Sen. Barack Obama has won the 2008 Presidential Election, making him the first black president in the history of the United States. Although updates continue to flow in, Obama now has 333 electoral votes, according to ABC.com Only 270 were needed to clench the presidency.

Obama is expected to deliver his acceptance speech at around 11:45 p.m. in  Grant Park

As McCain gives his concession speech in Arizona, more state results have come. Obama has also won California, Washington, Oregon, Colorado and Florida.

Stay tuned for more updates as the rally in Grant Park continues.