Canadian Bake-In

Canna views from the north-by-northwest.

Daily Recap

With Rep. Kevin McCarthy (R-CA) ousted as House speaker in a vote to vacate the position on Tuesday, cannabis policy observers are wondering how the new GOP leadership will approach marijuana banking, legalization and other reform issues.

“We’ve got to get this bill out of the Senate so as far as timing goes, it’s not like we were going to send it over there tomorrow,” Don Murphy, director of gov’t relations for the Marijuana Leadership Campaign told Marijuana Moment on Wednesday.

“This might suggest a House bill or House version is more likely to get amended on to a bigger bill,” said Murphy, “The enemy is time, and that’s the concern.”

[NBC News reported Rep. Kevin Hern, chairman of the House GOP study committee, is gauging support for a potential Speaker bid. Per Don Murphy, that “would be very good news for cannabis policy reform in general and SAFE Banking, in particular.”]

At the state level, the ‘unprecedented growth’ of legal cannabis in Illinois is driving more tax revenue than alcohol, the Ohio ballot initiative is just three weeks away, the Florida Supreme Court oral arguments are less than six weeks away, and we examine Texas’s cannabis appetite through legalization and beyond.

Up north, Canada is quietly taking steps to course correct it’s regulatory regime, Verano and Cresco are expanding their respective footprints in FLA and PA, and Oakland cops bagged $37M of illicit canna in their biggest raid of the year.

Below, we dig into today’s price action for the space + broader tape, explore Rubicon Organics’ almost unhealthy obsession with quality control/ customer satisfaction and take a deep breath bc emotional decisions always have a way of biting us in the ass.

All that, and more, just scroll down…

Note: There will be no Cannabis Confidential tomorrow (travel day)

SPY 0.00%↑ QQQ 0.00%↑ IWM 0.00%↑ MSOS 0.00%↑ PT Notional: $95M

Top Stories