Marijuana Mosaic
The fragments paint a healthy picture.
Daily Recap
U.S. Senator Bernie Moreno, the lead Republican sponsor of the SAFER Banking Act, says he hopes to see movement on the bill in Q4 of this year. He also indicated that Trump’s move to reschedule could come via executive order.
“We’re still seeing what we can do to get it done in Q4. As you know, the Democrats give us a lot of stuff to do. We have to fund the government, we have to get NDAA across the finish line, we gotta get nominations done.
“He hasn’t actually issued the executive order yet, right? It’s obviously an important domino, the rescheduling. Certainly, a lot of my colleagues that would have concern if we didn’t do rescheduling.”
Truth Socialized
President Donald Trump shared a video promoting the health benefits of cannabis, suggesting that covering CBD under Medicare would be “the most important senior health initiative of the century.”
As the cannabis industry awaits the president’s decision on a rescheduling proposal, his decision to spotlight a video that was produced by The Commonwealth Project immediately drew the attention of stakeholders. This is MUST SEE 📺!!! 👇
Separately, the DOJ asked a federal court to extend the pause on canna rescheduling until January 27, ‘26 but importantly this procedural move will not prevent the Trump administration from moving forward at any point—if and when it choose to do so.
Euro Stone
With increasing numbers of countries embracing cannabis, the European Union is launching a toolkit to help national policy-makers frame adult-use legislation.
In doing so, it’s aligning with the changing cannabis landscape as Germany, Malta, Czechia, the Netherlands, Luxembourg and non-EU neighbor Switzerland develop their own adult-use cannabis infrastructure.
The world continues to spin toward cannabinoid- and plant-based wellness. Let’s hope that our President and RFK Jr. unleash our beasts to conquer the world stage.
Virginia Ham
With a new General Assembly just a few months away and a new governor assuming office in January, state lawmakers are optimistic 2026 might be the year that Virginia finally gets a fully legalized adult-use cannabis market.
“It’s like doing a paper for school. The longer you have, the better you can make it. We’re taking advantage of this time. I’m optimistic we’re going to get to a good place.”
Stocks & Stuff
Trump said Netanyahu agreed to a 20-point plan to end the war in Gaza. The major indices and select commodities are notching fresh all-time highs. And cannabis did what cannabis does, which was endure an extremely volatile session—this time with the good guys taking the set.
U.S. cannabis ETF MSOS ended the session +28% (+39% YTD) while Canadian-based international plays like Village Farms (+26%, announced buyback) and Tilray (+70%) paced the US-listed vehicles.
Below, we’ll top-line the latest news, update our evolving mosaic, highlight the top-selling brands in New Jersey, chew through the views surrounding the clue heard around the world, and update our multiple matrix as we ready for Q4.
All that and more, just scroll down.
SPY 0.00%↑ QQQ 0.00%↑ IWM 0.00%↑ MSOS 0.00%↑ ETF Notional: $230M 👀
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