Just do it!

U.S. Senators advocate for change.

Daily Update

Senate Democrats are putting new pressure on the Biden administration to ease the federal restrictions on marijuana in a new letter to the DEA Tuesday as it considers rescheduling cannabis after it was federally classified more than five decades ago.

The letter, from 12 senators led by Elizabeth Warren, D-Mass., and John Fetterman, D-Pa., and signed by Majority Leader Chuck Schumer, D-N.Y., plainly states:

“The case for removing marijuana from Schedule I is overwhelming. The DEA should do so by removing it from the CSA altogether, rather than simply placing it in a lower schedule.”

Buckshot

Ohio regulators have released an initial batch of proposed rules for the state’s adult-use marijuana program, focusing on requirements for applicants seeking to become licensed retailers, as well as certain changes to the medical cannabis system.

The timeline for legal sales will be one of the areas that’ll garner the most attention, as Governor Mike DeWine (R) wants the legislature to speed up that part of the law.

Call of Duty

Six in 10 active duty military service members and veterans—as well as 85% of military family members—support legalizing cannabis, according to a new study that surveyed 1,168 people on their attitudes around recreational drug legalization.

“The results showed that a majority of individuals, regardless of veteran status category, supported the legalization of recreational marijuana.”

Stocks & Stuff

Cannaland continued to hold it’s ground despite short-term overbought conditions + another midday lunch crunch. U.S. cannabis ETF MSOS was +4% in the early going and lost 5% intraday before late-day sponsorship emerged to steady the space.

Below, we’ll dive into the nuts & guts, talk relative beta + safety premiums, sniff at the timing, side-eye Germany and share the type of stuff you’d expect behind a paywall.

All that and more, just scroll down.

SPY 0.00%↑ QQQ 0.00%↑ IWM 0.00%↑ MSOS 0.00%↑ PT Notional: $121M ($59M)

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