Rep. Eric SwalwellEric Michael SwalwellThe Memo: New riot footage stuns Trump trial New security video shows lawmakers fleeing during Capitol riot Newly released footage shows Schumer's 'near miss' with Capitol rioters MORE (D-Calif.) dropped out of the 2020 Democratic presidential primary on Monday, making him the first major candidate in the crowded 2020 primary field to end a presidential bid.
"We have to be honest about our own candidacy's viability," Swalwell told reporters at a press conference at his campaign headquarters in Dublin, Calif.
"Today ends our presidential campaign, but it is the beginning of an opportunity in Congress with a new perspective shaped by the lives that have touched me and my campaign over the past few months," he continued.
The Hill had reported earlier on Monday that Swalwell planned to put an end to his campaign, citing a source close to him.
The lawmaker had canceled Independence Day events in New Hampshire last week, sparking the initial speculation about his plans.

He will face progressive Hayward City Council member Aisha Wahab in the fifteenth district’s Democratic primary.
He won his general election race in 2018 easily, with 73 percent of the vote.
A Washington Post/ABC News poll conducted June 29 to July 1 showed Swalwell polling at zero percent among Democratic primary and caucus voters.
Swalwell has yet to announce his fundraising for the second quarter - a key metric that could force other presidential candidates to drop out as well.
“On the issue of gun violence, I am the champion who is saying enough is enough, and that has to be a top priority. We can't just respond to the last mass shooting. I want to challenge our candidates to make it a priority too,” Swalwell told The Hill last month.
The Democratic congressman has also touted his youth as a plus in the Democratic primary and even told former Vice President Joe BidenJoe BidenKlain on Manchin's objection to Neera Tanden: He 'doesn't answer to us at the White House' Senators given no timeline on removal of National Guard, Capitol fence Overnight Defense: New Senate Armed Services chairman talks Pentagon policy nominee, Afghanistan, more | Biden reads report on Khashoggi killing | Austin stresses vaccine safety in new video MORE to "pass the torch" to younger generations during the first Democratic debates last month.
Swalwell's exit would still leave about two dozen Democrats running for the White House, including former Alaska Sen. Mike Gravel, who has said he's running just to get on the debate stage.
West Virginia state Sen. Richard Ojeda (D) briefly entered the race before bowing out in January.
But the Democratic field could still grow larger, with former Georgia gubernatorial nominee Stacey Abrams yet to declare her intentions after ruling out a Senate run in 2020.
Meanwhile, Tom SteyerTom SteyerGOP targets ballot initiatives after progressive wins On The Trail: The political losers of 2020 Biden Cabinet picks largely unify Democrats — so far MORE, the billionaire activist who has pushed for President Trump
Donald TrumpSenators given no timeline on removal of National Guard, Capitol fence Democratic fury with GOP explodes in House Georgia secretary of state withholds support for 'reactionary' GOP voting bills MORE's impeachment, may still enter the race, according to The Atlantic.
-- Updated at 5:07 p.m.