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Featured Articles
Bermuda House of Assembly Approves Legislation to Legalize Cannabis
Bermuda’s House of Assembly has passed a cannabis legalization bill for the second time, sending it to the Governor for Royal Assent. The Cannabis Licensing Act of 2022, passed in an 18-6 vote, would establish a regulatory framework for the cultivation and sale of...
Cannabis stocks are hot ahead of a House panel hearing on a federal legalization bill
Investor optimism over the possibility of federal cannabis legalization has contributed to a strong rally in beaten-down pot stocks. The Alternative Harvest ETF has gained more than 10% in March, and its on pace for its best month since February 2021. The...
South Dakota: Governor Noem Vetoes Expungement Legislation
After signing legislation to protect limited home cultivation for patients and legislation to protect patients' rights, Governor Noem has chosen to veto legislation that allows the automatic removal of convictions from a person’s background check for marijuana-related...
How much THC can you legally eat or drink? – The EU sets the standard for cannabis-infused foods
How much cannabis can you put in a drink or food in Europe? The European Commission (EC), which is the regional unit charged with creating cannabis laws for all members of the EU, has finally released guidelines for the highest acceptable level of THC that can be...
Washington State Regulators and Lawmakers Push Cannabis Banking Amid Violent Dispensary Robberies
Amid a spike in armed robberies at cannabis shops that have resulted in at least three deaths, the Washington State Liquor and Cannabis Board (LCB) hosted a roundtable on Tuesday during which they discussed solutions at the state and federal levels. Speakers included...
Cannabis company that DEA is allowing to grow for research purposes to list shares on Nasdaq
Bright Green Corp., a Fort Lauderdale, Fla.-based company with conditional approval from the U.S. Drug Enforcement Administration (DEA) to produce federally legal cannabis, on Tuesday filed plans to directly list its shares for trading on the Nasdaq under the ticker...
Featured Articles
How Does Legal Weed Affect Banking Activity? News Study Has Answers
A new study examined how the legalization of cannabis at the state level affects deposits and lending activity of banks in legalizing states. After analyzing bank data over the course of several years, researchers have concluded that recreational cannabis legalization caused a spike in deposits and lending. Researchers collected data from more than 150,000 regulatory filings from banks across the country in states with legal marijuana between 2011 to 2016, finding a significant increase in deposits and lending after recreational cannabis was legalized. They found that in states with legal cannabis, bank deposits increased by 3% or 4% while bank lending increased from 6% to 8%, a small yet significant change. “We attribute this finding to either limited concern about the perceived riskiness of deposits surrounding cannabis legalization, or optimism that policies would be adapted to limit banks’ risks from regulatory uncertainty,” wrote the study’s authors.
Maria Loreto, The Fresh Toast, 01/25/2022 11:11:00
South Dakota: House Lawmakers Move to Repeal Citizen-Initiated Home Cultivation Rights
A majority of House lawmakers have advanced legislation, HB 1004, to repeal provisions from the state’s voter-approved medical cannabis law that permit qualified patients to home-cultivate personal use quantities of cannabis. House members decided by a vote of 41 to 29 to advance the legislation to the Senate for further consideration. The vote is simply the latest of many actions taken by lawmakers to undue voters’ actions on Election Day when they approved a pair of ballot initiatives legalizing marijuana for both medical and adult-use purposes. Following a legal challenge spearheaded by Republican Gov. Kristi Noem, justices on the state’s Supreme Court struck down the adult-use legalization measure as unconstitutional. The Governor’s office did not similarly challenge the medical marijuana vote. Nonetheless, lawmakers have made several efforts to weaken the voter-approved measure. Last year, House lawmakers voted to delay the law’s implementation; however, that effort failed when House and Senate lawmakers failed to come to an agreement on conflicting provisions in the bill. Then in September, a Study Committee recommended that legislators move to eliminate language from the law that permits patients to grow up to three marijuana plants.
NORML, 01/24/2022 19:00:00
Thailand becomes first country in Asia to decriminalize marijuana
Thailand on Tuesday became the first country in Asia to approve the de facto decriminalization of marijuana, though authorities have left a grey area around its recreational use. Health Minister Anutin Charnvirakul announced that the Narcotics Control Board had approved the dropping of cannabis from the ministry’s list of controlled drugs. The delisting by the ministry’s Food and Drug Administration will now need to be formally signed by the health minister and enters into effect 120 days after its publication in the government gazette. It follows the removal of cannabis — a plant species to which both marijuana and hemp belong — last month from the list of illegal drugs under Thailand’s Narcotics Law. Police and lawyers contacted by The Associated Press said it was unclear if possession of marijuana would no longer be an offense subject to arrest. A tangle of related laws means that production and possession of marijuana remain regulated for the time being, leaving the legal status of recreational marijuana use in a grey area.
