The verb form of "Is entered in the race"
Solution 1:
This is a great question, thankfully with a deceptively straightforward answer!
This is an example of a stative passive construction. Stative passives describe a state rather than the result of an action (eventive passive.) Confusion arises because, in English, no distinction is made between the two types of passive construction. Other languages, such as Japanese, make this distinction clear.
Solution 2:
It may be simpler than that. I believe "Entered in the race" is an old-fashioned adjectival phrase, with "entered" an ordinary past participle.