Takeaway: We are hosting our Cannabis Industry Monthly update call on 12/08/21 @ 12:30

Cannabis Weekly | NDAA TRACKER | NO HARD DEADLINE  - 2021 12 05 12 38 57

As the Drug Policy Alliance (@DrugPolicyOrg) says, "the war on marijuana is a war on people," and we agree.  In a 12/03/21 blog post, the group calls for "Urgent Action: Don't Let Congress Prioritize Marijuana Profits Over People.  Congress can't prioritize banking, profits, & big business before equity & justice for people being harmed by marijuana criminalization. Keep the #SAFEBanking bill out of the NDAA until these points are addressed.  They go on to encourage people to call "Congressional leadership to continue holding strong to keep the SAFE Banking Act out of the National Defense Authorization Act. Marijuana prohibition is ruining lives, and ending federal marijuana prohibition with comprehensive reform like the MORE Act should be your focus right now. Please continue making sure that Congress doesn't prioritize banking, profits, and big business before long overdue equity and justice for people harmed by marijuana criminalization. Please keep the SAFE Banking bill out of the NDAA and instead move the MORE Act forward." Sound familiar?

I'm sure you would not be surprised to find out that the DPA is based in New York and is aligned with @SenSchumer on keeping SAFE out of the NDAA.  Yes, the details of SAFE are about safeguarding banks and insurance companies; it's not being done at the expense of people.  Better bills like the MORE Act defend the POC communities being harassed, criminalized, and targeted; while not perfect, SAFE is an essential first step.   As we start the week, SAFE is not in the NDAA and might not make it, but that is ok too.  The SAFE/NDAA debate is about a first step toward the greater good of ending the war on drugs. Notably, the passage of SAFE will allow the Financial Crimes Enforcement Network (FinCEN) to write new rules around cannabis laws that will protect every human that works in the industry and associated with it, even the POC communities.  The pushback that SAFE will enrich big cannabis is also a political ploy.  Does the NY-based DPA believe that SAFE in the NDAA will hurt people, or are they siding with the Senior Senator from NY due to political pressure?  

The big US MSO that make up the current $31 Billion in market cap didn't need SAFE to get where they are today, and SAFE passing in the NDAA will not change much, like let the Canadian LPs into the US.  SAFE passing will signal that Washington is serious about finally getting to the will of the people and ending the War on Drugs.  Comprehensive legalization needs to be done thoughtfully and responsibly to help the POC communities, and this will take time!  Full legalization with interstate commerce is years away!

They usually complete the NDAA process by year-end, but they can get away with doing it in 1Q22, so don't count on hard deadlines.  While the recent performance is encouraging, the performance of the MSOS over the past month suggests that the notion of SAFE passing in the NDAA is low.

Cannabis Weekly | NDAA TRACKER | NO HARD DEADLINE  - 2021 12 03 7 16 24

Cannabis Weekly | NDAA TRACKER | NO HARD DEADLINE  - 2021 12 05 12 34 18

Cannabis Weekly | NDAA TRACKER | NO HARD DEADLINE  - 2021 12 05 9 27 14