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LA House votes to decriminalize cannabis (Newsletter: May 12, 2021)
CT could hold special session on marijuana; Schumer on banking & legalization; USPTO appeal could impact cannabis & psychedelics companies
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/ TOP THINGS TO KNOW
The Louisiana House of Representatives voted to decriminalize marijuana possession. A separate bill to legalize cannabis sales is scheduled for floor consideration on Wednesday.
Senate Majority Leader Chuck Schumer (D-NY) reiterated that he does not want to pass marijuana banking legislation ahead of a broader legalization bill.
- “We’re not going to bargain against ourselves.”
Connecticut’s House speaker says marijuana legalization could be taken up in a special session if lawmakers run out of time during the regular session. Meanwhile, Gov. Ned Lamont (D) said it’s up to the legislature to merge competing cannabis bills into something he can sign.
A CBD drinks company is appealing the U.S. Patent and Trademark Office’s position that businesses can’t register products that aren’t currently legal but could be soon. The result could have huge implications for marijuana and psychedelics firms.
The Aspen, Colorado City Council discussed potential measures to decriminalize psychedelics but did not take any action—with some members saying that no local moves should be made ahead of state or federal reforms.
/ FEDERAL
Former President Donald Trump excitedly posted about a pleading in a lawsuit that he says has implications for his effort to undermine the results of last year’s presidential election but which actually concerns a local ballot measure on whether to allow marijuana businesses.
The National Institute on Drug Abuse published a blog post and a FAQ about the new standard unit of THC to be used in marijuana research.
The Government Accountability Office published a report examining the Drug Enforcement Administration’s scheduling of fentanyl-related substances.
Sen. Joni Ernst (R-IA) tweeted about visiting a hemp business.
Rep. Dwight Evans (D-PA) tweeted, “Congress needs to address the structural disadvantages impacting entrepreneurs of color and level the playing field. That means ensuring communities of color are able to share in the success of the booming cannabis industry.”
Rep. Guy Reschenthaler (R-PA) tweeted, “Governor Wolf is taking a page right out of Gov. Cuomo’s playbook: Call for legal marijuana in an attempt to make people forget about his mishandling of the pandemic. Nice try, but we won’t forget how you endangered PA seniors by forcing COVID+ patients into nursing homes.”
/ STATES
Pennsylvania Gov. Tom Wolf (D) tweeted, “It’s high time we legalize adult-use marijuana in Pennsylvania, clear the records of those found guilty of marijuana offenses, and work to restore justice to people caught up in the discriminatory war on drugs.”
Virginia Democratic gubernatorial candidate Jennifer McClellan tweeted, “I will use my executive power to pardon anyone incarcerated for a marijuana possession offense and oversee equitable marijuana licensing and entrepreneurship for Black and Brown communities.”
Michigan’s attorney general tweeted about an upcoming event aimed at helping people to expunge past marijuana and other convictions.
The Florida Department of Agriculture and Consumer Services tweeted, “Florida #Hemp has a lot to be proud of in just one year, but Floridians have even more to look forward to as this industry grows for years to come!”
The Missouri House of Representatives approved an amendment requiring regulators to disclose ownership information about medical cannabis businesses.
The Massachusetts legislatures’s Joint Committee on Cannabis Policy held a hearing on bills to address issues caused by agreements between municipalities and the marijuana businesses they host, just as new research shows localities have collected at least $2.46 million more in payments from cannabis firms than is legally required.
A New Jersey court ruled that Pepsi Bottling Company must reimburse a former employee for medical cannabis costs.
Minnesota regulators will accept petitions to add new medical cannabis qualifying conditions from June 1 through July 31
Tennessee regulators published a list of companies that are licensed to see hemp seed.
The California Cannabis Advisory Committee and its subcommittees will hold three meetings this month.
Wisconsin regulators will provide an update on hemp rules on Thursday.
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Marijuana Moment is already tracking more than 1,100 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 proposed Denver, Colorado ballot measure would increase marijuana taxes to fund pandemic research.
Boston, Massachusetts regulators are proposing to require marijuana businesses to get permission to partner with delivery services.
/ SCIENCE & HEALTH
A review concluded that “the majority of the literature reviewed demonstrated the use of cannabis by adults with chronic pain resulted in better pain control and/or fewer opioids required to control pain in this population.”
A study found that “psilocybin has promising effects on the patients with depression/anxiety even after a single dose.”
/ ADVOCACY, OPINION & ANALYSIS
A poll found that New York voters support the state’s legalization of marijuana, 67%-27%.
The South Dakota Democratic Party tweeted about a legislative move to let law enforcement agencies block police from using medical cannabis.
The Minority Cannabis Business Association announced new board members.
The Albuquerque Journal editorial board said it is important to protect medical cannabis patients’ access as recreational legalization is implemented.
The Boston Globe editorial board decried local agreements with marijuana businesses that it says are openings to corruption.
The Delaware State Chamber of Commerce published articles that are critical of social equity components in a pending marijuana legalization bill.
/ BUSINESS
Charlotte’s Web Holdings, Inc. reported quarterly revenue $23.4 million and a net loss and comprehensive loss of $13.9 million.
MedMen Enterprises Inc. reported quarterly revenue of $32 million and a net loss of $9.7 million.
Tilray, Inc. reported quarterly revenue of $31.4 million and a net loss of $341 million.
Aleafia Health Inc. reported quarterly net revenue of C$7 million and a net loss of C$11.2 million.
A federal judge granted Canopy Growth Corporation’s move to escape a class action lawsuit alleging that the company misled investors about the strength of the Canadian marijuana market.
Pabst Labs is expanding its line of cannabis-infused drinks.
HEXO Corp. established an at-the-market equity program allowing it to sell up to C$150 million worth of shares.
A subsidiary of Curaleaf International launched a range of medical cannabis products in Germany.
Schwazze launched a research and development subsidiary, Schwazze Biosciences Ltd.
Optimi Health Corp. and Numinus Wellness Inc. submitted an application for a psilocybin extract pre-clinical trial to Canadian officials.
Harborside Inc. has a new vice president of production.
/ CULTURE
Clint Eastwood is asking a federal court to issue a default judgement against Mediatonas UAB for allegedly publishing a fabricated interview showing him endorsing CBD products.
Deepak Chopra participated in a chat about marijuana.
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