While millions of dollars are flowing to the five states where cannabis will be on the ballot on Election Day, the money spent on federal cannabis lobbying by cannabis-focused entities continues to decline. A Cannabis Wire analysis of lobbying disclosures by cannabis-focused companies or groups for the third quarter of 2020 shows, a total spend of approximately $1.24 million. Last year was the peak of lobbying disclosures driven by the momentum of the SAFE Banking Act in Congress. Furthermore, spending is likely to rise again when the COVID-19 pandemic is over. The outcome of the U.S. presidential election will also play a role in future spending too.
Nushin Rashidian, Cannabis Wire, 10/20/2020 20:00:00