From: Equestrian and Horse | Horse Ailments
Laryngeal Dysfunction
This concerns the nerve damage within the Larynx of the horse causing a whistling noise to be generated when the horse exerts itself.
Cause
The damaged nerves fail to control the muscles which open the Larynx during exercise causing the muscles to partly block the flow of air as the air goes into the Trachea.
Treatment
Surgery is available by doing either a hobday operation or a tie back operation.