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Cannabis banking should move, key GOP lawmaker says (Newsletter: November 19, 2020)

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Mexico legal marijuana floor vote today; NC gov task force backs decrim; Legal cannabis got more votes than candidates; Madison will allow public use

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/ TOP THINGS TO KNOW

Sen. Pat Toomey (R-PA), who will chair the Senate Banking Committee if Republicans maintain their majority in the chamber, said that marijuana banking legislation is “something we should work on.” It has passed the House three times but has stalled under the current Senate chair.

Mexican Senate committees voted to formally approve a marijuana legalization bill, with a full floor vote expected as soon as Thursday.

A racial equity task force convened by North Carolina Gov. Roy Cooper (D) recommended that the state decriminalize marijuana and study broader cannabis legalization. The state attorney general and several police chiefs and sheriffs are on the panel.

  • “You cannot talk about improving racial equity in our criminal justice system without talking about marijuana. White and Black North Carolinians use marijuana at similar rates, yet Black people are disproportionately arrested and sentenced.”

The Madison, Wisconsin Common Council unanimously voted to allow marijuana use in public without any local penalty.

  • “It’s preposterous and outrageous that the Wisconsin state legislature has not moved long ago toward legal and regulated adult use of cannabis, like so many other states have across the country, including many of our neighboring states.”

A Marijuana Moment analysis of election results shows that cannabis legalization and drug policy reform measures in several states  got more votes than President-elect Joe Biden, President Donald Trump and other major politicians.

/ FEDERAL

Here’s a look at the backgrounds of members of the Biden-Harris transition review team for the White House office of National Drug Control Policy.

The Drug Enforcement Administration pushed back against a court filing seeking to access internal documents about its proposed hemp regulations.

Rep. Jimmy Gomez (D-CA) inserted remarks into the Congressional Record recognizing the phytocannabinoids life science company Full Spectrum Omega.

Rep. Barbara Lee (D-CA) tweeted, “The special examines marijuana’s cultural, social, & economic impact on the Black community & the need for restorative justice.”

Rep. Earl Blumenauer (D-OR) tweeted that Chicago, Illinois cancelling layoffs due to marijuana revenue is “another example for why we must give states and cities the green-light for cannabis businesses and the revenue that will flow. The MORE Act will get the federal government out of the way, letting them legalize, regulate to protect children, and tax to strengthen local services.”

/ STATES

Utah’s state auditor identified potential problems with regulators’ medical cannabis cultivation license approval process.

New Jersey lawmakers and Gov. Phil Murphy (D) reached an agreement to remove marijuana cultivation licensing caps, with committee votes expected on Thursday.

New Mexico regulators announced that the state’s medical cannabis program now has more than 100,000 patients.

Michigan regulators began accepting marijuana social equity business applications and will host a workshop on the program on Thursday.

Louisiana regulators are accepting hemp license applications for 2021.

Minnesota regulators are accepting hemp license applications.

Alaska marijuana tax revenue is up this year.

Kentucky officials shut down a hemp processing facility over complaints about odor.

Virginia’s Medical Cannabis Workgroup met.

A Wyoming Republican representative is drafting medical cannabis and marijuana decriminalization bills.

The Oregon Cannabis Commission’s Patient Equity Subcommittee will meet on December 1.


Marijuana Moment is already tracking more than 1,500 cannabis 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.

/ LOCAL

The Laredo, Texas City Council is considering enacting a cite-and-release policy for marijuana possession and other low-level offenses.

/ INTERNATIONAL

The mayor of Vancouver, British Columbia, Canada is calling for the decriminalization of drug possession.

/ SCIENCE & HEALTH

Case studies found that “cannabinoid products showed significant improvements in behavior” in treating frontotemporal dementia.

A study concluded that “storage of whole inflorescences and extracts dissolved in olive oil, at 4°C, were the optimal postharvest conditions for cannabis.”

/ ADVOCACY, OPINION & ANALYSIS

A poll of U.S. adults found that 53% say “money and effort should go to addressing social and economic problems such as drug addiction, homelessness and mental health” and 34% say “more money and effort should go to strengthening law enforcement.”

The Drug Policy Alliance outlined its priorities for the first 100 days of the Biden administration.

The Navy Seal Foundation donated $50,000 to support research into MDMA as a treatment for PTSD.

The Arizona Dispensaries Association elected a new board of directors.

/ BUSINESS

Cresco Labs Inc. reported quarterly revenue of $153.3 million and net income of $4.9 million.

TILT Holdings Inc. reported  $40.4 million in quarterly revenue and a loss of $4.6 million.

Harborside Inc. reported $19.6 million in gross quarterly revenue.

Vertical Wellness acquired The Organic Candy Factory in a stock transaction.

/ CULTURE

Former basketball player Matt Barnes became an advisor to Eaze’s board of directors.

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Photo courtesy of Brian Shamblen.

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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 Marijuana.com and MassRoots, and handled media relations and campaigns for Law Enforcement Against Prohibition and Students for Sensible Drug Policy.

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