Our commentary over the previous weeks has covered the transition to a Biden/Harris administration, and potential changes in the Senate that could have a meaningful impact on hemp policy.  Democrats have seemingly secured at least one of the GA Senate seats up for grabs, and though it is too close to call, it appears that the balance of power in the US Senate just shifted. A 50/50 Senate does not make for a smooth runway for legislation, but Harris’ tiebreaking power could help any legislation that falls sharply down partisan lines.   

If this scenario plays out, and Democrats secure both seats, we could very well see radical policy shifts for MJ, which will naturally impact hemp markets.  There is a preponderance of factors that convince us that changes are more likely than not.  The MORE Act passed the House last year and queues up a first pitch to Republicans that addresses social justice…