White House Smoke Signals

Biden bets on Green.

Daily Recap

Vice President Kamala Harris will hold the administration's first public event on canna reform this week after President Joe Biden addressed the issue as one of his priorities in last week's State of the Union address.

The DEA has been conducting a review of the HHS recommendation but has yet to issue an opinion, though one is expected this spring according to two sources with knowledge, per NBC News.

X-Men

The Biden administration’s top health official is defending his recommendation to reschedule cannabis against criticism from a Republican senator, noting that many states have “moved much farther than the federal government” on the issue.

“There’s been a lot of science that’s been collected over the years on cannabis. We have far more information now’” HHS Secretary Xavier Becerra, citing the 252-page confession analysis the HHS provided the DEA to support its recommendation.

Set them Free

A coalition of 36 members of Congress are calling on the President to grant clemency to all Americans currently in federal prison over non-violent cannabis convictions by commuting their sentences—and they noted that the pardons he’s issued to date for simple possession cases did not release a single person from incarceration.

“Until the day Congress sends you a marijuana reform bill to sign, you have a unique ability to lead on criminal justice reform and provide immediate relief to thousands of Americans.”

Moe Greene

Missouri’s marijuana market has experienced significant growth in the first full year since the state legalized adult use. Adult use sales launched in Feb. 2023 and since then, dispensaries sold more than $1.5B worth of kind bud.

Adult-use sales were $98.3M last month, up nearly $3.5M from January.

Stocks & Stuff

Cannaland was closed today in observance of a sunny day probed both sides of the flatline multiple times throughout the session before closing right where it started, as U.S. cannabis ETF MSOS ETF MSOS registered a rare Blutarsky, with a 0.00% gain.

Below, we’ll share observations from the front, review this week’s earnings, and chew through some federal breadcrumbs to see how they taste.

All that and more, just scroll down.

SPY 0.00%↑ QQQ 0.00%↑ IWM 0.00%↑ MSOS 0.00%↑ PT Notional: $58M ($34M)

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