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Featured Articles
Connecticut Governor signs legislation cracking down on cannabis ‘Gifting’
The new law allows communities in Connecticut to punish individuals with a fee of up to $1,000 for the practice. Another state with legal weed is cracking down on unregulated cannabis retailers. This time, it is lawmakers in Connecticut who are taking on the practice...
Big Victory in a Small State: Rhode Island Legalized Cannabis
On Wednesday, May 25th, Governor Dan McKee signed the Rhode Island Cannabis Act into law, which effectively legalized cannabis for adults over the age of 21. In addition to implementing guidelines under which to sell and tax cannabis products, a key provision in this...
Marijuana Research Has Exploded In Recent Years Despite Barriers Caused By Prohibition, New Study Finds
The volume of studies on marijuana has “grown steeply” over the past couple decades as more U.S. states and countries around the world have moved to end prohibition, a new research analysis concludes. That’s in spite of the fact that U.S. federal policy has severely...
GOP Congresswoman Says Primary Opponent Sold ‘Hot Hemp’ And May Be ‘Illegal Drug Dealer’ At Debate
A Republican congresswoman from Colorado is accusing her primary election opponent of being an “illegal drug dealer” over allegations that a company he owns grew and sold hemp containing more than the allowable amount of THC. At a debate on Thursday, Rep. Lauren...
New York Office Of Cannabis Management Asks TikTok To Allow Educational Weed Ads
How do more than 1 billion active monthly users on TikTok view cannabis content According to a recent study, mostly in a positive light. By Joana Scopel The New York Office of Cannabis Management (OCM) sent a letter recently to TikTok executives asking the company “to...
Jamaica focused on attracting more sustainable and innovative investments in 2022
As Jamaica pursues its Vision 2030 development plan which will transform the island’s economy, the country’s government continues to develop and seek innovative investments that can accelerate economic and social growth. These investment projects will not only provide...
Featured Articles
South Dakota Voters Will Decide On Marijuana Legalization Ballot Measure In November
South Dakota officials on Wednesday certified that activists turned in a sufficient number of signatures earlier this month to qualify a marijuana legalization measure for the November ballot. South Dakotans for Better Marijuana Laws (SDBML) needed 16,961 valid submissions to place their initiative before voters. Now, the secretary of state’s office has confirmed that more than enough valid petitions were received and that the proposal will appear on the November ballot as Initiated Measure 27. Matthew Schweich, campaign director of SDBML, told Marijuana Moment that he is “very happy” that voters will get a chance to decide on the reform. “We are extremely thankful to all the people who signed our petitions and all of our incredible volunteers who helped make this happen,” he said. “As required by South Dakota Codified Law § 2-1-16, our office conducted a random sample of the petition signatures and found 79.22 percent to be valid,” stated Secretary Of State Steve Barnett said in a press release.
Tom Angell, Marijuana Moment, 05/25/2022 16:26:00
Texas Activists Say They’ve Collected Enough Signatures To Put Marijuana Decriminalization On Another Local Ballot
Texas activists announced on Wednesday that they have collected enough signatures to qualify a marijuana decriminalization initiative for the local November ballot in Killeen. This marks the latest success for Ground Game Texas, a progressive advocacy group that recently championed a decriminalization measure in Austin that voters overwhelmingly approved at the ballot earlier this month. For Killeen, Ground Game Texas Political Director Mike Siegel told Marijuana Moment that the group collected more than 2,400 signatures, and 1,400 have been pre-verified. “We feel confident this will be enough to secure verification of the initiative,” he said. Killeen isn’t quite as large as the state capital, of course, but the successful signature gathering campaign is another indication of the strong appetite for cannabis reform among voters in the Lone Star state. “In a quickly growing and thriving community like Killeen, there’s no excuse for the continued over-policing and incarceration of community members for marijuana use,” Julie Oliver, executive director of Ground Game Texas, said in a press release.
Kyle Jaeger, Marijuana Moment, 05/25/2022 12:08:00
Congressman Wants Changes in Marijuana Testing of Truck Drivers
Science currently cannot determine whether drivers are too impaired by cannabis to get behind the wheel. That’s because THC, the chemical ingredient in cannabis that causes the high, remains detectable in urine for as long as a month. Despite this, the federal government continues to sideline truck drivers for marijuana use, even in the middle of a supply chain crisis. Thanks to federal law, which lists marijuana as an illegal substance, marijuana testing of truck drivers continues nationwide, despite the test’s flaws. It’s led a congressman to ask that the federal government change the rules. Citing numbers from the federal Department of Transportation, Rep. Earl Blumenauer, a Democrat from Oregon, noted recently that the DOT has disqualified tens of thousands of truck drivers from working in the past two years because they tested positive for THC on a drug test. “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,” Blumenauer wrote in a letter to Transportation Secretary Pete Buttigieg.