420 Intel – Marijuana Industry News, 01/25/2022 19:00:00
Wisconsin Senate Republicans vote against recreational cannabis
Republicans in the Wisconsin Senate stopped an effort by Sen. Melissa Agard (D-Madison) to force a vote on legalizing the recreational use of cannabis. The Senate took up a bill Tuesday that would increase penalties for a person who uses a butane torch to extract resin from a cannabis plant. Agard introduced an amendment to the bill that, instead of making penalties harsher, would have completely legalized all uses of cannabis. Agard said she was introducing the amendment because if the goal of the bill is to increase public safety, then increased criminalization is not the direction to go — especially since most of Wisconsin’s neighboring states have legalized either medicinal or recreational use. Republicans in the Senate killed Agard’s effort by voting that the amendment was out of order and not “germane” to the initial bill. The original bill, without Agard’s amendment, passed on a 20-12 party-line vote.
420 Intel – Marijuana Industry News, 01/25/2022 19:00:00
Flaws in federal cannabis bills threaten the legal market
Flaws in proposed federal marijuana legislation threaten the legal cannabis market, especially failure to pause the Dormant Commerce Clause, say Shaleen Title, the distinguished cannabis policy practitioner in residence at the Ohio State University Drug Enforcement and Policy Center, and Andrew Kline, who co-leads the cannabis practice at Perkins Coie. They suggest some changes. Cannabis is gaining acceptance, with more than three dozen states and territories having legalized the plant in some form. Cannabis reform has widespread support nationally, with a recent Pew Research Center poll showing that 91% of Americans support legal recreational or medical marijuana use. And in response to popular demand, states are passing increasingly robust social justice policies providing equitable ownership opportunities, with New York Gov. Kathy Hochul (D) recently announcing a new $200 million fund to promote diversity among licensees in her state’s emerging legal marijuana industry.
420 Intel – Marijuana Industry News, 01/24/2022 19:00:00
Maine Medical Cannabis Task Force Pushes Back on Track-and-Trace Requirement
A medical cannabis task force has delivered its promised recommendations to Maine’s Office of Marijuana Policy: recommendations that are meant to assess the market’s current framework and suggest a helpful, accessible path forward. One major target of the task force’s work over the past few months? Seed-to-sale tracking. And, long story short, the task force has come out against the mandate of such a system. According to the Portland Press Herald, “the group soundly rejected the policy office’s previously proposed requirement that the medical market adopt a ‘track-and-trace’ product tracking system.” This has been a point of contention between Maine’s caregiver-led medical cannabis space and the policymakers charged with developing robust regulations to match the broader U.S. cannabis industry’s evolution. The task force—which includes cannabis business stakeholders and patients—concluded that the state’s tracking system should be required solely for licensed dispensaries. Caregivers, of whom the state counts around 3,000, would be given voluntary standing with the system, according to the task force’s proposal. Right now, the track-and-trace system is in place for the state’s relatively new adult-use market.
Posted Melissa Schiller, Cannabis Business Times, 01/26/2022 10:49:00
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Senators Urge Biden Attorney General To Respect Indian Tribes’ Marijuana Policies
A coalition of nine U.S. senators on Monday sent a letter to Attorney General Merrick Garland, urging him to direct federal prosecutors to not interfere with marijuana legalization policies enacted by Native American tribes. The letter, led by Sen. Martin...
New Mexico Signs Marijuana Agreements With Tribes Days Ahead Of Legal Sales Launch
Legal recreational cannabis sales begin in New Mexico this week, and two tribal communities are ready to jump into the industry. The Pueblos of Picuris and Pojoaque signed an intergovernmental agreement with New Mexico that allows them to regulate their own marijuana...
Maryland Senators Discuss Putting Marijuana Legalization On Ballot, Delaying Regulations Until Next Year, In Committee
Maryland senators on Monday signaled that they may follow the House’s lead by putting the issue of marijuana legalization on the state’s November ballot and delay creating comprehensive regulations for the market until next year after voters make their decision....
New York State cannabis office says ‘gifting’ weed is illegal, but prosecutors aren’t so sure
Last month, New York regulators made waves after sending cease and desist letters to more than 50 operators who were allegedly selling marijuana illegally. These “grey market” businesses have cited language in the new state cannabis law that allows “gifting” as a...
Virginia Republicans Call for Revisions to the State’s Adult-Use Cannabis Law
The legalization of recreational cannabis in Virginia could do wondrous things for the Old Dominion, where Senate Bill 391 was passed in a historic bipartisan vote on Feb. 16. However, before the commonwealth can generate the $1.3 billion that Headset analysts predict...
Mandatory pesticide testing begins April 2 for all cannabis products in WA
Protecting consumers from unhealthy products is key for cannabis growth worldwide Several years after Washington's legislature first discussed these requirements, the state has finally approved compulsory pesticide testing for all cannabis products produced and sold...
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