This is potentially big (and has gotten people quite excited), but it really depends on how certain things are defined.
Executive order dated today: Prohibition on Certain Federal Adoptions of Seizures by State and Local Law Enforcement Agencies
The tricky part:
“This order does not apply to (1) seizures by state and local authorities working together with federal authorities in a joint task force; (2) seizures by state and local authorities that are the result of joint federal-state investigations or that are coordinated with federal authorities as part of ongoing federal investigations…”
So yes, this is good news, but if it just means that local and state enforcement agencies will add a federal officer to the bust somehow in order to get around it, then I’m less excited.
I would much prefer to see an order abolishing equitable sharing (i.e., if feds adopt a seizure, then the locals and state get nothing).