Prevention of Equine Cruelty Act of 2008 - Amends the federal criminal code to impose a fine and/or prison term of up to three years for possessing, shipping, transporting, purchasing, selling, delivering, or receiving: (1) any horse (i.e., member of the family Equidae) with the intent that it be slaughtered for human consumption; or (2) any horse flesh or carcass with the intent that it be used for human consumption. Reduces the prison term to one year if the offense involves less than five horses or less than 2,000 pounds of horse flesh or carcass and the offender has no prior conviction for this offense.
Requires the Attorney General to provide for the humane placement or disposition of any horse seized in connection with an offense under this Act.