$2 Trillion Disappears Because of Fed's Secretive New Move

$2 trillion has disappeared from the US government's books. The reason why is a new, secretive move being carried out by the Fed that has nothing to do with lowering or raising interest rates. According to Dan Ferris, you should consider moving money to a unique "escape" investment right away.

South Dakota's Adult-Use Cannabis Legalization Ballot Sparks Major Funding Race

Patricio Liddle
November 03, 2024

In a neck-and-neck financial race, both proponents and opponents of South Dakota’s adult-use cannabis legalization initiative have amassed nearly equal funds, setting the stage for a heated debate ahead of the November 5 ballot. Campaign contributions have surged from both sides, raising a total of about $915,000, which highlights the state’s sharply divided stance on this issue.

Key Donors Fuel South Dakota's Legalization Debate

Proponents of the marijuana legalization ballot measure, Initiated Measure 29, have amassed approximately $458,000 in contributions, largely fueled by the cannabis industry, according to the South Dakota Searchlight. The principal proponent, Yes on 29 Ballot Committee, reported taking in $436,000, with about $300,000 stemming from businesses within the cannabis sector. The largest donation, $100,000, came from GL Partners Inc., a medical marijuana dispensary in Rapid City.

  • Get Benzinga’s exclusive analysis and the top news about the cannabis industry and markets daily in your inbox for free. Subscribe to our newsletter here. If you’re serious about the business, you can’t afford to miss out.

On the opposing side, the Protecting SD Kids Ballot Question Committee has raised a comparable $457,000, with a significant portion coming from individual donors. Brad Wheeler, a local manufacturer, made the largest individual contribution of $61,400. Contributions from South Dakota-based businesses also played a crucial role, adding $71,000 to the opposition’s fund.

Competing Sides Ramp Up Spending Efforts

This financial tug-of-war underscores the intensity of the debate surrounding Initiated Measure 29, which proposes to legalize the possession, use and distribution of up to 2 ounces of marijuana for adults over 21. It is one of seven statewide ballot questions that South Dakotans will decide on.

Both campaigns have been active in leveraging their funds. The Yes on 29 committee has already spent $217,000 on various advocacy efforts, while the opposition has expended $371,000 in activities aimed at curbing the measure’s passage.

Read Also: North Dakota Ad Campaign Backs Adult Use Cannabis Legalization, Eyeing Economic Gains

Campaign finance reports reveal that the cannabis industry’s investment in legalization efforts continues to be a significant factor in ballot measures across the U.S. Meanwhile, grassroots donations and local business support remain pivotal for those opposing such measures.

As the campaign enters its final days, the nearly even financial playing field suggests a tight race to the ballot box. Both sides are ramping up their efforts to sway voters, knowing that the outcome could have far-reaching implications for marijuana policy in the state.

Economic Gains Drive Cannabis Debate Nearby

Neighboring states North Dakota, Nebraska and Montana each reflect a variety of approaches to cannabis reform that influence South Dakota's own legalization debate. While Montana reaps substantial tax revenue from legalized cannabis – over $118 million in two years – North Dakota is eyeing similar gains through Measure 5, targeting economic benefits and job growth. Nebraska, however, remains without legalization efforts, underscoring regional divides on cannabis reform as states weigh economic advantages against conservative values.

With no cap on donation amounts, South Dakota's marijuana legalization debate signals a high-stakes vote next week.

Read Next:

  • Cannabis Stocks Sink Amid Broader Market Decline And Election Jitters

Image created with AI tools.

Continue Reading...

Popular

In this Florida school district, some parents are pushing back against a cell phone ban

TALLAHASSEE, Fla. (AP) — It’s no surprise that students are pushing back on cell phone bans in classrooms. But school administrators in one South Florida county working to pull students’ eyes away from their screens are facing some resistance from another group as well – parents.

AP VoteCast: Voters who focused on the economy broke hard for Trump

WASHINGTON (AP) — President-elect Donald Trump tapped into deep anxieties about an economy that seemed unable despite its recent growth to meet the needs of the middle class, according to AP VoteCast, a sweeping survey of more than 120,000 voters nationwide.

The No. 1 Gold Play for 2025 - Ad

Everything is lining up perfectly for a historic gold bull run. One gold expert says he's found the best way to get in, for just $6.

Trump's Historical Hiccup: A Tale Of MyPillow Guy Mike Lindell, Al Capone, And Confusion

Trump delivered a disjointed speech that included a bizarre tale about Mike Lindell and Al Capone, leaving the crowd puzzled but urging supporters to vote.

