We consider preheating in models in which the potential for the inflaton is given by a fractional power, as is the case in axion monodromy inflation. We assume a standard coupling between the inflaton field and a scalar matter field. We find that in spite of the fact that the oscillation of the inflaton about the field value which minimizes the potential is anharmonic, there is nevertheless a parametric resonance instability, and we determine the Floquet exponent which describes this instability as a function of the parameters of the inflaton potential.