Daily Recap
Former Rep. Ed Perlmutter has landed a second lobbying client since leaving office, working to advance the cannabis banking legislation that he spearheaded while in Congress on behalf of an industry trade group. Bipartisan negotiators in the House and Senate are reportedly nearing a deal on the SAFER Banking Act, per Politico.
Veteran Leadership
Some of the nation’s largest veterans groups are pushing the Biden administration to “expeditiously” ease federal restrictions on marijuana, joining a growing number of calls to reschedule the drug six months after the Department of Health and Human Services recommended doing so.
In a letter first obtained by NBC News, veterans groups urged the Justice Department, which oversees the DEA, to act quickly.
Super Troopers
A group of law enforcement leaders also urged the President to reclassify marijuana to a lesser status in a letter today.
“We are current and former police chiefs, sheriffs, federal and state prosecutors, and correctional officials from across the country dedicated to protecting public safety and reducing unnecessary arrests, prosecutions, and incarceration. We urge the Administration to reclassify marijuana from a schedule I to a schedule III.”
German Shepherd
German Health Minister Karl Lauterbach expressed confidence that parliament would vote to partially legalize cannabis in Germany tomorrow despite some doubts floating around in other parts of the government.
"This is an important improvement in our drug policy. With this law, we will achieve a significant reduction in the black market, better protection for children and young people and a safer product for older consumers."
Stocks & Stuff
After two of the slower sessions of the year, U.S. canna got a boost this morning after veterans groups urged the administration to move their ass and reschedule cannabis. NBC News, which broke the story, quoted two sources who suggested that we might not have to wait much longer.
Below, we’ll review the news, share a truth bomb on the future of U.S. canna, explore the national retail footprint matrix, preview next week’s earnings reports, and otherwise keep it real as we migrate north to finish the week.
All that and more, just scroll down.
SPY 0.00%↑ QQQ 0.00%↑ IWM 0.00%↑ MSOS 0.00%↑ PT Notional: $102M ($61M)
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