Newsletter
Cannabis orgs consider merging amid funding struggles (Newsletter: October 5, 2023)
USDA clears genetically engineered hemp; NY marijuana licenses & crackdown; MD & IL sales; Medical cannabis coverage for workers
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/ TOP THINGS TO KNOW
Marijuana Moment has learned that the Marijuana Policy Project and NORML are in talks about a possible merger amid ongoing funding challenges. Meanwhile, MPP’s executive director recently stepped down and the group is shifting focus toward legislatures and away from ballot initiatives.
The U.S. Department of Agriculture determined that a hemp plant genetically engineered to produce lower levels of the cannabinoids THC and cannabichromene (CBC) “may be safely grown and bred in the United States.”
New York regulators began accepting applications for a new round of marijuana business licenses to expand the legal market as Gov. Kathy Hochul (D) announced her administration is “ramping up” efforts to crack down on unlicensed sales.
The Maryland Cannabis Administration reported that retailers sold more than $90.7 million worth of legal marijuana products in September—the bulk of which was driven by record-high monthly sales to adult-use consumers. Meanwhile, medical cannabis purchases dipped.
The Illinois Department of Financial and Professional Regulation reported that retailers sold nearly 3.7 million adult-use marijuana products in September—a new monthly record. The $139.5 million sales total marked the third-highest monthly haul since the recreational cannabis market launched.
Bennabis Health and CannaCoverage are partnering to give businesses a chance to offer medical marijuana coverage as part of their workplace benefits packages to reduce out-of-pocket costs for employees who use cannabis therapeutically.
/ FEDERAL
President Joe Biden issued a proclamation declaring October to be National Youth Substance Use Prevention Month.
Sen. Ed Markey (D-MA) introduced a package of legislation to address drug issues, saying it’s time to “stop criminalizing people with substance use disorder and treat them with compassion”—though none of his bills would actually repeal federal laws that criminalize drug possession.
Sens. Cory Booker (D-NJ) and Ted Cruz (R-TX), along with several cosponsors, filed a bill to require the Government Accountability Office to investigate the online sale of counterfeit pills laced with fentanyl.
The Senate marijuana banking bill got two new cosponsors for a total of 27.
/ STATES
Illinois Gov. J.B. pritzker (D) tweeted, “In Illinois, we’ve created the nation’s most equitable, accessible, and prosperous cannabis ecosystem.”
Wisconsin’s Senate minority leader said legalizing marijuana would benefit the state’s agricultural community.
A Michigan representative introduced a bill to allow medical cannabis at schools.
Oregon regulators filed proposed changes to marijuana and hemp rules.
Members of the Connecticut Social Equity Council are expressing concerns about the distribution of marijuana-funded community reinvestment money.
The New Hampshire Therapeutic Cannabis Medical Oversight Board met.
Washington State regulators will host collaborative online discussions about cannabis samples rulemaking on Friday and Wednesday.
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Marijuana Moment is tracking more than 1,000 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.
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/ LOCAL
The Cheyenne and Rock Springs, Wyoming City Councils are considering marijuana decriminalization.
Harker Heights, Texas officials are being pushed by activists to implement a voter-approved marijuana decriminalization law.
/ INTERNATIONAL
Ireland’s chief medical officer said the amount of cannabis use in the country is “of great concern.”
Merritt, British Columbia, Canada’s mayor is criticizing the province’s drug decriminalization policy.
/ SCIENCE & HEALTH
A study concluded that “the presence of a dispensary has no significant impact on local crime in the average neighborhood” but there is “a small rise in property crime in low-income neighborhoods specifically.”
/ ADVOCACY, OPINION & ANALYSIS
A Minnesota Sheriffs’ Association official said police are looking for guidance on the intersection of marijuana legalization and gun rights.
The New York Daily News editorial board said the expansion of marijuana business licensing is an opportunity for the state to address issues with the state’s legalization rollout.
/ BUSINESS
Tilray Brands, Inc. reported quarterly net revenue of $177 million and a net loss of $55.9 million.
Hightimes Holding Corp.’s executive chairman is being charged by the Securities and Exchange Commission over an alleged fraudulent scheme to promote securities offerings.
Verano Holdings Corp. received conditional approval to list shares on the Cboe Canada exchange.
/ CULTURE
Xzibit spoke about the new marijuana podcast he is launching.
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