TLRY - Georgia Senate election is a big wildcard in the cannabis sector

Cowen weighs in on the cannabis sector ahead of the Senate runoff elections in Georgia this week. Analyst Vivien Azer notes that if Republicans win at least one seat, Mitch McConnell returns as Majority Leader and legalization efforts are likely to be sidelined. Azer: "By contrast, a Democratic sweep makes Chuck Schumer the majority leader. That means there will be a vote on legalization. We expect Democrats to retain the filibuster. That is a problem as we don't see 10 Republicans and every Democrat uniting behind legalization legislation," she adds."It is why we believe the STATES Act to defer the issue of legalization to the states is more likely to pass in a Democratic Senate than the MORE Act, which removes cannabis from the Controlled Substances Act. The STATES Act is a compromise measure that plays to GOP support for the rights of states to decide policy issues. Enactment of

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Georgia Senate election is a big wildcard in the cannabis sector