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Marijuana lobby pushes Missouri lawmaker to cap number of licenses
A major seller of marijuana-infused chocolate bars and vape cartridges this week pushed the author of the so-called Cannabis Freedom Act to cap cannabis business licenses in his plan to fully legalize the drug, the lawmaker said. Rep. Ron Hicks, R-Defiance, sponsor of...
New Mexico cannabis industry divided over market saturation fears
Budtenders Sebastian Torrez left, and Hannah Renick sell products to customers at the Ultra Health cannabis dispensary at 7401 Menaul NE. (Roberto E. Rosales/Journal) Arizona had about 73 adult-use dispensaries licensed when recreational sales began at the start of...
Kanabo Launches eCommerce Platform to Help Improve Wellbeing of Millions of People
Kanabo, the UK medicinal cannabis company focusing on the development and distribution of cannabis-derived products for medical patients, is launching its eCommerce platform for wellness CBD consumers. The Kanabo. store will cater to the UK market initially and then...
Two Pueblos sign a deal with N.M. to begin selling legal marijuana. Will it keep feds at bay
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...
Zimbabwe Govt Offers New Guarantees and Incentives for Cannabis Investors & Establishes Green Industry Fund
Looks like Zimbabwe’s govt is loosening the reins to try and encourage investment Cannabiz Africa reports… Zimbabwe is offering international cannabis investors the option of owning 100% of their operations and the right to choose where in the country they would like...
NJ delays sales of recreational cannabis again, but approves first batch of companies
New Jersey residents hoping to buy marijuana at a dispensary without a medical card will have to wait a little longer. New Jersey cannabis regulators approved the first batch of businesses that will make up the state’s adult-use cannabis industry on Thursday, a cohort...
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U.S. Senate Candidate Smokes Marijuana Blunt In Campaign Ad About Harms Of Criminalization
A candidate seeking to represent Louisiana in the U.S. Senate released a campaign ad on Tuesday that puts marijuana front and center. Democrat Gary Chambers sits in an armchair in a field smoking a cannabis blunt and lists statistics about the harms of criminalization. The ad is titled “37 Seconds,” a reference to a research finding that police in the U.S. make a marijuana-related arrest every 37 seconds on average. “Black people are four times more likely to be arrested for marijuana laws than white people,” Chambers says. “States waste $3.7 billion enforcing marijuana laws every year. Most of the people police are arresting aren’t dealers, but rather people with small amounts of pot, just like me.” While marijuana hasn’t been legalized for adult use in Louisiana, possession of up to 14 grams was decriminalized last year and is now punishable by a $100 fine. And in New Orleans, where the ad was filmed, police recently announced that they would no longer be issuing citations over simple possession of cannabis alone. The governor also signed a bill last year to let patients in the state’s medical cannabis program legally smoke whole-plant marijuana flowers.
Kyle Jaeger, Marijuana Moment, 01/18/2022 10:57:00
Austin Lawmakers Approve Marijuana Decriminalization Initiative For May Ballot
The Austin City Council on Tuesday approved a proposal to put an activist-led initiative to decriminalize marijuana on the local ballot in May. Ground Game Texas successfully collected enough signatures to place the reform on the Austin ballot. The council had a chance to adopt it as an ordinance on its own without putting the issue to voters—which the advocates said they would have preferred—but lawmakers chose instead to simply authorize the initiative for the ballot. The proposal passed in a 7-3 vote. It was just this month that city officials certified petitions for the ballot initiative. Activists turned in more than 33,000 signatures for the measure—about 10,000 more than required to qualify for the May 7 election. On the same day of the local certification, Gov. Greg Abbott (R) said that he doesn’t believe people should be incarcerated over low-level marijuana possession. While Austin, as well as other Texas cities like Dallas, have already independently enacted law enforcement policy changes aimed at reducing arrests for cannabis-related offenses by issuing citations and summons, the ordinance adopted by the council would go a step further. The measure seeks to end arrests and citations for misdemeanor marijuana possession within Texas’s capital city.
Kyle Jaeger, Marijuana Moment, 01/18/2022 11:55:00
Newly Lobbying on Cannabis in New York: Real Estate Companies, MSOs, and More
As New York’s regulatory wheels start turning ahead of the expected 2023 launch of the state’s legal cannabis industry, multistate cannabis operators and companies with deep interests in real estate are registering to lobby on cannabis. Details of Gov. Kathy Hochul’s budget plan released on Tuesday show that the state estimates cannabis tax revenue will total about $1.25 billion over the next six years, reaching just over $360 million in cannabis tax revenue by fiscal year 2028. The budget also allocates $46 million to the Office of Cannabis Management, which will oversee the industry’s launch. TerrAscend, which has vertically integrated businesses in California, Pennsylvania, and just across the river in New Jersey, has registered to lobby on cannabis in New York, as did Kiva Brands, a major edibles company that got its start in California. Gotham Green Partners, which includes MedMen, iAnthus, Flow Kana, and 4Front in its portfolio, registered to lobby on “cannabis regulatory issues in NYS.” iAnthus minority shareholders (and Charles DeStefano as a minority shareholder) also registered to lobby. Real estate has already become an active conversation, especially considering New York’s law allows for onsite consumption spaces.
