The Big Cheese

Wisco wants it's canna cheddar

Daily Recap

The top Democrat in the Wisconsin Senate has released a marijuana policy zine that features information and cartoon illustrations about the state’s ongoing prohibition of cannabis as neighboring jurisdictions adopt legalization. “The most dangerous thing about cannabis in Wisconsin,” she maintains, “is that it remains illegal.”

Legalizing cannabis in Wisconsin could add $36M or more in tax revenue, per a new report, which would pay for 450 teachers, or fix more than 700,000 potholes, or help more than 12,000 struggling families stay in their homes and avoid eviction. It would also help fix this map and show the rest of the country just how smart they really are.

In Colorado, the rumored demise of their legal cannabis program seems to have been a bit premature as the state collected over $280 million of marijuana taxes in ‘22-’23. The Centennial State has made more in tax revenue from marijuana in the past fiscal year than from either alcohol or cigarettes and nearly as much as the two combined.

A top alcohol industry association gave congress some advice on how to best regulate hemp-derived cannabinoids. They believe that lawmakers should create a distinct regulatory category for intoxicating cannabinoids via the Alcohol and Tobacco Tax and Trade Bureau (TTB), which would naturally extend to cannabis proper, as well.

Those efforts weren’t purely philanthropic: A new Gallup poll shows that fewer young adults are drinking alcohol as marijuana grows more popular. 62% of adults under the age of 35 said they’ve ever imbibed adult beverages versus 72% two decades ago. This comes as half of all Americans say they’ve tried marijuana at some time and one in six Americans openly admit they currently smoke pot.

[four of the other five are either lying, ashamed, too rigid, or they don’t remember]

In other sector news, GOP Presidential candidate Vivek Ramaswamy talked cannabis legalization while speaking with Bill Maher (who was smoking a joint); the Minnesota Governor dismissed claims the state constitution lets people sell homegrown cannabis without a license following legalization; the Lone Star State is lighting up as more and more cities choose to decrim cannabis; California cities and counties are cutting taxes in an effort to aid struggling canna companies; a tiny Western Maryland town says it’s a 5% equity partner in Trulieve’s Maryland operation; the next big thing in cannabis is coming to St. Louis; AYR Wellness plans to build a 64,000-square-foot CT cultivation center; Marijuana revenues in Washington state will fund $1.3 million in youth anti-smoking grants; we explore why legal weed costs so much and watch Wall Street lose it’s buzz, almost tick-by-tick, and take stock. All this and more just scroll down…

SPY 0.00%↑ QQQ 0.00%↑ MSOS 0.00%↑ PT Notional: $15M

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