DeSantis expected to launch presidential campaign next week

DeSantis is expected to file paperwork with the Federal Election Commission next week declaring his candidacy ahead of a major fundraising meeting with donors on May 25 in Miami, people familiar with the matter told the Wall Street Journal.

DeSantis must officially enter the presidential race in order to solicit donations for his campaign, according to the New York Times.

The Florida Republican is also likely to release a video on his official entrance into the race, and will take part in a series of events in the early nominating states, a person familiar with the matter told the outlet.

DeSantis is likely to begin the race with more money in an outside group than any other Republican primary candidate in history, with more than $80 million being expected to be transferred from his state account to his super PAC, Never Back Down. The super PAC has also raised more than $30 million, and tens of millions more in donor commitments, people familiar with the fundraising said.

DeSantis is currently polling far behind former President Donald Trump, with a recent Rasmussen poll showing Trump having a commanding 45 percent lead over the Florida leader. Despite the gap between DeSantis and Trump, the Florida leader holds a lead over the other announced and potential candidates in the field by at least 10 percent.