💸 High Impact

Everything Is Getting Bigger In Texas

The What - Bastrop, Texas, residents are preparing to vote on whether to decriminalize marijuana within their city limits. This measure, if passed, would change how marijuana-related offenses are handled locally, potentially reducing the burden on law enforcement and the criminal justice system.

The proposed measure aims to decriminalize the possession of small amounts of marijuana, making it a low-priority offense for local police. This change could lead to fewer arrests and prosecutions for minor marijuana offenses, aligning Bastrop with many cities and states that have adopted similar policies.

Supporters of the measure argue that decriminalization would allow law enforcement to focus on more serious crimes, reduce incarceration rates for non-violent offenders, and address the disproportionate impact of marijuana arrests on minority communities. As noted in KXAN Austin, “This ordinance will stop people from going to jail with citations for Class A and Class B misdemeanors,” said Ground Game Texas Political Director Mike Siegel. Opponents, however, raise concerns about potential increases in drug use and the implications for public safety.

This vote in Bastrop is part of a larger movement across Texas, where many jurisdictions are reconsidering their marijuana laws. At the same time, opponents have yet to be successful in using the courts to block this progress. For example:

• Last week, Ground Game Texas scored another victory as Judge Sherri Tibbe dismissed Ken Paxton’s lawsuit against San Marcos, reinforcing the right of cities to manage their own marijuana policies.

• Ten days ago, we noted that Dallas voters will soon decide on a proposal to reduce penalties for marijuana possession. This reform aims to reduce arrests and citations for low-level offenses, making it easier for residents to avoid criminal records.

• In June, a Texas judge dismissed a GOP challenge to the state’s medical marijuana law. This decision allows the current medical cannabis program to continue operating.

• In May, a Texas Lyceum poll showed that 60% of Texans support cannabis legalization. This reflects growing public approval for changing marijuana laws in the state.

Bastrop voters will have the final say on this measure, reflecting the community’s stance on marijuana decriminalization and setting the stage for possible future reforms.

Big Takeaway

Texas is making huge strides to decriminalize cannabis well before they can even sell it. I would say this is putting the cart before the horse, but if I’m being honest, it doesn’t matter as these are major steps forward for the Lone Star State. If anything, this is showing that Texans are supportive of the plant, and despite what the powers that be in the state think about the plant, the people and municipalities are creating the change they desire.

📈 Dog Walkers

Missouri Governor Takes Action

Missouri is an adult use cannabis market, as we all know, and as of yesterday, the Governor is officially taking action to protect the industry. Governor Parson announced that he has issued an executive order banning the sale of unregulated psychoactive cannabis products. This sweeping policy should have a major positive impact on the state-licensed cannabis companies and a major negative impact on any businesses relying on the sale of subpar hemp products. I’m sure this will get challenged in the courts, but it should hold water for the time being.

Official Statement

Greenlane Announce Stock Split

As if the story couldn’t get any worse for Greenlane Holdings, they are now doing a stock split which will reduce the share count from 5.8M to around 500k. Yay. The move is being made out of desperation to stay in compliance with Nasdaq requirements. This, paired with their abysmal earnings last week, does not really give me much hope for this company on a go-forward basis. Maybe it needs to be taken behind the woodshed and put out of its misery.

Cherokee Tribe Gives The Man The Finger

The Eastern Band of Cherokee Indians will open the first recreational cannabis dispensary in the state of North Carolina in a little under a month from now. The dispensary is currently only selling adult use cannabis to members of the tribe, but as of September 7th, it will open the doors to all patrons. I'm definitely not the first to say this, but this is now getting to the point of being ridiculous. I commend the tribe for taking matters into their own hands and operating on their land, but they shouldn’t have to. We need sweeping, sensible cannabis legislation NOW.

🗞️ The News

GOP Senator Thom Tillis: Cannabis Should Mimic Tobacco Industry

Ohio’s Adult-Use Cannabis Dispensary Licenses Now on Deck

Unknown compounds found in marijuana testing samples, lab owners say

Cherokee Tribe Will Open The First Legal Marijuana Store In North Carolina To All Adults Over 21 Next Month

Supreme Court’s Domestic Violence Ruling Underscores Why Marijuana Users Shouldn’t Own Guns, DOJ Tells Federal Court

📭 Research

Initiating Coverage: Green Thumb Industries - Download Here

Reconfirming Buy Rating: MariMed - Download Here

Initiating Coverage Of Verano Holdings Corp. - Download Here

Initiating Coverage: TerrAscend - Download Here

📺 YouTube

Acreage Holdings COO Explains Ohio Cannabis Market Opportunity

What we covered:

✅ In the latest episode of the Trade to Black podcast, we talk Ohio, and discuss the latest updates on adult-use recreational sales and the potential timeline for launch.

Acreage Holdings (CSE: ACRG.A.U) Chief Operating Officer Rebecca Kirk joins us to talk about the opportunity it presents, along with Ohio being the primary focus for the company moving forward.

Additionally we discuss how the company has transformed over the past few quarters with the acquisition of Canopy USA, and how they plan to evolve once Wana & Jetty are rolled in.

The US market is on the verge of rescheduling cannabis,and pending news regarding SAFE Banking, which would translate into a big opportunity for Acreagae Holdings and Canopy USA.