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Sen. Amy Klobuchar. Photo: Drew Angerer/Getty Images

Sen. Amy Klobuchar (D-Minn.) will drop out of the 2020 presidential race on Monday and plans to endorse Joe Biden at a rally in Dallas, Texas, tonight, Axios has confirmed via two campaign sources.

Why it matters: The Minnesota senator’s exit follows Pete Buttigieg’s departure on Sunday, kicking off a consolidation of Democrats’ moderate contenders.

The big picture: Klobuchar was known for her "pragmatic" approach to legislating, leaving her to the right of many considerations on liberal-leaning policies like Medicare for All and tuition-free college. But while she over-performed in Iowa and New Hampshire, she failed to gain the greater interest needed to launch her to a front-runner role.

  • Klobuchar's campaign got off to a rocky start when the New York Times published an exposé shortly after her launch, alleging that she had a history of emotionally abusive staff treatment.
  • But the Times later split their Democratic primary endorsement between Klobuchar and Sen. Elizabeth Warren — arguing that Warren was the best option for progressives and Klobuchar the ideal selection for moderates.

Go deeper: 2020 presidential election: Track which candidates are running

Go deeper

Axios Visuals Deep Dive: Pandemic eating

Illustration: Sarah Grillo/Axios

A food revolution began pre-pandemic and COVID has only accelerated that. See how America's food industry is transforming, from farm to your table.

Abrams’ campaign manager rules out 2024 run if she wins governor's race

Photo: Jessica McGowan/Getty Images

In her first major interview since the official announcement, Stacey Abrams' campaign manager Lauren Groh-Wargo quashed speculation that the Georgia Democrat would interrupt a theoretical gubernatorial term to run for president in 2024.

Why it matters: Abrams' name has come up repeatedly as a top 2024 Democratic contender given President Joe Biden's age and Vice President Kamala Harris's low favorability rating.

Dan Primack, author of Pro Rata
Updated 1 hour ago - Politics & Policy

Trump social media group raises $1 billion from undisclosed investors

Illustration: Sarah Grillo/Axios

Donald Trump's social media startup on Saturday announced that it secured $1 billion in new investment as part of its ongoing efforts to become publicly traded via a blank check company.

Between the lines: None of the investors were identified, which is highly unusual for this sort of transaction.