Lt. Gov. Eleni Kounalakis dropping out of CA gubernatorial race, running for treasurer instead

Eleni Kounalakis, California's Lieutenant Governor, announced her exit from the gubernatorial race to run for state treasurer on August 8, 2025. Her campaign website was updated to reflect this strategic shift. Kounalakis stated that her decision was not made lightly, having listened to the concerns of Californians throughout her campaign. Recent polling from Emerson College revealed her support at only 3%, while Katie Porter led with 18%. Political analyst Nolan Higdon remarked that Kounalakis’ low polling numbers suggested a lack of a viable path to victory in the primary.

With seven candidates remaining in the gubernatorial race, the outcome could influence national dynamics amid increasing partisanship. Kounalakis, the first woman to serve as lieutenant governor, faces a pivotal moment as Governor Gavin Newsom prepares to term out next year. The new treasurer will play a crucial role in California's financial landscape, especially as it navigates complex economic challenges.