The Indianapolis 500 is an automobile race, held annually on the last weekend in May to coincide with Memorial Day. The race is held at the Indianapolis Motor Speedway, located in Speedway, Indiana. The Indianapolis 500 is an open-wheel car race and is currently sanctioned by Indy Racing League LLC, and has been run as an IndyCar Series event since 1996. The Indianapolis 500 is considered one of the most traditional and historical races in the world and is also considered one of the three most significant motorsport races in the world.