Newsletter
Hemp & marijuana biz disagree on Farm Bill (Newsletter: May 16, 2024)
GOP congresswoman praises cannabis rescheduling; German legalization amendments; DOJ ayahuasca case; NJ marijuana price caps bill; TX delta-8 ban
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/ TOP THINGS TO KNOW
With Congress set to consider a new Farm Bill, the hemp industry is at odds with some marijuana companies that find themselves aligned with prohibitionists in pushing for restrictions on intoxicating hemp-derived cannabinoids such as delta-8 THC.
Rep. Lori Chavez-DeRemer (R-OR) praised the Biden administration’s move to reschedule marijuana during a House hearing but warned Health and Human Services Secretary Xavier Becerra not to pursue broader drug decriminalization similar to Oregon’s now-repealed decrim law.
The German Bundestag is set to take up amendments to the country’s marijuana legalization law concerning impaired driving and states’ authority to set restrictions on cannabis cultivation at cooperatives this week.
The Department of Justice told a court that federal agencies’ settlement allowing a church to incorporate ayahuasca into its ceremonies is “irrelevant” to a separate case on the legal status of another psychedelic church.
The Texas Senate State Affairs Committee is set to hold a hearing this month on Lt. Gov. Dan Patrick’s (R) push to ban intoxicating hemp-derived products such as delta-8 THC.
New Jersey lawmakers filed legislation to allow regulators to set price caps on medical cannabis cultivators, manufacturers or dispensaries if they’re selling their products at a price that is “unreasonable and inconsistent” with their actual costs.
/ FEDERAL
The Food and Drug Administration will host a meeting about the use of ketamine on June 27.
Sen. John Hickenlooper (D-CO) tweeted, “What does marijuana rescheduling mean for Colorado? It’s a step in the right direction. But – JUST a step.”
Sen. Tina Smith (D-MN) tweeted, “Minnesota is leading with a one-two punch: legalization *and* expungement. Nobody’s life should be turned upside down by non-violent marijuana offenses. Passing the Cannabis Administration and Opportunity Act would federally legalize marijuana and expunge those convictions ⚖️”
Rep. Pete Sessions (R-TX) said in a House floor speech that marijuana is a “gateway to these harder drugs.”
Rep. Morgan Luttrell (R-TX) tweeted, “Psychedelic therapies provide a pathway forward that will give us the chance to save the lives of those that so graciously served our country. Proud to be a leading voice in Congress for these innovative solutions.”
/ STATES
New York Gov. Kathy Hochul (D) tweerted, “I promised to protect our communities and hard-working, legal cannabis retailers by quickly closing illegal stores. I’m proud to say that with partners like @NYCMayor, we’re getting it done.” Separately, the state’s comptroller posted a map showing how much marijuana tax revenue is going to counties across the state.
Connecticut’s attorney general reached a settlement with organizers of unlicensed cannabis markets.
A Minnesota House-Senate conference committee finalized a bill to make changes to the state’s marijuana legalization law.
The Guam legislature’s Rules Committee is set to consider a bill to prohibit employers, landlords, colleges or government agencies from testing for marijuana as a condition of employment, housing, education or government services, respectively, on Thursday.
Michigan regulators announced a recall of marijuana products that were not submitted for testing in their final form and published an advisory about the issue.
Alaska regulators repealed rules on marijuana business food safety permits.
The Illinois Medical Cannabis Advisory Board voted to add painful ovarian cyst as a qualifying condition for patients.
A Massachusetts Cannabis Control Commission member discussed the implications of federal marijuana rescheduling.
New Jersey regulators published a list of municipalities that allow marijuana businesses to operate.
Oregon regulators are accepting applications to join the Cannabis Rules Advisory Committee.
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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.
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/ LOCAL
The Sussex County, Delaware Council approved restrictions on marijuana businesses.
Seattle, Washington officials are accepting proposals to study equity in the city’s cannabis industry.
/ INTERNATIONAL
The Bahamian health and wellness minister introduced a package of medical cannabis bills.
/ SCIENCE & HEALTH
A study of cannabis-based medicines in people with multiple sclerosis found that “significant improvements were observed in health-related quality of life.”
A review concluded that “recent studies indicate that MDMA-assisted psychotherapy reduces PTSD symptoms and is generally well tolerated.”
/ ADVOCACY, OPINION & ANALYSIS
A poll of German adults found that 7 percent have bought cannabis seeds for personal cultivation since legalization was enacted and that another 11 percent plan to do so.
/ BUSINESS
Cresco Labs Inc. reported quarterly net revenue of $184.3 million and a net loss of $2.1 million.
AYR Wellness Inc. reported quarterly net revenue of $118 million and a net loss of $108.3 million.
MediPharm Labs Corp. reported quarterly revenue of C$9.8 million and a net operating loss of C$3.7 million.
atai Life Sciences reported a quarterly net loss of $27.4 million and announced that its CEO is stepping down.
A federal judge ordered I.N.S.A. to bargain with a union even though its workers voted against unionizing.
Quest Diagnostics reported that the percentage of employees in the U.S. workforce whose drug tests showed signs of tampering increased by more than six-fold in 2023 compared to the prior year.
Michigan retailers sold $278.6 million worth of legal marijuana products in April.
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