Maryland Gov. Martin O'Malley on Thursday said he will decide in the spring whether to run for president in 2016, possibly becoming a rival to likely Democratic front-runner Hillary Clinton.

Speaking at the University of Chicago's Institute of Politics, the outgoing governor told the crowd he's "very seriously considering running in 2016," but first he needs to get his family settled in their hometown of Baltimore.

ADVERTISEMENT
He went on to say he's not waiting for Clinton to announce whether she'll run; the former secretary of State is expected to make a formal announcement in the first few months of 2015. Clinton is considered the leading contender for the Democratic nomination.

Stoking presidential speculation, O'Malley has traveled to the key states of Iowa and New Hampshire, but remains far behind in polls of Democratic voters.