Final answer:
Settlers and homesteaders who received land through the Homestead Act of 1862 benefited greatly despite challenges, gaining the opportunity for landownership and independence.
Step-by-step explanation:
The group that benefited the most from the Homestead Act of 1862 were the settlers who received parcels of land through this legislation. These settlers, including family farmers and individuals willing to move westward and improve the land, faced significant challenges but ultimately had the chance to achieve land ownership and independence. While some large-scale farmers could capitalize on technological advancements and economies of scale, the majority of homesteaders worked hard to transform their claims into productive farms, often in anticipation of rail connectivity that could propel them toward financial success.
Additionally, the federal government and railroad companies benefited from this act as it catalyzed the development and expansion of transportation infrastructures, such as the transcontinental railroad, which facilitated the movement of goods and people across the country, thereby fostering the nation's economic growth.