The Ultimate features a condensed three-night schedule, held as three-hour sessions.
It is reserved for reigning Olympic, world and Diamond League champions, plus athletes who have qualified by world ranking.
However, a few star names who did not qualify have been granted exceptional invitations, including Great Britain’s Josh Kerr and Norwegian rival Jakob Ingebrigtsen into the men’s 1500m.
There will be a total of 28 finals, including straight finals in all field events and both the 1500m and the 5,000m. The 800m and shorter distances will have semi-finals.
Not every discipline has been included, however. World Athletics says those decisions were taken based on the popularity of each event and data it gathered on viewer behaviour, including sweat response and pulse rate.
As a result, long distance events such as the 3,000m steeplechase and 10,000m, and field events such as the shot put and discus, have been left out.
World Athletics is providing “the richest prize pot in the history of the sport” with a total of $10m (£7.4m) to be won.
Each individual event winner will pocket $150,000 (£110,000) – more than double the offering at last year’s World Championships – with $75,000 (£55,000) for the runner-up and $40,000 (£29,500) for third.