The Latest Breaking News from Powerball

The cash payout is big enough to buy your own private island—or two.

I’m lucky I haven’t won Mega Millions, Powerball or even Lucky 7s. If I did, I’d keel over from shock and never cash in.

Lerynne West of Dexter, Iowa is one of the two winners of the nearly $700million (£563.2million) Powerball prize, but will only get $140.6million (£113.1million)

Winning the lottery is often seen as a dream come true but life can take unexpected turns after hitting the jackpot. Many winners have ended up living in more of a nightmare than a fantasy.

Timothy Schultz was working as a petrol station worker in the Midwest when he decided to purchase a lucky dip Powerball lottery ticket in 1999 - but his claim was soon disputed by an underage colleague

Edwin Castro won a record-breaking $2 billion on the Powerball which saw him purchase a luxury $25million home in the Hollywood Hills. Now he looks to spend his winnings on a fancy table

Edwin Castro won a huge record-breaking $2 billion on the Powerball - using his money to buy a vintage $250,000 Porsche as well as two multimillion dollar properties in California

Someone in Ohio went to bed $252.6 million richer, before taxes, after hitting the Powerball jackpot Wednesday night

As states look to generate more revenue in an inflationary economy, along with the risk of a recession, progressive governors like J.B. Pritzker of Illinois who advocate for progressive income taxes also support one of the most regressive taxes: lotteries. This sort of “taxation” increases revenue without the stigma associated…