Four Sore

It's an unhappy anny for U.S. canna.

Daily Recap

A federal appeals court panel dismissed a three-year prison sentence against a person convicted for possession of a firearm while being an active cannabis user, ruling that the federal government’s prohibition on gun ownership by drug users is justified in certain circumstances—but not always.

“Nothing in our tradition allows disarmament simply bc the defendant belongs to a category of people, drug users, that Congress has categorically deemed dangerous.”

Common Sense

A Republican lawmaker says he’s hopeful that Congress will be able to get a cannabis banking bill across the finish line this session, arguing the current barriers to financial services for the industry represent a “second tier” of prohibition.

“In nearly every state in the country, some form of marijuana is legal, but you see kind of a second tier of back door making it illegal by saying, ‘Oh, you’re not going to bank those people, are you?'” Rep Warren Davidson (R-OH)

Anatomy of a Loophole

Legislation that will allow low-dose intoxicating hemp drinks to continue to be sold in grocery and liquor stores won the approval of committees in both the Missouri House and Senate this week.

While the bills carve out hemp-THC seltzers to remain on store shelves, the bills ban intoxicating hemp edibles and vapes from being sold outside of dispensaries. Many industry observers expect to see similar hemp language in the next U.S. farm bill.

“This bill will still, even with the hemp beverage carveout, shut down hundreds of Missouri businesses.” Brooklyn Hill, Missouri Hemp

Florida Sunrise

A new Republican-led bill in Florida is looks to expand access to medical marijuana, including adding new qualifying conditions, waiving fees for veterans, letting doctors issue recommendations through telehealth and *allowing out-of-state patients to participate in the program,* among other provisions.

The measure was introduced by Sen. Joe Gruters (R), who has also filed a proposal to allow state residents who qualify as medical marijuana patients to cultivate up to two cannabis plants at their residences for personal consumption.

Stocks & Stuff

Today is the four-year anniversary of the U.S. canna top and it screams 'mirror image' sentiment-wise, which is a different lens than pure price. Still, to understand where we are, we must appreciate how we got here, even (especially) if we’d prefer to forget.

Below, we’ll top-line the landscape, explore what’s changed and what hasn’t over the last four years, preview earnings from top to bottom (line) and look ahead to possible catalysts that have the potential to shake the malaise.

All that and more, just scroll down.

SPY 0.00%↑ QQQ 0.00%↑ IWM 0.00%↑ MSOS 0.00%↑

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