RFK Jr. Reportedly Dropping Out of Presidential Race, Mulling Trump Endorsement; Bitcoin Jumps Past $61K

Markets

Robert Kennedy Jr. is planning to drop out of the 2024 presidential race by the end of this week, reported ABC News on Wednesday.

The story goes further, saying sources indicate Kennedy is leaning toward endorsing GOP presidential candidate Donald Trump, though those same sources said that decision hasn't yet been made final.

The Kennedy exit and Trump endorsement rumors began in earnest yesterday after his vice presidential pick Nicole Shanahan floated the idea in a podcast appearance. Shortly after, Kennedy tweeted, "I am willing to talk with leaders of any political party to further the goals I have served for 40 years in my career."

Current Polymarket odds show a 99% chance Kennedy drops out of the race and the chance of a Harris victory has dipped to 46% from about 54% one week ago.

The price of bitcoin appears to have reacted to the news, rising to $61,000, 3% higher over the past 24 hours.

Kennedy has scheduled a national address Friday from Phoenix at 2 pm ET.

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