New York City Mayor Eric Adams announced Sunday that he is ending his re-election campaign, confirming weeks of speculation that he might withdraw from the race.

Only in America. Only in New York.
Thank you for making my story a reality. pic.twitter.com/efHuyBnITJ

— Eric Adams (@ericadamsfornyc) September 28, 2025

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Adams’ decision immediately reshapes the Democratic contest, where former Gov. Andrew Cuomo and 33-year-old State Assemblyman Zohran Mamdani are competing for support.

Mamdani, a self-described democratic socialist, has recently gained momentum and emerged as a leading candidate in the race to lead the nation’s largest city.

Fundraising data showed Adams trailing both Mamdani and Cuomo significantly in campaign contributions and expenditures, further fueling speculation that he might not continue his bid.

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The exit of Adams, who has served as mayor since 2022, comes as Mamdani’s rise has drawn national attention.

President Donald Trump commented earlier this month on the state of the race, telling reporters that he would “like to see two people drop out” to improve the chances of defeating Mamdani.

The Trump administration has been critical of Mamdani’s policy proposals, labeling them a threat to New York City’s economic health.

Mamdani has placed affordability at the forefront of his campaign platform, advancing measures such as free public bus service, city-owned grocery stores, and rent freezes for tenants living in rent-stabilized housing.

Supporters argue that these policies would ease cost-of-living burdens on working-class families, while critics warn they could drive businesses out of the city and erode its financial stability.

Wall Street executives have expressed concern about Mamdani’s agenda, saying it could undermine investor confidence and weaken New York City’s tax base.

The concerns have prompted questions about the city’s long-term fiscal outlook should such proposals be enacted.

Treasury Secretary Scott Bessent issued a pointed warning during an appearance Wednesday on FOX Business’ Mornings with Maria.

Bessent said that Mamdani’s proposals risk placing New York City in financial distress and cautioned against expecting federal assistance if the city faces a shortfall.

“You can’t enact policies like this and expect to be bailed out,” Bessent said in the interview with Maria Bartiromo.

Bartiromo asked whether the administration would authorize federal relief in that scenario.

Bessent responded by referencing President Gerald Ford’s response to New York’s 1975 fiscal crisis.

“It will be the same thing that Gerald Ford said. Drop dead,” he said.

The next phase of the campaign is expected to center heavily on the contrast between Mamdani’s progressive agenda and Cuomo’s record as a former governor.

Adams’ withdrawal leaves New York Democrats to choose between a candidate advocating sweeping changes to the city’s economic structure and a veteran political figure with years of statewide executive experience.

With Adams out of the race, the spotlight is now firmly on Mamdani and Cuomo as the primary season continues.

The outcome will determine the Democratic nominee who will face off against Republican challengers in the November election.