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Featured Articles
South Dakota Marijuana Activists Issue ‘Yellow Alert’ For Signature Drive To Put Legalization On Ballot As Deadline Nears
South Dakota activists say they’re falling behind on signature gathering for a ballot initiative to legalize marijuana in the state—and they’re urging supporters to step up their efforts to secure the remaining signatures ahead of a looming turn-in deadline next...
Pennsylvania Senate Approves Marijuana Banking Bill, Sending It To The House
The Pennsylvania Senate on Wednesday approved a bill to safeguard banks and insurers against being penalized by state regulators for working with state-legal medical marijuana businesses. The bipartisan legislation from Sens. John DiSanto (R) and Sharif Street (D)...
Delaware House Committees Approve Complementary Marijuana Legalization And Regulations Bills
A pair of complementary bills to legalize marijuana and set up regulations for cannabis commerce in Delaware were approved in separate House committees on Wednesday. Rep. Ed Osienski (D), the sponsor of both measures, previously tried to pass a comprehensive bill that...
New York Senator Files Bill To Promote Marijuana Banking By Giving Financial Institutions Access To Business Information
A New York senator wants to give banks in the state a little peace of mind about working with legal marijuana businesses, filing a bill on Tuesday that would allow regulators to disclose certain information about cannabis licensees to financial institutions. The bill...
This Senator Is Determined To Get New Jersey Marijuana Shops Up And Running
New Jersey’s regulators green-lighted the launch of the state’s recreational cannabis market. The Cannabis Regulatory Commission (CRC) approved 34 conditional licenses and agreed that seven of the state’s ten medical cannabis companies begin sales, possibly within...
Report Finds That Recreational Cannabis Generated More Than $3.7B in Tax Revenue
A recent report shows that last year states which had legalized cannabis for adult use cumulatively raked in more than $3.7 billion in tax revenue from recreational marijuana sales. This report follows upon an analysis of the Marijuana Policy Project released at the...
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Washington lawmakers urge halt to hemp-derived THC in state
Washington lawmakers are making a last-ditch attempt to block intoxicating, synthetically derived cannabis products, including gummy candies and vape oil, from being sold at gas stations, convenience stores, and smoke shops after earlier bills failed. “These are being sold right now, without any regulation, without any oversight,” said Democratic Sen. Karen Keiser. “It’s a public health danger and a threat, and it needs to be removed.” With about two weeks left in the legislative session, Keiser and Republican Mark Schoesler introduced a measure Friday to ban the products both within Washington’s legal marijuana industry and outside it. The products have proliferated nationally due to a perceived loophole in the 2018 federal Farm Bill, which authorized hemp growing. An alternative bipartisan bill — one that would ban synthetic cannabinoids outside of Washington’s regulated Initiative 502 marijuana market, but convene a scientific panel to recommend ways to authorize them in the future — was introduced earlier in the week in the House. In the past year and a half, producers across the country have taken CBD, a non-intoxicating compound extracted from hemp, and chemically converted it using acids and solvents into impairing delta-8, delta-9, or other types of THC, which is then used in vape oil, gummy candies and other products.
420 Intel – Marijuana Industry News, 02/27/2022 19:00:0
Cannabis industry at a tipping point waiting for regulations
The world is waking up to the blooming cannabis market and it’s time to elevate this industry, says Eric Benz, a contributor to CannaDAO, which is creating a blockchain-based platform for the cannabis industry. Cannabis is one of the fastest-growing industries globally, with governments across the world taking steps toward legalization and investors doubling down on backing the technology last year to help propel the industry forward. This has led to the industry thriving despite an ongoing pandemic and a supply chain nightmare. Eric Benz, contributor at CannaDAO, a project that is creating an ecosystem of opportunity for the cannabis industry via tokenization and a permissionless, decentralized, on-chain platform governed by its members, says that legalization of the cannabis industry will open up immense opportunities to individuals and businesses in global markets and in turn pave the way for other plant medicines and treatments to come. Benz says Cannabis has been misrepresented in the media and across the industry for more than a century and as a result, the perception and understanding have been completely misguided and that the industry has gone through an incredible maturation process and the world is beginning to wake up to all the wonderful benefits this plant provides. “In addition to saving lives, cannabis is also cleaning the pollution in the air, replacing concrete, and transforming the way we harness plant medicine overall. The countries that have banned cannabis have done so for reasons which have no merit and are based on antiquated beliefs and societal stereotypes which are no longer fit for purpose. The world is waking up to the blooming cannabis market and it’s time to elevate this industry,” he says.Asked if lifting bans on this industry would increase cases of addiction, Benz said Cannabis is a natural plant used to cure pain and also help with anxiety and depression and that the industry is at a tipping point and it is bursting at the seams waiting for regulation to open up to take full advantage. “Once more bans are lifted it will begin putting cannabis in a new light and showcase the benefits and opportunities whilst redefining how cannabis is represented in media and by governments,” he says.He added that the current industry is extremely regulated and now that regulatory framework has to be adapted to the web3 world, allowing technology and the community to empower the advancement of the cannabis industry.
420 Intel – Marijuana Industry News, 02/27/2022 19:00:00
Expanded Louisiana medical pot program drawing tens of of millions of dollars in investment
When sales in Louisiana’s restrictive medical marijuana program began in 2019, advocates and prospective marijuana business owners worried it would be tough sledding to survive financially, given the reams of regulations attached to the program. But the recent relaxation of many of those rules – including, crucially, the addition of more popular flower products – has rapidly drawn major investment in Louisiana’s pot industry. Now, for the few companies who have control over the growing and selling the drug through exclusive state licenses, big profits seem possible. Public records show the state’s two growers – private companies hired by LSU and Southern University, respectively – spent the most money yet on their production in 2021, with LSU’s partner shelling out tens of millions of dollars to boost its growing capabilities. Tax data indicates sales are starting to pick up as well. The two growers pay a 7% fee on whatever they sell, and in the fiscal year that ended in July, they remitted more than $270,000, suggesting gross sales of nearly $4 million.
