Marijuana ETF Boosted by Altria, Cronos Cannabis Rumor

The midterm election results went as political analysts planned with the Democrats gaining majority in the House of Representatives, while the Republicans maintained control of the Senate. Analysts posit that a more Democratic House would offer the least path of resistance for further marijuana-related legislation, such as the SAFE Act and STATES Act.

On Election Day, three of four states successfully passed cannabis-related legislation. Michigan became the 10th state to legalize recreational marijuana, joining Washington, Oregon, California, Nevada, Colorado, Maine, Vermont, Massachusetts, Alaska.

“The sources asked not to be identified because the matter is confidential. Altria did not immediately respond to a request for comment, while Cronos declined to comment,” reports Reuters.

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