Hosted by Conan O’Brien and broadcast live on ABC and Hulu, the ceremony’s Best Actress category has emerged as a nail-biter. Demi Moore (The Substance) and Mikey Madison (Anora) lead the pack, but the race remains fluid as voters weigh career-defining narratives against breakout potential.

In the coming-of-age film, "Now and Then," Moore played the older version of a young girl named Samantha, who together with her friends, played by Rosie O'Donnell, Rita Wilson and Melanie Griffith, recall a memorable summer they shared in 1970.

Moore has SAG and Globes, Madison has BAFTA, Indie Spirits, and a likely Best Picture winner on her side — so, who will take the Academy prize?