New York magazine asks whether Joe Biden's "fringe views" on legalization could get President Trump re-elected. The top-tier candidate recently said he supports a state's right to legalize, but he wants a lot more research into whether weed is a gateway drug before national legalization. He proposes making cannabis a schedule three drug to facilitate research, a move that could make life miserable for the industry.
In New York, journalist Eric Levitz argues "Salt-of-the-earth Americans in flyover country want big government to keep its hands off their bongs." I've similarly said no politician wants to be the one who takes away the people's weed, but Levitz has lots more charts to make the case.
At this week's Democratic debate in Atlanta, Biden was enough of an outlier that lagging candidate Sen. Cory Booker, (N.J.) joked he thought Biden "might have been high" when he expressed his views on legalization.
However, the race's dynamic could change now that former New York City Mayor and billionaire Michael Bloomberg said he would run and placed a huge $30M+ ad buy. In January Bloomberg called legalizing marijuana "perhaps the stupidest thing anybody has ever done."
AP, The Hill
In a historic vote, the House Judiciary Committee passed a billed to federally decriminalize marijuana. The Marijuana Opportunity Reinvestment and Expungement Act (or MORE Act) would deschedule marijuana, allow states to set their own laws and require federal courts to expunge many marijuana offenses. It would also include a 5% equity tax.
Business Insider rounds up the 1,000+ layoffs which have taken place in recent weeks, amid the bear market in pot stocks.
MarketWatch rounds up companies' excuses for their dreary earnings season. Mainly they blame Canada. 🍁WW Canada has way more than you want to know about everything going wrong.
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Boston City Council passed significant reforms designed to benefit smaller cannabis businesses and those owned by people of color.
Under the bill, which Mayor Marty Walsh (D), who opposed REC legalization, said he would sign, the city will create a "Boston Cannabis Board" to publicly evaluate license applications on criteria such as their diversity hiring plan.
Meanwhile in California, Chris Roberts looks at how California has failed craft farmers.
Senate Majority leader Mitch McConnell(R), who opposes REC legalization, is pressuring the FDA to speedily regulate CBD.
Leafly published a three-part report on the CBD market.
Well-known California-based brand Kushy Punch lost its California license. In October, state authorities raided an unlicensed factory in the San Fernando Valley operated by the company and confiscated $21M in products.
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President Trump has backtracked from his original call to ban most flavored e-cigs.
New York magazine asks whether horse tranquilizer ketamine, which has received attention as a potential treatment for depression, is "the drug of choice for our disassociated moment."
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