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MLB to remove marijuana from list of abuse drugs, test for opioids, cocaine

Photo: Alex Trautwig/MLB Photos via Getty Images

Major League Baseball announced on Thursday plans to remove marijuana from its list of drugs of abuse, instead treating it the same as alcohol, ESPN reports.

But, but, but: The league will begin testing for opioids and cocaine, but only players who refuse to cooperate with treatment plans will be subject to disciplinary action. Testing was previously limited to performance enhancing drugs and prohibited stimulants.

Between the lines: Considerations for opioid testing began after Los Angeles Angels pitcher Tyler Skaggs died following the consumption of a mix of alcohol, fentanyl and oxycodone, per ESPN.

  • Easing marijuana rules also had some notable motives: "Moves by some states to legalize marijuana use factored into the change," ESPN notes.

Go deeper: MLB's plan to overhaul its minor league system

Go deeper

Courtenay Brown
4 mins ago - Economy & Business

Trading platforms curb trading on high-flying Reddit stocks

Major trading platforms including Robinhood, TDAmeritrade and Interactive Brokers are restricting — or cutting off entirely — trading on high-flying stocks like GameStop and AMC Entertainment.

Why it matters: It limits access to the traders that have contributed to the wild Reddit-driven activity of the past few days — a phenomenon that has gripped Wall Street and the country.

Go deeper (1 min. read)Arrow
Courtenay Brown
Updated 46 mins ago - Economy & Business

2020 was the economy's worst year since 1946

Source: FRED; Billions of chained 2012 dollars; Chart: Axios Visuals

One of the last major economic report cards of the Trump era lends perspective to the historic damage caused by the pandemic, which continued to weigh on growth in the final quarter of 2020.

By the numbers: The U.S. economy grew at a 4% annualized pace in the fourth quarter, a sharp slowdown in growth compared to the prior quarter. For the full year, the economy shrank by 3.5% — the first annual contraction since the financial crisis and the worst decline since 1946.

Go deeper (1 min. read)Arrow
Dion Rabouin, author of Markets
2 hours ago - Economy & Business

How GameStop exposed the market

Illustration: Eniola Odetunde/Axios

Retail traders have found a cheat code for the stock market, and barring some major action from regulatory authorities or a massive turn in their favored companies, they're going to keep using it to score "tendies" and turn Wall Street on its head.

What's happening: The share prices of companies like GameStop are rocketing higher, based largely on the social media organizing of a 3-million strong group of Redditors who are eagerly piling into companies that big hedge funds are short selling, or betting will fall in price.

Go deeper (2 min. read)Arrow