I’m skeptical about these reports, but allegedly Michael Bloomberg is talking to friends and advisors about throwing his hat into the ring and running for president if Joe Biden continues to struggle against Elizabeth Warren (a new poll out today has Biden down double digits to Warren, coincidentally). Would it just take a Biden freefall or would the former vice president need to formally drop out of the race?

Bloomberg has signaled he’s “still looking at” running for president, but people close him say that the only way he could even go down that path is if Biden’s fortunes suffer so much that he drops out before or during the early stages of the primary. Bloomberg could then enter the race as one of the rare moderates with enough name recognition and campaign funding to make a run. Forbes estimates his net worth at $51 billion, and he was planning to spend over $100 million on a campaign for president if he ran.

“I think it’s something he wants. He has not been shy about that,” one of Bloomberg’s allies familiar with the talks told CNBC. “Nothing can happen unless Biden drops out, and that’s not happening anytime soon,” this person added.

On today’s Bearing Arms’ Cam & Co. we explore the possibilities of a Bloomberg campaign, and what the anti-gun billionaire is likely to do in 2020 if he decides against a presidential run. Frankly, if it’s going to take Biden dropping out, then Bloomberg isn’t getting in. I don’t forsee Biden scuttling his presidential campaign until the first few primaries are over, and at that point it would be too late in the game for Bloomberg to declare himself a candidate, even with the network of volunteers and activists that he’s built up with Moms Demand Action, along with Everytown For Gun Safety and all of its various offshoots.

Even if he were to formally launch a presidential bid, Bloomberg wouldn’t exactly light up the Democratic base. The big reason Bloomberg seems to be thinking about a presidential run is his dislike for the anti-Wall Street campaigning of Elizabeth Warren. He might envision himself going toe-to-toe on the debate stage with Warren about the benefits of big business, but that’s not exactly a winning message among rank-and-file Democrats these days. Bloomberg could try and run as the gun control candidate, but virtually every other Democrat has already adopted and expanded on his gun control plans. There’s really no path to victory for Bloomberg, and I don’t see him becoming a formal candidate.

If Elizabeth Warren becomes the Democrats’ chosen candidate in 2020, don’t be surprised if Bloomberg and his gun control groups don’t spend a lot of money supporting her. Instead, I would expect tens of millions of dollars to flood into states around the country in a bid to reshape state legislatures along with the U.S. Senate and Congress. There will be plenty of money thrown Warren’s way if she’s the candidate, and Bloomberg’s spending can have a huge impact on dozens of close state legislative races that could decide who’s in the majority in several state capitols. He’s already spending heavily in next month’s Virginia elections, but his millions in the state could be a drop in the bucket compared to the flood of anti-gun cash he’ll likely be pouring into races next year.

Also on today’s show we cover the lengthy criminal history of a Massachusetts man who opened fire in a New Hampshire church over the weekend, an armed Texan who gave three suspected thieves a “good East Texas welcome“, and a North Carolina officer who showed a 6-year old boy that not all heroes wear capes. As always, you can subscribe to the show on Apple Podcasts, Spotify, Stitcher, and Townhall.com Podcasts, as well as subscribing to Townhall Media on YouTube. Thanks as always for watching, listening, and spreading the word!