Smoke Signals

Harris promises to free the plant.

Daily Recap

Vice President Kamala Harris is pledging to federally legalize marijuana, ensuring that access to cannabis is “the law of the land.”

If elected, she would “break down unjust legal barriers that hold Black men and other Americans back by legalizing marijuana nationally, working with Congress to ensure that safe cultivation, distribution, and possession of recreational marijuana is the law of the land,” the Harris campaign said in a press release on Monday.

Model Citizen

Illinois officials released a sweeping report on the state’s cannabis market, describing the past year as one of “explosive growth in the cannabis industry” and noting that licensed retailers sold more than $2B worth of legal products during fiscal year 2024.

“This growth has allowed for the creation of new jobs, increased access for cannabis consumers, and shows the State’s commitment to social equity in its programs.”

Buck Up

After 61 days, Ohio’s roughly 130 dispensaries reported $98.3M in adult-use sales and $67.6M in medical cannabis sales, according to the Ohio Division of Cannabis Control.

The $165.9 million in total sales through the first two months represents an annual run rate of nearly $1 billion in sales, meaning Ohio will likely join the ranks of 11 other states with billion-dollar markets forecasted for this year.

Penn Station

Bipartisan Pennsylvania voters in two key competitive House districts are strongly in favor of legalizing marijuana and most agree that enacting the reform this session is “crucial to stimulate economic growth,” according to a new poll.

The survey looked at voters’ attitudes toward legalization in HDs 44 HD 18—districts currently represented by Republicans where polling shows the race will be tight into next month’s election. The takeaway is clear: majorities of voters in those jurisdictions, including Republicans, favor reform.

Stocks & Stuff

A whiff of attention from the Democratic presidential nominee was enough to merit a 3% gain for U.S. cannabis ETF MSOS, although volumes, much like details, were light, and technical resistance remains layered above.

Below, we’ll top-line the landscape, navigate the nuances of Kamala’s canna promise, talk through Ohio, touch on earnings revisions and check on charts as we countdown the days until the election.

All that and more, just scroll down.

SPY 0.00%↑ QQQ 0.00%↑ IWM 0.00%↑ MSOS 0.00%↑ ETF Notional: $36M

Top stories