Gillibrand has also scored political points by gaining support from a number of prominent Democrats, including President Barack Obama, various news outlets have reported.
Since Maloney exited the race, many political commentators in New York have stated that Gillibrand can anticipate a clear path to the Democratic nomination in 2010, bringing her re-election prospects from tenuous to close to certain.
Political analysts have speculated that if Gillibrand does end up facing a serious primary challenge, she will emerge financially weakened and vulnerable to attacks from her Republican opponent, who would normally have trouble gaining traction in the heavily Democratic state.
Maloney explained her motives for leaving the race in a statement released on Friday, noting that an extended campaign would infringe on her ability to legislate effectively for her constituency.
"Giving up for a critical period of time the things I do best passing legislation, working on the issues, serving New Yorkers would put politics before policy," she said in the statement. "The right decision for me and the people I represent is to stay in the House of Representatives."
Maloney did not mention her comparatively low fundraising numbers, pressure from prominent Democrats to abandon her candidacy or a number of highly-publicized gaffes one in which she used the N-word while describing a conversation with a constituent to an online political newsletter.
Following the announcement, Gillibrand praised Maloney as "a passionate, effective advocate for the issues she fights for."
Gillibrand's office did not respond to requests for comment by press time.
Gillibrand, who as a congresswoman represented a heavily Republican upstate district, has faced tough criticism from Maloney for moving to the left on political issues like gun control and immigration following her appointment to the Senate. Maloney repeatedly charged that the people of New York had been victimized by an unfair selection process on the part of embattled Gov. David Paterson, D-N.Y., claiming that New Yorkers deserved the opportunity to choose their own Democratic candidate.
The scant polling conducted on the race generally showed Gillibrand and Maloney within a hair's breadth, with either candidate's lead often within the margin of error. Real Clear Politics showed that an average of polls from June and July saw Maloney leading by 0.3 percent.
Gillibrand repeatedly released substantially higher fundraising figures than Maloney, however. In July, the Federal Elections Commission reported that Gillibrand had raised $1.5 million to Maloney's $577,000 in the second fundraising quarter. These totals brought Gillibrand's cash on hand to a total of $3.2 million, while Maloney lagged at only $1.7 million.
High-profile members of the Democratic party, notably Obama and Vice President Joe Biden, frequently pressured Gillibrand's potential challengers to abandon their quests, according to various news reports.
"We've got a fabulous candidate now keeping her House seat and a fabulous candidate we hope keeping her Senate seat," White House spokesman Robert Gibbs said in a press briefing Friday when asked why Obama involved himself in a New York state primary.
A call from Obama to popular Long Island Rep. Steve Israel, D-N.Y., strongly influenced his decision not to run, according to several news outlets. Similarly, Vice President Joe Biden called Maloney in June to discuss the race, strongly encouraging her to stay in the House, several news sources reported.
Gillibrand also received public support from many high-profile members of the Senate.
Democratic majority leader Sen. Harry Reid, D-Nev,, endorsed Gillibrand in July, describing her as a "rising star in our caucus."
"As a working mother with two young children, [Gillibrand] brings unique perspective to the challenging issues we are debating in Congress," Reid said. "In just six months, [Gillibrand] has introduced a number of new and innovative legislative approaches to the problems many families face."
It is unclear who Gillibrand's Republican challengers will be, although Congressman Peter King, R-N.Y., and former Republican governor George Pataki have been commonly floated as potential contenders. Both Republican candidates are reportedly considering runs but have not publicly confirmed or denied their plans.
The most recent polling indicates that Gillibrand's chances in the general election might rely on her opponents. A Siena Research Institute poll showed the senator soundly defeating King by a margin of 24 percent but essentially tying with Pataki at 41 percent.
