IPA: //ˈspiːdweɪ//
KK: /ˈspidˌweɪ/
A type of road or track specifically built for racing cars or motorcycles, where vehicles can travel at high speeds.
The championship race will be held at the local speedway this weekend.
Speedway is formed from "speed" (from Old English "spēd", meaning rapidity or swiftness) and "way" (from Old English "weg", meaning a path or road). The word "speedway" refers to a road or track designed for fast travel or racing.
Think of 'speed' meaning rapidity and 'way' meaning a path — a speedway is a path designed for going fast.