alt Hacker NewsOk, Malört is the name of an alcoholic beverage. It is unclear to me why a liquid would be called a "princess" but maybe it reflects the jargon of aficionados.
Malört was introduced in Chicago in the 1930s and was long produced by the Carl Jeppson Company. In 2018, as its last employee was retiring, the brand and company name were sold to CH Distillery of Chicago's Pilsen neighborhood. Jeppson's Malört is named after Carl Jeppson, a Swedish immigrant who first distilled and popularized the liquor in Chicago. Malört (literally moth herb) is the Swedish word for wormwood, which is the key ingredient in bäsk. Malört is extremely low in thujone, a chemical once prevalent in absinthe and similar drinks.
It's a reference to the Chappell Roan album "The Rise and Fall of a Midwest Princess" which has been a smash hit this summer.