The Coliseum's design drew inspiration from ancient Roman amphitheaters, which gave it the name that has stuck since the beginning. The original structure seated approximately 75,000 people, with a horseshoe configuration that opens to the west. The peristyle end — the colonnaded structure that closes the eastern end of the stadium — has become the visual symbol of the building, framing the Olympic cauldron that was lit in 1932 and 1984 and will be lit again in 2028.

The original construction cost of less than a million dollars seems remarkable by any contemporary standard, though it was not inexpensive for 1923. The financing came from a bond measure passed by Los Angeles County voters who understood they were building something ambitious. The stadium sits in Exposition Park, adjacent to the University of Southern California campus, and the relationship between the university and the building has defined much of its non-Olympic history.

The 1932 Summer Olympics were the first to use the Coliseum as its primary venue. Los Angeles had been awarded the Games in 1923, before the stadium was even complete. The 1932 Games drew athletes from thirty-seven nations in a Depression-era event that demonstrated the city's organizational capability and established the Coliseum's international profile.

The 1984 Summer Olympics, held during the Cold War boycott year, were arguably the most commercially successful Games in the modern era up to that point. The Los Angeles organizing committee turned what had been a money-losing enterprise in previous cities into a profitable event, and the Coliseum was again its centerpiece.

In 1960, between the two Olympics, the Coliseum hosted the Democratic National Convention. John F. Kennedy delivered his acceptance speech there, introducing the phrase "New Frontier" to American political vocabulary. More than 80,000 people were present.

The Coliseum's range as a venue is best illustrated by the list of events it has hosted. Super Bowl I was played there in 1967. Super Bowl VII was played there in 1973. The Los Angeles Dodgers used the Coliseum as their home field from 1958 to 1961, while Dodger Stadium was being built — an unusual arrangement that required modifying the football-configured field to accommodate baseball, resulting in a left field fence only 251 feet from home plate.

The Los Angeles Rams, the Raiders (twice), USC Trojans, and the short-lived Los Angeles Chargers have all called it home at various points. The building's capacity to reinvent its tenant relationships while maintaining its physical identity is one of its most remarkable qualities.

When the 2028 Summer Olympics open in Los Angeles, the Coliseum will host the opening ceremony, the closing ceremony, and the track and field events — the same role it played in 1932 and 1984. No other stadium will have hosted the same combination of events across three separate Olympic Games.

The building has undergone extensive renovations in recent years, including a $315 million renovation completed in 2019 that reduced capacity from 93,000 to 77,500 seats while significantly improving the fan experience. The renovated Coliseum sits within the larger Exposition Park complex that now includes the California Science Center, the Natural History Museum, and the BMO Stadium, creating a cultural and sporting campus that has become one of the most visited destinations in Los Angeles.

The peristyle will be illuminated again for a third Olympic cauldron lighting in 2028, connecting a building that remembers the dead of one world war to the largest celebration of international athletic competition the world stages.