South Dakota Gov. Kristi Noem formed a new political action committee, fueling speculation the Republican is eyeing a 2024 presidential bid.

Noem Victory Fund is a federal fundraising committee enabling the governor to raise money she could then donate to candidates running for Congress and other down-ballot contests in 2022. Noem would not be the first Republican governor to use this strategy to accumulate allies inside the party in advance of a presidential bid. Noem is considered a 2024 contender, and her desire to pursue a run for higher office could explain the new PAC.