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INDIANAPOLIS - MAY 29: Balloons entertain the crowd during the Indianapolis 500 Festival Parade on May 29, 2010 in downtown Indianapolis, Indiana. (Photo by Chris Graythen/Getty Images)

The 500 Festival Parade began in 1957 and has occured ever since. It is held on the eve of the race and showcases marching bands, balloons, and celebrities. The grand marshall list has included big names like Mickey Mouse, Gene Autry, and Donald Trump.