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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...
New Cannabis ETF Offers More Global Cannabis Stock Exposure
Roundhill Investments, an ETF sponsor focused on innovative thematic funds, today launched the Roundhill Cannabis ETF (“WEED ETF”) on the Cboe BZX Exchange. The WEED ETF seeks to provide investors with exposure to the cannabis sector, including U.S. multi-state...
ACLU Suing Nevada Over Cannabis Constitution Issue
State law — and the will of Nevada voters — is clear that cannabis is legal to possess and use for medicinal and recreational purposes. Yet state agencies, including the Nevada State Board of Pharmacy, continue to list it as a Schedule I substance alongside meth,...
Three In Four South Carolina GOP Voters Support Medical Marijuana As House Floor Debate Approaches, Poll Finds
Three in four South Carolina Republican primary voters say they support legalizing medical marijuana, according to a new poll. The survey from Benchmark Research asked GOP voters in the state whether they favor “allowing patients who suffer from an approved list of...
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Wyoming Marijuana Decriminalization Bill Won’t Get A Vote This Session, Sponsor Says
A proposal to decriminalize possession of small amounts of marijuana won’t come up for a vote this legislative session, according to the bill’s sponsor. The legislation was initially filed last month, Marijuana Moment reported. But state Rep. Mark Baker, R-Rock Springs, told The Center Square that there simply isn’t time to take up the bill in a shortened session devoted to the budget. “The way Wyoming works, we budget biannually, a two-year budget,” he said. “This year, we have a budget session and it’s only 20 days long. We also have redistricting bill. Anything is not budget or redistricting requires a two-thirds vote because of the timeframe.” Legislators were given the opportunity to bring only one bill forward this session, Baker noted. “I chose to not bring that bill [marijuana legislation] forward,” Baker said. “I chose to bring another bill forward.” The legislation would have made possession of small amounts of marijuana a civil violation with a $100 fine, rather than a misdemeanor which carries a potential of a year in jail and a $1,000 fine, Baker said. With the bill off the table for this year, the emphasis is on creating a study committee that would explore the costs and potential tax revenue from legalizing the sale of marijuana, the lawmaker said.
Marijuana Moment, Marijuana Moment, 03/07/2022 08:43:00
Israel Set To Decriminalize Weed As More Marijuana Businesses Join The Emerging Market
Israel has long dominated the cannabis industry in terms of breakthrough research and an emerging marketplace. It seems that Israel is taking steps toward the legalization of recreational cannabis, with the government considering fully decriminalizing adult use. President Isaac Herzog and Justice Minister Gideon Sa’ar announced Sunday that the government is also considering expunging criminal records of those convicted of personal possession or cannabis use, The Jerusalem Post reported. Once the new regulations are approved, Israelis with a possession or personal use conviction will be able to have their records cleared upon submitting a request with the Justice Ministry, once it is filed for the president to decide upon. In February, Sa’ar submitted his decriminalization of marijuana plan, which seeks to recategorize cannabis-related offenses from criminal to civil offenses, for public comment, according to the news outlet. The move will “lift the criminal labeling and the stain that accompanies it” and it builds on a proposal that was put forward to amend the Administrative Rules and Order law.’ Currently, cannabis use is partially decriminalized in the Middle Eastern country, with the first two incidents resulting in fines and an indictment filed only upon the fourth offense.
Benzinga Staff Writer, The Fresh Toast, 03/07/2022 14:00:00
Costa Rica Legalizes Medical Cannabis, Recreational Weed Still Prohibited
Costa Rica legalized medicinal marijuana this week after President Carlos Alvarado signed a law passed a day earlier by congress. Under the new law, hemp cultivation and industrial production are also legalized. However, recreational marijuana use continues to be banned, the Associated Press reported. A previous piece of legislation that would have legalized the plant was vetoed by the president earlier this year, after which lawmakers made changes requested by President Alvarado who has been very outspoken regarding his opposition to the measure, citing specific grievances after he “partially vetoed” it. According to The Tico Times, parts of the bill the President wanted to see modified included the wording around self-consumption and self-cultivation, as those areas undermine “legitimate” objectives of the bill and could pose a public safety risk. Now that he has signed the bill, Alvarado emphasized that the new law will help those who need cannabis to treat symptoms of their illnesses as well as stimulate development in rural areas where hemp will be grown. Although the president made these moves just as his time in office is coming to an end. Two presidential candidates, José María Figueres and Rodrigo Chaves, who will face off in a runoff election on April 3, are both known for being in favor of legalizing recreational cannabis.
