in her scenes with Artjom Gilz’s dangerous KGB officer Andrei Vasiliev and Petro Ninovskyi’s charming technician Sasha Shevchenko.
Richardson, meanwhile, injects Twila with sharp wit, emotional depth, and unapologetic boldness. She resists becoming a comedic foil, instead bringing nuance to her character’s personal evolution, including moments of unexpected intimacy. Together, Clarke and Richardson form a magnetic on-screen duo whose dynamic is the show’s heartbeat.
Behind the Scenes
Fogel and Iserson craft a series that thrives on unpredictability. While the binge-release model delivers instant gratification, Ponies’ cliffhangers and carefully layered reveals feel tailor-made for post-episode discussion. The production design captures the paranoia of Cold War Moscow with atmospheric precision, while the taut pacing ensures the audience is constantly questioning loyalties and motives.
Final Verdict
Ponies is a smart, character-driven spy thriller that blends emotional stakes with classic espionage tension. It’s a series that rewards attention to detail—every line, look, and side character could be a breadcrumb in the larger conspiracy. With a finale that leaves viewers craving more, Peacock may have found its next flagship drama. Fans of The Night Manager and The Americans will want this on their watchlist immediately.
Ponies is now streaming on JioHotstar in India.
