Newsletter
DEA agrees to reschedule cannabis (Newsletter: May 1, 2024)
Schumer on SAFER Banking; DEA & FDA at marijuana meeting; FL gov trashes ballot measure; NC medical cannabis deal; NH legalization
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/ TOP THINGS TO KNOW
The Drug Enforcement Administration has agreed to move marijuana to Schedule III—a historic reform in line with a recommendation from health officials who determined that cannabis has medical value.
The federal decision to reschedule marijuana is receiving diverse reactions from across the spectrum—from praise for finally recognizing cannabis’s medical benefits to condemnation that it will not fulfill President Joe Biden’s campaign pledge to decriminalize.
Senate Majority Leader Chuck Schumer (D-NY) said that while the federal marijuana rescheduling decision is a “historic step forward,” he remains “strongly committed” to advancing cannabis banking and broader legalization legislation this session.
Officials with the Drug Enforcement Administration, Food and Drug Administration and other federal agencies will participate in a June meeting focused on the potential of cannabinoids and terpenes in marijuana to treat pain.
Florida Gov. Ron DeSantis (R) said he will be “getting involved” in the effort to defeat the marijuana legalization initiative on the November ballot, arguing that people won’t “be able to take your family out to dinner” without smelling cannabis.
North Carolina’s Senate president pro tempore is floating a proposal to pass a medical cannabis legalization bill by combining it with a measure to regulate intoxicating hemp products. But a Democratic senator also wants broader marijuana decriminalization provisions attached.
New Hampshire Republican gubernatorial candidate Kelly Ayotte said she would not support legalizing marijuana if elected.
- “I don’t think this helps advance…our quality of life,” the former U.S. senator and state attorney general said.
Virginia lawmakers and marijuana reform activists say Gov. Glenn Youngkin’s (R) veto of a bill to legalize recreational sales will fuel the state’s existing unregulated market for cannabis products.
/ FEDERAL
Rep. Ayanna Pressley (D-MA) tweeted, “The power of clemency is immeasurable. TY @POTUS & @VP for taking this action to address the harmful legacy of the War on Drugs. We must use clemency every chance we get to end mass incarceration & set our communities on a path to healing.”
The House bill to seal marijuana conviction records got two new cosponsors for a total of 11.
The House bill to encourage the Department of Veterans Affairs to study medical cannabis got one new cosponsor for a total of nine.
/ STATES
Michigan regulators posted a guide about how to file a complaint against a marijuana business.
Washington State regulators posted a streamlined version of a proposed marijuana social equity business scoring rubric.
California regulators announced a martijuana product recall due to inaccurate labeling.
Washington, D.C. regulators reported continued growth in the city’s medical cannabis patient registry even as sales decline.
Ohio regulators posted updated medical cannabis patient and caregiver numbers.
The Tennessee Medical Cannabis Commission will meet on Friday.
The Oregon Psilocybin Advisory Board will meet on Friday.
Nevada regulators plan to consider changes to marijuana packaging and advertising, possession and purchase limits, annual agent card costs and wholesale distribution rules on May 17.
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Marijuana Moment is tracking more than 1,400 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.
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/ LOCAL
A Wilmington, Delaware mayoral candidate is criticizing Gov. John Carney (D), who is also running for the position, for his reluctance to embrace marijuana legalization.
/ INTERNATIONAL
A shakeup of Thailand’s cabinet could have implications for cannabis reform.
/ SCIENCE & HEALTH
A study concluded that “cannabis use may benefit some adults who are reducing their opioid or stimulant use, especially during early recovery.”
A review concluded that “early evidence suggests that psilocybin therapy is well-tolerated in individuals with” anorexia nervosa.
/ ADVOCACY, OPINION & ANALYSIS
The National Consumers League published a report on the market size, popularity and growth trajectories of high THC potency products.
/ BUSINESS
Acreage Holdings, Inc. reported quarterly consolidated revenue of $52.8 million and a net loss of $35.7 million.
RIV Capital Inc. reported quarterly net revenue of $2.1 million and a net loss of $47.3 million.
KPMG is ending services to cannabis businesses, citing “elevated risk.”
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Photo courtesy of Chris Wallis // Side Pocket Images.
