Both Democratic candidates Bernie Sanders and Hillary Clinton seemed happy with the thus-far results of the Iowa caucuses on Monday, putting Sanders and Clinton both at roughly 49%.
Sanders, 74, said he and Clinton were in a "virtual tie" and said he was overwhelmed.
"Nine months ago, we came to this beautiful state, we had no political organization, we had no money, we had no name recognition, and we were taking on the most powerful political organization in the United States of America," he said.
Sanders congratulated Clinton for a hard fought contest, after Clinton said earlier that she was breathing a "big sigh of relief" after the results.
"It is rare that we have the opportunity we do now to have a real contest of ideas," she said.
After winning just 0.6 percent of the vote, Maryland Mayor Martin O'Malley announced that he was suspending his campaign, whittling the democratic contest down to just two candidates.
Sanders' upstart campaign has relied on a grassroots fundraising campaign and has his populist economic message has drawn strong support from young people.
Monday's results were a message to the establishment, said Sanders.
"I think the people of Iowa have sent a very profound message to the political establishment, to the economic establishment, and by the way to the media establishment. And that is, given the enormous crises facing our country, it is just too late for establishment politics and establishment economics," he said.
Sanders has called for a political revolution to force fundamental political and economic change, and today he told Iowans who voted for him their revolution had begun.
"The powers that be - wall street with their endless supply of money, corporate America, the large campaign donors, are so powerful that no president can do what has to be done alone. And that is why, and that is why, what Iowa has begun tonight is a political revolution," he said.
Sanders finished his speech as he walked offstage to David Bowie's "Starman" playing on the speakers.
On the Republican side, US Senator Ted Cruz beat billionaire Donald Trump in Iowa's presidential nominating contest, upsetting the national front-runner in the race to be their party's White House nominee.
Iowa was the first nominating contest of the race for the White House-- the next stop is New Hampshire for the first primary on February 9th.