California Becomes 6th U.S. State to Legalize Recreational Marijuana
Medical marijuana has been legal in California for over 20 years. Now, the state is joining 5 other U.S. states to introduce the sale of recreational marijuana. Kris Krane, President and Co-Founder of 4Front Ventures, an investment and management firm in the cannabis industry, was with us to discuss the implications of the new law.
Krane says legalization of recreational marijuana will spark a domino-effect in the rest of the country. Colorado, Washington, Oregon, Alaska and Nevada beat the Golden State to it, but Krane says California's decision will be the most impactful due to the state's size and influence on policy. Krane believes an open and legal market will make it increasingly untenable for the rest of the country to maintain prohibition.
Despite leniency on the state level, Krane still sees a hurdle on the federal level. This obstacle will make it challenging for cannabis companies to list on the major stock exchanges in the U.S., he adds. As a result, he thinks the most significant public market movement will continue to take place in Canada, where companies can access the Toronto Stock exchange and other major Canadian exchanges.
Joe Cecela, Dream Exchange CEO, explains how they are aiming to form the first minority-controlled company to operate an exchange in U.S. history. Watch!
A Michigan judge is putting sponges in the hands of shoplifters and ordering them to wash cars in a Walmart parking lot when spring weather arrives. Genesee County Judge Jeffrey Clothier hopes the unusual form of community service discourages people from stealing from Walmart. The judge also wants to reward shoppers with free car washes. Clothier says he began ordering “Walmart wash” sentences this week for shoplifting at the store in Grand Blanc Township. He believes 75 to 100 people eventually will be ordered to wash cars this spring. Clothier says he will be washing cars alongside them when the time comes.
The State Department had been in talks with Elon Musk’s Tesla company to buy armored electric vehicles, but the plans have been put on hold by the Trump administration after reports emerged about a potential $400 million purchase. A State Department spokesperson said the electric car company owned by Musk was the only one that expressed interest back in May 2024. The deal with Tesla was only in its planning phases but it was forecast to be the largest contract of the year. It shows how some of his wealth has come and was still expected to come from taxpayers.
At 100 years old, the Goodyear Blimp is an ageless star in the sky. The 246-foot-long airship will be in the background of the Daytona 500 — flying roughly 1,500 feet above Daytona International Speedway, actually — to celebrate its greatest anniversary tour. Even though remote camera technologies are improving regularly and changing the landscape of aerial footage, the blimp continues to carve out a niche. At Daytona, with the usual 40-car field racing around a 2½-mile superspeedway, views from the blimp aptly provide the scope of the event.
You'll just have to wait for interest rates (and prices) to go down. Plus, this deal's a steel, the big carmaker wedding is off, and bribery is back, baby!
