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After latest patch League of Legends is now partially running as an ARM-native application on macOS: as you can see in the screenshot, according to the activity monitor, the main game application is now ARM while the game client and other support binaries are still Intel. As a result, the game got a massive FPS improvement.
Riot and LoL clients are still messy Intel applications but it's a first step made in just 5 years (which is a very short amount of time for Riot Games), great job!