While the DEA did not outright attribute recreational marijuana legalization to the decrease in trafficked weed over the U.S. border, there is certainly a connection to be made. The United States and Mexico border has made front-page news daily for nearly a decade for all sorts of reasons. Whether it is building an expansive border wall, or major immigration policy issues — or even the ever-evolving problems of drug smuggling — there is always something critical to report on this 1,954-mile-long imaginary line. Recently, however, there has been a shakeup in one of the U.S. and Mexican border’s previously-biggest talking points: marijuana trafficking. Only a decade ago, Mexico was smuggling a significant amount of the marijuana consumed by Americans, according to the DEA. Now it appears as though marijuana smuggling into the United States is decreasing, while Mexico is seeing an increase of American-made pot entering its side of the border. The DEA released a new report, stating that, “in U.S. markets, Mexican marijuana has largely been supplanted by domestic-produced marijuana.” This is a major shift from the days when the vast majority of marijuana was coming into the United States from Mexico.

Tom Gaffey, The Fresh Toast, 04/19/2022 12:00:00

Open article: https://thefreshtoast.com/news/marijuana-trafficking-is-changing-at-us-mexico-border-heres-how/#utm_source=rss&utm_medium=rss&utm_campaign=marijuana-trafficking-is-changing-at-us-mexico-border-heres-how

The sponsor of a bipartisan bill to protect banks that work with state-legal marijuana businesses sent a letter to Senate leadership on Tuesday, imploring the chamber to action on the reform on the one-year anniversary of the House’s latest passage of the measure in standalone form. Rep. Ed Perlmutter (D-CO) wrote that not only is cannabis banking reform an urgent public safety necessity, but passing his Secure and Fair Enforcement (SAFE) Banking Act could also serve as a legislative “icebreaker” for the type of broader reform that Senate leaders have been working on. The letter was addressed to the sponsors of a wide-ranging marijuana legalization bill that’s being finalized by Senate Majority Leader Chuck Schumer (D-NY), Finance Committee Chairman Ron Wyden (D-OR) and Sen. Cory Booker (D-NJ), as well as Banking Committee Chairman Sherrod Brown (D-OH). Read my letter to @SenSchumer, @CoryBooker, @RonWyden & @SenSherrodBrown ➡ https://t.co/KzlOe8G5Vc We cannot let our fight for comprehensive cannabis reform stall progress this year to the detriment of thousands of state-legal businesses, employees & safety of our communities.

Kyle Jaeger, Marijuana Moment, 04/19/2022 13:18:00

Open article: https://www.marijuanamoment.net/congressman-urges-senate-to-pass-marijuana-banking-bill-as-icebreaker-to-broader-reform/

The nation’s marijuana industry has boomed during the pandemic. So far, 2022 is looking like a bust. Weed sales hit $27 billion last year, nearly doubling figures from just two years earlier — and revenues are projected to double again over the next six years. Even pot supporters in Congress seemed well-positioned to dismantle decades-old restrictions. But the still-green industry is mired in a financial funk: Stock prices have plummeted. Capital raises have crashed. And marijuana prices have slumped. “There’s a lot of assets just not worth anything, so they’re just going to go away,” said Morgan Paxhia, co-founder of pioneering cannabis investment firm Poseidon Asset Management. “We’re seeing defaults picking up; we’re seeing businesses shuttering.” While a new glut of semi-legal weed has helped sink prices, industry executives and investors say the lack of progress on federal marijuana legislation is the single biggest factor driving the sector’s economic downturn — and it’s unclear when their odds will improve. After Democrats won total control of the federal government in 2021, optimism swept the industry that Congress and the Biden administration would loosen restrictions on the drug and make it easier to run a profitable business.

Politics, Policy, Political News – POLITICO, 04/19/2022 20:00:00

Open article: https://www.politico.com/news/2022/04/20/weed-cannabis-sector-financial-00026359

On April 20, more attention than usual is paid to the power of cannabis. And, already, in states like Connecticut, where an adult-use market has been given the green light by voters, cannabis gets a lot of attention. Adult-use sales are expected to begin later this year, which will amp up the excitement. For now, though, what’s needed to get a market like that off the ground? Reporter Matt Grahn at The Bulletin put that question to regional business owners.  Long story short: Capital is being raised, and capital is being spent to acquire real estate and get facilities up and running.“In terms of investing in these facilities, we’re going to be pumping $10 million to $15 million into Norwich,” Jason Webski, the CEO of Sweetspot Farms, told Grahn. “That’s not just investing in the real estate; that’s local contractors. It stimulates the economy in many ancillary ways.” The Sweetspot Farms team is seeking a cultivation license in the small city of Norwich. Just recently, Norwich aldermen revised the city’s zoning ordinances to allow “plant-based” manufacturing—specifically paving the way for just such a business as what Sweetspot Farms brings to the table. 

Cannabis Business Times, 04/20/2022 13:25:00

Open article: http://www.cannabisbusinesstimes.com/article/connecticut-adult-use-market-preparations-licenses

Members of a key House committee on Tuesday backed a plan to fully legalize marijuana, propelling the measure to the full Missouri House for debate. The House Rules Committee voted 6-4 to keep alive the so-called Cannabis Freedom Act, which would require the state to issue twice as many marijuana business licenses as were issued under the medical program. The action Tuesday sets up a possible debate before the full House in the near future. Four weeks remain before the Legislature’s annual session ends. If the plan clears the House, the Senate would need to act before May 13 to send the legislation to Gov. Mike Parson. Rep. Phil Christofanelli, a St. Peters Republican who chairs the House Rules Committee, said Tuesday he had “grave concerns” about the Cannabis Freedom Act as drafted. “I think there needs to be additional testing of the cannabis in the marketplace,” Christofanelli said. “I think there need to be reasonable limits placed on possession and grow facilities.” Rep. Ron Hicks, R-Defiance, who is sponsoring the plan, said he understood Christofanelli’s concerns, “, especially with the testing side of that.” “We do need to add that to this legislation,” Hicks said.

Jack Suntrup, stltoday.com | the #1 St. Louis website, 04/20/2022 00:04:00

Open article: https://www.stltoday.com/news/local/marijuana/marijuana-legalization-advances-in-missouri-house/article_b8a65732-20db-5b46-8666-61ad686966b1.html