Promises Made...

The canna crowd awaits their fate.

Daily Recap

A majority of cannabis consumers disapprove of the Trump administration’s actions on cannabis policy to date, but the survey shows a significant willingness among users to shift their position if the federal government decides to reschedule marijuana.

The results come as President Donald Trump is facing scrutiny from advocates who hoped to see him complete the rescheduling process. Trump endorsed the proposal—as well as industry banking and a Florida legalization ballot initiative on the campaign trail last year—but he’s since been publicly silent on the issue since.

Amish Crunch

Pennsylvania Gov. Josh Shapiro and state lawmakers are getting down to crunch time, with big questions outstanding on how to balance the Democrat's spending request.

Pennsylvania has real-world experience successfully regulating the retail sale and use of medical cannabis. Currently, nearly 450,000 Pennsylvanians are registered with the state to purchase cannabis products from more than 180 licensed retailers statewide.

A push is on to make Pennsylvania the 25th state to legalize cannabis for adult use, and Pennsylvania's government has two weeks to pass a new spending plan before the new fiscal year starts July 1.

Del Boca Vista

Florida adult-use canna failed at the ballot box last November, but six months later the biggest medical companies in the market remain bullish on the Sunshine State.

Florida is the third largest state in terms of population, which would provide a massive customer pool if cannabis were available to all adults regardless of medical condition—but without legalization, Florida still packs a financial punch for the industry.

The state had 918,290 registered medical cannabis patients as last week, with 721 dispensaries across the state to serve those patients.

The Not-So-O.K. Corral

After what he described as the “most conservative session” ever, Lt. Gov. Dan Patrick acknowledged that the fate of one of his top priorities, Senate Bill 3, which bans all products containing THC, remains uncertain for at least another week.

“My job is to do the work and pass laws to protect Texans, and his job is to review all those laws and decide which ones he's going to sign, and which ones he's not,” Patrick told Inside Texas Politics. “It passed with overwhelming support of Republicans in both chambers. It passed with the total support of law enforcement everywhere.”

Stocks & Stuff

U.S. equities were softer as geopolitical tensions rose after President Trump returned early from the G-7 and demanded an “unconditional surrender!” by the Iran regime.

Crude rallied 5%, the dollar gained against a basket of currencies, bitcoin lost 4% and cannabis…barely got out of bed, finishing flat on less than $3M total notional. They say the opposite of love isn’t hate, its apathy, and we’re pretty much there.

Below, we’ll chew through the things that are going on, including the likelihood of the hemp ban making it into the appropriations bill, and keep it as light and tight as able.

All that and more, just scroll down.

SPY 0.00%↑ QQQ 0.00%↑ IWM 0.00%↑ MSOS 0.00%↑ ETF Notional: $3M

Top Stories