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Because it was contested between 3 major candidates, traft was a republican, Wilson the democrat and non other than former president teddy Roosevelt from the newly formed progressive party.
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The 1912 election is the only time a 3rd party candidate for the presidency finished higher than 3rd in the vote count.
In the 1912 election, the Republican Party was divided. Its conservative wing supported President William Howard Taft for reelection. Theodore ("Teddy") Roosevelt, who had been President from 1901-1909, led the progressive wing of the Republicans. Ultimately, Roosevelt and his supporters objected to the nomination of Taft as the Republican candidate, and formed a 3rd party, the Progressive Party, with Roosevelt as their presidential candidate. Roosevelt won 27% of the popular vote; Taft received 23% of the popular vote. Democratic candidate Woodrow Wilson got 42% of the popular vote and carried 40 states to win the Electoral College vote handily.