California Lt. Gov. Eleni Kounalakis drops bid for governor

Lt. Gov. Eleni Kounalakis (D-CA) announced Friday that she is dropping out of the California governor’s race to run for state treasurer next year.

Kounalakis was considered a top contender in the race, with former House Speaker Nancy Pelosi (D-CA) appearing to endorse her. However, polling showed her behind other candidates. In a statement, Kounalakis argued her skills would be better used as treasurer, managing the state’s investments.