US President Joe Biden is expected to withdraw from the 2024 presidential race in the near future, according to a Friday report by Newsmax.

Citing multiple sources, Newsmax commentator Mark Halperin said that Biden, 81, had agreed to step down as a candidate, with the announcement likely to occur as early as this weekend, most probably on Sunday.

Despite his prospected decision to withdraw, Biden will continue his duties as the sitting president.

Most notably, however, Biden will not be endorsing Vice President Kamala Harris as his successor. Instead, he is expected to support an open selection process, allowing the Democratic presidential candidate to be chosen at the Democratic National Convention in Chicago.

Biden received multiple requests to step down

The speculation around Biden's withdrawal intensified after his recent performance during the first debate with Republican candidate Donald Trump.

During the debate, Biden appeared confused and incoherent, heightening concerns about his cognitive abilities that had already been put into question. His lackluster performance caused many Democratic politicians and donors to advocate for his removal as a candidate.

The Democratic National Convention, where the party’s nominee will be officially selected, is scheduled to take place in Chicago from August 19-22. With Biden’s expected withdrawal, the event gains utmost significance for the Democratic Party as it seeks to determine its candidate for the 2024 election.

Moreover, ABC News revealed Wednesday that Biden had received requests from House Democratic Leader Hakeem Jeffries and Senate Democratic Leader Chuck Schumer to withdraw from the presidential race.

Even the man under whom Biden served as Vice President for nearly a decade, former US President Barack Obama, advised allies that Joe Biden should reconsider his decision to seek re-election. Obama believes Biden's chances of winning have diminished and that the 81-year-old should seriously evaluate whether he should continue his candidacy.

This comes after Biden, in a message to Democrats last week, stated it was time to "end the talk" about withdrawing from the presidential race. According to Axios, Biden said he had "intense discussions with party leadership, elected officials, and grassroots members, and most importantly, with Democratic voters, over the past 10 days," acknowledging the concerns people have raised.

Biden confirmed his candidacy, expressing his conviction that he is the best person to defeat Donald Trump. He stated his strong commitment to staying in the race, noting that "the question of how to move forward has been well posed for over a week now. It's time to end it."

Lawmakers told Axios they expect calls for Biden to withdraw to increase once Congress returns to session, viewing Biden's message as a clear attempt to suppress these calls before they gain momentum.