Another primary feud from Raw was between Shawn Michaels and Vince McMahon. At the Royal Rumble, during the Royal Rumble match, Vince distracted Michaels as his music started to play. During that time, Shane McMahon, who was not an official entrant in the match, eliminated Michaels after attacking him from behind. One month later, on the February 27 edition of "Raw", Shane hit Michaels with a steel chair and forced him to "kiss" Vince's ass, thus joining Vince's "Kiss My Ass Club."<ref name="2/27 Raw"></ref> Vince then announced that him and Michaels would face off against each other at WrestleMania. On "Raw" two weeks later, Vince forced Michaels to take a public drug test. During the test, however, Michaels threw his urine on both Vince and Shane.<ref name="3/06 Raw"></ref> Later that night, Michaels faced off against The Spirit Squad in a Steel Cage match. The Spirit Squad won the match by pinning Michaels after Shane interfered and slammed the cage door on Michaels. After the match, Shane continued attacking Michaels, causing him to bleed in the process, and executed a corner-to-corner missile dropkick. On the March 18 edition of "Saturday Night's Main Event", Michaels faced off against Shane in a Street Fight. Near the end of the match, Shane locked Michaels in the sharpshooter and Vince ordered the match to end. Vince screwed Michaels, claiming he submitted to the move, and declared Shane the winner via submission. On the March 20 edition of "Raw", Vince announced that his match against Michaels at WrestleMania would now be a No Holds Barred match.
One of the featured matches on the undercard was a Casket match between The Undertaker and Mark Henry. On the March 3 edition of "SmackDown!", Undertaker challenged Angle for the World Heavyweight Championship. During the match, after Undertaker executed a Tombstone piledriver, Henry came out attacked Undertaker, causing the match the end via disqualification.<ref name="3/03 SD!"></ref> Undertaker won the match, but since a championship cannot change hands via countout or disqualification, he did not win the title. The following week, on "SmackDown!", Undertaker challenged Henry to a Casket match at WrestleMania. On the March 18 edition of "Saturday Night's Main Event", Henry, along with his manager Daivari, called out The Undertaker. Undertaker came out, accompanied by Druids carrying a casket, and the two started attacking each other. Shortly after, Undertaker executed a chokeslam, followed by a Tombstone piledriver, to Daivari on the casket.
Before the event went live on pay-per-view, a dark match was held which was an 18-man interpromotional battle royal. Viscera won the battle royal last eliminating Snitsky. After winning the battle royal, he kissed Lilian Garcia. Michelle Williams sang "America the Beautiful" before the show.
The opening match was for the World Tag Team Championship between champions Kane and The Big Show and Carlito and Chris Masters. Kane hit Masters with a big boot, then chokeslammed Carlito to get the victory and to retain the World Tag Team Championship.
The second match was the Money in the Bank ladder match between, Rob Van Dam, Shelton Benjamin, Ric Flair, Finlay, Bobby Lashley and Matt Hardy. In the beginning, Benjamin propped a ladder against the ring rope, then ran it up and launched it into a frontflip on the other contestants outside the ring. Later on, Hardy superplexed Flair off the top of the ladder and Flair's leg injury increased. He was then taken away by the referees to backstage. Flair came back but Finlay hit him with the shillelagh. RVD would then stand up on top of the 15-foot ladder and hit Finlay with a Five-Star Frog Splash. RVD climbed the ladder, but was stopped when Benjamin springboarded onto RVD and delivered each other blows back and fourth. Hardy came out with a second ladder and joined the two. RVD pushed Hardy and Benjamin's ladder over with his feet and pushed them sending them both smashing on the floor. RVD grabbed the briefcase and went on to win the 2006 Money in the Bank ladder match.
Howard Finkel introduced the WWE Hall of Fame class of 2006. First of all, he announced that Bret Hart would not be coming to attend the event, as he did not feel comfortable. "Mean" Gene Okerlund, "Sensational" Sherri Martel, Tony Atlas, William "The Refrigerator" Perry and The Blackjacks (Blackjack Mulligan and Blackjack Lanza) attended the class while Eddie Guerrero was represented by his wife Vickie Guerrero who was supported by Eddie's nephew Chavo Guerrero.
The third match was between John "Bradshaw" Layfield and Chris Benoit for WWE United States Championship. During JBL's entrance, the entrance ramp was raised and JBL's limousine drove out from underneath. JBL hit Benoit a Clothesline From Hell but Benoit avoided the move and applied in the Crippler Crossface. JBL flipped Benoit over on his back and used ropes for leverage and then the referee counted to 3 as JBL won the WWE United States Championship.
The fourth match was a hardcore match between Edge and Mick Foley. When Edge delivered Foley a Spear, he cut his arm and his blood poured out. Foley removed his clothing and revealed that he was wrapped in a razor wire. Near the end of the match, Foley had Edge in control and pulled out a table. Lita then hit Foley in between the legs with a barbed wire bat, and lit the table which then allowed Edge to hit a Spear to Foley through the ring ropes through the flaming table on the outside, and pinned Foley to get the win.
The fifth match was a handicap match where Booker T and Sharmell faced The Boogeyman. He put the worms into his mouth and chewed them and then kissed Sharmell. Sharmell screamed and immediately left the match running to backstage. Boogeyman hit Booker a Falling Chokebomb and pinned Booker to get the victory.
The sixth match was a divas match between Trish Stratus and Mickie James for the WWE Women's Championship. At the end of the match, Mickie hit a Mick Kick on Trish's head which knocked out Trish and then Mickie pinned Trish to win the match and the WWE Women's Championship.
The seventh match was a Casket match between The Undertaker and Mark Henry. Undertaker took advantage and hit Henry with a Last Ride. While Henry was out of the ring, Undertaker hit him with a suicide dive over the top rope. Undertaker went on to hit Henry with a Tombstone Piledriver and then pushed him into the casket to win the match and keeping his undefeated WrestleMania streak alive improving his WrestleMania record to 14-0.
The eighth match was a No Holds Barred match between Shawn Michaels and Vince McMahon. Michaels controlled all the five men, by throing Kenny onto the other four men on the outside. Shawn went to deliver McMahon a Sweet Chin Music but instead he got a trash can and a table. He was going to hit McMahon a diving elbow drop from the top of a ladder until he got a taller ladder. He put McMahon on a table and put a trashcan over McMahon's head. Michaels then climbed on the top of the tall ladder and hit McMahon a diving elbow drop. Michaels then hit McMahon with a Sweet Chin Music. Michaels pinned McMahon to win the match.
The ninth match was a Triple Threat match between Kurt Angle, Rey Mysterio and Randy Orton for the World Heavyweight Championship. During Mysterio's entrance, P.O.D. performed Mysterio's music entrance live. Angle kicked out of an RKO by Orton and a West Coast Pop by Mysterio. At the end, Mysterio went on to hit Orton a 619 followed by a West Coast Pop pinfall victory. As a result, Rey Mysterio became the new World Heavyweight Champion. After the match, Mysterio celebrated with Chavo Guerrero and Vickie Guerrero.
The tenth match was a Playboy Pillow Fight between Torrie Wilson and Candice Michelle. It was a quick match which Torrie had in control. She hit Candice a snap suplex and a backdrop. She pulled Candice's dress and pinned her with a roll-up.