SLEEKSCAPE'S 2022 CANNABIS & MARIJUANA MANIA GRAND SALAMI -- PART II

[sleekscape]

We are now ahead of this schedule I laid out 1 week ago

Looks like SAFE Banking Act will now be voted on in House next week, so “1-2 weeks” would have been more accurate than “1-2 months”

See next few posts for details, along with new info on Chuck’s new MJ Legalization bill, which is sounding more and more like The STATES Act, which Biden actually supports

The STATES Act has a significantly better chance of passing than other legalization/decriminalization bills that have been discussed — it would remove MJ entirely from The Schedule of Controlled Substances and allow states to legalize MJ without mandating them to do so — actually not very different from what we’ve seen with Hemp Legalization, where states don’t have to legalize hemp if they don’t want to do so (all 50 states have now legalized hemp)

April Recap of SAFE Banking and CBD Legalization

The order of events I’m looking for in terms of The 2021 SAFE Banking Act moving thru Congress:

1) House Passage — many believe this will occur within next 1-2 months

2) Introduction and consideration in the Senate Banking Committee — probably needs to pass House first

3) Senate Floor vote as standalone legislation or part of larger bill like infrastructure

So far this year, the probable MJ events like NY passing MJ, which I pegged as having a 70% probability, have occurred

Federal cannabis legislation is obviously a trickier proposition, but with Chuck in charge and his own state now positioned to greatly benefit from legalizing cannabis banking, along with the bipartisan support for The SAFE Banking Act of 2021 in the Senate at both the committee level (Toomey) and in the greater Senate, I would put the odds of SAFE Banking passage in 2021 at 65%

With introduction, consideration and passage thru the Senate Banking Committee, which has never happened before, that number moves to 70%-75%

Current number of Republican cosponsors is 7:

https://www.congress.gov/bill/117th-congress/senate-bill/910/cosponsors?q={%22search%22:[%22Cannabis+banking%22]}&s=2&r=2&overview=closed&searchResultViewType=expanded

If Republican cosponsors move to 9 or higher, any floor vote for passage becomes an 80%+ event

In terms of the prospects for CBD Legalization and FDA publishing its policy of Enforcement Discretion for CBD Products, the Validcare data for liver safety looks great, so the next step there is sharing the results with FDA and publishing the study in a medical journal, which is anticipated to happen sometime this Spring

From March 22nd ValidCare PR on Liver Safety Study:

https://validcare.com/press/validcares-clinical-study-reports-preliminary-results-of-cbd-liver-safety/

Congressional leadership asked ValidCare almost 18 months ago to engage industry help collect safety data for FDA. We understand the significance, importance and immediate need for CBD safety research for the FDA, industry and the US consumer. This first of its kind, industry led, multi-branded study required trust, collaboration, operational excellence, innovation, and resilience. It demonstrates the incredible potential for decentralized clinical research to increase participant access and accelerate results – even during the most challenging times” said Patrick McCarthy, CEO of Validcare. “We are excited for our principal investigators to continue, expand and report out on this foundational work in the next few months. Once completed, safety results of this study will be shared with participating brands and FDA. The investigators also plan to publish in a peer reviewed journal.”

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