💸 The Tape

Cannabis Is The Great Unifier

In a twist that could make even the most seasoned political analysts do a double-take, cannabis legalization has blossomed into a truly bipartisan issue in the United States. Yes, you read that right—the nation that once declared war on weed now finds both major presidential candidates endorsing its legalization. It's as if Democrats and Republicans finally found common ground, and it smells a lot like, well, you know.

Let's start with Vice President Kamala Harris, the Democratic presidential nominee. Harris has been vocal about her support for federal cannabis legalization. She's framed it as a matter of social justice, emphasizing the disproportionate impact of marijuana prohibition on communities of color. Her plan includes expunging the records of those convicted for cannabis-related offenses and investing in communities hit hardest by the war on drugs. It's a policy position that resonates with progressive voters and aligns with the Democratic Party's platform.

On the other side of the aisle, former President Donald Trump, the GOP nominee, has also signaled support for cannabis reform. While traditionally more conservative on drug policy, Trump has surprised many by expressing openness to federal legalization. He's suggested that regulating cannabis could boost the economy—a nod to his business-minded base—and has even hinted at the benefits of removing cannabis from the Controlled Substances Act. It's a pragmatic approach that acknowledges the shifting public sentiment and the greenbacks to be made in the green industry.

Now, let's zoom in on Florida, where Amendment 3 is sparking heated debates hotter than a Miami summer. This ballot initiative aims to legalize recreational cannabis for adults 21 and over, essentially turning the Sunshine State into the "Sun-grown State." Both presidential candidates have influenced the conversation, with Trump having the upper hand and directly endorsing the ballot initiative in his home state.

Recent polls suggest that a significant majority of Floridians support Amendment 3, with numbers hovering around the crucial 60% mark needed for it to pass. Despite opposition from Governor Ron DeSantis, who seems determined to play the role of the strict parent, the amendment is gaining traction. Advocates argue that legalization would generate substantial tax revenue, create jobs, and reduce the burden on the criminal justice system. Critics, however, raise concerns about public health and safety, though these arguments appear to be losing steam.

Moreover, the potential passage of Amendment 3 in Florida could unlock one of the largest untapped cannabis markets in the country. Florida's population isn't just large; it's diverse and includes a substantial elderly demographic that could benefit from medical cannabis. The state's tourism industry could also see a boost, with visitors perhaps seeking more than just theme parks and beaches.

Cannabis legalization has evolved from a fringe issue to a political juggernaut that neither party can afford to ignore. With both presidential candidates onboard, it's clear that the tide has turned. The plant that was once vilified is now being championed as a source of economic growth, social justice, and medical relief.

For investors, entrepreneurs, and consumers alike, the bipartisan embrace of cannabis signals a burgeoning industry ripe with opportunities. It's not often that Democrats and Republicans see eye to eye, but when they do, it might just be over a shared vision of a greener America—both environmentally and financially.

So, as we watch the political landscape shift, one thing is clear: the future of cannabis in the United States is looking higher and brighter than ever. And that's something even Wall Street can toast to (once custody is fixed of course), perhaps with a cannabis-infused beverage in hand.

📈 Dog Walkers

Glass House To Report

Glass House Brands Inc. (CBOE CA: GLAS.A.U, OTCQX: GLASF) is gearing up to reveal its third-quarter financial results on Wednesday, November 13, 2024, just after the market closes. For those eager to dive into the numbers, the company will host a conference call at 5:00 p.m. ET, where they’ll break down the details and, hopefully, offer insights into their continued growth in the U.S. cannabis market. You can join the call by dialing 1.888.596.4144 and entering Conference ID 7699737#. The webcast will also be available on the Glass House Brands website and archived for 30 days, complete with transcripts, financials, and management analysis for those who like to dig deep into the details.

Sko Buffs!

Breckenridge Brewery, part of Tilray Brands Inc. (NASDAQ: TLRY, TSX: TLRY), has just dropped a treat for Colorado Buffaloes fans—a special edition 19.2 oz. Juice Drop Hazy IPA can, celebrating Colorado's rich traditions of craft beer and college sports. Decked out with the iconic CU Buffaloes logo, this limited-edition can is a must-have for Buffs fans and craft beer aficionados alike. With its tropical, citrus-forward profile, Juice Drop captures the bold, vibrant energy of the Buffs and promises to be the MVP at tailgates and watch parties.

“We’re thrilled to continue this partnership with CU athletics,” said Breckenridge Brewery’s brand director, Ryan Workman. Fans can snag these cans at select retailers across Colorado, so grab yours and cheer on the Buffs!

👾 Number Of The Day

$653.2M Dollar amount of flower sold in Missouri over the last year.

🗞️ The News

Which Workers Are Most Likely To Use Marijuana? Food Prep, Creatives And Construction Workers, CDC Study Finds

Florida Marijuana Legalization Campaign Highlights Support From Trump And Harris

Former NBA stars take their shots in the cannabis industry

Virginia Cannabis Authority chooses Metrc for seed-to-sale tracking system

Stakeholders fight over Colorado cannabis company’s assets after operation’s demise

📺 YouTube

Cannabis News: Election, Rescheduling | Trade to Black

What we covered:

✅ On our latest Trade To Black podcast, Rob Sechrist from Pelorus Capital, one of the most politically connected cannabis executives in the industry, joins us to discuss the upcoming election and rescheduling.

Sechrist will explain why the immediate focus needs to remain on realistic goals, like rescheduling, rather than on election outcomes.

He believes that currently, neither political side wants to hand a “win” on legalization, making the push for rescheduling vital, as it could significantly ease pressures on the cannabis industry.

Plus, he’ll discuss why he believes a Donald Trump Republican win could benefit the cannabis industry more in the long term than a Democratic win, how he thinks the ALJ hearing will play out, and whether lawsuits from the hearing might delay the overall outcome.