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Is the Indy 500 a Formula 1 event?

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The Editors of Encyclopaedia Britannica
Encyclopaedia Britannica's editors oversee subject areas in which they have extensive knowledge, whether from years of experience gained by working on that content or via study for an advanced degree....
The Editors of Encyclopaedia Britannica

The Indy 500 is not a Formula 1 event. And it is not a NASCAR race. The Indy 500 is part of the IndyCar series. It is one of the events, along with the 24 Hours of Le Mans and the Monaco Grand Prix, that forms the triple crown of motorsports.