Democratic race: Lincoln Chafee drops out, reducing field to three candidates

The former Republican has struggled to make any progress in the polls

Lincoln Chafee has struggled to make headway in the polls (AP)

Former Rhode Island Gov Lincoln Chafee ended his long-shot bid for the 2016 Democratic presidential nomination on Friday, his campaign announced in a statement.

Mr Chafee is set to speak on his decision at the DNC”s annual Women's Leadership Forum in Washington, CNN said.

“As you know I have been campaigning on a platform of Prosperity Through Peace,” Mr Chafee is expected to say according to prepared remarks provided by the campaign.

"But after much thought I have decided to end my campaign for president today. I would like to take this opportunity one last time to advocate for a chance be given to peace."

The Democrat declared his presidential campaign in June, shortly after announcing that he had formed an exploratory committee.

Chafee has spent most of his life as a Republican. He was nominated to his late father's Senate seat in 1999 and then was elected as a Republican in 2000. He served only one term, losing to Democrat Sheldon Whitehouse in 2006, but then successfully ran for governor of Rhode Island as an independent.

He has been one of the most aggressive candidates against frontrunner Hillary Clinton, calling her out at multiple times about her 2002 vote in favor of the Iraq War. But he has repeatedly failed to stir the polls and a lacklustre performance during the first Democratic debate earlier this month, did little to help.

It means the declared Democratic candidates are now down to three - Ms Clinton, Bernie Sanders ad former Maryland governor Martin O’Malley. Earlier this week Jim Webb declared he was dropping out and Vice President Joe Biden ended months of speculation by saying he was not running.