Harris says DEA “bureaucracy” caused cannabis rescheduling delay (Newsletter: October 16, 2024)

WH falsely says Biden expunged marijuana records; SCOTUS CBD case arguments; Study: Cannabis ups physical activity; Bank interest from cannabiz loans

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/ TOP THINGS TO KNOW

Vice President Kamala Harris said marijuana rescheduling has not happened yet because of “bureaucracy” at the Drug Enforcement Administration that “slows things down.” She also defended her cannabis record as a prosecutor.

White House Press Secretary Karine Jean-Pierre falsely claimed that President Joe Biden has “expunged” people’s marijuana records. In fact, his cannabis pardons do not erase people’s conviction records, as the Department of Justice and the Congressional Research Service have clarified.

The U.S. Supreme Court heard oral arguments in the case of a truck driver who sued a cannabis company after he was fired over a positive drug test that he says was caused by consuming a hemp-derived CBD product falsely advertised as having “0% THC.”

A new study found that marijuana use is “significantly associated with higher prevalence of physical activity” and that “legalization of cannabis directly corresponded to greater physical activity, especially with legalized recreational cannabis.”

• “As cannabis becomes increasingly accessible through legalization, there is greater potential for people to use it to influence their physical activity… These conclusions contradict longstanding stereotypes alleging that cannabis consumers are lazy or apathetic.”

A new report from Whitney Economics, CTrust and Green Check Verified projects that as the marijuana industry grows, the capital that cannabis businesses are expected to need will translate into upwards of $2.4 billion in revenue for banks from loan interest payments over the next 10 years.

The Reason Foundation’s Michelle Morton argues in a new Marijuana Moment op-ed that instead of “rushing to impose bans and restrictions on hemp that won’t help people or the economy,” states should “impose reasonable regulations on both hemp and marijuana to ensure the quality, safety and viability of both industries.”

South Dakota’s House majority leader said if voters approve a measure to legalize marijuana possession on the November ballot, lawmakers should make a “a good faith effort to put in place a regulatory scheme” for legal sales next session.

/ FEDERAL

Vice President Kamala Harris tweeted about her support for marijuana legalization.

Sen. Ron Wyden (D-OR) tweeted about visiting a hemp beverage event, saying, “This blossoming industry needs regulation — not prohibition — to grow and give people the safe adult beverage alternatives they are looking for.”

Sen. Mike Lee (R-UT) responded to Vice President Kamala Harris’s cannabis legalization plan by tweeting, “That sounds like something one might say while under the influence of marijuana.”

/ STATES

Maryland Gov. Wes Moore (D) touted Vice President Kamala Harris’s marijuana legalization plan.

The Nebraska secretary of state’s office held a public hearing about two medical cannabis legalization initiatives on the November ballot.

A Florida representative spoke about how marijuana revenue can be used to benefit communities harmed by the war on drugs.

A North Carolina Appeals Court judge is asking the state Supreme Court to clarify if police can conduct searches based on the perceived smell of marijuana.

California’s top marijuana regulator said she “would like to see us be more aggressive” in taking steps to shut down unlicensed marijuana businesses.

Washington State regulators sent a corrected notice about action on cannabis business employee stock ownership rules.

Vermont regulators sent a reminder about deadlines for a marijuana business licensing pause.

Nevada regulators will consider marijuana business issues on Thursday.

Oregon regulators will consider changes to hemp rules on Thursday.

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/ LOCAL

New York City’s mayor tweeted, “Our new Cannabis NYC Loan Fund will make it easier for LEGAL cannabis operations to grow in our city so we don’t see anymore ILLEGAL shops in our neighborhoods. And we’re making sure the process of funding these entrepreneurs is equitable!”

Denver, Colorado officials sent guidance about common issues leading to failed marijuana business inspections.

/ INTERNATIONAL

Japanese officials released updated guidelines for THC limits in CBD products.

A cannabis club in Lower Saxony, Germany is harvesting its first plants.

/ SCIENCE & HEALTH

A study found that “topically applied nCBD cream reduced UVA-induced formation of a frequent mutagenic nuclear DNA base lesion and protected against mtDNA mutations associated with UVA-induced skin aging.”

A study found that “psilocybin reduced brain infarction and improved locomotor behavior in stroke rats.”

/ ADVOCACY, OPINION & ANALYSIS

An American Transportation Research Institute poll found that marijuana legalization is a top five concern of motor carrier enforcement personnel.

/ BUSINESS

Leafly Holdings Inc. is at risk of being delisted from the Nasdaq exchange.

Michigan retailers sold $266.9 million worth of legal marijuana products in September.

/ CULTURE

Killer Mike tweeted, “When I suggested Marijuana legalization and pathway into that industry, bourgeoisie Black people and the political class in my community scoffed.  Well thankfully the VP reintroducing this idea into the political spectrum as policy gives it a shot.”

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