Topline
The Powerball jackpot rose to $348 million—the third biggest lottery prize of 2026 so far—after no tickets matched all six numbers drawn on Wednesday night, although the eventual winner will take home a much smaller payout after taxes and deductions.
Powerball lottery tickets are displayed for customers to fill out at a convenience store.
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Key Facts
The six numbers drawn on Wednesday night were 3, 14, 16, 21, 38 and Red Powerball 14.
If a winner emerges in the next draw, they can choose between taking the $348 million prize, split over 30 annual installments, or a one-time cash payment of $157.5 million—the preferred choice for most winners.
If the lump-sum option is chosen, the winnings will first drop to around $119.7 million after a mandatory 24% federal withholding is applied.
The winner would likely face a federal marginal rate as high as 37%, depending on their taxable income, further reducing the winnings to around $99 million.
If the installment route is picked, the winner’s annual payments of around $11.6 million would fall to $7.3 million after the 37% federal marginal rate is applied.
The winner may face additional taxes based on where they live, as some states, such as New York, tax lottery winnings at 10.9%, while others, such as Texas, Florida, and California, don’t.
What To Watch For
The next Powerball jackpot draw is set to take place on Saturday night. A day before that, the Mega Millions lottery will hold a draw for a $489 million jackpot.
Surprising Fact
A Powerball ticket buyer will need to overcome abysmal odds of 1 in 292.2 million to win the jackpot prize. This is worse than the Mega Millions jackpot’s already astronomical odds of 1 in 290.4 million.
Key Facts
In March, a Mega Millions ticket sold in Illinois won a $533 million jackpot, which remains the biggest lottery prize of the year so far. The ongoing Mega Millions jackpot is at $489 million, while the biggest Powerball jackpot of the year so far is a $250.8 million prize claimed by a lottery player from Arkansas.
further reading
Mega Millions Jackpot Nears $500 Million—Here’s What The Winner Could Take Home After Taxes (Forbes)