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Cannabis banking included in key funding bill (Newsletter: June 5, 2024)



House passes marijuana & psychedelics amendments; Senators push SBA aid for industry; NH cannabis deal; Study: Legalization boosts college enrollment

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The House of Representatives passed amendments to let Department of Veterans Affairs doctors issue medical cannabis recommendations and to encourage psychedelics research and access.

A funding bill from a House Appropriations subcommittee chaired by Rep. Dave Joyce (R-OH) includes a marijuana banking provision and would delete a longstanding rider that has blocked Washington, D.C. from legalizing recreational cannabis sales.

Sen. Jacky Rosen (D-NV) led a group of 10 Democratic senators in asking the Senate Appropriations Committee to include provisions in an upcoming spending bill to allow the marijuana industry to access Small Business Administration loans and entrepreneurial development programs.

New Hampshire House lawmakers proposed a marijuana legalization compromise to Senate negotiators on a conference committee, with senators now considering the offer ahead of a Wednesday meeting.

A new study found that legalizing marijuana “increases [college] enrollments…and it boosts college competitiveness by offering a positive amenity, as evidenced by the rise in out-of-state enrollments.” There’s also a “notable positive impact on graduation rates.”

  • “States may use the additional tax revenue from marijuana sales to subsidize their higher education sector.”

The Texas Senate State Affairs Committee held a wide-ranging hearing on the lieutenant governor’s push to ban intoxicating hemp products, with discussion also touching on the state’s limited medical cannabis program and the push to more broadly legalize marijuana.


A juror in the federal trial of President Joe Biden’s son Hunter Biden, who is facing charges of allegedly lying about his drug use on a gun purchase form, said, “weed to me isn’t as bad as other drugs.”

The Food and Drug Administration’s Psychopharmacologic Drugs Advisory Committee rejected a proposal to approve MDMA-assisted therapy for PTSD.

Rep. Morgan Luttrell (R-TX) said the Food and Drug Administration’s holding a hearing to consider approving MDMA-assisted therapy is a “major step forward in getting these emerging therapies in our toolbox for veterans.”


Ohio Gov. Mike DeWine (R) is urging lawmakers to pass legislation restricting intoxicating hemp products and public marijuana usage.

A new Maryland law to prohibit local governments from imposing stringent zoning restrictions on marijuana businesses took effect on June 1.

California regulators announced a mandatory recall of marijuana products due to the presence of aspergillus and inaccurate labeling.

Utah regulators filed proposed changes to medical cannabis and hemp rules.

Alabama regulators posted revised medical cannabis patient and caregiver rules.

A federal judge rejected a lawsuit challenging Washington State’s marijuana business license residency requirements. Separately, regulators are conducting a survey about proposed changes to cannabis payment rules.

Pennsylvania regulators posted an update on the medical cannabis program.

Vermont regulators sent a reminder about rules for the use of pesticides on cannabis.

Arkansas regulators will consider an appeal of the revocation of a medical cannabis business license over several alleged violations on June 12.

Marijuana Moment is tracking more than 1,500 cannabis, psychedelics and drug policy bills in state legislatures and Congress this year. Patreon supporters pledging at least $25/month get access to our interactive maps, charts and hearing calendar so they don’t miss any developments.

Learn more about our marijuana bill tracker and become a supporter on Patreon to get access.


Oakland, California’s Cannabis Regulatory Commission will meet on Thursday.


Italy’s agriculture minister scoffed at people who use so-called “cannabis light,” saying that if someone is going to consume marijuana they should “do it right.”

The Parole Board of Canada says only 845 pardons for cannabis possession have been granted since legalization was enacted.

Zimbabwe’s Tobacco Research Board is examining the potential of cannabis cultivation as a tobacco alternative.


A study suggested that “treatment with full-spectrum CBD-dominant extract may be a safe and effective option for core and comorbid symptoms of [autism spectrum disorder], and it may also increase overall quality of life for individuals with ASD and their families.”

A study found that “driving impairment was not correlated with blood THC.”


Green Thumb Industries’s CEO reportedly sent a letter seeking to discuss a potential merger with Boston Beer.

Canopy Growth Corporation exercised an option to acquire shares of Acreage Holdings, Inc., clearing the way for Acreage to become a wholly-owned subsidiary of Canopy USA.

Indiva Limited provided an update on its loan with SNDL Inc. and about a strategic review it is conducting.

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Tom Angell is the editor of Marijuana Moment. A 20-year veteran in the cannabis law reform movement, he covers the policy and politics of marijuana. Separately, he founded the nonprofit Marijuana Majority. Previously he reported for and MassRoots, and handled media relations and campaigns for Law Enforcement Against Prohibition and Students for Sensible Drug Policy.


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