Can you solve this riddle?

I am a word, a thing, a one.
I'm read both ways, still the same to come.
I can be colorful, a flash of blue.
or maybe a scarlet, or purple too.
I'm in races, you need to be in me.
to start my heart beating to your nice mystery.
If you win, however, this race of new fun,
a trophy is given, of you, and you're DONE.

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