BREAKING: Caitlyn Jenner will run for governor of California

"California has been my home for nearly 50 years. I came here because I knew that anyone, regardless of their background or station in life, could turn their dreams into reality. But for the past decade, we have seen the glimmer of the Golden State reduced by one-party rule that places politics over progress and special interests over people. Sacramento needs an honest leader with a clear vision," the statement reads.

"I have been a compassionate disrupter throughout my life, from representing the United States and winning a gold medal at the Olympics to helping advance the movement for equality," she writes.

Jenner goes on to talk about the struggles of small business in the state, adding that taxes are "too high, killing jobs, hurting families, and putting an especially heavy burden on our most vulnerable people."

"This isn't the California we know," she continues. "This is Gavin Newsom's California, where he orders us to stay home but goes out to dinner with his lobbyist friends."

A formal announcement is set to follow in coming weeks.