The Rand Stand
KY Senator tries to impose his will.
Daily Recap
Rand Paul (R-KY) said he’s willing to hold up spending legislation to end the ongoing government shutdown if Congress moves ahead with a plan to ban intoxicating hemp.
In a Zoom event hosted by farmers and hemp advocates Tuesday, the Senator warned “we’re at crunch time” to prevent the prohibition from being enacted and there’s “real danger” that he won’t prevail in stripping it from the looming appropriations bill.
Blue Balls
Michigan’s $3B adult-use cannabis market is on the verge of a massive shake-up.
A new 24% wholesale tax set to take effect next year, along with proposals that will cap licenses, stop a cannabis business from operating if public health is at risk, and crackdown on intoxicating hemp products.
Similar legislation surrounding intoxicating hemp is making its way through Ohio, Missouri, Pennsylvania, and other states, which is separate and apart from the latest efforts to close the 2018 Farm Bill loophole language.
Colombia University
The country of Colombia has changed its rules on cannabis by authorizing use of the plant’s flower for medical purposes for the first time and pharmacies and drugstores will be able to sell the product to people with medical certifications.
According to the Ministry of Health, this decision seeks to ensure that patients can access safe, high-quality treatments based on studies demonstrating the therapeutic benefits of cannabis. Furthermore, the Government hopes this measure will boost the rural economy and contribute to changing perceptions about the plant’s medical use.
Stocks & Stuff
The stock market rally continued as I post this at 2:30PM, with all three major indices adding to their all-time highs, while canna continues to waffle in the absence of fresh news, or much volume for that matter.
Below, we’ll top-line today, dig into Verano’s earnings, as well as their settlement of an $861M claim for $10M, update the shutdown-hemp race to the finish, chew through a few rumors, and explore why Target and Circle-K are riding into the eye of the storm.
All that and more, just scroll down.
note: today’s update is out early due to a family obligation.
SPY 0.00%↑ QQQ 0.00%↑ IWM 0.00%↑ MSOS 0.00%↑
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