Cannabis Law Report, 05/25/2022 14:29:00
DEA-Approved Cannabis Cultivator Debuts on NASDAQ
Bright Green Corp., a Florida-based cannabis company, made history last week by being the first “plant-touching” company to list its shares on a major securities exchange within the United States. The company, which boasts of being in possession of conditional approval from the U.S. Drug Enforcement Administration to grow research-grade marijuana, started trading on the NASDAQ exchange under the ticker BGXX on Tuesday last week. The exchange had earlier set $8 as the reference price for a share of this company, but when trading opened on Tuesday, the stocks started trading at $15.99. In the course of the day, the price climbed up to a maximum price of $36.44 though it eventually ended the day at $25.25. This closing price depicted a 216% increase from the reference price at which a share was set just before trading started. It should be noted that BGXX was categorized as a direct listing. In such a listing, the current shareholders of a company sell some of their shares, and the company doesn’t receive the proceeds from such a sale of stocks.
CannabisNewsWire, 05/26/2022 04:20:00
Despite regulatory hurdles, these 4 US cannabis investors are planting seeds for tomorrow
Bearish markets and high interest rates often cause private investors to turn away from anything resembling a risky investment. Yet, now is a very apt time to take another look at the cannabis opportunity in the U.S. Quite a lot has changed since our previous U.S. cannabis survey from 2020. Recreational cannabis is now legal in a few more states, including New Jersey and New York, the latter of which has even launched a social equity program that aims to help communities affected by the War on Drugs. Despite the market downturn, the sector is growing — legal sales of marijuana and related products are slated to rise about 32% from 2021 to top $33 billion this year and reach $52 billion by 2026, according to MJBiz. But cannabis startups still have a long way to go before they can begin to truly thrive in the country. The biggest roadblock is cannabis’ illegal status at the federal level, which makes things even more difficult and fragmented than in Europe.
05/24/2022 20:00:00
The Rapid Expansion of Michigan’s Cultivation Industry
Saturation, staying ahead and the wild card still out there As of January, only about 160 of Michigan’s 1,773 cities have formally approved the cultivation and sale of recreational marijuana, according to data from the state’s Marijuana Regulatory Agency . As a result, licenses are highly concentrated in a small percentage of the state. But in March 2021, the MRA announced it would open the recreational marijuana licensing process to a wider pool of applicants. This change in the application process invited applicants and investors from other states. Previously, only applicants who were licensed under the Medical Marijuana Facilities Licensing Act were granted licenses. Signs of Saturation The number of Michigan cultivation licenses has more than tripled since last year. Increasing operations mean increasing supply of cannabis flower, which leads to plummeting prices. At the time of writing, the MRA has issued a total of 1,235 cultivation licenses. Many of these are “stacked,” with a large cultivator operating under numerous licenses, thereby increasing the total amount of plants they can grow.
Marijuana Venture, 05/24/2022 15:00:00
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Consumers Fight Illegal Marijuana Problem When Buying From Legal Dispensary
Two recent news stories reinforce the need for consumers to ensure they buy marijuana from a legal dispensary. Even in states where marijuana is legal, criminal elements continue to try to sell illegal marijuana outside the legal cannabis marketplace. Illegal...
North Carolina Lawmakers Again Consider Adult-Use Cannabis Legalization
North Carolina lawmakers are again considering adult-use cannabis legalization this year after Sen. Toby Fitch, a Democrat from Wilson and Edgecombe counties, put forth Senate Bill 765. The 69-page bill, introduced May 30, aims to legalize and regulate the use,...
Delaware Rally To Overturn Marijuana Legalization Veto Set For June 7
A rally in support of overturning Gov. John Carney’s veto of legalized marijuana is planned for noon, Tuesday, June 7, at Legislative Hall in Dover. Veterans and activists with DENORML and Delaware CAN kicked off a statewide campaign urging legislators to override...
California Officials Launch New Marijuana Map Revealing Which Areas Are Still Blocking Businesses
California officials launched a new resource on Thursday, providing people with an interactive map showing where marijuana businesses are permitted—and where they are blocked from opening—throughout the state. The tool draws attention to the fact that more than half...
State Financial Regulators Tell Congress To Pass Marijuana Banking Protections In Manufacturing Bill
”An organization that represents state financial regulators from across the U.S. is putting pressure on Congress to pass marijuana banking reform as part of a large-scale manufacturing bill that’s currently being finalized in a bicameral conference committee. The head...
California Marijuana Retailers ‘100 Percent’ Compliant In Checking IDs To Prevent Youth Access, Study Finds
California marijuana retailers do a very good job of preventing underage people from entering their shops and purchasing cannabis, a new study found. Researchers wanted to put the cannabis industry’s compliance with ID requirements to the test, so they sent people who...
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