Mary Jane’s Last Dance

The midwest mulls canna policy.

Daily Recap

Kansas Gov. Laura Kelly (D) says it’s time for lawmakers in the state to finally legalize medical marijuana. The governor called for the reform as she allowed a separate right-to-try bill to become law without her signature.

“Now I think it’s time for the Legislature to finally legalize medical Marijuana, giving Kansans suffering from chronic pain or Post Traumatic Stress Disorder, and children suffering with Dravet’s Syndrome (epilepsy) the choice of the treatment they and their doctors determine best suits their needs.”

Keith SMART

Indiana’s top Senate leader says decriminalizing small amounts of cannabis would be a “smart move,” though he remains “unconvinced” that broader legalization is in the state’s best interest.

Rodric Bray (R), who has historically opposed both medical and adult-use legalization, said canna reform is “becoming more and more popular across the state of Indiana, and also in this building.”

“We can’t exist in a vacuum. More than 30 states have legalized cannabis in some capacity, including the states around us.”

Slurred Strategy

A new policy memo from a U.S. alcohol retail industry group argues that cannabis should be regulated more like booze by requiring that intoxicating cannabis products be sold only by businesses licensed to sell alcohol.

“States should restrict the sale of intoxicating THC products to businesses licensed to sell beverage alcohol and that are regularly inspected for compliance with laws aimed at preventing sales to individuals under 21,” ABL trade association.

Stocks & Stuff

The volatility continued on Wall Street as risk-taking returned and the S&P notched its best week since November of 2023. U.S. cannabis continues to be an afterthought, but MSOS managed to end the day (and week) a few percent higher, albeit still -41% YTD.

Below, we’ll clean out our lockers after a long week, qualify equity valuations, check on canna credit conditions, offer a few random thoughts and remember our why.

All that and more, just scroll down.

SPY 0.00%↑ QQQ 0.00%↑ IWM 0.00%↑ MSOS 0.00%↑ ETF Notional: $5M

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