In a surprising turn of events, President Joe Biden has withdrawn from the presidential race, leaving the Democratic Party with the challenging task of determining his successor. While President Biden has endorsed Vice President Kamala Harris as his preferred candidate, the possibility of a contested nomination looms on the horizon.

The complicated process of replacing Biden at the top of the ticket could potentially lead to political upheaval in the months leading up to the Democratic nominating convention in August. President Biden holds the power to release all the pledged delegates he has accumulated, thus granting them the freedom to vote for any candidate of their choice. This could result in an open convention, an uncommon occurrence in modern American politics.

There are two possible scenarios that have begun to emerge based on interviews with Democratic Party leaders and strategists. The first option involves rallying around Vice President Kamala Harris, who is considered a unifying force during this time of crisis. Harris has already been vetted and is well-known among Democrats, having previously run a national campaign. Additionally, she would have access to the substantial campaign apparatus and funds amassed by the Biden-Harris campaign.

However, some Democrats argue that anointing a candidate without competition is risky and prefer a more democratic selection process. This would involve the entry of another candidate into the race, prompting party-sanctioned forums and national campaigning to gather support from state delegates and delegations.

Several potential candidates loom large in this increasingly uncertain landscape. Alongside Vice President Harris, Democratic governors such as Gretchen Whitmer of Michigan, Josh Shapiro of Pennsylvania, Gavin Newsom of California, JB Pritzker of Illinois, and Andy Beshear of Kentucky are being closely watched. Additionally, the secretary of transportation, Pete Buttigieg, as well as Senators Amy Klobuchar of Minnesota and Cory Booker of New Jersey, are names that have been mentioned as potential contenders.

While President Biden can recommend his delegates on whom to vote for, he cannot control their decisions. Given his standing in the party, Biden's influence carries weight, but ultimately the delegates are likely to support the candidate they perceive as having the best chance of defeating former President Trump. A premature anointing of a successor could potentially ignite ideological and generational battles within the party, thereby weakening the eventual nominee.

The question of campaign financing also arises in this scenario. President Biden and Vice President Harris have amassed hundreds of millions of dollars in campaign funds, with a combined $240 million cash on hand as of June 30. Most of this money could be utilized on behalf of the next candidate. However, a significant exception exists in the form of $91 million belonging to the Biden-Harris campaign as of May 30. If Harris becomes the consensus candidate, that money would be allocated to her campaign. Otherwise, it could potentially be returned to donors or redirected to a federal super PAC to support the Democratic ticket. One candidate who would not face these financial constraints is billionaire governor JB Pritzker of Illinois, who could independently finance his campaign.

With the clock ticking, the Democratic Party faces a tight timeline to settle this matter. The nominating convention is scheduled to take place in Chicago on August 19, with the candidate expected to deliver their acceptance speech on August 22. While the Democratic National Committee had pushed for an earlier virtual roll-call to dispel any doubts about Biden before the official vote, the party sets the rules and nothing is set in stone regarding the timeline.

The coming weeks promise to be filled with intense deliberations among Democratic Party leaders and potential candidates as they navigate the complex process of selecting a new presidential nominee. As the race unfolds, the nation will be watching closely, eager to see how the Democratic Party will reshape its path to the 2024 presidential election.