Benzinga Staff Writer, The Fresh Toast, 03/05/2022 07:00:00
Montana’s Adult-Use Cannabis Sales Revenue Tops $12.8 million in First Month
Montana’s adult-use cannabis industry is on track to yield $130 million—a sales prediction made by the Governor’s budget office—in its initial year of operation. Adults age 21 and over have been legally allowed to purchase a maximum of one ounce of recreational cannabis in Montana since January 1, 2022. Based on the latest revenue results, the “Big Sky Country” generated $12.8 million during its launch month. Montana’s Legal Cannabis Market Produced Millions in Tax Revenue The Montana Marijuana Legalization and Tax Initiative, A.K.A. “Montana Initiative 190,” passed in November 2020 with a vote of 56% to 43%. As per the results, 341,037 people voted “yes” and 258,337 people voted “no” to legal cannabis. Sponsored by New Approach Montana in conjunction with the Marijuana Policy Project, Montana’s recreational cannabis law has been received well by consumers. On opening weekend, the state’s newly legal adult-use market accounted for $1.5 million of the month’s total sales. Furthermore, data released by the Montana Department of Revenue indicates that statewide recreational cannabis sales remained level through the month of January–resting somewhere between $2.6 million and $2.9 million on a week-after-week basis.
Posted By, Cannabis Central, 03/08/2022 08:00:00
A Pennsylvania company becomes the first in the US to raise marijuana legally for medical research
For more than half a century, federal law stopped all private-sector companies from selling Schedule I drug for medical research. But York County-based Groff North America said it became the first business in the country last month to bring a cannabis crop to market legally for scientific study. Originally a hemp company, the Pennsylvania firm was 1 of just 4 nationally to win approval from the U.S. Drug Enforcement Agency last spring to sell their product for medical and scientific purposes. Before, researchers had been restricted since 1968 to using only cannabis from a center at the University of Mississippi. Groff North America founder and chief medical officer, Dr. Steven Groff, called the liberalization of DEA policy “a huge catalyst to unleashing the American scientific community.” “For the first time, real-world marijuana will be available to researchers throughout the country,” he said. “We’re working with some of the top institutions in America in providing new types of material that heretofore wasn’t available from Mississippi,” Groff said those items include the vaping and oil products that patients can already obtain in the 37 states where medical marijuana is legal.
Cannabis Business Executive – Cannabis and Marijuana industry news, 03/08/2022 08:09:00
Who Now Has Federal Permission to Grow Cannabis for Research?
Slowly, but surely, the U.S. Drug Enforcement Administration is rolling out licenses to entities that want federal permission to grow cannabis for research. For more than fifty years, only one place could legally do so: the University of Mississippi. Then in 2016, the DEA announced it would approve new growers, which, as the result of twists and turns on which Cannabis Wire reported, didn’t finally happen until last year. In May of last year, three entities announced that they had signed a “memorandum of agreement” with the DEA, which is one step before final approval. They were Biopharmaceutical Research Company, based in California; Scottsdale Research Institute, based in Arizona; and Bright Green Corp., which is based in New Mexico, and which also received a statement of support from the state’s governor for its “$300M investment in high-tech cannabis manufacturing and research facility.” But the picture was still fuzzy. At the time, despite the company announcements, the DEA would not confirm which—or how many—applicants had received these memorandums of agreement. A sharper picture is beginning to take shape, though: In November, the DEA finally created a dedicated page on its site for this new program.
Nushin Rashidian, Cannabis Wire, 03/07/2022 19:00:00
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Nevada Police Are Exploiting Marijuana Scheduling ‘Loophole’ To Make Arrests Despite Legalization, ACLU-Backed Lawsuit Claims
A new lawsuit is backed by the Nevada chapter of the ACLU claims that the state’s drug code unconstitutionally continues to list marijuana as a Schedule I drug, enabling police to continue to arrest people over cannabis despite the fact that it’s been legalized for...
Marijuana Legalization Tied To ‘Significant Reductions’ In Prescription Drug Use, Researchers Find
Legalizing marijuana for adult use is associated with decreased use of prescription drugs for the treatment of conditions such as anxiety, sleep, pain, and seizures, according to a new research paper. Several previous studies have identified associations with the...
Marijuana Trafficking Is Changing At US-Mexico Border
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...
Federal Regulator Cheers State-Level Cannabis Banking Reforms Amid Congressional Inaction
Banking is one of the most crucial resources the state-legal cannabis industry is missing out on due to federal prohibitions. Fearing retaliation from the federal government, most financial institutions refuse to work with cannabis businesses, depriving them of...
Tell the Senate: Support Keeping SAFE Banking in America COMPETES
Back in February, the House of Representatives approved a massive economic package called the America COMPETES Act, which contained an amendment from Rep. Ed Perlmutter to include the SAFE Banking Act in the legislation. This is the sixth time that the House has...
These 3 cannabis bills could spur significant societal change
Change drives innovation, and the U.S. is poised for a seismic shift in cannabis legislation with broad implications for social justice and economic health. Several notable pieces of legislation are currently proposed or working their way through Congress. These...
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