The Moot Flute

U.S. canna readies for a big week.

Daily Recap

The U.S. Department of Justice confirmed that the HHS will release it’s full letter and enclosures from August that detailed it’s cannabis rescheduling recommendation “in their entirety” in response to a FOIA lawsuit and motion for summary judgment filed by attorney Matthew Zorn.

Here’s the rub: the deadline for the HHS to respond is January 18, or this Thursday.

Markets, of course, will be closed on Monday in honor of Martin Luther King Jr.

“Your motion for summary judgment will be moot once the agency makes this release.”

U.S Department of Justice

Bakers’ Dozen

A coalition of 12 Democratic state attorneys general is urging the Drug Enforcement Administration (DEA) to move forward with federal marijuana rescheduling, calling the policy change a “public safety imperative.”

“We encourage the DEA to implement a final rule rescheduling cannabis to Schedule III based on the Federal Drug Administration’s scientific and medical conclusions. We see this as a public safety imperative and write in support of this policy change.”

Sweet Home Chicago

Illinois pot shops sold more than $1.6 billion worth of adult-use cannabis in 2023, the latest record year for the state’s budding industry. 

That’s a 5% increase from legal adult-use cannabis sales in 2022 as Illinoisans bought more joints, gummies, flower and other weed products overall—42,124,741 of them, to be exact—which was a 15% jump from the previous year. 

Stocks & Stuff

After Cannaland made a stand at technical support yesterday, percolating awareness that we’ll hear from at least the HHS—and maybe the DEA—lent a further bid to the space. U.S. cannabis ETF finished the week at it’s highest level since early October.

Below, we’ll look ahead to next week, chew through potential scenarios and game plan for those contingencies. It’s been a long road for the cannabis community but as we know, life comes down to a few moments and one of them is almost here.

We’ll get into all that and more; all you’ve got to do is scroll down.

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