CULTIVATED: Layoffs hit Canndescent, KPMG rakes in millions from cannabis companies, and more.
On the policy front, all eyes were on a certain committee hearing on Capitol Hill. Not impeachment — though yes, I imagine just a few people watched that — but a separate hearing the House Judiciary Committee held on Wednesday regarding the MORE Act, a far-reaching cannabis legalization bill.
The bill, which would remove cannabis from the Controlled Substances Act, effectively legalizing the drug, is the most comprehensive cannabis bill ever debated in Congress. While it passed the committee 24-10, its prospects in the Republican-controlled Senate are dim at best.