Officials at the lottery based in Urbandale, Iowa, said for the 15th consecutive draw, no one took home the $325 million top prize in Saturday night's drawing.
The numbers drawn were 22, 32, 37, 44, 50 and Powerball 34.
The next draw is Wednesday night.
Should the winner or winners opt for a lump-sum payment instead of annual payments, the cash value will be $278.3 million, the lottery said.
The previous record for a Powerball jackpot was $365 million in February 2006, claimed by eight employees of a meat processing company in Nebraska, CNN said.
The odds of matching all six numbers are 1 in 175,223,510, the lottery said.