Illinois lawmakers last week joined representatives of the licensed cannabis industry to call for a ban on intoxicating hemp products including delta-8 THC. Under one proposal, non-intoxicating hemp products would be regulated with rules for licensing hemp businesses and the testing and labeling of hemp products. Synthetically produced hemp products such as delta-8 THC, however, would be banned by the legislation.

The 2018 Farm Bill legalized hemp agriculture and hemp products, ending the prohibition of the crop that had been in place for decades. However, the legislation failed to regulate hemp cannabinoids, leading to a proliferation of intoxicating hemp products such as delta-8. As a result, intoxicating hemp products are widely sold at unregulated outlets such as convenience stores, gas stations and smoke shops, often without any age restrictions or regulatory oversight.

State Representative Eva-Dina Delgado, the mother of a teen, said at a press conference on Thursday that young people are buying intoxicating hemp products from local and call the use of them “greening out.”

“It scares me to my core to think about young people putting that in their bodies and we just have no idea what’s in it,” she said.

Many states have been implementing legislation to regulate hemp products, with some calling for a ban on delta-8 and similar intoxicating cannabinoids. At a press conference at the Illinois Capitol in Springfield on Thursday, lawmakers, regulators and owners of licensed cannabis businesses unveiled a proposal to regulate hemp products. Under the proposal, Senate Bill 3926, hemp products such as CBD could be produced by licensed businesses complying with testing and labeling requirements. Synthetically produced cannabinoids such as delta-8 would be banned.

“The goal of this legislation is to empower consumers ensuring that they know exactly what they’re consuming and what they are,” Tiffany Chappell Ingram, the executive director of the Cannabis Business Association of Illinois, said at last week’s press conference. “We also want to protect the public health and maintain the integrity of our state’s long-fought-for legal cannabis industry, which is undermined by these unregulated products.”

Delta-8 Products Copy Popular Brands

A table at the news conference was filled with delta-8 products including candy and snacks purchased at unregulated outlets that proponents of the bill say pose a danger to young people. Many of the products were designed to imitate popular brands, including one bag of corn chips labeled “Fritos” which had small cannabis leaves on the products.

“Without regulation, we have no idea what is really in these products,” Joseph Friedman, the former CEO of the former cannabis dispensary PDI Medical, said during Thursday’s press conference. “That should be concerning to us all, especially since some of these intoxicating products are chemically modified, and widely available to young folks, teenagers and kids.”

The legislation includes provisions to penalize those who violate its hemp regulations. A first offense would be subject to a fine of $1,000, while a second offense within three years would carry a fine of $5,000. Subsequent violations of the legislation within three years would be assessed a fine of $10,000.

Ron Miller, a co-owner of his family-run licensed cannabis businesses Navada Labs and BLYSS Dispensary, said that allowing unregulated intoxicating hemp products amounts to unfair competition for the regulated marijuana industry.

“It is deeply disheartening and, frankly, a betrayal by the state to allow these shops to pop up and call themselves dispensaries,” Miller said at the news conference on Thursday, according to a report from Capitol News Illinois.

State Senator Celina Villanueva warned about the potential impact on Illinois residents if the state does not adopt regulations to govern hemp products.

“Without proper oversight, consumers are left vulnerable to a myriad of risks from unknowingly consuming products with inaccurate THC levels to encountering harmful contaminants,” Villanueva said. “The absence of regulation leaves too much to chance.” 

Illinois Hemp Companies Oppose Legislation

After last week’s press conference, those opposed to the legislation argued their case. Charles Wu, a co-founder of Chi’Tiva, a business with hemp stores in the Illinois cities of Chicago and Worth, said the proposed ban was a “money play” to eliminate competition.

“We want to operate responsibly and on a level playing field,” Wu told the Chicago Tribune. “This would put us out of business.”

State Representative La Shawn Ford has introduced alternative legislation that would allow the sale of intoxicating hemp products. However, the bill requires such products to be tested, labeled and taxed. Banning intoxicating hemp products, the lawmaker said, only creates an unregulated market for them.

