 At 16 Margaret Bailes was one of the top U.S. sprinters with a fifth place in the 1967 AAU 200 m.

She competed for the United States in the 1968 Summer Olympics held in Mexico City, Mexico in the 4 x 100 meters where she won the gold medal with her teammates 100 m silver medalist Barbara Ferrell, Mildrette Netter and Olympic 100 m champion Wyomia Tyus.Bailes still holds the all-time Oregon state high school records for 100 meters (11.29s) and 200 meters (22.95s), set in 1968 while a she was a student at Churchill High School in Eugene, Oregon.She was inducted into the Oregon Sports Hall of Fame in 1991.