It happened in the critically-acclaimed major motion picture, Akeelah and the Bee. In real life, though, there have been only five instances of co-champions—1950, 1957, 1962, 2014 and 2015.
From Scripps: a $40,000 cash prize and the Scripps National Spelling Bee engraved trophy
From Merriam-Webster: a $2,500 U.S. savings bond and a complete reference library
From Encyclopædia Britannica: $400 of reference works including a 1768 Encyclopædia Britannica Replica Set Deluxe Edition and a three-year membership to Britannica Online Premium
From Scripps: Scripps National Spelling Bee engraved plaques
A medal from the Scripps National Spelling Bee
From Mr. Jay Sugarman: The Samuel Louis Sugarman Award — a 2016 United States Mint Proof Set presented by Mr. Sugarman in honor of his father
*Spellers who are eliminated from the competition in the same round are assigned the same rank (place). If Bee officials declare Co-Champions, each Co-Champion will receive a $40,000 first place cash prize.