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The driver currently atop the IndyCar standings is the same person who won last year's Indianapolis 500 and also earned the pole position at the 2026 Indianapolis 500 earlier this week.So it was no surprise that Alex Palou has also been installed by oddsmakers as a significant favorite heading into the 108th running of "The Greatest Spectacle in Racing." The 4-time IndyCar Series champion from Spain has three wins this season and he's the only driver on circuit with more than one in 2026.David Malukas, Conor Daly and Pato O'Ward are considered the top contenders to challenge Palou's quest for a repeat in America's most famous open-wheel race. The betting markets, however, appear to be skeptical about Katherine Legge's attempt at 'The Double,' with plans to race in both the Indianapolis 500 and NASCAR's Coca-Cola 600 on the same day. Her odds to win are among the worst in the field.Here's a breakdown of the current odds heading into the 2026 Indianapolis 500, with all the drivers in the race field ranked by their odds to first cross the brick finish line at Indianapolis Motor Speedway:Indianapolis 500: Power rankings based on 2026 oddsBetMGM odds as of 2:30 p.m. ET on Wednesday, May 20Favorite1. Alex Palou (+250)Contenders2. David Malukas (+675)3. Conor Daly (+700)4. Pato O'Ward (+725)T5. Josef Newgarden (+950)T5. Alexander Rossi (+950)T7. Scott McLaughlin (+1200)T7. Felix Rozenqvist (+1200)9. Santino Ferrucci (+1400)10. Scott Dixon (+1600)11. Kyle Kirkwood (+1800)12. Takuma Sato (+2200)T13. Will Power (+3000)T13. Kyffin Simpson (+3000)T15. Helio Castroneves (+3500)T15. Christian Rasmussen (+3500)T15. Christian Lundgaard (+3500)T15. Rinus Veekay (+3500)T15. Graham Rahal (+3500)T15. Caio Collet (+3500)LongshotsT21. Marcus Ericsson (+4000)T21. Ryan Hunter-Reay (+4000)T21. Marcus Armstrong (+4000)24. Ed Carpenter (+5000)25. Romain Grosjean (+8000)26. Nolan Siegal (+10,000)T27. Mick Schumacher (+12,500)T27. Dennis Hauger (+12,500)T27. Louis Foster (+12,500)30. Jack Harvey (+15,000)T31. Sting Ray Bobb (+50,000)T31. Jacob Abel (+50,000)T31. Katherine Legge (+50,000)Watch the Indy 500 with FuboHow to watch Indy 500: TV, live streaming optionsDate: Sunday, May 24Race time: 12:45 p.m. ETTV channel: FOXLive stream: Fox One, Fubo (free trial to new subscribers)Location: Indianapolis Motor Speedway
