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Congressman Says There’s ‘Tremendous Momentum’ To Pass Marijuana Banking In Bicameral Conference On Manufacturing Bill

Congressman Says There’s ‘Tremendous Momentum’ To Pass Marijuana Banking In Bicameral Conference On Manufacturing Bill

A key congressman involved in bicameral negotiations on a large-scale manufacturing bill says he’s optimistic about the prospects of including marijuana banking reform in the final version of the legislation that gets signed into law. Rep. Earl Blumenauer (D-OR), a longstanding champion of cannabis legalization who is serving as a conferee on the America COMPETES Act, talked about the state of play and steps he’s taking to secure the banking language during a press briefing on Monday. He said that there is a concerted effort among conferees in both chambers to make sure that the House-passed Secure and Fair Enforcement (SAFE) Banking Act is attached to the final conference report that’s sent to the president’s desk. And while Senate leadership has yet to cede the issue, he’s confident that the bicameral panel will seal the deal. “There is a strong base support among the conferees for keeping this [marijuana banking] language and enacting it,” he said. “We think that this is a perfect opportunity to get some actual movement on this.” “We’ve got a vehicle that needs to be acted upon relatively soon.

Kyle Jaeger, Marijuana Moment, 05/16/2022 16:51:00

Open article: https://www.marijuanamoment.net/congressman-says-theres-tremendous-momentum-to-pass-marijuana-banking-in-bicameral-conference-on-manufacturing-bill/

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Congressman Urges Transportation Department To Reform Marijuana Testing Policies For Drivers

Congressman Urges Transportation Department To Reform Marijuana Testing Policies For Drivers

U.S. Department of Transportation (DOT) policies on drug testing truckers and other commercial drivers for marijuana are unnecessarily costing people their jobs and contributing to supply chain issues, a congressman said in a letter to the head of the department on Monday. Rep. Earl Blumenauer (D-OR) cited DOT data showing that tens of thousands of drivers are being disqualified because of stringent drug screening policies around THC. He said that while nobody wants drivers impaired on the roads, there aren’t tests that can detect active impairment—so people are being penalized for using cannabis while off duty, days or weeks before they’re tested. “These disqualifications deny people the right to earn a living, reduce the workforce when drivers are desperately needed, and penalize people of color and patients who legally use medical cannabis,” he wrote. “This crisis must be treated with urgency.” The congressman told Transportation Secretary Pete Buttigieg that his department “should rapidly reform requirements for testing drivers and returning them to service, as well as develop an accurate test for impairment.”

Kyle Jaeger, Marijuana Moment, 05/16/2022 14:56:00

Open article: https://www.marijuanamoment.net/congressman-urges-transportation-department-to-reform-marijuana-testing-policies-for-drivers/

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Marijuana Legalization More Popular In Texas Than Governor, Biden And Other Officials, New Poll Finds

Marijuana Legalization More Popular In Texas Than Governor, Biden And Other Officials, New Poll Finds

Marijuana legalization is more popular in Texas than the state’s top elected officials and President Joe Biden, according to a new poll. The survey from the University of Texas at Tyler found that an overwhelmingly, bipartisan majority of Texans (83 percent) support medical cannabis legalization, and 60 percent said they’re in favor of recreational legalization as well. Support for medical marijuana reform crossed political lines, with 91 percent of Democrats, 74 percent of Republicans, and 85 percent of independents saying that patients should have legal access to cannabis. With respect to adult-use legalization, 76 percent of Democrats, 42 percent of Republicans, and 64 percent of independents said they back the policy change. The survey, which was released ahead of the state’s May 24 primary runoff elections, also asked residents about various political issues and their opinion of election officials and candidates. And the results demonstrate how marijuana reform is uniquely popular among adults in the Lone Star state. Both medical and recreational cannabis legalization is more popular than Gov. Greg Abbott (R) and Lt. Gov. Dan Patrick (R), whose approval ratings sit at 46 percent and 40 percent, respectively.

