The Powerball jackpot has officially reached the billion-dollar mark.
Powerball officials announced that the estimated jackpot for Wednesday night's drawing has increased from $975 million to $1 billion following stronger-than-expected ticket sales for Monday's drawing. The winner would also have the option of taking an estimated $433.1 million cash payout before taxes.
The massive prize is now the eighth-largest jackpot in Powerball history and the biggest U.S. lottery jackpot offered so far in 2026.
According to Powerball, ticket sales have surged as the prize has grown, with Monday's sales jumping more than 86 percent compared to the previous Monday drawing.
"The growth of this jackpot reflects an extraordinary level of player interest," Stephen Durrell, Powerball Product Group Chair and Kansas Lottery Executive Director, said in a statement.
Durrell also pointed to growing participation outside the United States following Powerball's expansion into the United Kingdom.
"We're also continuing to see strong participation from both new players in the United Kingdom and millions of Americans who join in as the jackpot reaches the $1 billion mark," he said.
Wednesday's drawing is scheduled for 10:59 p.m. ET from Powerball's drawing studio in Florida. The drawing will air through participating television stations and stream online through Powerball.
Players face extraordinarily long odds if they're hoping to become the game's next billionaire. The chances of hitting the Powerball jackpot are 1 in 292.2 million, while the overall odds of winning any prize are significantly better at 1 in 24.9.
Powerball tickets cost $2 and are available across 45 states, Washington, D.C., Puerto Rico, the U.S. Virgin Islands and the United Kingdom.
The game says more than half of the money generated from each $2 ticket remains in the jurisdiction where it was purchased, with proceeds supporting programs ranging from education and scholarships to veterans services and parks.
Since Powerball began in 1992, the lottery says it has generated an estimated $38 billion for public programs and other causes.
