Daily Recap
Despite not grasping even 15 seconds of fame at the first second presidential debate, candidates can no longer afford to sit on the sidelines of federal canna reform as both campaigns have a unique opportunity.
How? By advocating for rescheduling, criminal justice reform, healthcare reform, bank reform, access to capital markets and the normalization of a product that many states already consider legal.
“The party that fails to engage on this issue risks not only losing the election but also alienating the next generation of voters. History will prove this election is the turning point for many issues facing federal cannabis reform.” Jason Vedadi, Story Cannabis
Five Year Plan
As Kamala Harris faces criticism from cannabis reform advocates about her silence on marijuana policy issues since becoming the Democratic nominee, a resurfaced ACLU candidate questionnaire from 2019 shows she previously backed broader reform and specifically, full federal decriminalization of drug possession.
“As president, I would continue to seriously reform this system and change policies that led to mass incarceration. To help end the era of mass incarceration, I will legalize marijuana, further reform federal sentencing laws, make the reforms included in the FIRST Step Act retroactive…” VP Kamala Harris, a while back.
Laboratories of Democracy
Many states have already loosened their policies toward cannabis and other drugs via ballot measures, and this year will see a handful of additional proposals.
Five states — Arkansas, Florida, Nebraska, North Dakota and South Dakota — will vote on whether to legalize marijuana or further loosen restrictions on the drug.
“With regard to cannabis reform, the ballot initiative process was instrumental in turning popular opinion into public policy,” said Schweich, of the Marijuana Policy Project, who thinks that there’s a good chance all five of those measures will pass.
Stocks & Stuff
It was another thin session in Cannaland as the space tries to unburden itself from what has been. U.S. cannabis ETF MSOS finished down a nickel on light volume as we await the change on the horizon.
Below, we’ll top-line the session, share water cooler chatter, channel check state level activity, share a snapshot that contextualizes the fundamental disconnect and mind the gaps as we find our way.
All that and more, just scroll down.
SPY 0.00%↑ QQQ 0.00%↑ IWM 0.00%↑ MSOS 0.00%↑ ETF Notional: $56M
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