Vote Green

Cannaland waits on a razor's edge.

Daily Recap

With the election tomorrow, United States citizens will make some major decisions concerning cannabis legalization. Residents from North Dakota, South Dakota and Florida will vote on adult-use, while Nebraska tries to join the 38 other MMJ states.

If approved by voters, the new regulated adult-use markets could collectively produce $3B in the first full year of sales. Together, those markets would likely reach $4.3B in sales by the fourth year of operations, per MJBiz Factbook.

Purple Nurple

For most of the past decade, conventional wisdom held that cannabis is good for Democrats and bad for Republicans. But during this unique presidential campaign cycle, it was the GOP that made headlines for embracing the issue while VP Harris didn’t mention it once since becoming the nominee in mid-July… until Sept. 30.

If Harris racks up wins across the canna-friendly Midwest, her campaign could say legalization played a role but if a tight election comes down to a few thousand votes in a contested Pennsylvania or North Carolina county, advocates could also claim that canna would have made the difference and here’s the thing: they might be right.

Weed Whacko

Florida Governor Ron DeSantis and the state Republican Party have aligned with companies that are selling high-potency cannabis to Floridians online and over the counter in an attempt to defeat recreational marijuana at the ballot box.

They accepted donations this summer from hemp companies whose products tested above the legal limit in Florida for THC, rendering them illegal marijuana in the state, and 41 of those products also contained unauthorized or banned pesticides.

And don’t get us started on the Gov using taxpayer dollars to advance his agenda.

Stocks & Stuff

It was a green day to start the week as last night’s canna push by Harris, coupled with hopes that the sunshine state will finally flip, lent a bid to our beleaguered complex. U.S. cannabis ETF MSOS finished the session 4% higher as folks get ready to vote.

Below, we’ll top-line the landscape, compartmentalize the catalysts, digest the recent ALJ news, preview earnings and brace for impact ahead of the 2024 elections.

All that and more, just scroll down.

SPY 0.00%↑ QQQ 0.00%↑ IWM 0.00%↑ MSOS 0.00%↑ ETF Notional: $106M

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