Did Pot Just Pivot? Cannabis Preps For Possible Presidential Run
By Todd Harrison via Cannabis Confidential (July 22)
With U.S. President Joe Biden stepping aside for the presidential race and endorsing Vice President Kamala Harris, her potential candidacy for the 2024 election against Donald Trump brings attention to her stance on multiple issues, including cannabis.
Although Harris was once a prosecutor, she publicly shifted her position several years ago and supported legalization, and she has since endeavored to champion cannabis. If she gets the Democratic nod, she’s widely expected to maintain her policy stance.
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PA System
Despite earlier reports that recreational cannabis legalization in Pennsylvania may have to wait until next year after being left out of the state budget, the spokeswoman of a pro-marijuana coalition said there’s still a window this coming fall for a bill to get through to Gov. Josh Shapiro’s desk.
“The pieces are aligned and teed up right now in a way that makes a fall session passage of adult use very likely.” Brit “da cramper” Crampsie of Responsible PA.
Buck-eyed
Ohio’s adult-use cannabis market is officially up and running—well sorta, with four cultivators and six processors now online.
Another 31 cultivators, 36 processors, seven testing laboratories and 133 dispensaries are in the provisional licensing queue for certificates, pending final requirements.
A new poll found that more Americans smoke cannabis on a daily basis than drink alcohol every day—and alcohol drinkers are three times more likely to say they would benefit from limiting use than cannabis consumers are.
Stocks & Stuff
The D.C. drama drew fresh attention to Cannaland as the presidential race just shifted the political calculous around issues that appeal to young and/ or minority voters.
U.S. canna ETF MSOS finished the session +5%, albeit still under technical resistance.
Below, we’ll top-line today’s reaction to yesterday’s news, explore a few analyst takes on the implications, finger the level of lore for holders galore, update the size of the respective Florida war chests, and continue to sniff at potential CPG involvement.
All that and more, just scroll down.
SPY 0.95%↑ QQQ 1.33%↑ IWM 1.56%↑ MSOS 2.09%↑ ETF Notional: $88M
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