Elon Musk: Without This Company, "Civilization Will Crumble" - Ad

Did you know that there's an investment that will give you the opportunity to collect "royalties" every time Nvidia makes a chip? Ex-Wall Street CEO Dylan Jovine calls this "the easiest windfall from the AI revolution." Even ChatGPT founder Sam Altman says AI depends on this company's work...

Marijuana Capital Markets: Bright 2025 Outlook Amid Regulatory Shifts

Federal reform and banking access may drive cannabis capital markets in 2025. Discover why upcoming election changes could boost the industry.

Single Stock Blueprint Available Now - Ad

Market Wizard Larry Benedict is one of the most successful traders you'll ever meet...But he doesn't make money the traditional way. In short: It's a way to trade just one stock...And potentially make all the money you need to fast-track your retirement -- no matter what happens in the stock market.

Kamala Harris Urges Change At Ellipse Rally: 'Time To Turn The Page On Drama And Conflict'-- Slams Trump For Jan. 6 Riots

Vice President Kamala Harris addressed an estimated crowd of 75,000 at the White House Ellipse, calling for a new political era beyond Trump, emphasizing unity, economic reform, and her vision for a potential presidency.

Wavebot: The Automated Trading Tool for This Bull Market - Ad

October through December are historically among the most bullish months for crypto. WaveBot -- an automated trading tool that takes all the guesswork out of profiting in crypto. It trades key levels, buying dips and selling at the perfect time, 24/7. All you need to do is set it up. After that, WaveBot takes care of everything.

Elon Musk Want His 11 Kids, Their Mothers To Live In Secret Compound He Bought, New Report Says

Elon Musk could be building a new family compound made up of several mansions to house his children and their mothers, according to a new report.

Nuclear Stocks Are Tumbling Monday: What's Going On?

Nuclear stocks are trading lower across the board on Monday after regulators rejected Talen Energy Corp's (NASDAQ:TLN) plans to increase power for an Amazon.com Inc (NASDAQ:AMZN) data center.

America's Enemies Set to Unleash -- WFD -- Weapon of Financial Destruction - Ad

In the coming months, America will face a weapon unlike any other -- a Weapon of Financial Destruction (WFD). Our enemies are ready to use it to collapse our economy, freeze our financial systems, and ruin the lives of millions. But this didn't come out of nowhere -- it's all part of a greater plan that was foretold in ancient prophecy.

Wendy's closing 140 more restaurants as part of push to update its locations

Wendy’s plans to close 140 U.S. restaurants before the end of this year on top of the 100 it said it would close in May.

Bakery That Often Predicts Election Outcomes Has This Candidate Winning In Trump, Harris Battle: 'Doughmacracy For All!'

A small Ohio bakery has predicted the outcome of 9 of the last 10 presidential elections using cookies. Here's who the bakery current predicts to win the 2024 election.

Is This Nvidia's Secret Weapon? - Ad

You've likely heard about Nvidia's incredible success in AI. But without this startup's technology, Nvidia's groundbreaking AI chips simply wouldn't be possible. It's still flying under the radar. That could change very soon with a major announcement on the horizon.

Michigan Pension Fund Invests $10M In Ethereum ETFs, Exceeds Bitcoin Holdings

The Michigan State Pension Fund has invested $10 million in Grayscale's Ethereum ETFs (NYSE:ETHE), making it one of the top holders of the product.

One Tech Tip: How to prepare your online accounts in case you die

LONDON (AP) — Most people have accumulated a pile of data — selfies, emails, videos and more — on their social media and digital accounts over their lifetimes. What happens to it when we die?

Proof Gold Could Hit $3K in 2025 - Ad

Stansberry Research just released a brand-new warning for what they believe will happen to gold in 2025. Even the most prepared Americans - including many retirees - could be blindsided by what's about to happen.

Researchers say an AI-powered transcription tool used in hospitals invents things no one ever said

SAN FRANCISCO (AP) — Tech behemoth OpenAI has touted its artificial intelligence-powered transcription tool Whisper as having near “human level robustness and accuracy.”

AST SpaceMobile Stock Is Rising After Hours: What's Going On?

AST SpaceMobile shares are trading higher in after hours Wednesday after the company announces it secured an initial contract with the Space Development Agency as a prime government contractor.

