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Featured Articles
Congressional Researchers Highlight Growing Federal-State Marijuana ‘Policy Gap’ In New 100-Page Report
The gap between federal and state marijuana policies continues to widen and shows no signs of stopping, congressional researchers said in a new report that also lays out options for how lawmakers could address the growing schism. The Congressional Research Service...
Biden Issues First Pardons To Those With Federal Cannabis And Drug Convictions
President Joe Biden has finally granted clemency to dozens of individuals with non-violent federal drug convictions and commuted the sentences of 75 people who were serving time at home because of the pandemic. He also issued three pardons....
Virginia Redefines THC to Ban Delta-8 Last Minute
The subject of delta-8 and the cannabinoids market is an extremely controversial one, and different groups have their own take on the legality of the situation. Individual states have been instituting their own policies to allow or ban the substances; and such is the...
Ballot measure for recreational cannabis in Missouri claims 200,000+ signatures
Cannabis advocates in Missouri who want the state to become the next to legalize cannabis for adult use have reached a new milestone in their ballot drive with two weeks to spare. Legal Missouri 2022, a group petitioning to put recreational cannabis on the ballot,...
Raleigh N.C. Bank Tries To Carve Niche In Serving Cannabis Industry
North Carolina is one of 13 states that have no legal avenue for the use of medical marijuana, much less the sale and distribution of recreational cannabis. That hasn’t deterred a 100-year-old Raleigh bank, West Town Bank & Trust, from launching last...
Cleveland to Expunge Cannabis Convictions
Officials with the city of Cleveland have filed motions to expunge cannabis convictions of more than 4,000 people. The convictions are for possession of 20 grams or less, dating back to 2017. If considered a minor misdemeanor, cannabis possession won’t create a...
Featured Articles
Maryland Lawmakers Approve Millions In Funding To Implement Marijuana Legalization If Reform Is Enacted
A key Maryland House committee advanced a Senate-approved budget bill last week, adding new amendments that would allocate tens of millions of dollars in funding to implement marijuana legalization with the expectation that the reform will ultimately be enacted this year. The House Appropriations Committee cleared the amended legislation on Friday. It would provide about $52 million to support the implementation of cannabis legalization, facilitate expungements for prior cannabis convictions and fund a “disparity study” to “better understand the barriers to entering the cannabis market.” This comes one month after the full House of Delegates separately passed bills to put marijuana legalization on the state’s 2022 ballot and set initial rules if voters approve the reform in November. All of the funding that the Appropriations Committee proposed setting aside for cannabis reform implementation is contingent on the enactment of the latter bill, HB 837. Del. Luke Clippinger (D) is sponsoring both measures and said last month that lawmakers are “at the beginning of an important process.” His bills are scheduled for a Senate Finance Committee hearing on Wednesday.
Kyle Jaeger, Marijuana Moment, 03/21/2022 15:59:00
New York cannabis regulations are in limbo. But the pot industry is booming on reservations.
The proliferation of the shops has beaten New York’s own plans to open dispensaries after the state Legislature legalized recreational marijuana last year. State officials said it is legal for the tribes across New York to sell marijuana before regulators have adopted their own rules because the tribes have sovereignty. Therefore, tribal governments have been able to develop and implement their own rules and regulations around retail sales and cultivation of marijuana, outpacing the statewide plans and reaping the financial benefits. New Yorkers on the other hand must wait until the state finishes developing regulations in the Marijuana Regulation and Taxation Act — with regulated sales expected before year’s end. “There’s a considerable amount of money to be made in the industry, especially with New York lagging behind,” tribal lawyer Lee Redeye said. But doing so has raised a series of questions about how the tribes are procuring the marijuana, how it may ultimately be regulated, and whether the tribes could have to reach a compact with New York to tax sales. For many in Western New York, the Seneca reservation is the closest place to purchase legal weed, far from other legal destinations like Massachusetts or Canada.
Politics, Policy, Political News – POLITICO, 03/18/2022 20:00:00
Michigan Cannabis Flower Price Dips $171 Per Ounce in One Year
Although demand for adult-use cannabis soared throughout 2021 in Michigan, falling retail prices have left some business executives uncertain of their future in an increasingly competitive market. From flower, vapes, edibles, and a host of other products, Michigan dispensaries sold $124.6 million of adult-use cannabis in January 2022, representing an 84.8% increase from the $67.4 million sold in January 2021. But during that same one-year timeframe, the average retail flower price dipped from $323.68 to $152.74 per ounce at adult-use dispensaries, a 52.8% price decrease, according to Michigan’s Marijuana Regulatory Agency (MRA). The percent decrease for the medical flowers was nearly the same. The average retail price per ounce for medical flowers dipped from $252.04 in January 2021 to $119.64 in January 2022, representing a 52.5% decrease. Michigan was the eighth state to launch adult-use cannabis sales in the U.S. when licensed dispensaries began opening their doors to customers in December 2019. During that inaugural month of adult-use sales, the average retail price of flower was $516.21 per ounce, according to information from Metrc, the state’s seed-to-sale tracking provider.
