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Featured Articles
Fintech Partnership Will Offer Lending and Financial Services to Cannabis Operators
Bespoke Financial, the first Fintech lender in the country providing debt financing to cannabis companies, today announced its strategic partnership with PayQwick, the cannabis industry’s most comprehensive treasury and financial services platform. The partnership...
Why New Jersey isn’t starting legal marijuana sales on 4/20
When the New Jersey Cannabis Regulatory Commission announced the start date for recreational marijuana sales in the Garden State last week, you could almost hear the collective frustrated sigh of thousands of cannabis consumers: Why not 4/20? So close, yet so far. New...
Minnesota Hemp License Applications to Close April 30
Minnesota growers or processors looking to cultivate hemp for the 2022 growing season must apply for a license through the Minnesota Department of Agriculture (MDA) by April 30. In addition to the application, first-time applicants must undergo a background check and...
Louisiana House Committee Advances Legislation to Expand Medical Cannabis Access
The Louisiana House Health and Welfare Committee advanced legislation on April 19 to expand medical cannabis access in the state. The committee approved Rep. Joe Marino’s House Bill 758, which would expand the number of medical cannabis pharmacy licenses in the...
American Marijuana Consumers See Investment Opportunities in European Cannabis Sector
According to a survey conducted by Bloomwell Group, a medical cannabis holding company, consumers of marijuana in the United States believe that the widely anticipated legalization of recreational cannabis in Germany will create great opportunities for investment,...
Ohio Lawmakers Introduce Citizen Cannabis Bill That Competes With Their Own Adult-Use Bill
Ohio state Reps. Casey Weinstein, D-Hudson, and Terrence Upchurch, D-Cleveland, are already sponsoring an adult-use legalization bill, but that didn’t stop them from filing similar legislation on behalf of those whom they represent. The northeast Ohio Democratic duo...
Featured Articles
Marijuana Banking Sponsor Won’t Stop Talking About His Bill In Hearings On Unrelated Legislation
A newly filed large-scale spending bill to keep the government funded for the 2022 Fiscal Year does not include language to protect banks that work with state-legal marijuana dispensaries—and the sponsor of the Secure and Fair Enforcement (SAFE) Banking Act would like to know why. In a lighthearted exchange in the House Rules Committee early Wednesday morning when the panel was discussing the omnibus spending package, Rep. Ed Perlmutter (D-CO) said with a smile, “I appreciate this bill. I hope the next one has SAFE Banking in it.” “You mean it isn’t in it?” Chairman Jim McGovern (D-MA) jokingly asked. “No, it’s not,” Perlmutter replied. House Appropriations Committee Chairwoman Rosa DeLauro (D-CT) chimed in so say, “I don’t know how we missed it, Ed.” It’s far from the first time that Perlmutter has made a point to talk about enacting cannabis reform legislation during committee hearings on ostensibly unrelated or wider-ranging legislation. At a hearing on a postal service reform bill before the panel last month, he said worker shortages could be partly resolved by ending federal cannabis prohibition, telling his colleagues to “kind of keep that in the back of the mind.”Also last month in a separate Rules Committee hearing, the congressman stressed that he’s planning to offer the SAFE Banking Act as an amendment to “every single bill I possibly can until it’s passed,” and he acknowledged that his colleagues are probably “becoming all too familiar with” the legislation in light of his repeated advocacy for it.
Kyle Jaeger, Marijuana Moment, 03/09/2022 11:24:00
New York To Let People With Marijuana Convictions Open Dispensaries Before Big Businesses Can Enter Market
New York regulators are set to approve a rulemaking it so people with prior marijuana convictions, or whose family members have been harmed by criminalization, will get the first round of adult-use marijuana retailer licenses—ahead of existing medical cannabis businesses. The proposal to create the conditional licenses will be taken up by the New York State Cannabis Control Board (CCB) on Thursday. It’s a move that would set the state apart from others that have enacted legalization but faced criticism over a lack of promised equity results. Gov. Kathy Hochul (D) is expected to announce the plan on Thursday, as first reported by The New York Times. Office of Cannabis Management (OCM) Executive Director Chris Alexander told the newspaper that he expects upwards of 200 “justice-involved” applicants to receive the priority licenses under the proposal, with retailers potentially coming online by the year’s end. To qualify for the conditional license, an applicant would need to have been convicted of a cannabis-related offense prior to March 31, 2021, when the state’s adult-use legalization law was enacted. Those who have a “parent, legal guardian, child, spouse, or dependent” who faced such convictions would also be eligible, as would those who were themselves dependent on someone with a conviction.
