Single ticket wins $209m Powerball jackpot: These are the largest ever U.S. lottery prizes
In Wednesday’s Powerball drawing, a single ticket scooped a nine-figure jackpot - but it wasn’t close to being the U.S.’s largest lottery win ever.
A single ticket has won the first Powerball jackpot of 2026, claiming an estimated $209 million prize in the U.S. lottery’s latest drawing on Wednesday, Jan 21.
Who won the $209m Powerball jackpot?
Organizers say a ticket bought in North Carolina matched all six numbers, marking the first Powerball jackpot win since Christmas Eve.
The ticket holder(s) will have the choice between receiving their winnings in 30 annual instalments, or as a smaller, lump-sum payment. Known as the “cash option”, the up-front prize is worth $95.3 million.
Tonight’s Powerball jackpot has been hit!
— Lottify (@LottifyApp) January 22, 2026
A lucky ticket sold in North Carolina has won tonight’s $209M jackpot.
Congrats to the winner! 🎉 pic.twitter.com/WASmHYvkqg
What’s the largest ever U.S. lottery jackpot win?
While Wednesday’s jackpot constitutes life-changing wealth, it does not come close to the most sizeable lottery wins in U.S. history. Indeed, it represents only about one-sixth of the amount that rounds out the ranking’s top 10: a $1.33bn Powerball win in April 2024.
And $209m only just exceeds 10% of America’s biggest ever lottery-jackpot amount: the $2.04 billion Powerball prize scooped by California man Edwin Castro in Nov. 2022. Castro opted for the lump-sum payment, which amounted to $997.6m.
These are the largest ever lottery jackpots in the U.S.:
- 1: Powerball, Nov. 7, 2022: $2.04bn
- 2: Powerball, Dec. 24, 2025: $1.82bn
- 3. Powerball, Sep. 6, 2025: $1.79bn
- 4. Powerball, Oct. 11, 2023: $1.77bn
- 5. Mega Millions, Aug. 8, 2023: $1.6bn
- 6. Powerball, Jan. 13, 2016: $1.59bn
- 7. Mega Millions, Oct. 23, 2018: $1.54bn
- 8. Mega Millions, Jan. 13, 2023: $1.35bn
- 9. Mega Millions, Jul. 29, 2022: $1.34bn
- 10. Powerball, Apr. 7, 2024: $1.33bn
How much tax will Jan. 21’s $209m jackpot winner pay?
Wednesday’s jackpot amount will be subject to both state and federal taxes. At the federal level, the U.S.’s Internal Revenue Service (IRS) applies a 24% levy on lottery winnings above $5,000. At state level, meanwhile, a 5.25% tax rate is applied in North Carolina.
What’s more, the IRS can be expected to take a further bite out of the prize come federal tax season.
Regardless of whether the ticket holder chooses to pick up their money as a lump sum or in instalments, the jackpot win appears certain to leave the recipient in the agency’s top income-tax bracket. In 2026, single filers must pay 37% on taxable income over $640,600.
When they file this year’s federal tax return in early 2027, Wednesday’s winner can therefore expect to owe the difference between the 24% lottery tax and the higher income-tax rate applied by the IRS.
Watch Wednesday’s Powerball drawing:
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What are the largest lottery jackpots in U.S. history? How much tax will the Powerball’s $1.82bn winner pay?
In Wednesday’s Christmas Eve Powerball drawing, there was a historic jackpot win - albeit it was not the largest ever.
A single ticket has won the second-largest lottery jackpot in U.S. history, claiming an estimated $1.82 billion prize in Wednesday’s Powerball drawing.
Organizers said a ticket bought in Arkansas matched all six numbers, ending a run of 46 Powerball drawings without a grand-prize recipient.
The ticket holder will have the choice between receiving their winnings in 30 annual instalments, or as a smaller, lump-sum payment. Known as the “cash option”, the up-front prize is worth $834.9 million.
Tonight's #Powerball numbers are in! Check if you've won a prize ➡️ https://t.co/lsT8gz8Olz pic.twitter.com/JSVYYnEq1Q
— Powerball USA (@PowerballUSA) December 25, 2025
What’s the largest ever U.S. lottery jackpot win?
In U.S. lottery history, Wednesday’s jackpot is surpassed only by the $2.04bn Powerball top prize won by California man Edwin Castro in Nov. 2022. Castro opted for the lump-sum payment, which amounted to $997.6m.
These are the largest ever lottery jackpots in the U.S.:
- 1: Powerball, Nov. 7, 2022: $2.04bn
- 2: Powerball, Dec. 24, 2025: $1.82bn
- 3. Powerball, Sep. 6, 2025: $1.79bn
- 4. Powerball, Oct. 11, 2023: $1.77bn
- 5. Mega Millions, Aug. 8, 2023: $1.6bn
- 6. Powerball, Jan. 13, 2016: $1.59bn
- 7. Mega Millions, Oct. 23, 2018: $1.54bn
- 8. Mega Millions, Jan. 13, 2023: $1.35bn
- 9. Mega Millions, Jul. 29, 2022: $1.34bn
- 10. Powerball, Apr. 7, 2024: $1.33bn
How much tax will the $1.82bn jackpot winner pay?
Wednesday’s jackpot amount will be subject to both state and federal taxes. At the federal level, the U.S.’s Internal Revenue Service (IRS) applies a 24% levy on lottery winnings above $5,000. At state level, meanwhile, a 3.9% tax rate is applied, according to Arkansas’ lottery commission.
What’s more, the IRS can be expected to take a further bite out of the prize come federal tax season.
Regardless of whether the ticket holder chooses to pick up their money as a lump sum or in instalments, the jackpot win appears certain to leave the recipient in the agency’s top income-tax bracket. In 2025, single filers must pay 37% on taxable income over $640,600.
When they file their federal taxes in early 2026, Wednesday’s winner can therefore expect to owe the difference between the 24% lottery tax and the higher income-tax rate applied by the IRS.
Related stories
Get your game on! Whether you’re into NFL touchdowns, NBA buzzer-beaters, world-class soccer goals, or MLB home runs, our app has it all.
Dive into live coverage, expert insights, breaking news, exclusive videos, and more – plus, stay updated on the latest in current affairs and entertainment. Download now for all-access coverage, right at your fingertips – anytime, anywhere.
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