Justin Trudeau announced his resignation as prime minister and leader of the Liberal Party, effective after the selection of his successor.
Trudeau stated the need for a "real choice" for voters and acknowledged his internal party struggles as a hindrance to his leadership.
Pierre Poilievre, leader of the Conservative Party, is currently the leading candidate with a 92% likelihood of becoming the next prime minister.
Chrystia Freeland and Jagmeet Singh are also potential successors, with 5% and 2% probabilities respectively, according to Polymarket.
Freeland previously held a significant cabinet role under Trudeau, while Singh is critical of Trudeau's governance, stating the Liberals "don’t deserve another chance."