Count De Money

Congress to illuminate debanking.

Daily Recap

Robert F. Kennedy Jr. unveiled a bold proposal to address the nation's ongoing opioid crisis through a new model of drug rehabilitation: "wellness farms." He plans to fund the farms through a sales tax on cannabis, contingent on its removal from Schedule One of the Controlled Substances Act.

Kennedy Jr., Trump’s nominee for secretary of health and human services, will testify before the Senate Finance Committee Wednesday and the HELP Committee Thursday.

“I’m going to move it off Schedule One and I’m going to start collecting taxes on it. That’s going to bring in $8.5B in revenue. I’m going to dedicate that revenue to creating wellness farms, drug rehabilitation farms, in rural areas all over this country.”

Great Scott

Senator Tim Scott is encouraging businesses and individuals who’ve been debanked to report allegations to his committee staff ahead of hearings scheduled for Feb 5th.

The hearings, requested by President Trump, are to illuminate the weaponization of banking by career bureaucrats and regulators. Choke Point 1.0 crippled state-legal canna companies and 2.0 expanded those activities to crypto and the First Lady.

The hearings aren’t about cannabis but either way, Sen. Scott has asked those who’ve been impacted to share their stories. We agree legal businesses should have access to banking—our ask is for that to include regulated state-legal industries, as well.

Righting Wrongs

Former Rep. Matt Gaetz (R-FL), President Donald Trump’s initial pick for U.S. attorney general, wouldn’t smoke a joint during an interview with Bill Maher but he did call out his party for being on the wrong side of the marijuana legalization debate.

Gaetz was asked about what issues he felt Republicans are “most wrong” about, and he quickly replied that “my side is wrong on marijuana reform,” as well as certain climate and surveillance policies.

Separately, Florida State Sen. Joe Gruters (R), an ally of President Trump, introduced legislation that would allow medical marijuana patients in the state to grow up to two cannabis plants at home while also outlawing certain hemp-derived cannabinoids.

Bank Shot

A bipartisan cannabis banking bill is expected to be filed this session. A staffer for Rep. Dave Joyce (R-OH) reached out to Marijuana Moment on Friday to share, “While introduction isn’t imminent, we hope to have a firmer update in coming weeks.”

Rep. Dave Joyce (R-OH) is the SAFER banking champion in the House, while Sen. Steve Daines (R-MT) is the champion in the Senate. Importantly, President Donald Trump has already stated his support for this commonsense legislation.

Stocks & Stuff

It was another soft session in Cannaland although the much-beleaguered ETF avoided a new all-time low. MSOS finished off 3% in the deafening silence of the status quo.

Below, we’ll top-line the space, qualify the upcoming Senate hearings, expose the true villains, offer more on Maltz, and compare growth and valuations to other categories.

All that and more, just scroll down.

SPY 0.00%↑ QQQ 0.00%↑ IWM 0.00%↑ MSOS 0.00%↑ ETF notional: $20M

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