Martin O’Malley is suspending his presidential campaign

DES MOINES, Iowa — Former Maryland Gov. Martin O’Malley announced the end of his 2016 Democratic presidential campaign on Monday night during the Iowa caucuses.

He was later joined by former Arkansas Gov. Mike Huckabee, who tweeted the suspension of his campaign for the Republican nomination.

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Multiple sources close to the campaign confirmed O’Malley’s decision to Yahoo News before he announced the decision at his caucus-night party at Wooly’s bar in Des Moines. O’Malley polled a distant third place to Hillary Clinton and Sen. Bernie Sanders throughout the race. Initial results from the caucuses so far show he trailed far behind the other candidates.

“In a tough, unprecedented year, O'Malley spent more time in Iowa than any other candidate and remained the most accessible. He ran an energetic and honorable campaign — leading the field with the most bold, progressive policy proposals, and he successfully pushed the other candidates on gun safety, immigration and climate policy,” an O’Malley source said.

O’Malley made immigration reform, gun control and taking on Wall Street key issues of his campaign. In addition to having low poll numbers, O’Malley had trouble fundraising, and took out a loan in order to keep his campaign afloat heading into the Iowa caucuses Monday night.

Huckabee, who also had difficulty raising funds, pulled less than 2 percent of the votes in Monday’s Republican caucuses, which were won by Sen. Ted Cruz of Texas.

Former Maryland Gov. Martin O'Malley during a town hall at Grinnell College in Grinnell, Iowa. (Photo: Patrick Semansky/AP)