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"I cannot in good conscience ask my staff to continue to work long hours or my donors to continue to give me their dollars if I believe I have no realistic path to the White House," the former Democrat said in a Friday, Aug. 23, press conference.
He said he would remain on the ballot in states already assured to either Trump or Vice President Kamala Harris to prove the nation's need for other political options.
Kennedy, age 70, a member of the country's most famous political family, excoriated President Joe Biden, the mainstream media, and a shadowy cabal of government organizations for "dismantling democracy" and making it nearly impossible for him to mount a campaign.
The most recent national polls show Harris has a slight lead over Trump, but Kennedy's support could help tilt the scales.
Kennedy said he and Trump would form a "unity party" that he likened to President Abraham Lincoln's "team of rivals," to allow them to disagree on some issues but campaign on others.
Pundits have speculated for weeks that Kennedy would end his bid for the White House. That was furthered after a leaked phone call showed Trump considering Kennedy for a potential cabinet position if he wins in November.
Kennedy said Friday he has had several conversations with Trump on several issues and found they are together on many topics including ending the war in Ukraine and fighting chronic childhood diseases. He said Harris declined to take his call or speak with him.
Nicole Shanahan, Kennedy's running mate, told the Impact Theory podcast earlier this week that the campaign was considering "joining forces" with Trump to avoid a Harris presidency.
CNN reported Donald Trump Jr. and former Fox News host Tucker Carlson, who is close to Kennedy, were instrumental in the backchannel talks between the candidates.
Kennedy's campaign was marred with bizarre headlines such as a parasitic worm had eaten a portion of his brain, he left the carcass of a bear cub in Central Park as a joke, and he was pictured eating dog meat. Kennedy told reporters it was a goat.
The campaign was also losing cash. According to Axios, which cited Federal Election Commission (FEC) reports Kennedy ended July with $3.9 million cash on hand, down from $5.5 million in June.
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