The Democrats’ victories in the two Georgia run-off elections were quickly overshadowed by a Trumpist mob storming the U.S. Capitol. However, the Democrats will now control both houses of Congress, fulfilling the cannabis world’s top priority for the 2020 election cycle. Now the question is what kinds of reform legislation can be achieved.

  • Charlie Bachtell, CEO of MSO Cresco Labs, called the result a “big win” for cannabis. But it’s not clear whether the result will be full legalization or more modest reforms such as banking access, the end of 280E or none of the above. I spoke to Vertical Wellness CEO Smoke Wallin, and Drug Policy Alliance national affairs director Maritza Perez about what happens next.
  • Among other things, Wallin predicted that no matter what else happens, the current ban on interstate trade will remain in place for much longer than many in the industry hope. He argues the states have too much invested in the infrastructures and rules they’ve built, not to mention the jobs they’ve created. 
  • Separately, Michelle Rutter Friberg, a lobbyist with the National Cannabis Industry Association, shared the lay of the land in Congress. Bottom line: Real change is possible but there’s “not a lot of room for error.”  
  • In his newsletter, Dai Truong discussed the Georgia races’ implications for cannabis investing.
  • Cannabis world is lukewarm on President-elect Joe Biden’s selection of Merrick Garland for attorney general. Marijuana Moment explains why.

Quick Hit

  1. It’s looking more like 2021 is the year New York legalizes REC.
    New York Times