Newsletter
Treasury secretary won’t make cannabis banking fix (Newsletter: March 5, 2020)
Feds study CBD as opioid alternative; Mexico committees OK legalization; Louisiana cities could vote on marijuana; Oakland psychedelic sales plan
Subscribe to receive Marijuana Moment’s newsletter in your inbox every weekday morning. It’s the best way to make sure you know which cannabis stories are shaping the day.
Your support makes Marijuana Moment possible…
There are now 1,394 cannabis-related bills moving through state legislatures and Congress for 2020 sessions.
Never let a marijuana bill catch you by surprise with exclusive access to Marijuana Moment’s custom-built cannabis legislation tracker for just $25/month.
https://www.patreon.com/marijuanamoment
/ TOP THINGS TO KNOW
Treasury Secretary Steven Mnuchin acknowledged during a House hearing that the gap between state and federal marijuana laws creates “significant problems” for banks and financial regulators, but he rejected a lawmaker’s suggestion that he take administrative action to fix it.
National Institute on Drug Abuse Director Nora Volkow discussed marijuana’s benefits and risks at a House hearing and said the federal government is funding research to investigate whether CBD can “help treat different types of addiction, including opioid addiction.”
Several Mexican Senate committees voted to approve a marijuana legalization bill.
A Louisiana representative filed legislation that would let voters decide whether to legalize marijuana locally within their cities.
Oakland, California activists recently held a meeting to begin planning a campaign to legalize the sale of psychedelics such as psilocybin, ibogaine and ayahuasca. A key focus is working with the state to ensure the city’s effort won’t be impeded.
Illinois officials reported that marijuana stores sold nearly $35 million worth of recreational cannabis products in the second month of legal sales, with more than $9 million spent by out-of-state residents.
/ FEDERAL
President Trump met at the White House with Kim Kardashian West and several women whose prison sentences he commuted.
The U.S. Department of Agriculture published an overview of Romania’s hemp market.
Rep. Ro Khanna (D-CA) tweeted, “All those who are fighting for an end to the federal prohibition of marijuana are on the right side of history.”
New Jersey Democratic congressional candidate Brigid Harrison hosted a forum about marijuana legalization.
The Senate bill to require the Department of Veterans Affairs to study medical cannabis got one new cosponsor for a total of nine.
/ STATES
Pennsylvania’s lieutenant governor tweeted, “But what about the spiking mARiJUaNA OverDoSE dEAThS?! Oh, wait- there’s Zero. Like Ever 😌. Let’s just #LegalizeIt 🙄”
The chairman of the Kentucky Senate Judiciary Committee isn’t committing to holding a hearing on a House-passed medical cannabis bill.
The Massachusetts legislature’s Joint Committee on Cannabis Policy approved a bill to create a no-interest loan fund for social equity and economic empowerment marijuana business owners. Separately, regulators will make marijuana business licensing decisions at a meeting on Thursday.
The West Virginia House Judiciary Committee blocked consideration of a bill to allow medical cannabis flower.
Here’s a look at how the Tennessee House and Senate are taking differing approaches to medical cannabis legislation.
Colorado regulators issued a public health and safety advisory about cannabis vaping products containing MCT oil.
Florida regulators finalized rules for medical cannabis edibles.
Utah regulators have a backlog of medical cannabis patient applications, leading dispensaries to turn away some would-be customers.
Georgia regulators began accepting applications for hemp processor permits.
Reciprocity provisions of New Mexico’s medical cannabis program are on hold until July.
Rhode Island lawmakers held a press conference to tout legislation to make medical cannabis more affordable for patients.
—
Marijuana Moment is already tracking more than 1,000 cannabis 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.
Learn more about our marijuana bill tracker and become a supporter on Patreon to get access.
—
/ LOCAL
Boston, Massachusetts’s mayor appointed five members to the city’s new Cannabis Board.
/ INTERNATIONAL
Honduras’s president was named by U.S. federal prosecutors as an alleged co-conspirator in a drug trafficking operation.
/ SCIENCE & HEALTH
A review concluded that “for [Alzheimer’s disease] treatment, CBD can rescue the production of neurofibrillary tangles and inhibit neuronal apoptosis” and “also promotes neuroprotection through different signal transduction pathways mediated indirectly by cannabinoid receptors.”
A study of people who microdose psychedelics found that “compared with non-microdosers, microdosers were significantly less likely to report a history of substance use disorders or anxiety disorders” and that “microdosers were also more likely to report recent recreational substance use compared with non-microdosers.”
/ ADVOCACY, OPINION & ANALYSIS
The Kentucky Democratic Party is calling out Republica lawmakers for not scheduling a Senate vote on a medical cannabis bill.
Veterans of Foreign Wars of the United States called for expanded medical cannabis research in congressional testimony.
The National Association of State Departments of Agriculture adopted policy stances in favor of extending the 2014 Farm Bill’s hemp pilot project and creating a uniform electronic data reporting system for required hemp information.
The Drug Policy Alliance is holding a convening on legal regulation of drugs next month.
/ BUSINESS
Tilray Inc.’s CEO and board are facing a lawsuit challenging the restructuring that made the company the corporate parent of Privateer Evolution LLC.
Organigram Holdings Inc. reshuffled its leadership team.
FSD Pharma Inc. will ring the opening bell at the Canadian Securities Exchange on Friday.
Canopy Growth Corp. closed two marijuana cultivation facilities in Canada, terminating roughly 150 workers.
Make sure to subscribe to get Marijuana Moment’s daily dispatch in your inbox.