“This is so strange and hypocritical,” Ford said. “Just because you ban a product doesn’t mean it’s going away. We need to tax and regulate it.”

Senate Bill 3926 was introduced on April 10 and has been referred to the Senate Assignments Committee. Ford’s bill was assigned to the House Rules Committee in October.

An Illinois state senator recently introduced a bill to legalize the supervised therapeutic use of psilocybin, the primary psychedelic compound in magic mushrooms. The legislation, known as the Compassionate Use and Research of Entheogens (CURE) Act, was introduced by Democratic Senator Rachel Ventura earlier this month.

If passed, the legislation (Senate Bill 3695) would legalize the supervised therapeutic use of psilocybin for adults. The bill is an attempt to provide new alternative options for treatment-resistant conditions such as anxiety, depression, PTSD, substance abuse, eating disorders and other serious mental health conditions.

“As mental health concerns rise throughout our state and nation, it’s imperative to acknowledge that conventional treatments don’t always suffice,” Ventura said in a statement on February 14. “Psilocybin shows promise as a potential solution, particularly for those grappling with PTSD and other mental health disorders. The ongoing research and trials have yielded encouraging results.”

Although the legislation legalizes supervised psychedelic therapy, it does not allow for the sale, use, or personal possession of the drug. The bill would also establish the Illinois Psilocybin Advisory Board under the Department of Financial and Professional Regulation. The new state agency would create a training program, ethical standards and licensing requirements for psilocybin therapy practitioners.

“At the current pace, demand for therapeutic psychedelic experiences and retreats is far outpacing the supply of psychedelic guides, therapists and practitioners. We are asking that lawmakers in Illinois not let unnecessary barriers stand in the way of safe, compassionate access and quality assurance for psychedelic healing,” said Jean Lacy, founder of the Illinois Psychedelic Society. “Illinois has the opportunity to be a standard-setter for other states, creating training centers, developing standards of care, and providing a model for other states to follow. Illinois’ mental health crisis is growing and there are serious consequences to withholding these medicines from those who need it.”

FDA Designates Psilocybin As A Breakthrough Therapy

The U.S. Food and Drug Administration designated psilocybin treatment as a breakthrough therapy in 2018, indicating that the therapy has the potential to be a substantial improvement over existing options. Last year, the agency published its first draft guidance on clinical trials for psychedelics in a further indication of the progress being made exploring the potential of psilocybin and other psychedelic compounds to have a profound impact on the treatment of mental illness.

In 2021, Oregon became the first state to legalize the therapeutic use of psilocybin, followed by the passage of a similar measure by Colorado voters in 2022. Legislators in more conservative states are also taking action to reform psychedelics laws, including the approval of a psilocybin medical research bill by an Indiana Senate committee earlier this year.

Democratic Representative LaShawn Ford introduced similar legislation (House Bill 1) in the Illinois House of Representatives last year. Ford and Ventura are now working together “to develop robust legislation” to legalize psilocybin therapy in Illinois. The Senate bill is co-sponsored by fellow Democrats Senator Willie Preston and Senator Mike Porfirio. In the House, Representatives Jonathan Carroll, Harry Benton, and Kelly Cassidy, also all Democrats, have signed on as co-sponsors of the legislation.

The Law Enforcement Action Partnership (LEAP), a nonprofit organization made up of current and former law enforcement professionals advocating for the reform of drug prohibition laws, issued a statement in support of the CURE Act last week.

“Law Enforcement Action Partnership recognizes this bill as nothing short of life-saving. Providing a proven means for people to work through their traumas and live happier, healthier, and more productive lives,” said Dave Franco, a retired Chicago police officer. “The benefits for mental and behavioral health can also have sizable impacts on community health and public safety.”

Senate Bill 3695 was filed by Ventura on February 9. The measure has not yet been assigned to a legislative committee for consideration.