Cannabis Business Times, 03/21/2022 14:46:00
Mississippi Cannabis Trade Association Holds Petition Drives for Special Elections on Medical Cannabis
The Mississippi Cannabis Trade Association is trying to ensure medical cannabis access for all those who need it—even patients in cities that have opted out of the state’s medical cannabis program. The industry group is holding signature drives in local municipalities that have opted out of hosting medical cannabis businesses to give voters a chance to opt back in, according to a local WAPT report. Mississippi voters approved medical cannabis legalization by more than a two-thirds majority in the 2020 election, but the state’s Supreme Court overturned the measure in May 2021 due to a signature-gathering technicality. Sen. Kevin Blackwell and Rep. Lee Yancey then fought to restore the will of their constituents through legislation to legalize medical cannabis. The bill cleared the Legislature in January and Gov. Tate Reeves signed it into law in February. The law allows Mississippi’s counties and municipalities to opt-out of hosting medical cannabis cultivators, processors and dispensaries within three months of the bill being signed into law, but residents can petition for a special election to overturn their city’s decision. Residents must collect 1,500 signatures to get a special election, WAPT reported, and once the signature requirement is met, the city has 60 days to hold the election.
Cannabis Business Times, 03/21/2022 16:31:00
CDC Dishes Out Workplace Cannabis Policy Advice to Companies That Hire Drivers
Cannabis companies that hire drivers to work for them—such as delivery services and goods transporters—are being advised by the Centers for Disease Control and Prevention (CDC) to establish certain policies that can mitigate the risk of impaired driving, all the while ensuring that companies remain in alignment with state legalization laws. At the end of November 2021, the CDC’s National Institute for Occupational Safety and Health (NIOSH) announced that there are deep-seated risks associated with driving a motor vehicle under the influence of cannabis’ psychotropic compound tetrahydrocannabinol (THC). On the other hand, the issue represents a gray area since there is no existing method to identify active impairment from cannabis. For this reason, among many others, the division of the CDC has publicly issued best practices for specialist cannabis companies that hire drivers. “Despite some unanswered questions about marijuana’s role in crash risk, workers under the influence of marijuana do not have the skills needed to drive safely,” the news feature reads. “Because marijuana use is on the rise for adults in the U.S., this substance needs to be addressed by all workplace motor vehicle safety programs.”
Posted By, Cannabis Central, 03/21/2022 08:00:00
Don’t Expect More Cannabis Funds, Says Portfolio Manager
A portfolio manager doesn’t expect to see additional marijuana-centered funds due to lack of demand. Nawan Butt, portfolio manager with Purpose Investment, told the Investing News Network (INN) despite the success of managed funds with a direct focal point in pot stocks, he isn’t sure there is a lot of money available for more funds. “There’s really no more flow of money into the space right now, everyone seems to have just paused,” he said. Butt described the landscape of marijuana funds as “limiting” when asked about the possibility of Purpose Investment launching a second fund in addition to its Purpose Marijuana Opportunities Fund (NEO: MJJ). “I don’t think there’s enough demand, just right now,” the portfolio manager said. However, one catalyst that he expects could change this outlook is the legalization of cannabis in the US. With the growth and establishment of the marijuana landscape, the potential entry of institutional investors has intrigued companies and observers of the market. He told INN Purpose Investment has noticed “a lot more institutional investment behind marijuana.” Butt highlighted the entry of the California Public Employees’ Retirement System.
Hemp Land, Cannabis Hemp Blog, 03/21/2022 14:37:00
Open article: https://hempland.net/dont-expect-more-cannabis-funds-says-portfolio-manager/
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South Africa approves first legal cannabis pharmacy
South Africa has given the green light for the operation of the first legal cannabis pharmacy within its boundaries. This unmatched launch follows the Decriminalisation of cannabis in South Africa in 2018. According to a report by The Sunday Times, THC Pharmacy is...
Despite Falling Stock Prices, Cannabis Leaders Are Optimistic
Cannabis investors have seen stock prices tumble even as cannabis companies report increasing sales. Green Market Report recently asked some leaders in the cannabis industry how they felt about the market in general despite the market pessimism. Brandon Pollock, CEO...
US cannabis firm to light up Thai weed scene
A Las Vegas-based cannabis company has become the first foreign franchise to jointly open a medical marijuana clinic in Thailand, treating Parkinson’s, Alzheimer’s, cancer, eating disorders, and insomnia in Bangkok’s flashy tourist zone. “I hope that Thailand becomes...
Arizona Collected More Tax Revenue From Marijuana Than Alcohol And Tobacco Combined, March Data Shows
Arizona generated more tax revenue to the state general fund from legal marijuana sales than from tobacco and alcohol combined last month, state data released last week shows. Tax deposits to the state general fund from medical and adult-use cannabis reached about...
Austin, Texas Voters Can Officially Start Voting On Local Marijuana Decriminalization Ballot Initiative
Early voting kicked off in Austin, Texas on Monday, giving voters a chance to decide on a local initiative to decriminalize marijuana and ban “no-knock” warrants by police. The Austin City Council approved a resolution to put the reform measure on the local...
Alabama Democrats start ‘Free Weed’ site for marijuana legalization
The Alabama Democratic Party has launched a “Free Weed” website to support its effort to legalize the recreational use of marijuana in the state. The site, www.FreeWeedAL.com, argues that prosecutions for small amounts of cannabis are a waste of criminal justice...
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