Skaters race around a standard 111.12-meter oval that has been approved by the International Skating Union (ISU). Athletes race against each other and are timed to the 1/1000th of a second as they skate counterclockwise around the oval, which means the inner side of the track is on the left-hand side of the skater. Skaters advance through rounds, which vary from event to event, by beating their opponents to the finish line.

The following officials are necessary at an Olympic speed skating competition:

• Referee and four assistant referees (two of the four assistant referees are assigned to the video replay system)
• Two starters
• Two competitors' stewards
• Heat box steward
• Photo finish judge
• Lap scorer
• Lap recorder
• Announcer
• Track stewards

An athlete can be disqualified for the following infractions:

Impeding/Obstruction: Deliberately blocking, charging or pushing another competitor

Two false starts: Starting before the gun sounds to start the race. Each competitor is allowed one false start, and is disqualified after a second.

Off-track: Skating inside the turn markers

Slowing down: Only refers to unnecessary decelerations

Team skating: Refers to an act in which skaters conspire to affect the outcome of the race

Kicking out: Deliberately outstretching a leg or skate and endangering another skater anywhere in the race. Similarly, skaters also are forbidden from diving across the finish line.

Because short track races see many skaters tearing around tight turns at high speeds, crashes happen frequently. As a result, the most common penalties assessed to short track skaters are interference and obstruction, both of which can result in disqualification.

Other common penalties include false starts and making contact while passing an opponent.

If a competitor infringes on the racing rules in a manner deemed unsafe, harmful or hazardous by the referee, a yellow card is shown to the offending skater.  The skater then is disqualified from the race and excluded from the remainder of that event's competition. The skater forfeits results accrued in the previous rounds of that event.

If the infringement occurred in a relay, the team faces the same sanction.

In the case of an infringement of the rules, which is deemed by the referee to be intentionally dangerous or grossly negligent, the skater is shown a red card. In the case where a skater is shown two yellow cards in the same competition, the skater then is shown a red card. 

For any improper conduct, either on or off the ice, a red card also may be shown to the skater.

A skater who is shown a red card immediately is excluded from the particular distance as well as the rest of the Olympic Winter Games, and is listed on the bottom of the event classification with no ranking. If a skater is shown a red card during a relay race, the affected relay team immediately is excluded from the relay competition, and is not ranked in the relay classification. Individual sanctions for the skater(s) concerned also will apply.

Sanctions are not retroactive. A skater being shown a red card, for instance, in the last distance (1000m), will not have his/her previous results over the other distances (500m and 1500m) deleted.

In short track, there are many different acts that constitute a false start:

• Placing one or both skates on or over the start line
• Placing one or both hands on the ice
• Not placing both skates on the ice
• Taking the starting position before the "ready" command
• Taking the starting position too long after the "ready" command
• Moving toward or across the finish line before the gun, which signals the true beginning of the race, is fired
• Making a noise which causes another skater to start the race prematurely

Each skater is allowed one false start before any penalties are assessed. If a skater commits two false starts, they receive a penalty and are disqualified from the race in question.

Short track skaters must wear a helmet, cut-resistant gloves or mitts (which also must be predominantly white for Olympic competitions), shin protectors, a long-sleeved and long-legged racing suit, padded or hard-shell padded knee protection, cut-resistant neck gear and, of course, skates. Each piece of equipment must be in compliance with its respective standards. For example, helmets must be of a regular shape without any protrusions, and racing suits must conform to the natural shape of the body.

In the men’s, women’s and mixed relays, teams of four athletes race laps around the same 111.12m oval used for the individual events. One skater from each team races at a time. Inactive skaters wait in the marked area near the inside of the oval. Inactive skaters only may leave that area to relieve an active skater. 

In order to exchange skaters, the active skater must touch the inactive skater without interfering with other teams. Exchanges can't happen laterally; the inactive skater must stand directly in front of the approaching active skater, who pushes the inactive skater to initiate the exchange and transfer their momentum to the inactive skater. Skaters may be relayed (changed) at any time except during the last two laps, which must be skated by the same athlete.

In both the men’s and women’s relays, eight teams compete in the semifinals, racing 45 and 27 laps, respectively. 