Cannabis Business Executive – Cannabis and Marijuana industry news, 02/28/2022 09:00:00
Oklahoma medical marijuana seed-to-sale system can proceed after injunction lifted
Oklahoma’s medical marijuana seed-to-sale system can move forward following a partial resolution. An agreement between the medical marijuana commercial licensees who filed the lawsuit and co-defendants Oklahoma Medical Marijuana Authority and Metrc enabled the seed-to-sale system to proceed. An Agreed Order was filed Friday, lifting the restraining order that prevented OMMA from implementing the seed-to-sale tracking and tagging system for the medical marijuana industry. Metrc is OMMA’s contractor for the program. “Lifting this injunction clears the single biggest roadblock to OMMA enforcing the law,” said OMMA Executive Director Adria Berry. “This is a crucial step toward cracking down on licensees operating illegally or skirting the system within Oklahoma’s medical marijuana industry. Come May 27th, we will focus the bulk of our enforcement authority on businesses that are not Metrc-compliant.” Viridian Legal Services obtained the restraining order last April as a continuation in the class-action lawsuit filed on behalf of over 10,000 state-licensed cannabis businesses across Oklahoma.
Mmp News Author, Medical Marijuana Program Connection, 02/26/2022 04:19:00
USDA Survey Reveals Hemp Market Reached $824M Valuation in 2021
This week, the U.S. Department of Agriculture (“USDA”) revealed that the value of the hemp market in 2021 reached $824 million. The survey is the first federal study into the hemp sector, and the analysis is meant to be used as a benchmark for the sector’s economic impact. According to Hubert Hamer, an administrator for USDA National Agricultural Statistics Service (“NASS”), the report would provide producers, state governments, regulators, processors, and other key players with benchmarks on hemp production. The Hemp Acreage and Production Survey was undertaken in collaboration with the University of Kentucky and the National Association of State Departments of Agriculture after it received approval from the White House last year. The agency wanted to determine the size of the hemp market and collected data from about 20,000 hemp growers who cultivate about 54,200 acres for the crop. Respondents were asked questions on the acreage for operations, the prices producers are able to bring in, primary and secondary uses for the crop, acreage for operations and outdoor hemp production. The department also included the areas it was interested in including smokable hemp, CBD, fiber, seeds, and grains for consumption.
CannabisNewsWire, 02/28/2022 04:20:00
A Missed Opportunity: Italy’s Supreme Court Shoots Down Cannabis Referendum
Cannabis activists in Italy have worked hard over the course of many years to end prohibition. Legalization has become a top priority for citizens and legislators as they realize cannabis prohibition is a failed public policy in Italy, just as it is in every other non-legalized nation. All of the hard work of countless activists over multiple generations in Italy culminated in a major milestone being achieved late last year. Activists in Italy gathered over 630,000 signatures in an attempt to put a cannabis legalization referendum before voters. For a brief time, it appeared that the effort was going to be successful. However, the referendum was recently blocked on a technicality. The Referendum Process The initiative/referendum process is a particularly helpful one for cannabis activists, as referendums have led to cannabis legalization in individual states, as well as countries around the globe. The process involves ordinary citizens collecting a required number of signatures in order to put an issue in front of voters. Many jurisdictions have legalized at the local level in the Western Hemisphere this way.
Johnny Green, Cannabis & Tech Today, 02/25/2022 09:00:00
Open article: https://cannatechtoday.com/italys-supreme-court-shoots-down-cannabis-referendum/
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Hemp advocacy group meets with McConnell to push legislative agenda
Representatives of a hemp advocacy group met with members of Congress including Senate Minority Leader Mitch McConnell last week to rally support for legislation drafted to promote hemp agriculture. The day of meetings with senators and members of the House of...
Wisconsin Senator Agard says ‘Republicans are all talk and no action’ on medical marijuana reform
Wisconsin State Senate Committee on Insurance, Licensing and Forestry will hold a public hearing on a medical marijuana bill (Senate Bill 1034) on April 20th. Sponsors say the fact that the hearing is scheduled on the popular 4/20 cannabis holiday is a coincidence....
NBA Legend Isiah Thomas Invests $3 Million in Cannabis Company
One World Pharma Inc. (OTC: OWPC), a U.S. based, fully licensed, pure-play hemp and cannabis ingredient producer in Colombia, is announced an agreement with ISIAH International, LLC, the holding company of its CEO, NBA legend Isiah Thomas, to invest $3 million into...
Illinois Officials Say Cannabis Sales Recovered to $131 Million in March
A report released earlier this week by the Department of Financial and Professional Regulation in the state of Illinois shows that the state recorded about $131 million in legal recreational marijuana purchases in March. The state broke its annual record for marijuana...
Seven In Ten North Carolina Voters Back Medical Marijuana Legalization As Senate Reform Bill Remains Stalled
About seven out of 10 North Carolina voters support legalizing medical marijuana, and a plurality favors letting adults access cannabis for recreational use, according to a new poll. The survey from WNCT, The Hill, and Emerson College found that 68 percent of voters...
Ohio Voters Will Need To Decide On Marijuana Legalization At Ballot As Legislature Stalls, Pro-Reform GOP Lawmaker Says
If Ohio is going to legalize marijuana this year, it’s probably going to need to happen on the ballot, a GOP state lawmaker who is cosponsoring a legalization bill said last week. At an event hosted by Ohio State University on Thursday, Rep. Ron Ferguson (R) expressed...
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