USCIS has filled the FY 2025 H-1B cap of 65,000 regular and 20,000 master’s cap visas. With a new lottery system, applications dropped to 470,342 from 758,994 in FY 2024, with 29% selected. No more lotteries will be held, but cap-exempt petitions remain open. Employers should prepare for FY 2026 and check USCIS’s H-1B Cap Season page for updates.