Each mixed relay team must consist of between two and four women, as well as two to four men. Each athlete races twice in the following order: woman-woman-man-man. The races, which are 18 laps long, are broken into segments for when the team members must base their exchanges: four segments of 2.5 laps, and four segments of two laps. In the event of a fall, only a team member of the same gender may complete the segment in progress with the exception of the last 2.5 laps, during which any member may take the relay if a fall occurs.

On top of all the protective equipment short track skaters wear — like helmets, neck guards, eyewear and knee pads — short track skates must have closed tubes (which refers to the part of the skate which connects the blade to the boot), and the blades must be rounded to a minimum radius of 10mm to reduce the risk of injury.

Additionally, the walls of the oval are lined with padding to protect skaters who may collide with the barriers after a fall or crash. The padding must be moveable, allowing it to shift slightly as skaters collide with it, and able to absorb impact. 

Since there are no demarcated lanes in short track, ‘lane changes’ refer to lateral movements a skater makes in order to protect their position or attempt to pass a skater ahead of them. Lane changes only may occur in the straight zone, and skaters only may initiate a lane change if the waist of the skater initiating the change is above the shoulders of the skater being passed.

The skater in the lead always has the right of way, meaning the skater making the lane change is held responsible for collisions, especially if their waist is not in front of their opponent’s shoulder.

The 500m and 1000m events have identical formats. There are 16 races in all. In the end, the medalists skate four races: first round, quarterfinals, semifinals and the A or B final.

Through the first round and quarterfinals, skaters race in heats, and the first two to skate across the finish line advance to the next round (barring any disqualifications). At the end of each of the two semifinals, the first- and second-place finishers advance to the A final to vie for medals, while the third- and fourth-place finishers compete in the B final to determine placement. The A final is one race of six skaters to decide places one through six. The B final is one race of six skaters to decide places seven through 12. 

The 1500m event has a unique format that eliminates the need for quarterfinals. There are 11 races in all. In the end, the medalists skate three races: the first round, semifinals and A or B finals.

Similarly to the first round in the 500m and 1000m sprints, skaters race in heats through the first round of the 1500m competition. Three skaters then advance to the semifinals. At the end of each of the three semifinals, the first- and second-place finishers advance to the A final to vie for medals, while the third- and fourth-place finishers compete in the B final to determine placement. The A final is one race of six skaters to decide places one through six. The B final is one race of six skaters to decide places seven through 12. 

In any of the events, it is possible for someone from the B final to win a medal, if enough people from the A final are disqualified. For instance, in a 500m final, if two of the four A finalists are disqualified, the winner of the B final receives the third-place ranking and the bronze medal. Disqualified skaters are not ranked.

Once a skater is eliminated in the heats or quarterfinal, he/she is finished. There is no repechage. Additionally, if a skater qualifies for an individual final and is injured before it is contested, he or she is not replaced. 

Protests, which typically are challenges made against a referee's decision on the oval, only may be made in the event of perceived incorrect data processing or mathematical calculation. Skaters may not protest decisions regarding disqualification for rule violations. 

A skater's protest must be submitted directly to the referee who made the decision in question, either in person or via email. Additionally, the protest must be made within 24 hours after the completion of the competition. The referee then is allowed time to review any relevant video feed before they deliver their decision and reasoning, which are final and can not be appealed.

Appeals usually request formal reviews of decisions made by a governing body, committee or individual with authority regarding eligibility, selection, disciplinary actions and other matters related to participation. Skaters also may appeal the panel of officials assigned to review an appeal, but only in specific cases.

Appeals must be filed with the Court of Arbitration for Sport, which reviews appeals regarding the following topics: the eligibility of a skater, official or ISU office holder; penalties against and suspensions of ISU members; or disciplinary actions against skaters, officials or other participating ISU members. Appeals regarding eligibility must be made before the competition in question begins. For appeals against decisions made by a referee, such as incorrect mathematical calculations, the skater must submit their appeal within 30 days from the issuance of the decision. Appeals do not affect the referee's decision in any way, including suspension of the decision, until after they are reviewed.