"I'm probably going to run," he said. "It's still a matter to be decided. I want to see exactly who are the Republicans who are running."
The seat he would seek is currently held by Marco Rubio, now running for president. Grayson wants to see whether or not there are several candidates on the GOP side and if they will be engaged in what he called a "food fight."
"The top tier Republicans have already said no," he said. "The second tier Republicans have all said no. Now, we are down to the third tier."
He would have competition in his own party from Congressman Patrick Murphy, of the West Palm Beach area. Grayson tells FOX 35 he could win that primary because Murphy is too aligned with Republicans.
"If I run I will have overwhelming advantages in the primary against Patrick or anybody else," Grayson said. "I have the Hispanic vote. I have the black vote. I have the Jewish vote. I have the labor vote. I have the vote of liberals all around the state. These are the pillars of the Democratic Party."
Congressman Grayson is known for throwing punches, but he would have to absorb some of his own after going through a messy split with his wife, Lolita. A judge ended up annulling the marriage.
Grayson says he is ready for that fight, just not yet.
"It's still very early," he said. "You know, bear in mind we are only six months after the last election, and we are still 18 months from the next election. I don't think politics is on a lot of people's minds, but I am looking at the situation, gauging it, measuring my support."
Grayson tells FOX 35 that he plans to enter the race in about six weeks, if he decides to go for it.