Cannabis advocates were dealt a setback in Delaware, where the state senate on Tuesday failed to override a veto by Gov. John Carney of a marijuana legalization measure, according to a report from Marijuana Moment. HB 371 would have legalized possession and gifting of cannabis. Karen O’Keefe, state policies director for the Marijuana Policy Project, told the publication that cannabis prohibition will “almost surely” continue in Delaware until a new governor is elected in 2025. Cannabis stocks in the U.S. have been moving into the red all year on lack of federal movement on legalization. The AdvisorShares Pure US Cannabis ETF is down 44.9% in 2022 and off by 65.6% in the last 12 months.
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