Powerball Jackpot Reaches $700 Million Ahead Saturday Drawing

The Powerball jackpot has climbed to $700 million for the Saturday, August 23, 2025 drawing, marking the largest grand prize in over a year and one of the biggest prizes in the game's history. No jackpot winner has emerged since May 31, 2025, when a California ticket won an estimated $207 million. Players can opt for the annuity payout over 30 years or a cash option of about $316 million before taxes. The recent drawings have produced several large prize winners, including a $2 million winner in Tennessee and $1 million winners in Michigan and Oklahoma, though the jackpot has continued to roll over. Powerball tickets remain $2, and the lottery has generated over $36 billion for good causes over more than three decades. Despite the massive jackpot, the odds of winning the grand prize remain about 1 in 292 million.