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She's not going to endorse until the ballots for the general are printed. She's positioning herself as the only candidate who didn't resign in case Trump is legally barred from running.
That is her entire strategy and even if everything unfolded how she wanted I doubt she'd actually be a front runner.
Showing up is half the job.
I say almost the same thing all the time about local government (especially the unpaid volunteer positions serving on boards and such): "decisions get made by the people who show up."
There is also a >5% chance he will die in any given year, some people take less odds on the roulette wheel.
I'm going to say she's go even further.
She may be further betting that even if Trump runs, he will lose. If the Republicans lose again, that may well mean they decide to finally throw Trump under the bus. Haley would be in a strong position if that came to pass, setting her up for a 2028 run, or at least a whole lot of "told you so" speaking engagements at significant profit.
Trump might die. That's not a terrible bet.
That's really clever, i didn't think of it.
Also Trump won't be on the ballot in some states (Illinois is in the news today for this reason), that could also be an opportunity for her - unless i misunderstand the american electoral system, which honestly i do most of the time