Bowl Games!

The NCAA greenlights cannabis.

Daily Recap

The National Collegiate Athletic Association (NCAA) has voted to remove marijuana from its banned substances list for Division I players, effective immediately.

About five months after NCAA’s Division I Council proposed the rule change, the body adopted the policy on Tuesday, emphasizing that cannabis is not a performance enhancing drug and that it should be treated the same way as alcohol.

Wax On

Brazil’s Supreme Court on Tuesday voted to decriminalize possession of marijuana for personal use, making the nation one of Latin America’s last to do so, in a move that could reduce its massive prison population.

All the justices said decriminalization should be restricted to possession of marijuana in amounts suitable for personal use, while selling drugs will remain illegal.

Block Party

A House committee rejected multiple marijuana-related amendments to a series of spending bills, including proposals to ban certain federal agencies from testing job applicants and to prevent border patrol agents from seizing marijuana from state-licensed businesses.

The Rules Committee also rejected an amendment from Rep. Nancy Mace (R-SC) that would have barred military branches from removing a servicemember based solely on a past nonviolent cannabis offense or conviction.

You can’t spell “Wrong” without “ron”

Florida Gov. ron DeSantis (R) continued to dig himself into a hypocritical hole after he again railed against a cannabis ballot initiative, arguing that it would protect the right to use cannabis more strongly than the First Amendment protects free speech or the Second Amendment protects gun rights.

The governor said the proposal would allow people to “do marijuana wherever you want—just smoke it, take it, and it would turn Florida into San Francisco or Chicago or some of these places.” DeSantis, of course, recently vetoed a bill that would stop the sale of untested and unregulated gas station weed across the Sunshine State.

Stocks & Stuff

The broken clock was green today in Cannaland as early weakness was bought, initial support held and the bulls made a run at the double secret resistance in the ETF.

MSOS gained 3% on the session and has quietly added 14% since last Monday. This, of course, followed a six-week 40% anal gland cleansing following the April 30 spike.

Below, we’ll top-line today’s trading, update the bull-bear dynamic, look ahead to the presidential debate, spy a discernable uptick in credit, discuss an alternative path for Cannabis Confidential and explore why the legal canna industry may be flunking flank.

All that and more, just scroll down.

SPY 0.00%↑ QQQ 0.00%↑ IWM 0.00%↑ MSOS 0.00%↑ ETF Notional: $66M

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