2018 Midterm Elections Experience "Green Wave"
I don’t think anyone can say for certain if the results of yesterday’s general election constituted a blue wave or a red wave, but it would be tough to deny there was a GREEN wave yesterday.
Michigan voters broadly approved legalizing cannabis for recreational use (and also elected a more pro-cannabis governor as one of the six states to flip the gubernatorial seat from red to blue).
Joining the list of medically-legal states is Utah and the mildly-surprising Missouri vote as well. I suspect we will also see a rapid up-tick in hemp production out of the Show-Me state.
Feeling the wipe-out on the Green Wave is former U.S. Attorney General Jefferson Beauregard Sessions, who resigned ignominiously, apparently at the long-anticipated bequest of his boss. I think these results, along with the house swinging democrat, will change the landscape of the next legislative session with regards to cannabis, broader rescheduling and industry banking. I think we could see meaningful legislative change at the federal level regarding cannabis in the 116th Congress — and I would have been hard-pressed to say that even 3 months ago.