Governors across America are tired of waiting for President Joe Biden to fulfill his goal to swiftly determine if the country should reschedule cannabis at the federal level—leading six of them to urge the president in a letter to do something after months of inaction.

Colorado Gov. Jared Polis, Illinois Gov. J.B. Pritzker, Louisiana Gov. John Bel Edwards, Maryland Gov. Wes Moore, New York Gov. Kathy Hochul, and New Jersey Gov. Phil Murphy urged the president to take action in a letter dated Dec. 5, given that it’s been 10 years since the first states legalized adult-use pot (starting with Colorado and Washington).

Polis led the effort to send the Biden administration the letter. The Governors applauded the president for reconsidering the classification of cannabis and encouraged the federal government to reschedule cannabis. Polis expressed the Governors’ hope that the Drug Enforcement Administration (DEA) will reschedule cannabis from Schedule I to Schedule III this year. 

This is What Americans Want

Americans overwhelmingly support legal cannabis, Pew Research found. Nearly 88% of Americans said they are in favor of legalization for medical and adult-use cannabis. Doing so, they said, would rectify cannabis’s outdated classification, which is long overdue and puts small businesses and public safety at risk. 

“This decision by a leading federal health agency comes on the heels of 38 states creating their own state markets and complementary regulatory systems. In some cases, these state regimes have thrived for more than a decade, and this recommendation by FDA is a real testament to their success. It’s a signal that FDA and the Department of Health and Human Services [HHS] have faith in state regulators and the regulations that they have promulgated to keep citizens safe,” the Governors wrote.

The DEA only adheres to its own analysis, however, and is not necessarily bound by the HHS’s recommendation, Reuters reported, though many other experts predicted the DEA would act on their recommendation. Only a major administrative action or an act of Congress could create major change towards ending the prohibition of cannabis.

They acknowledged the enormous impact federal law has upon cannabis businesses, forcing them to do business in cash, and also putting them at risk for violent crime, which High Times has documented again and again.

“Economically, rescheduling to Schedule III will alleviate restrictions of Section 280E of the

Internal Revenue Code, allowing cannabis-related businesses to take ordinary business

deductions—just like every other American business,” the letter reads. “Economists estimate that this will save$1.8 billion per year by shifting cannabis companies to a standard federal corporate rate of 21% versus the up to 80% effective tax rate they face now.”

A Cash-Only Business

Rescheduling pot would allow cannabis-related businesses to take ordinary tax deductions, like any other business, and it would not only alleviate financial and safety concerns for businesses but allow the cannabis industry to play a full role in the American business landscape. 

Regulated cannabis that undergoes lab-testing, etc. is safer than alternatives and has been linked to reduced rates of opioid abuse, opioid-related hospitalizations, traffic fatalities, drug treatment admissions, and overdose deaths. 

“There is, and will continue to be, a significant consumer demand for cannabis. That fact will not change regardless of the public policy choices that we make.” The Governors wrote So, it seems obvious and sensible to us to make cannabis as safe as it can be for adult consumers while simultaneously protecting our children. The state-regulated marketplace does just that. If the state-legal marketplace doesn’t survive, then we will see unsafe products on every street corner,” the Governors continued.

Stocks soared as Biden released an announcement on Oct. 6, 2022, urging the of Health and Human Services and the Attorney General to consider reclassifying pot, which was the first indicator that it could actually happen.

“I am asking the Secretary of Health and Human Services and the Attorney General to initiate the administrative process to review expeditiously how marijuana is scheduled under federal law.  Federal law currently classifies marijuana in Schedule I of the Controlled Substances Act, the classification meant for the most dangerous substances.  This is the same schedule as for heroin and LSD, and even higher than the classification of fentanyl and methamphetamine – the drugs that are driving our overdose epidemic. 

Several months ago, Polis sent a letter to Biden on Sept. 5 regarding the U.S. Department of Health and Human Services’ (HHS) recommendation for the Drug Enforcement Administration (DEA) to reschedule cannabis from a Schedule I substance to a Schedule III substance.

