NEW YORK, Sept. 28 (Xinhua) -- New York City Mayor Eric Adams ended his reelection bid on Sunday, more than a month ahead of the vote.

"Despite all we've achieved, I cannot continue my reelection campaign," Adams said in a video on the social platform X.

"The constant media speculation about my future and the campaign finance board's decision to withhold millions of dollars have undermined my ability to raise the funds needed for a serious campaign," he said.

The Democrat, who became mayor of the largest U.S. city in 2022, said he will finish his term, which ends on Jan. 1, 2026. "I will continue to fight for this city," he said in the statement.

Last spring, the mayor faced corruption and bribery charges after federal prosecutors accused him of soliciting donations from Turkish nationals and trading favors to benefit wealthy donors. The charges were dismissed earlier this year.

Recent polls show that Adams has been trailing far behind Democratic nominee, state Assemblymember Zohran Mamdani and former New York Governor Andrew Cuomo, with single-digit support for his reelection.

Mamdani, a self-declared democratic socialist, notched a stunning victory over Cuomo in June's Democratic primary. The latter is now running his campaign as an independent.

Adams' withdrawal has likely left the mayoral race between Mamdani and Cuomo. A poll conducted by Quinnipiac University suggested the gap between Mamdani and Cuomo could narrow if Adams dropped out.

The New York City mayoral election is set to take place on Nov. 4. ■