The new jackpot for Wednesday's drawing would be the seventh highest in U.S. history and the third largest for Powerball.
Here's a look at the 10 largest U.S. jackpots that have been won and the states where the winning tickets were sold:
1. $2.04 billion, Powerball, Nov. 8, 2022 (one ticket, from California)
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2. $1.586 billion, Powerball, Jan. 13, 2016 (three tickets, from California, Florida, Tennessee)
3. $1.537 billion, Mega Millions, Oct. 23, 2018 (one ticket, from South Carolina)
4. $1.35 billion, Mega Millions, Jan. 13, 2023 (one ticket, from Maine)
5. $1.337 billion, Mega Millions, July 29, 2022 (one ticket, from Illinois)
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6. $1.05 billion, Mega Millions, Jan. 22, 2021 (one ticket, from Michigan)
7. $768.4 million, Powerball, March 27, 2019 (one ticket, from Wisconsin)
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8. $758.7 million, Powerball, Aug. 23, 2017 (one ticket, from Massachusetts)
9. $754.6 million, Powerball, Feb. 6, 2023 (one ticket, from Washington state)
10. $731.1 million, Powerball, Jan. 20, 2021 (one ticket, from Maryland)
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Sources: AP archives, www.megamillions.com and www.powerball.com
ABC Owned TV Stations contributed to this report.