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People vote for a presidential candidate during a presidential election, which happens every four years. Registered voters are allowed to vote in elections.
understanding state regulations governing political parties
Republicans have been successful in the past three Presidential elections, however Democrats remain strong at the state level.
Theoretically, yes. But as a practical matter, it wouldn't be advisable. Look at what happens when a U.S. Senator or member of the House changes parties. Typically, most, if not all, of their staff (who are political operatives) resign en masse, donors demand refunds, etc. Now imagine something like that happening at the presidential level, where there are thousands of political appointees, from cabinet secretaries to deputy special assistants. It would be a nightmare.
The Senate must approve high level appointments before they can take effect. They do not always give their approval.