Two Players Win $1.8B Powerball Jackpot in US

The $1.8 billion Powerball jackpot, the second-largest in U.S. history, was won by two players from Texas and Missouri who chose to share the prize, available either as an annuity or lump sum before taxes. Despite the staggering headline amount, winners face significant reductions due to federal and state taxes, with federal income tax alone potentially taking 37 percent, reducing a lump-sum payout to roughly $521 million before state taxes, which vary widely and can further reduce winnings by over $100 million in high-tax states like New York. Other notable lottery participants have won substantial sums for matching most, but not all, winning numbers, such as a Louisiana family that won $150,000 after nearly hitting the jackpot. The substantial tax impact has sparked public outcry on social media, with some criticizing the IRS as the biggest winner of the lottery. Additionally, lottery winners often choose to remain anonymous to avoid unwanted attention and changes to their personal lives. The next Powerball drawing is scheduled for September 6, continuing the excitement around this historic jackpot.