Cannabis banking discussed at Senate & House hearings (Newsletter: February 6, 2025)

Musk: drug test federal workers; 1st marijuana bill of new Congress; HI legalization vote; New MPP leader; Study: Legal cannabis reduces opioid Rx

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/ TOP THINGS TO KNOW

Elon Musk, head of the Trump administration’s Department of Government Efficiency (DOGE), said it’s a “great idea” to mandate drug testing of federal employees despite his own use of marijuana and other drugs.

Republican and Democratic senators discussed the marijuana industry’s financial services access issues at a hearing on debanking—with one GOP lawmaker suggesting it’s time to “reexamine” federal cannabis laws broadly. The issue was also raised at a separate House hearing.

Rep. Greg Steube (R-FL) filed the first marijuana reform bill of the 119th Congress—a proposal to protect military veterans from losing government benefits for using medical cannabis in compliance with state law.

Hawaii House committees approved a marijuana legalization bill during a joint hearing, adopting several amendments and advancing the legislation toward an initial floor vote.

The Marijuana Policy Project has a new interim executive director, and she spoke to Marijuana Moment about her plans to advance cannabis reform at both the state and federal levels in 2025 and beyond.

A new federal funded study shows that “recreational cannabis legalization is associated with a decrease in opioid fills”—suggesting that broader access to marijuana can “lead to decreases in the number of new opioid users, rates of opioid use disorder and related harms.”

• “There appears to be a small shift once recreational cannabis becomes legal, but we see stronger results once users can purchase cannabis at recreational dispensaries… These results suggest that substitution of cannabis for traditional pain medications increases as  the availability of recreational cannabis increases.”

Only two Virginia Republican lawmakers voted for legislation to legalize recreational marijuana sales as Gov. Glenn Youngkin’s (R) office suggests he will veto the proposal again if it reaches his desk this year.

/ FEDERAL

The Centers for Disease Control and Prevention published resources about cannabis use and pregnancy.

Sen. Brian Schatz (D-HI) noted in a Senate floor speech that “you have places in this country that legalized medical cannabis or cannabis generally and then voted for Donald Trump.”

/ STATES

An Alabama senator filed a bill to reform the state’s medical cannabis business licensing process.

Illinois lawmakers are considering several pieces of cannabis reform legislation.

California regulators announced a recall of cannabis products due to invalid batch testing.

Massachusetts’s incoming top marijuana regulator spoke about his plans for the role.

The White Earth Nation, located within Minnesota, is preparing to open the state’s first off-reservation adult-use marijuana dispensary.

Kentucky regulators published guidance on medical cannabis advertising rules.

A University of Colorado regent is criticizing a state-funded marijuana education program as racist.

A Delaware workgroup focused on hemp products will hold its first meeting this month.

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Marijuana Moment is tracking hundreds of 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.

Learn more about our marijuana bill tracker and become a supporter on Patreon to get access.
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/ LOCAL

The Lockhart, Texas City Council voted not to implement a voter-approved local marijuana decriminalization law.

/ INTERNATIONAL

An Indian court ruled that psilocybin is not a narcotic substance.

The Antigua and Barbuda Marijuana Commission received approval to begin conducting surveys.

/ SCIENCE & HEALTH

A case study “underscores the potential of cannabidiol as a promising treatment strategy for patients with [Alpha-1,3-Mannosyltransferase-Congenital Disorder of Glycosylation] and refractory epilepsy, broadening therapeutic perspectives for this rare disorder.”

A review concluded that “psilocybin, within a supportive context, may induce antidepressant effects by leveraging the interplay between neurobiological mechanisms and common psychotherapeutic factors.”

/ ADVOCACY, OPINION & ANALYSIS

The Multidisciplinary Association for Psychedelic Studies touted a New York Times article that it says exposes “deliberate misinformation and fear-mongering” by the organization Psymposia that preceded the Food and Drug Administration’s rejection of MDMA-assisted therapy.

/ BUSINESS

Aurora Cannabis Inc. reported quarterly net revenue of C$88.2 million.

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