Powerball Jackpot Jumps to $1 Billion for Wednesday’s Drawing

The Powerball jackpot has climbed to an estimated $1 billion for Wednesday, August 12, 2026, marking the first time this year that the prize has reached the billion-dollar threshold.

The jackpot carries an estimated cash option of $433.1 million. If a ticket matches all six numbers Wednesday night, the prize would become the eighth-largest Powerball jackpot ever won and the largest Powerball jackpot awarded in more than seven months.

Wednesday’s drawing will be the 44th drawing since the jackpot was last won on May 2, when winning tickets sold in Florida and Texas split a $20 million jackpot.

The Powerball drawing is scheduled for 10:59 p.m. ET Wednesday. Tickets are sold across participating U.S. jurisdictions, with purchase deadlines varying by location.

The jackpot can continue increasing before the drawing depending on ticket sales, meaning the advertised $1 billion prize could rise further ahead of Wednesday night.