Could Ohio Make Big Bucks on Cannabis?
While the canna rally of September has subsided, there’s still a lot going on in the industry. In this brand-new episode of Trade To Black we reflect on cannabis legalization in the state of Ohio, and the potential tax revenue it could bring to the state’s coffers. We also touch base on some of the political happenings in Washington, the FDA’s warning about Ketamine, and the news happening in the crypto scene.
In Ohio, voting on adult use has commenced, and election day is November the 2nd. Ohio State University estimates cannabis legalization could earn the state somewhere between $257 to $400 million annually. These are potentially some big numbers for the state. Hear more on the market potential, regulations, and the market trends.
At approximately 10 minutes into the podcast, we revisit the conversation into the possibility of Jim Jordan assuming the role of Speaker of the House, discussing the slim majority of 20-21 votes required for this appointment.
We’ll cover impressive earnings reports, emphasizing the company’s performance compared to its competitors, like Cresco Labs, which saw a significant 9% decline in full-year revenue. And we explain the intricacies of wholesale versus retail in the canna industry.
In psychedelics, the FDA has finally issued a warning about misusing Ketamine in treating psychiatric disorders. The warning is more aimed at unsupervised treatment where prescribed remotely. We give our thoughts on that.
We will also address the world of Bitcoin ETFs, tackling false reports and sudden endorsements, with a focus on BlackRock and Vanguard’s potential 10% allocation of their $24 trillion assets to Bitcoin, opening the door to a rapid ascent in the cryptocurrency’s value.
