The track sits in Pevely, Missouri, in the St. Louis metropolitan area, and has historically scheduled events every Saturday night outside of the winter months. Regular series at the facility include UMP DIRTcar Late Models, UMP DIRTcar Modifieds, UMP DIRTcar Pro Modifieds, UMP DIRTcar/AARA Sportsman, and UMP DIRTcar/AARA Pro 4 Stocks — a range of classes that serves both experienced regional competitors and entry-level stock-car racers.
The physical layout is a 1/3-mile (0.54 km) oval with pronounced banking, short straightaways, and tight boundaries. Drivers have compared it to a compressed version of Eldora Speedway: the configuration demands aggression and precision simultaneously, rewarding drivers who can carry momentum through the corners without losing control in the confined space.
I-55 Raceway first hosted the World of Outlaws Sprint Car Series in 1987, beginning a relationship with the premier touring dirt-sprint organization that has continued for nearly four decades. As of 2025, the venue had hosted approximately 75 World of Outlaws events, placing it among the most frequently visited tracks in the series' history.
One of the most successful competitors at the track in World of Outlaws competition is Craig Dollansky, who won three consecutive Ironman 55 races there from 2011 to 2013. Dollansky described I-55 as an intense and demanding surface where the short straightaways require constant focus and an aggressive driving style throughout the entire lap, with no opportunity to coast or recover momentum.
Brad Sweet has also established a strong record at the facility, winning six World of Outlaws events at I-55 — the same number as his best total at any single track — with the most recent victory coming on April 14, 2023.
In 2022, I-55 Raceway hosted a round of the Superstar Racing Experience (SRX) Series, the made-for-television short-track competition co-founded by Tony Stewart. The SRX event at Pevely was won by Stewart himself. Former track co-owner Ken Schrader participated as a guest driver and finished third.
The American Sprint Car Series (ASCS) National Tour returned to I-55 in September 2025 for the first time since 1995, contesting a $10,000-to-win event. Matt Covington won the race, claiming his third victory of the 2025 ASCS season.
For 29 years, I-55 Raceway was co-owned by Ray Marler and former NASCAR driver Ken Schrader, who had a long personal history with the facility as both an owner and occasional competitor. On December 13, 2024, it was announced that Schrader and Marler had agreed to sell the track to Josh Carroll, transferring stewardship of one of the Midwest's most recognizable dirt ovals to new management. Federated Auto Parts holds the title sponsorship, lending the track its current official name.
I-55 Raceway occupies a significant place in American dirt-track culture as a venue that has maintained a continuous presence on the World of Outlaws schedule since the late 1980s while also serving a broad base of regional weekly racers. Its physical characteristics — steep banking, tight confines, fast surface — have made it a challenging and respected stop for sprint-car specialists. The track's ability to attract both grassroots weekly programs and high-profile events like the SRX Series reflects the dual role that well-operated regional ovals can play in the broader short-track ecosystem.