Newsletter
Illinois cannabis banking bill filed (Newsletter: November 13, 2019)
Kamala Harris jokes about CBD body rubs; Senator tours marijuana chocolate factory; USDA gets hundreds of hemp comments
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/ TOP THINGS TO KNOW
Sen. Kamala Harris (D-CA), a presidential candidate, made a joke about CBD body rubs while making a more serious point about the need for equity in the marijuana industry.
- “Let’s talk about CBD, right? All these products, right? That are all of a sudden going to relieve every problem I have, because I’m going to rub it all over my body, right?”
Sen. Ron Wyden (D-OR) toured a marijuana-infused chocolate factory operated by Grön Cannabis Confections.
- “I will keep fighting for this growth industry so it can continue to generate jobs in Oregon and nationwide.”
An Illinois representative filed a bill that would allow marijuana businesses to access some basic banking services and create “special purpose checks” that cannabis operators could use to pay taxes and rent.
More than 500 people have already submitted official comments on the U.S. Department of Agriculture’s proposed hemp regulations, weighing in on issues relating to THC testing, “hot” hemp disposal procedures, the implementation of a ban on participation by people with felony drug convictions and more.
/ FEDERAL
Former Veterans Affairs Sec. David Shulkin again spoke in support of medical cannabis research that the department blocked under his leadership.
Sen. Angus King (I-VT) tweeted, “Maine’s hemp farmers are building businesses the right (and legal) way, but outdated federal regulations are blocking their access to vital financial services. This is backwards – we should be encouraging new businesses, not holding them back.”
Rep. Barbara Lee (D-CA) tweeted, “#Veterans and their doctors should be empowered to make informed decisions about medical marijuana without political interference. My Veterans Medical Marijuana Safe Harbor Act would allow veterans to use medicinal marijuana in states where it’s legal.”
Rep. Earl Blumenauer (D-OR) said in a Veterans Day message that “protecting care for our wounded warriors and giving vets recovering from PTSD and chronic pain safer alternatives to opioids through medical cannabis should be a top priority.”
/ STATES
Georgia Gov. Brian Kemp (R), the lieutenant governor and the House speaker appointed members to a body charged with expanding the state’s medical cannabis program.
Massachusetts regulators issued a quarantine order on all marijuana vaping products except for devices intended for vaping medical cannabis flower.
The Wisconsin Assembly approved a bill aligning the state’s hemp regulations with new proposed federal rules.
The Colorado Supreme Court ruled against doctors who challenged state investigations into their medical cannabis recommendation practices.
Illinois lawmakers are considering legislation to undo a lifetime ban on legislators and their immediate family members from investing in marijuana stocks or owning cannabis business licenses that was mistakenly included in the legalization bill.
A proposed Florida marijuana legalization ballot measure raised more than $1 million in donations from MedMen and Surterra, while a competing measure received a $5,000 contribution from a Trulieve official.
The California Legislative Analyst’s Office estimated that a proposed psilocybin decriminalization ballot measure would reduce criminal justice costs by a sum “not likely to exceed a few million dollars annually” and could potentially raise some revenues.
A Connecticut representative hosted a press conference to discuss opposition to federal marijuana banking legislation.
Ohio’s Medical Marijuana Advisory Committee will meet on December 12.
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/ LOCAL
The El Paso, Texas City Council voted to take steps toward implementing a policy to let police issue citations instead of make arrests in marijuana possession cases.
/ INTERNATIONAL
Canadian Securities Administrators issued guidance warning the cannabis industry about “deficient” corporate governance disclosures.
/ SCIENCE & HEALTH
A study found that “cannabinoids exhibit antibacterial activity against MRSA, inhibit its ability to form biofilms and eradicate stationary phase cells persistent to antibiotics.”
A review concluded that “large-scale surveys suggest that cannabis may be effective in reducing anxiety, however, these results stand in contrast to equivocal findings from clinical trials.”
A study found that “CBD promoted cell death in gastric cancer.”
/ ADVOCACY, OPINION & ANALYSIS
Drug Policy Alliance Executive Director Maria McFarland Sanchez-Moreno spoke about the organization’s recent restructuring and layoffs in an interview at its biennial conference.
Texas Veterans for Medical Marijuana was barred from participating in Austin’s Veterans Day parade.
The Chicago Tribune editorial board is urging people to be cautious about marijuana vaping as legalization comes online in Illinois.
/ BUSINESS
Leafly launched a program to assess and certify marijuana testing labs for accuracy and quality.
Terrapin Care Station announced a guaranteed $15/hour minimum wage for all employees.
Acreage Holdings, Inc. reported quarterly revenue of $22.4 million.
Tilray, Inc. reported $51.1 million in quarterly revenue.
Cronos Group Inc. reported $12.7 million in quarterly revenue.
4Front Ventures Corp. announced preliminary quarterly revenue of $16.9 million.
/ CULTURE
Family Feud had a question about where grandma hides her marijuana stash.
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