Biden says he'll seek re-election in 2024 — but also leaves himself an out

A betting man would put their money on President Biden — but don't be surprised if they end up cashing out.

In his first press conference since taking office, Biden on Thursday announced his intention to run for re-election in 2024. Biden was asked whether he'd run again by CBS News chief White House correspondent Nancy Cordes, who pointed out that Biden's predecessor, former President Donald Trump, had already set up a re-election campaign by this point in his tenure.

Biden, who said Trump "needed to" set up a campaign, went on to clarify it is his "expectation" that he'll run again in 2024, but acknowledged: "I'm a great respecter of fate. I've never been able to plan three and a half, four years ahead, for certain."

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Biden may have a few reasons for being purposefully vague about a 2024 bid. For one, NBC News' Benjy Sarlin notes that Biden could run afoul of campaign finance laws should he formally launch.

There's also speculation over the political future of Vice President Kamala Harris, who is considered to be a major contender for the 2024 Democratic nomination if Biden forgoes re-election. Biden, who is 78 years old, said Thursday his expectation would be for Harris to remain on the ticket alongside him if he seeks re-election.

It's also possible Biden just wants to further distinguish himself from Trump, who famously filed for re-election just five hours after his own inauguration in 2017. Rest assured, Biden won't come close to breaking that record.