RESOLVING THE LEDGER
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One lucky winner in Illinois hit Wednesday the $1.040 billion jackpot of the Powerball .
The single winning ticket matched all six numbers: 4, 26, 66, 67, 69, with a red Powerball of 9. The multiplier was 2x.
The Powerball jackpot hit $1 billion ahead of Wednesday’s drawing, becoming the largest lottery prize up for grabs this year and 8th overall in history.
The lucky winner may choose either an annuitized prize of $1.040 billion or a lump-sum payment of $450.5 million. Both prize options are before taxes. If the winner selects the annuity option, they will receive the prize in 30 graduated payments over 29 years.
“Congratulations to our newest Powerball jackpot winner in Illinois,” said Stephen Durrell, Chair of the Powerball Product Group and Executive Director of the Kansas Lottery.
“For more than three decades, Powerball has shown that a winning ticket can be sold anywhere the game is played, giving every $2 ticket the chance to change not only a winner’s life, but generations to come. As participation continues to grow across markets, players are helping fuel larger jackpots and create even greater excitement for the game.”
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The prize is subject to taxes , which includes an automatic federal withholding of 24% and another 13% in federal taxes when you file your 2026 return.
There are also state taxes in most jurisdictions, which range from 2.9% to 10.9% depending on the state you live in. But if you’re lucky enough to live in California, Florida, New Hampshire, South Dakota, Tennessee, Texas, Washington or Wyoming, you won’t pay any state taxes on your winnings.
No one had won Powerball’s jackpot since May 2, a stretch of 44 consecutive drawings without anyone matching the game’s six numbers.
Wednesday’s $1.040 billion jackpot was the eighth biggest in Powerball history. The largest lottery jackpot in U.S. history stands at $2.04 billion and was won by a single Powerball ticket in California on Nov. 7, 2022. The winner, Edwin Castro, came forward in early 2023 after months of speculation.
The reason for the jackpot drought is simple: The odds of winning the top prize are miserable, at 1 in 292.2 million. It’s those odds that create the large jackpots that are designed to attract attention and drive up sales.
Powerball is played in 45 states plus Washington, D.C., Puerto Rico, the U.S. Virgin Islands and the United Kingdom.
For the next drawing on Saturday, the Powerball jackpot resets to $20 million. The Power Play® 10X multiplier will be available for play since the advertised jackpot is below $150 million.
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