The Indianapolis 500 presented by PennGrade Motor Oil is an automobile race held annually at Indianapolis Motor Speedway in Speedway, Indiana, an enclave suburb of Indianapolis, Indiana. The event is held over Memorial Day weekend, which is typically the last weekend in May. It is contested as part of the Verizon IndyCar Series, the top level of American Championship Car racing, an open-wheel formula colloquially known as "Indy Car Racing".