Seven Unknown AI Stocks That Could Dominate the Next Six Years - Ad

The original "Magnificent Seven" stocks generated 16,800% over the last 20 years. But now a new set of AI stocks is set to take over. Alex Green dubs them "The Next Magnificent Seven." And he's arguing that just $1,000 in each could turn into more than $1 million in less than six years.

Joe Rogan Refutes Rumors Of YouTube 'Censoring' Trump Podcast Episode: 'It Should Be Fine Now'

Popular podcast host Joe Rogan has put to rest speculations that YouTube had suppressed an episode featuring former President Donald Trump.

Bill Gates' Mysterious New AI Project Revealed - Ad

Tech expert Jeff Brown uncovers Bill Gates' latest AI project, Stargate, which Forbes claims could reshape everything we think we know about our world.

Trump's Fortune Skyrockets With $4B Stake In Trump Media & Technology Group

The net worth of former President Donald Trump has seen a significant increase, largely attributed to his $4 billion stake in the Trump Media & Technology Group.

Palantir Q3 Earnings On Deck As Cathie Wood Cuts Stake (UPDATED)

Palantir Technologies (PLTR) reports Q3 earnings on Monday. Wall Street expects 9 cents EPS and $701.13M in revenue, Cathie Wood offloads shares ahead of earnings, stock is up 126.11% over the past year.

What Trump 2025 Means for Military Stocks - Ad

A recently tested new superweapon could defeat China and restore our nation's global dominance... And I predict it could send 5 military stocks soaring. But it gets much bigger... This one controversial move by President Trump could make this wealth-building opportunity bigger. You will not want to miss out this time.

Jobs report on eve of election will be among the most distorted in years

WASHINGTON (AP) — Four days before Election Day, the government will issue its final snapshot of in the United States after a presidential race in which voter perceptions of the economy have played a central role.

Colorado teen fights kidney failure after eating McDonald's Quarter Pounders

A 15-year-old high school freshman is hospitalized with severe complications of food poisoning after eating McDonald’s Quarter Pounder hamburgers three times in the weeks before was detected.

Costco Gold Mania - Ad

They sell out "within a few hours" of going online, says Costco's CFO. And more than 77% of Costco stores have completely sold out as well. Despite the clear mania in gold... according to the gold experts at Stansberry Research, there's an EVEN BETTER way to invest in gold, without rushing to Costco to buy gold bars.

A New York City law used to padlock suspected illegal pot shops is ruled unconstitutional

A law that New York City has relied on to padlock scores of suspected unlicensed marijuana shops is unconstitutional because it violates the rights of store owners, a judge ruled Tuesday.

A promising schizophrenia drug showed mixed results. What does that mean for patients?

Some people who took a new schizophrenia drug for a year improved with only a few side effects, but many dropped out of the research, the company announced Thursday.

New "Living Missile" to Replace Nuclear Missiles - Ad

CBS News Reports: "It's an entirely new type of weapon." The New York Times Reports: "No existing defense can stop it." And one small company is building them for the Pentagon!

DeSantis Faces Backlash For Using Opioid Settlement Funds On Anti-Cannabis Campaign

State law stipulates the opioid settlement trust fund is meant to "abate the opioid epidemic" and provide resources for affected communities.

Trump Slams Cuban Over 'Strong Women' Remarks: 'He's Weak Physically And Mentally'

Donald Trump lashed out at former supporter Mark Cuban for his comments implying that Trump shies away from "strong, intelligent women."

Shocking Footage from Bill Gates' $100 Billion AI Project - Ad

Jeff Brown flew to Wisconsin to witness Bill Gates' $100 billion AI project firsthand. What he uncovered will blow your mind!

$1000 Invested In This Stock 15 Years Ago Would Be Worth $14,000 Today

This has outperformed the market over the past 15 years by 7.01% on an annualized basis producing an average annual return of 18.98%.

Trending Now

Information, charts or examples are for illustration and educational purposes only and not for individualized investment management This message contains commercial elements, such as advertising. We only send these offers to those who have opted in to our newsletter. Past performance is not indicative of future results. For these reasons we strongly suggest trading in a DEMO/Simulated account. The information provided by us is for educational and informational purposes only. We make no representations or warranties concerning the products, practices or procedures of any company or entity mentioned or recommended and have not determined if the statements and opinions of the advertiser are accurate, correct or truthful. If you use, act upon or make decisions in reliance on information contained or any external source linked within it, you do so at your own peril and agree to hold us, our officers, directors, shareholders, affiliates and agents without fault.

Copyright technicaltrading.org
Privacy Policy | Terms of Service