Path of Exile players will want to keep honing their play skills in preparation for the first "short term race" event that was announced on the official forums recently. Race events are categorized by season and the ultimate winner of the entire season will take home some bounteous loot.
A race event is a fresh league that lasts for anywhere from an hour to a week. They all take place in their own separate economies with new characters. Your existing in-game wealth doesn’t help in these races - they test your playskill and luck. The leagues generally reward players who can level up quickly and place in the top ranks of their character class. There are also rewards for objectives like finishing side quests or full-clearing areas first.
Check out the schedule and the list of prizes on the Path of Exile page.