Kyle Jaeger, Marijuana Moment, 03/09/2022 14:44:00
South Carolina Lawmakers Add Marijuana Access To Investigational Drug Bill As House Considers Broader Reform
A South Carolina bill to permit the use of investigational drugs for patients during epidemic or pandemic outbreaks was amended on Wednesday to specifically add marijuana as a treatment option. This comes about a month after the state Senate approved a separate, broader medical cannabis legalization bill that’s set to be taken up by the House of Representatives. The Health and Environmental Affairs Subcommittee of the House Medical, Military, Public, and Municipal Affairs Committee held a hearing on the investigational drug bill from Rep. Melissa Lackey Oremus (R) on Wednesday. And while time constraints meant that members were not able to vote on the overall proposal, they did adopt an amendment from Rep. Krystle Matthews (D) that would add medical cannabis to the list of investigational treatment options that would be authorized under the broader legislation. Marijuana wasn’t specifically included in the original bill, which is designed to give doctors the ability to treat patients with substances that are not currently approved by the federal Food and Drug Administration (FDA) like ivermectin and hydroxychloroquine in the event of an epidemic or pandemic declaration.
Kyle Jaeger, Marijuana Moment, 03/09/2022 15:53:00
JAMA Study on Youth Cannabis Use is Retracted, Replaced
A study published in September in JAMA Network Open, a peer-reviewed publication under the American Medical Association umbrella, found “little evidence” that adult and medical use cannabis legalization “encourage youth marijuana use.” It was a compelling study, and Cannabis Wire interviewed the lead author by email for our coverage. On Tuesday, the journal published a “Notice of Retraction and Replacement.” Methodological concerns raised by researchers prompted a new data analysis, which made the declines in youth use no longer “statistically significant.” “We apologize to the readers and editors of JAMA Network Open for any confusion we caused,” the authors wrote in the notice. So what happened? Importantly, the authors of the original study used “unweighted and pooled national and state” data from the Youth Risk Behavior Survey for the time frame 1993 to 2019, a time period when states overhauled their cannabis laws, starting with California in 1996. It was this “pooling” of data that was the problem. “While this unweighted and pooled approach maximized the number of state policy changes used to identify the effect of marijuana legalization on youth marijuana use for the average student in the pooled sample, published Comments advised that the approach was inappropriate,” authors Mark Anderson and Joseph Sabia wrote in a letter published Tuesday. One of the researchers who wrote a comment of concern was Nora Volkow, director of the National Institute on Drug Abuse.
Alyson Martin, Cannabis Wire, 03/08/2022 19:00:00
Michigan Legislation Aims to Remove Cannabis as Schedule I Drug
Michiganders voted to legalized adult-use cannabis in the November 2018 election, but the plant remains scheduled alongside controlled substances like LSD, ecstasy and heroin under state law. Aiming to address repercussions associated with that designation, House Bill 5877 would remove cannabis from the state’s list of Schedule I drugs. Substances on that list have a high potential for abuse and have no currently accepted medical use in treatment, as defined by Michigan law. While many state residents who purchase and use medical or adult-use cannabis under Michigan’s state-legal program are not impacted by the designation, House Democratic Floor Leader Yousef Rabhi, who sponsors H.B. 5877, said continuing to classify cannabis as a Schedule I drug does have broad implications, MLive.com reported. Those who use or possess Schedule I drugs could face consequences related to employment, guardianship, criminal punishment and housing, such job or tenant applications that include policies that prohibit substances on the list, Rabhi told the news outlet.“And then there are things like Child Protective Services,” Rabhi said. “People who have been legal cannabis users, even medical users, it has been used in our CPS laws, because [they] reference our schedule of substances.” Rabhi currently has eight Democratic colleagues signed on for sponsorship. He’s hoping to gain support from across the aisle, he told MLive.
Cannabis Business Times, 03/09/2022 14:05:00
Missouri Lawmaker Urges Adult-Use Bill Over Citizen Initiative
Missouri state lawmakers must act now on adult-use cannabis legalization or risk having their hands tied should an initiative petition change the state Constitution. That was the bottom line from Rep. Ron Hicks, a St. Charles County Republican, when he presented his legislation during a hearing before House Public Safety Committee members on March 8. Several Missourians testified to voice their support of the bill, which Hicks filed last month. Titled the Cannabis Freedom Act, House Bill 2704 aims to legalize the possession and personal use of cannabis for those 21 and older, allow for home cultivation of up 12 mature plants, and tax cannabis sales at a rate not to exceed 12%, among other provisions, according to a summary of the 74-page legislation. In addition, cannabis cultivators, manufacturers, processors, and distributors would not be subject to special zoning requirements or licensing fees under the legislation. The main reason Hicks said Missouri state lawmakers need to act now is so they can control any forthcoming legalization parameters.
Cannabis Business Times, 03/09/2022 11:54:00
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Older Posts
Marijuana Trafficking Is Changing At US-Mexico Border — Here’s How
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...
Congressman Urges Senate To Pass Marijuana Banking Bill As ‘Icebreaker’ To Broader Reform
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...
Cannabis sinks amid weed glut, Congress’ inaction
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...
Looking Ahead to Adult-Use Sales, Connecticut Cannabis Business Take Stock of What’s Needed
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...
lawmakers are warming up to the cannabis industry
But things have been heating up much earlier this year. In the first four days of April, the US House of Representatives ( once again and narrowly) passed a bill to decriminalize marijuana and then, days later, (overwhelmingly) approved legislation to ease barriers to...
Marijuana legalization advances in Missouri House
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...
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