Texas Tornado

Lone Star State poised to ban hemp THC.

Daily Recap

The Texas House gave final approval to a bill that would ban all products containing THC, likely spelling the end for the state’s short-lived hemp industry.

Under the legislation, hemp retailers and recreational users would be allowed to sell and consume only non-intoxicating, non-psychoactive cannabinoids like CBD and CBG.

THC products have a ubiquitous presence at gas stations, convenience stores and thousands of other retailers across Texas, many of which sell untested products that, as we continue to learn, have in-part fueled a syndicate of crime rings and cartels.

The impending THC ban portends a minor economic shock, effectively shuttering an estimated 50,000 jobs that generate $8 billion in tax revenue annually.

On the flip side, the Texas House passed House Bill 46, which would add chronic pain as a qualifying condition for the state's medical cannabis program. Before the third and final vote, the bill's author, State Rep. Ken King (R) said it was a "veteran priority."

"There are too many Texans who are still struggling to get access to the medicine they legally have a right to receive."

As a cannabis industry CEO recently mused on X,

“What is legal federally is illegal now in Texas. What is illegal federally is legal now in Illinois. What is legal federally is illegal now in California. What is legal federally is legal now in Minnesota.”

Our view remains the same: canna and hemp are literally the same plant and should be regulated as such, with safety and testing protocols and uniform tax and banking treatment. In other words, what we need, more than anything, is common sense.

Ring tha Bell? 🎶

Bicameral Pennsylvania Democratic lawmakers are aiming to reach a compromise on cannabis legalization over the next few weeks after a House-passed bill to enact the reform with state-run stores was killed in the Senate—with the House sponsor of that legislation indicating he’s open to dropping the controversial state control component.

Sen. Sharif Street’s (D) said he’s “cautiously optimistic we’re going to be able to revive the bill and amend it and move forward with a work product that allows us to get a bill on the governor’s desk and realize revenue.”

Now would be good

Our updated cannabis policy opportunities reflect the 75,000 jobs that have been lost to the CCP and Cartels. The U.S needs regulatory reform ASAP if we hope to service the millions of American consumers thirst for safe, tested and regulated THC.

Stocks & Stuff

Markets were lower as they settled into the extended holiday weekend and X, infected with bots, lost select functionality across the platform as system-wide issues continue.

Canna, meanwhile, continued to trade like a fart in the wind.

Below, we’ll dive into the international opportunity, explore the chasm between U.S. and Canadian valuations, see how we’re squandering American Exceptionalism and talk truth about the human toll this industry has taken as it awaits federal reform.

All that and more, just scroll down.

SPY 0.00%↑ QQQ 0.00%↑ IWM 0.00%↑ MSOS 0.00%↑

Top Stories