Alyson Martin, Cannabis Wire, 01/17/2022 19:00:00
Hemp industry pivots toward grain and fiber
After a brutal shake-out that chopped hemp acreage in half in two years, the industry is focusing on hemp as a source of grain and fiber, a less profitable but possibly steadier market than cannabinoid (CBD) oil, used in food, beverages and dietary supplements. Analysts say the unclear regulatory status of CBD has throttled sales. Growers rushed into industrial hemp following the legalization of the crop by the 2018 farm bill, attracted by reports of high revenue from hemp sold for processing into CBD oil. But the pandemic and a glut of hemp crushed wholesale prices. Licenses were issued for nearly 285,000 acres in 2021, down from as many as 466,000 acres in 2020 and more than 511,000 acres in 2019, when production was the highest ever, reported Hemp Industry Daily last fall. The Hemp Industry 2022 Opportunity Report said licensed acreage fell by 55% “to levels seen before the 2018 farm bill.” The 2014 farm law allowed hemp pilot and research programs. CBD prices fell below production costs but the “bright spot was the supply and demand for fibers and grain,” said the report. “We’re only at the beginning of the renaissance of hemp.”
420 Intel – Marijuana Industry News, 01/17/2022 19:00:00
Open article: https://420intel.com/articles/2022/01/18/hemp-industry-pivots-toward-grain-and-fiber
Kentucky marijuana legalization 2022: Kulkarni pushes to decriminalize cannabis
The decriminalization and legalization of marijuana in Kentucky will improve the state’s criminal justice system, Kentucky Rep. Nima Kulkarni said. The lawmaker gathered with other proponents of the initiative Monday to push for action on the issue during this year’s legislative session, WLKY reported. Kulkarni, who noted that Kentucky is currently among the 14 states that have neither decriminalized nor approved the adult use of marijuana, introduced House Bills 224 and 225 on Jan. 5. The former would decriminalize marijuana and expunge certain previous convictions related to the substance, while the latter would allow anyone aged 21 or older to possess, use, buy or sell up to an ounce of cannabis without criminal penalties. “You can’t have one without the other, and I have been very clear that I am not going to sign onto legalization legislation if we don’t include decriminalization,” Kulkarni explained. The lawmaker believes that legalizing marijuana would “drastically” improve her state’s “overwhelmed” criminal justice system, according to the WLKY report. “We are wasting our time enforcing a law that should have never existed in the first place,” Sheri Ray, a former corrections officer turned advocate for criminal justice and drug policy reforms was quoted as saying.
420 Intel – Marijuana Industry News, 01/18/2022 19:00:00
Cannabis banking is booming despite federal uncertainty
Small banks are gaining confidence Cannabis companies may not be able to work with the JPMorgan Chases and Citigroups of the world anytime soon, but that hasn’t stopped small banks from flooding into the space. On the surface, it would seem that the industry’s prospects for being able to bank like normal companies have taken a hit. U.S. Representative Ed Perlmutter of Colorado, the biggest supporter of legislation that would liberalize rules for cannabis banking, just announced his retirement. The SAFE Banking Act he backed stalled late last year. Meanwhile, Visa Inc. sent a memo to banks saying that so-called cashless ATMs — a workaround used by some dispensaries to avoid dealing in cash — weren’t copacetic. But those who specialize in helping financial institutions work with cannabis companies say that may all be moot: The number of credit unions and state-chartered banks venturing into the industry has been quietly accelerating. “In the early days, no banks were willing to do this,” said Peter Su, a senior vice president at Green Check Verified, which offers software to banks that help them deal with the added regulatory burdens of working in cannabis.
420 Intel – Marijuana Industry News, 01/17/2022 19:00:00
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U.S. Senate Unanimously Approves Marijuana Reform Bill On Same Day That House Schedules Legalization Vote
The Senate on Thursday unanimously approved a marijuana bill—but not the federal legalization measure that advocates have been eagerly awaiting Senate Majority Leader Chuck Schumer (D-NY) to bring to the floor. Rather, it’s a modest bipartisan piece of legislation...
Missouri Bill Would Let Voters Mandate More Oversight On Medical Marijuana Revenue Distribution To Veterans
A Colorado House committee on Thursday defeated a bill that was originally meant to provide protection for workers who use marijuana off the job and allow medical cannabis patients to use their medicine at work—even after significantly scaling the legislation back to...
Colorado Lawmakers Reject Marijuana Consumer Employment Protection Bill Even After Gutting Its Main Provisions
A Colorado House committee on Thursday defeated a bill that was originally meant to provide protection for workers who use marijuana off the job and allow medical cannabis patients to use their medicine at work—even after significantly scaling the legislation back to...
Tragedy strikes campaign to legalize medical marijuana in Nebraska
A string of tragic events has left a citizen-led campaign to legalize medical marijuana in Nebraska in search of donations. Nebraskans for Medical Marijuana lost two individuals who were expected to make a major contribution to the current legalization campaign. One...
South Dakota picks Metrc to monitor growth, sales of legal cannabis
A New York-based software company will help South Dakota’s cannabis industry and its regulators monitor the flow of marijuana in the state’s legal market. The Department of Health this month finalized a contract with Metrc, which will provide exclusive seed-to-sale...
Mixing medical mushrooms and cannabis for cancer care
Can cannabis cure breast cancer? Not yet, unfortunately. But according to Herzliya-based startup Cannabotech, when paired with medical mushrooms cannabis may one day be able to reduce the number of chemotherapy patients need to take. “We know that patients need a...
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