If you're anything like me, the announcement of Elizabeth Warren's exploratory committee for President intrigued you, but also confused you. It doesn't help that many news outlets are spreading slight misinformation with headlines such as New York Times headline "Elizabeth Warren Announces She is Running For President." Contrast that with the more accurate CBC headline, "Elizabeth Warren takes big step toward 2020 Presidential run."
The District of Columbia legally defines an exploratory committee as the following: "Exploratory, draft or 'testing the waters' committees are formed solely for the purpose of determining the feasibility of an individual's candidacy for office. The activities of exploratory committees may include polling, travel, and telephone calls to determine whether the individual should become a candidate."
In less complicated terms, an exploratory committee is as it says, "testing the waters" or almost doing something akin to a Google survey about whether or not the American public would vote for Warren if she did run.
The CBC headline is correct, this is a big step in launching herself to the presidency, however that being said, Warren has not officially been confirmed as running for President in the 2020 election. There are many more steps she must go through in order to finalize that and confirm herself as a Democratic candidate in the election.
Another caveat: this is still an important step even if it does not confirm Warren as a Presidential candidate. Express your interest. Read about her, her policies, ideals, and what she plans on doing as her grassroots movement grows. If you are interested in participating in her committee, visit her website where you can apply to participate as a volunteer, or apply for an internship, or even a paid job.
While President Trump insulted Warren instead of discussing policy, you can find out about her policy and life from her website, or from other websites, such as on the issues which gives a summary of her political and legal opinons on a variety of topics.