On the early edition of Balance of Power,  Bloomberg Washington Correspondents Joe Mathieu and Kailey Leinz discuss the extension of the ceasefire between the US and Iran, a win for Democrats as Virginia voters back their redistricting plan, and reporting that the White House may move to reclassify marijuana. On today's show Bloomberg Intelligence Senior Defense Research Analyst Wayne Sanders, Bloomberg Intelligence Senior Government Analyst Nathan Dean,  Harvard Kennedy School Ash Center Visiting Democracy Fellow Jeanne Sheehan Zaino, Partner at Stonecourt Capital Rick Davis, and Democrat Congressman from Rhode Island Seth Magaziner.