Welcome to my Weekly Weed Report for Tuesday, October 25. Below is a condensed transcript; my video contains charts and further details.

So much for the culture wars! A new poll shows that Republican voters increasingly embrace marijuana reform proposals, ranging from medical cannabis legalization to expungements for previous marijuana convictions to letting states establish their own policies without federal interference.

The survey, commissioned by the National Cannabis Roundtable (NCR) and released in September, found that most Republicans support incremental reforms, including federal non-interference in state marijuana markets (76%), expungements in legal states (56%), and treating the cannabis industry the same as other traditional businesses (73%).

In the words of former Senator Cory Gardner (R-CO), an NCR advisory board member: “There’s been a massive shift in opinion, and its evidently clear that Republicans have extremely positive attitudes towards legal cannabis.”

These poll findings are particularly timely, from a political standpoint. Several proposals to legalize marijuana at the federal level await action in Congress. What’s more, a slew of legalization measures will face voters in the midterm elections, which occur on November 8. Polls show that these cannabis-related midterm initiatives are all popular with voters. And of course, marijuana legalization has been overwhelmingly popular with Democrats and independents for several years.

Read This Story: America’s Deepening Love Affair With Pot

During the midterms, voters in five states — Arkansas, Missouri, North Dakota, South Dakota, and Maryland — will consider recreational marijuana initiatives. Except for Maryland, which is a heavily Democratic state, all four of those states were carried by Donald Trump during the previous two presidential elections. They are deeply red electoral battlegrounds.

Nineteen states and the District of Columbia already have legalized recreational marijuana by ballot measure or legislation; 37 states and DC all have laws permitting marijuana for medical use.

A growing number of Americans, including many conservative members of Congress, support marijuana legalization. What intrigues me is how members of the establishment who occupy the right wing of the political spectrum are coming around to embrace marijuana legalization.

Marijuana isn’t yet legal at the federal level but…

Former House Speaker and lifelong Republican John Boehner famously went on record to say this about federal marijuana legalization: “It is not a matter of if, it is a matter of when.”

Mr. Boehner, who once described himself as “irrevocably-opposed” to marijuana, doubled-down on his revised opinion in 2018 when he became director of Acreage Holdings (OTC: ACRHF), a major player in the global cannabis industry.

And Boehner proudly let America know his “thinking on cannabis has evolved.”

Even Dr. Scott Gottlieb, during his time as commissioner of the U.S. Food and Drug Administration under President Trump, went on record in support of cannabis-based medicines, saying: “Ingredients derived from marijuana can lead to important therapies.”

I worked in Congress as a press secretary to a congressman, and I’ve kept in touch with my former colleagues on Capitol Hill. If my sources in Congress are right, which I have no doubt they are, what’s coming down the pike next is a marijuana “omnibus” legalization bill.

Omnibus bills fuse together parts of separate bills to get multiple items passed at once. They’re notoriously effective at passing controversial laws by lumping them in with issues that already have majority support.

The upshot: The many bills pending in Congress to normalize marijuana laws are probably designed to be “icebreakers” for a single, massive bill that will eventually make it to President Biden’s desk.

One nation, under weed…

I’ve just described trends that are tailwinds for marijuana companies. The federal ban on marijuana appears doomed; the time to invest in pot stocks is now.

Marijuana remains federally prohibited, and yet the United States is home to the largest number of marijuana users in the world. According to the latest estimates from New Frontier Data, more than 45 million Americans use cannabis each year.

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The culture war over marijuana is about to be settled, once and for all…in marijuana’s favor. Don’t leave money on the table. You need to invest in the mainstreaming of marijuana, LSD, “magic mushrooms,” and a slew of substances that are disrupting medicine and daily life.

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Editor’s Note: I’m holding a special investment Town Hall on November 1, called “The Marijuana Millionaire Countdown.”

As the U.S. midterm elections loom on the calendar, I’ll explain the little-known reason why federal legalization is on the near-term horizon…and why a slew of states are poised to create new state-legal markets.

During my online Town Hall, I’ll reveal the one simple marijuana trade that could dump piles of cash into your brokerage account, before the midterm votes are even counted. Click here to grab your free spot!

John Persinos is the editor-in-chief of Marijuana Investing Daily. You can reach him at: mailbag@investingdaily.com

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