Experts predict a closer contest between Trump and Harris, who is poised to succeed Biden.

• Some experts predict that the race for president will be tighter and more uncertain due to President Joe Biden's endorsement of Kamala Harris as the Democratic nominee.
• According to Ian Bremmer, President and Founder of Eurasia Group, the Democrats, who were previously predicted to suffer a "landslide defeat" in November, now have a chance of success.

Some experts predict that the race for president will be tighter and more uncertain following President Joe Biden's endorsement of Vice President Kamala Harris as the Democratic nominee.

On Sunday, Biden withdrew from the presidential race after facing pressure from top Democrats to exit following a poor debate performance and with Trump leading in polls.

According to Ian Bremmer, President and Founder of Eurasia Group, the Democrats, who were previously predicted to suffer a "landslide defeat" in November, now have a chance of success.

President Biden has given the Democrats a fighting chance, as they've flipped the race, according to what he said on CNBC's "Squawk Box Asia" on Monday.

Despite needing to secure a majority of delegates before the Democratic National Convention in August, Harris is now on a path towards the Democratic nomination.

Kamala Harris is the clear favorite to become the Democratic nominee, according to Bremmer.

If Harris wins the nomination, she would offer the Democrats a "total reset," said Steven Okun, founder and CEO of APAC Advisors, on CNBC's "Squawk Box Asia."

"If the Democrats emerge from the convention as a unified front, speaking with one voice, energized, and excited, they will have a better chance of winning in November," he stated.

Allan Lichtman, a presidential historian who has accurately predicted the election winner since 1984, stated on CNBC's "Capital Connection" that Harris has a strong chance of winning the upcoming election against Trump.

He will wait until the Democratic convention to make his official prediction.

Harris stated on social media platform X that she aimed to "earn and win" the nomination while bringing Democrats together.

How Harris helps Democrats

Experts who spoke to CNBC believe that Harris has several advantages over her previous running mate.

As the first women Vice President, Harris has been vocal about reproductive rights and will have an advantage on this issue, Okun stated.

According to Bremmer, Eurasia's expert, the top vulnerability for Trump is that he and Biden are both too old to run and serve for another four years.

According to a recent poll, 85% of the population believed Biden was unfit to serve another four years, while 60% of Americans felt the same way about Trump.

Bremmer stated that there is a lot of enthusiasm for Harris, a younger, more vibrant, and energetic former prosecutor who could excel on the debate stage.

Harris has some weaknesses as a retail politician, which has been a vulnerability for her, Bremmer pointed out. Additionally, running as a woman, a daughter of an Indian mother and Jamaican father, in today's America carries some risks, he added.

Charles Myers, Signum Global policy Founder and CEO, stated on CNBC's "Squawk Box Asia" that she may be better-positioned than Biden to drive out certain key demographics, including women, young people, and black voters.

A new candidate has emerged with a massive amount of unity and enthusiasm supporting her, according to him.

Greater uncertainty for markets

With the expectation of tax cuts and a stronger tariff policy, markets had been pricing in a Trump victory.

According to Myers, the race has been thrown into "complete disarray" with Harris set to give Trump a "real run for his money."

Myers warned that assuming Trump would easily win and that the associated names and asset classes would have short-term risk could be dangerous.

Trump has said that Harris would be easier to defeat compared to Biden.

Myers stated that by the Democratic Convention, Harris would have likely secured a running mate and wrapped up the nomination, which could result in her gaining momentum and pulling ahead in the polls.

Governor Josh Shapiro of Pennsylvania and Senator Mark Kelly of Arizona are two possible contenders for Harris's running mate, as they hail from crucial swing states and are perceived as more moderate.

If the Democrats cannot unite their moderate and progressive factions, they will lose to a Republican party that is fully united behind Trump.

— CNBC's Sonia Heng contributed to this report.