California Lt. Gov. exits governor's race, leaving frontrunner including Becerra, Villaraigosa

California Democratic Lt. Gov. Eleni Kounalakis said Friday she is exiting the state's 2026 governor's race and will instead run for treasurer. 

“This decision was not made lightly,” Kounalakis said in a statement to Politico. “At this moment, I believe I can make the greatest impact by focusing on California’s financial future.”

She said she had been discussing the possibility of running for state treasurer as early as March. 

Her decision to drop out of the California Democratic gubernatorial primary comes days after former Vice President Kamala Harris announced she wouldn't be running for governor. 

Well-known Democratic candidates who are still in the race are former California Rep. Katie Porter, former Los Angeles Mayor Antonio Villaraigosa and former Health and Human Services Secretary Xavier Becerra.

Current Democratic Gov. Gavin Newsom is term-limited and can't run again in 2026.