Newsletter
Lawmakers react to DEA pushing cannabis rescheduling past election (Newsletter: August 29, 2024)
CA marijuana farmers markets & cannabis cafes; Rescheduling & banking; FL legalization poll; Feds fund study on psychedelics to treat meth addiction
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/ TOP THINGS TO KNOW
Rep. Earl Blumenauer (D-OR) said it is “incredibly disappointing” that the Drug Enforcement Administration has pushed a final decision on marijuana rescheduling past the election—adding that “we still have every reason to believe that it will happen before President Biden leaves office.” Other lawmakers and advocates also offered a range of differing perspectives on the announcement.
A new Congressional Research Service report says that rescheduling marijuana is “unlikely” to increase cannabis businesses’ access to banking.
- “DOJ’s proposed rescheduling of marijuana, in and of itself, is not likely to alter substantially the risk profile associated with providing financial services to state-sanctioned marijuana business.”
The California Senate amended and approved bills to let small marijuana growers sell their products directly to consumers at state-organized farmers markets and to legalize cannabis cafes. They now head back to the Assembly for concurrence on recent changes.
The National Institutes of Health is awarding a new $2.4 million federal grant to support research on the role psychedelics can play in treating methamphetamine addiction.
Another new poll shows that a majority of Florida voters support the marijuana legalization initiative on the November ballot—but that the measure has less than the 60 percent backing needed to be enacted under state law.
Cantrip CEO Adam Terry argues in a new Marijuana Moment op-ed that cannabis “will not be raised more than in a minor capacity” in the presidential election.
- “The bipartisan popularity of cannabis has made it largely a dead issue on the national stage” at a time when the parties want to focus on issues that “differentiate them from one another.”
The Oklahoma Medical Marijuana Authority is disputing claims it is failing to renew medical cannabis business licenses on time and is out of compliance with state law—saying it is now employing “robotic assistance” to help process applications more quickly.
/ FEDERAL
Assistant Secretary for Mental Health and Substance Use Miriam Delphin-Rittmon touted the Biden administration’s moves to develop “a harm reduction framework” ahead of International Overdose Awareness Day.
The Drug Enforcement Administration assisted Allen, Texas police in raids of businesses accused of illegal selling cannabis products.
The Food and Drug Administration will host a meeting to discuss efforts to accelerate treatment development for PTSD, including psychedelic drug development, on September 6.
Sen. Catherine Cortez Masto (D-NV) discussed her support for marijuana banking legislation.
/ STATES
New York Gov. Kathy Hochul (D) tweeted, “I’m not going to let illegal cannabis storefronts plague our communities and take business away from our hardworking legal dispensary owners. Our message is simple: If you operate without a license, we’ll shut you down.”
Missouri’s secretary of state again rejected emergency rules to implement a ban on intoxicating hemp products under Gov. Mike Parson’s (R) executive order. Separately, regulators published guidance on marijuana product recalls.
The Kentucky legislatures’s Interim Joint Committee on Health Services considered proposed medical cannabis rules.
A Florida senator discussed his support for the marijuana legalization initiative on the November ballot.
Maryland’s top marijuana regulator is stepping down.
Connecticut regulators filed revised marijuana rules.
Ohio regulators fined several marijuana businesses over alleged marketing rules violations.
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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
New York City’s mayor and other officials destroyed more than four tons of illegal cannabis products.
The Colorado Springs, Colorado City Council voted to place competing measures on the November ballot to ban or allow recreational marijuana sales.
/ INTERNATIONAL
A Philippine representative is pushing senators to approve a House-passed medical cannabis bill.
A Guyana lawmaker authored an op-ed about the benefits of legalizing marijuana.
/ SCIENCE & HEALTH
A study of insomnia patients found that “cognitive performance was unaffected by nightly CBD supplementation” and that “from baseline to trial conclusion, those receiving CBD reported greater experience of calmness, clear-headedness, coordination and were more likely to report side-effects of dry mouth relative to placebo.”
A review concluded that “controlled and uncontrolled clinical trials utilizing psilocybin with psychological support for major depressive disorder and treatment-resistant depression, as well as in patients with depression and cancer related anxiety have demonstrated immediate and sustained antidepressant and anxiolytic effects.”
/ ADVOCACY, OPINION & ANALYSIS
The American Transportation Research Institute included marijuana legalization as an option in a survey it is conducting about the trucking industry’s top concerns.
The Dallas Morning News editorial board is calling on Texas lawmakers to debate marijuana legalization amid the proliferation of intoxicating hemp products.
/ BUSINESS
POSaBIT Systems Corporation reported quarterly revenue of $4.3 million and a loss of $453,961.
RIV Capital Inc. reported quarterly net revenue of $3.8 million and a net loss of $8.3 million.
Ohio retailers sold $10.5 million worth of recreational marijuana products in the third week of legal sales.
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