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RFK Jr. surfs toward a full Senate vote.

Daily Recap

Robert F. Kennedy Jr. is one step closer to leading the nation’s health agencies after the Senate Finance Committee voted 14-13 to recommend his confirmation today.

The full Senate will vote next week and Kennedy’s chances look good after Sen. Bill Cassidy (R-La.), who sharply questioned Kennedy at a health committee hearing last week about Kennedy’s assertion that some vaccines are unsafe, backed him.

Kennedy caught flack from some cannabis stakeholders after he recently declined to endorse rescheduling and said that he would defer to the DEA but astute observers weren’t surprised given his audience was a group of conservative lawmakers (and his long held views that cannabis should be decriminalized and left to the states 👇)

Doubling Up

The number of Americans who use cannabis doubled in the past decade, per Gallup. In many parts of the U.S., weed is legal under state law — and many Americans now use it as casually as they might have a beer or glass of wine.

In states and communities where it's available, legal weed is more likely to be free of contaminants like pesticides and mold, because states are testing them. This kind of regulation is building trust with consumers who want healthier, more regulated weed.

"Whether I was getting cannabis or alcohol or my broccoli from an unregulated market, I'd be concerned about any number of issues.” Paul Armentano of NORML

Penn State

The governor of Pennsylvania again included a proposal to legalize marijuana in his budget request, calling on the legislature to enact the “long overdue” reform, even if it seems “complicated.” He is projecting a significant windfall of tax revenue for the Keystone State which he says is currently being lost to surrounding states.

It’s long overdue to regulate and tax adult-use cannabis. 24 states have already legalized it, regulating and taxing it to benefit the residents of their states and that includes five of our neighbors. Letting this business operate in the shadows doesn’t make sense. And by doing nothing, we’re making Pennsylvania less competitive.

All Hat, No Canna

A strong bipartisan majority of Texans support legalizing or decriminalizing cannabis—and most also want to see the state ban unregulated intoxicating hemp products—according to a new poll.

An overwhelming 79% of respondents back legalizing medical canna, which includes 86% of Democrats, 75% of Republicans and 73% of independents.

Stocks & Stuff

It was a green day in Cannaland as U.S. cannabis ETF gained 5.5%, cutting it’s YTD loss in half. Curaleaf and TerrAscend paced the winners, up 16% each, as a whiff of interest waffled through the space and volumes remained thin.

Below, we’ll top-line the space, explore which companies are doing what with hemp, check on Canadian canna, highlight a U.S. leader tryin’ make a turn, and look ahead to tomorrow’s catalysts as the industry attempts to finally find it’s footing.

All that and more, just scroll down.

SPY 0.00%↑ QQQ 0.00%↑ IWM 0.00%↑ MSOS 0.00%↑ ETF Notional: $29M

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