After 40 drawings without any winners, the single ticket was drawn on Monday, October 4.
The winning ticket was sold at a grocery store in Morro Bay, according to the California Lottery. Officials won't know the identity of the buyer until a claim form is filed.
The Powerball jackpot reached $699.8 million thanks to nearly four months of no winners and final ticket sales. According to the Los Angeles Times, the jackpot is the seventh-largest in U.S. lottery history.
No one has bought a winning ticket for the game's grand prize since June 5. It was also the first jackpot won on a Monday night since August 23. The game recently launched a third weekly drawing.
According to the LA Times, the winner will be able to choose between an annuity option paid over 29 years or the cash option of $496 million. Either way, prizes are subject to taxes.
In addition to this win, give $1 million winning tickets sold in Massachusetts, Virginia, Florida, and Arizona.
The odds of winning the Powerball jackpot is 292.2 million-to-1, designed to generate huge prizes and draw more players.