Kyle Jaeger, Marijuana Moment, 05/16/2022 11:46:00

Open article: https://www.marijuanamoment.net/marijuana-legalization-more-popular-in-texas-than-governor-biden-and-other-officials-new-poll-finds/

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Arizona Recreational Marijuana Sales Hit A New Record In March, State Reports

Arizona Recreational Marijuana Sales Hit A New Record In March, State Reports

“The legalization of cannabis in Arizona has been a boon for our economy and the state tax coffers.” By David Abbott, Arizona Mirror Medical marijuana sales in Arizona continued to slide in March, dropping for the fifth consecutive month as recreational adult-use cannabis sales soared to new heights. The Arizona Department of Revenue also revised February sales upwards by several million dollars. In March, medical marijuana dipped to below $50 million for the first time since recreational sales began in January 2021, registering just $49.4 million. Medical sales peaked at nearly $73 million in March 2021, then fluctuated from the mid-$60 millions for the next six months. Since October, medical marijuana sales have dropped by at least $1.5 million every month. Recreational sales have rebounded after a small lull in January 2022, going up at least $2 million per month in February and March, which totaled $72.3 million alone. Total sales for both programs in March were $121.8 million. State tax analysts also revised February sales: Estimated medical sales were adjusted upward by $1.2 million to $53.7 million, while adult-use cannabis sales clocked in at $2.3 million more than previously believed, landing at almost $71 million.

Marijuana Moment, Marijuana Moment, 05/16/2022 13:52:00

Open article: https://www.marijuanamoment.net/arizona-recreational-marijuana-sales-hit-a-new-record-in-march-state-reports/

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Cresco Labs Announces Expiration of HSR Act Waiting Period For Proposed Acquisition of Columbia Care

Cresco Labs Announces Expiration of HSR Act Waiting Period For Proposed Acquisition of Columbia Care

 Cresco Labs Inc. and Columbia Care Inc. announced the expiration of the 30-day waiting period under the Hart-Scott-Rodino Antitrust Improvements Act of 1976 (HSR Act) in connection with Cresco Labs’ previously announced proposed acquisition of Columbia Care. On March 23, 2022, Cresco Labs announced the execution of a definitive arrangement agreement to acquire all of the issued and outstanding shares of Columbia Care. Details of the Agreement can be found [here]. The closing of the transaction remains subject to the satisfaction of all remaining closing conditions in the agreement, including the Columbia Care shareholder vote. Both companies continue to work toward obtaining all required regulatory approvals. The end of the 30-day waiting period brings the company one step closer to completing a roughly $2-billion deal by the end of the year.

Posted Michelle Simakis, Cannabis Business Times, 05/16/2022 09:13:00

Open article: http://www.cannabisbusinesstimes.com/article/cresco-labs-hsr-act-waiting-period-acquisition-columbia-care

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The Michigan adult use market is one of the fastest growing cannabis markets in the United States

The Michigan adult use market is one of the fastest growing cannabis markets in the United States

A bright spot of the United States (US) cannabis industry has been the performance of Midwestern states that allow for the sale of recreational cannabis. Although we are favorable of the medical cannabis opportunity in the Midwest, recreational cannabis is becoming big business in several major US markets and we are bullish on the growth prospects that are associated with it. In April, the Illinois Department of Financial and Professional Regulations (IDFPR) reported more than $130 million in recreational cannabis sales. When compared to March, the state reported almost $1 million more of recreational cannabis revenue in April which is first time it reported more than $130 million of recreational sales in back-to-back months. According to data from Michigan, the state set a new record for cannabis sales in April and reported almost $200 million of cannabis purchases. Based on the state’s data, recreational cannabis accounted for approx. $168 million of sales while medical cannabis accounted for approx. $27 million of sales. (Technical 420) In late 2019, Michigan started to allow for the sale of recreational cannabis and we have been impressed with the amount of consumer demand for cannabis in the state since the start of the program.

420 Intel – Marijuana Industry News, 05/16/2022 20:00:00

Open article: https://420intel.com/articles/2022/05/17/michigan-adult-use-market-one-fastest-growing-cannabis-markets-united-states

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Whole Foods Exec Hints at Cannabis Sales

Grocery chain retailer Whole Foods Market has opened the door to the possibility of selling cannabis at a future date. During a panel conversation with The Texas Tribune, John Mackey, CEO of Whole Foods, an Amazon company, answered a question from an audience member...

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