The Big Chill

It's holiday season in Cannaland.

Daily Recap

The Republican electoral victory this November indicates significant policy changes are coming over the next few years. One of many issues President-elect Donald Trump’s new administration will need to consider is the federal treatment of cannabis.

Geoffrey Lawrence and Jeremiah Mosteller, in an Op-Ed for The Hill today, urge him to partner with the Republicans in Congress who have already lead on the issue to help him fulfill his campaign promise.

Organizations on the political right have evolved their vision on canna policy to one that advances individual freedom and legitimate entrepreneurship, they argue.

Prohibition has been justification for the massive growth in the size and scope of government reach, and it has ruined the lives of millions of Americans who have engaged in peaceful behaviors with the simple hope of benefitting from this plant.

Exit Strategy

In what appears to be a first for public workers in the United States, medical marijuana coverage is being added as a healthcare benefit for employees in three New Jersey municipalities, providing access to discounts at participating dispensaries as well as cannabis-related telehealth care.

Participating workers will reportedly get at least 15% off what a typical MMJ patient would pay. Bennabis, which also works with private employers, signaled expansion into Maine too, announcing partnerships with dispensaries in four localities there.

Last Licks

A leading drug policy advocacy group has published a draft executive order that it hopes will guide President Joe Biden or future administrations to promote equity in federal marijuana policy and steer the country away from the drug war.

The suggested moves include mandating the attorney general to reinstate cannabis enforcement guidance that was rescinded under the first Trump administration.

Apple Orchard

New York is set to hit the $1 billion mark in cannabis sales since the legal market launched two years ago, state officials told The Post. Pot sales hit $864M last week — and could top the billion-dollar mark by the end of December, regulators say.

“These numbers clearly indicate that New York is open for business. There’s strong momentum behind the market right now.”

Stocks & Stuff

It was a quiet start to the abbreviated holiday week as U.S. cannabis ETF MSOS limped softly to a 2% gain. It’s been rough for this pup since it beat all comers in Q1 as a top sector ETF, but state and federal fails have since taken a toll.

Below, we’ll top-line the landscape, look ahead to next week’s twin legal proceedings, spy some underappreciated news, draw upon a historical parallel and share the LOVE.

All that and more, just scroll down.

SPY 0.00%↑ QQQ 0.00%↑ IWM 0.00%↑ MSOS 0.00%↑ ETF Notional: $34M

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