Updated

The NASCAR All-Star Race is taking place in the Lone Star State for the second year in a row.

The mid-season exhibition event is set for Sunday, May 22 at the Texas Motor Speedway.

There's a new format this year, which you can read all about here that includes a unique knockout qualifying round where the fastest eight drivers will face of in a head-to-head race that starts with a four-tire change followed by a single lap sprint to the finish line.

The drivers who have clinched a spot in the All-Star Race by being former champions, All-Star winners and race winners from the 2021 and 2022 seasons are: AJ Allmendinger, Aric Almirola, Christopher Bell, Ryan Blaney, Alex Bowman, Chase Briscoe, Kurt Busch, Kyle Busch, William Byron, Ross Chastain, Austin Cindric, Chase Elliott, Denny Hamlin, Kevin Harvick, Brad Keselowski, Kyle Larson, Joey Logano, Michael McDowell, Martin Truex Jr., and Bubba Wallace.

Kyle Larson

Kyle Larson won the 2021 NASCAR All-Star Race. (Chris Graythen/Getty Images)

Kyle Larson was the winner last year and went on to take the season title as well.

2021 NASCAR All-Star Race

The NASCAR All-Star Open will precede the main event.  (Carmen Mandato/Getty Images)

But who will take home $1 million prize in 2022?

NASCAR All Star Race

Larson is predicted to repeat as winner. (Sean Gardner/Getty Images)

According to the odds makers at FOX Bet, Larson is the favorite to repeat, ahead of Kyle Busch, Chase Elliott and William Byron.

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The action starts at 5:30 p.m. ET on FS1, when the rest of the Cup Series field will compete in the All-Star Open for three spots in the final which is scheduled to begin at 8 p.m ET on FS1