In a small saucepan over high heat, combine vinegar and pickling spice, and bring to a boil. Remove from heat and let steep for 5 minutes.
Strain vinegar into a small bowl containing sugar and salt. Stir to combine.
In a large bowl, combine the cabbage, carrots, celery seed, and raisins. Drizzle with vinegar sauce and the olive oil. Stir to combine. Cover and refrigerate to let marinade about an hour.