"Drag racing or acceleration contests between drivers, whether possessing a valid driver's license or not, conducted on highways, thoroughfares, roads, streets, or lanes, including those located inside private subdivisions, and using trucks, cars, motorcycles or any motorized contrivances, is hereby prohibited. Only racing in duly authorized racetracks, with all the safeguards and measures duly taken to protect the racers and the racing aficionados, shall be allowed."