Gene, I think you're confusing two words: the noun prophecy (pronounced PRAH-feh-see) and the verb prophesy (PRAH-feh-sigh), which means to utter a prophecy. Larkin's using the verb in this poem.
He's saying that there are no stopwatches here prophesying--no stopwatches around to time the horses and help predict a winner. All his details are specific ways of making the general statement that this scene is very different from a race.
Oops. Cross-posted with Jim, who got here first.
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