Debate Able

Cannaland will be tuned in.

Daily Recap

Vice President Kamala Harris’s campaign is accusing former President Donald Trump of lying about his support for marijuana reform, arguing that his “blatant pandering” runs counter to his administration’s record on cannabis.

“As president, Trump cracked down on nonviolent marijuana offenses—undermining state legalization laws, opposed safe banking legislation, and he even tried to remove protections for medical marijuana,” a spokesperson told NBC News.

While the Harris campaign seems willing to call out Trump on his marijuana platform, it’s been notably silent on the 2024 Democratic nominee’s own position, even though she has privately reaffirmed her support for legalization.

Big Earl

Congressman Earl Blumenauer (D-OR) responded to Donald Trump's endorsement of cannabis rescheduling and Florida’s Amendment 3, which aims to legalize adult-use cannabis in the state. He noted that Trump's support for cannabis reform "should be a powerful signal to the rest of the GOP when even Donald Trump can get on board."

Beer Goggles

A major alcohol trade association is applauding California Gov. Gavin Newsom’s newly proposed emergency regulations to outlaw intoxicating hemp-derived cannabinoids and require all CBD products be completely free of THC.

“The Beer Institute thanks Gov. Newsom for his leadership in closing an unintended loophole that’s enabled the proliferation of unregulated intoxicating hemp products. These products are being sold as food and beverages despite not being deemed safe by federal regulators, and in some cases without age restrictions.” Brian Crawford

Florida Support Surging

A new poll reflects that the Florida marijuana legalization initiative on the November ballot has enough support to pass, exceeding 60% threshold to enact a constitutional amendment under state law.

The Emerson College survey found that 64% of likely voters back the measure, while 27% are opposed and the rest undecided. Notably, the support is from both sides of the aisle—in addition to Donald Trump, the Florida Senate Democratic Caucus and the Florida Young Republicans have both announced their support for the measure.

Stocks & Stuff

Cannaland paused to reflect upon this week’s pivot by the GOP Presidential candidate and ahead of tonight’s debate. U.S. cannabis ETF MSOS lost 3% on the session and is now down 1% YTD with 55 days until the election.

Below, we’ll top-line the price action, check the charts, dig deeper on Florida and spy a laggard, update our four primary metrics, and offer a few random thoughts.

All that and more, just scroll down.

SPY 0.00%↑ QQQ 0.00%↑ IWM 0.00%↑ MSOS 0.00%↑ ETF Notional: $71M

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