California Gov. Gavin Newsom has signed 10 new cannabis bills into law ranging from SB 1326 to create a basis for interstate cannabis transactions with entities outside California, to SB 1186, which will grow patients’ access to legal cannabis. AB 1706 will seal old cannabis-related convictions and AB 2188 aims to protect against employment discrimination based on use of cannabis while away from the workplace. The measures also included AB 1885 to allow veterinarians to recommend cannabis for pets. Newsome signed the bills on Sunday, the statement said. The AdvisorShares Pure US Cannabis ETF is down 59% in 2022, compared to a 26.8% drop by the Nasdaq .

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.