Vice Spice

VEEP candidates set to square off.

Daily Recap

The top Democrats on key House committees are calling for “swift action” from the DEA to reschedule marijuana and they want federal agencies to “continue to assess” whether further reform, including full descheduling of cannabis “may be appropriate.”

The findings “correspond” with the U.S. Department of Health and Human Services (HHS) and Justice Department recommendation to move marijuana from Schedule I to Schedule III of the Controlled Substances Act (CSA), they said.

The ALJ hearings, of course, are currently scheduled for December 2nd.

Vice-Present

As Donald Trump considered his options for a vice-presidential running mate, Sen. JD Vance’s (R-OH) cannabis record—specifically his opposition to legalization—was a focus for the researchers vetting him, according to a leaked dossier on the senator.

This comes as Vance prepares for tonight’s debate against Minnesota Gov. Tim Walz (D), who signed legalization into law before becoming Vice President Kamala Harris’s VP pick on the 2024 Democratic ticket.

Banksy

On the one-year anniversary of a Senate committee’s passage of a bipartisan canna banking bill, the Congressional Budget Office released an analysis on the economic impact of the reform, including the likely increase in federally insured deposits by billions of dollars once banks receive the protections for servicing the industry.

Cali Sober

California Gov. Gavin Newsom (D) signed a bill to legalize cannabis cafes in his state, just one day after vetoing a separate proposal to allow small marijuana growers to sell their products directly to consumers at state-organized farmers markets.

Stocks & Stuff

It was a wild day on Wall Street as Mideast tensions triggered volatility across all asset classes. Stocks came for sale as Iran’s missiles crossed into Israel but steadied as the initial wave of attacks subsided. U.S. cannabis ETF MSOS finished the session -3%.

Below, we’ll top-line the landscape, sniff at the signposts, preview the debate, update the charts and spy a U.S. tobacco company getting ready to enter the space.

All that and more, just scroll down.

SPY 0.00%↑ QQQ 0.00%↑ IWM 0.00%↑ MSOS 0.00%↑ ETF Notional: $77M

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