President Biden has narrowed the gap with Donald Trump in the past few months, but Trump still holds a small lead in the race for the presidency.

That’s perhaps the most succinct way to summarize the race two days before the candidates’ first debate — a debate unlike any other in U.S. history. It will occur more than four months before Election Day and before either candidate has received his party’s formal nomination. All previous general-election presidential debates, dating to the first, in 1960, took place in October or late September.

We’re devoting today’s newsletter to the campaign both because of the debate and because of the release this morning of The Times’s 2024 polling averages. Those averages combine survey results from many pollsters, both for the U.S. as a whole and for seven battleground states. I recommend reading my colleague Nate Cohn’s description of the averages in this article.

As Nate explains, Biden began to rise in the polls around the time of his State of the Union address in March. He then rose further after Trump’s felony conviction last month. The two are now essentially tied in the national polls, around 46 percent, when Robert F. Kennedy is excluded from the question. With Kennedy included, Trump leads Biden, 41 percent to 40 percent, with Kennedy at 8 percent and the remaining electorate undecided.

In both the two-way and three-way race, Trump leads in the states likely to decide the outcome. “While he often leads by only a point or two, he does nonetheless hold the edge in Pennsylvania, Wisconsin, Michigan, Nevada, Arizona and Georgia — states that would be enough for Mr. Trump to win the Electoral College and therefore the presidency,” Nate writes. “Of course, the election will not be held today and the polls will not be exactly right.”