“We are pleased to hear that you have recently received Health and Human Services’s (HHS) recommendation to move cannabis to Schedule III,” Polis wrote in his letter. “It’s about time.”

NORWOOD, Mass., Oct. 11, 2023 (GLOBE NEWSWIRE) — MariMed Inc. (“MariMed” or the “Company”) (CSE: MRMD) (OTCQX: MRMD), a leading multi-state cannabis operator focused on improving lives every day, today announced the opening of an adult-use Thrive dispensary in Casey, Illinois. This opening marks the fifth operational dispensary in Illinois, and the 12^th dispensary that MariMed owns or manages across five states.

The dispensary, which is the first in Clark county, is located at 912 N. State Highway 49 in Casey, Illinois. Casey is in eastern Illinois at the intersection of state Highway 49 and U.S. Interstate 70. Located just 30 miles from the Indiana border, Thrive Casey is the closest dispensary to that state, which has not passed a legal marijuana program.

Casey is known as the Big Things Small Town, and is home to nearly 30 “World’s Largest” and “Big Things,” including 12 that are included in the Guiness Book of World Records. Among the records are the World’s Largest Rocking Chair and Mailbox.

“We have high hopes for the Thrive dispensary location in Casey,” said Rosie Naumovski, MariMed’s General Manager for the state of Illinois. “It’s ideally located just off Interstate 70, close to the Indiana border and with no other dispensaries within a 30-minute drive. We are also excited to contribute to Casey’s culture as the home of big things. After all, MariMed is the company that created the World’s Largest Pot Brownie!”

With the full support and encouragement of Illinois regulators and Casey’s city council, the new Thrive dispensary will temporarily operate in a converted mobile bank until construction of the permanent dispensary is completed. The Thrive dispensary in Casey will be managed by MariMed under a Managed Servies Agreement until the license transfer is approved by the Illinois Cannabis Control Office. The Company also operates Thrive dispensary locations in Anna, Harrisburg, Metropolis, and Mount Vernon, Illinois.

In addition to its retail operations, MariMed continues to build its processing and cultivation facility in Mt. Vernon, Illinois. The processing facility is expected to open during the fourth quarter, at which time MariMed will produce its award-winning edibles and sell them through its retail and new wholesale channels. The Company expects the cultivation facility construction to be completed in early 2024.

About MariMed
MariMed Inc., a multi-state cannabis operator, is dedicated to improving lives every day through its high-quality products, its actions, and its values. The Company develops, owns, and manages seed to sale state-licensed cannabis facilities, which are models of excellence in horticultural principles, cannabis cultivation, cannabis-infused products, and dispensary operations. MariMed has an experienced management team that has produced consistent growth and success for the Company and its managed business units. Proprietary formulations created by the Company’s technicians are embedded in its top-selling and award-winning products and brands, including Betty’s Eddies, Nature’s Heritage, InHouse, Bubby’s Baked, K Fusion, Kalm Fusion, and Vibations: High + Energy, which trademarks of MariMed Inc. For additional information, visit www.marimedinc.com.

For MariMed Investors
Certain statements made in this press release that are not based on historical information are forward-looking statements which are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. This press release contains express or implied forward-looking statements relating to, among other things, MariMed Inc.’s expectations concerning management’s plans, objectives and strategies, including its plans to continue to expand its footprint in the Commonwealth of Massachusetts to the maximum allowed by state regulations. These statements are neither promises nor guarantees but are subject to a variety of risks and uncertainties, many of which are beyond our control, which could cause actual results to differ materially from those contemplated in these forward-looking statements. Existing and prospective investors are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof. MariMed undertakes no obligation to update or revise the information contained in this press release, whether as a result of new information, future events or circumstances or otherwise. For additional disclosure regarding these and other risks faced by MariMed, see the disclosure contained in our public filings with the Securities and Exchange Commission including, without limitation, our most recent Annual Report on Form 10-K.

Investor Relations Contact:
Steve West
Vice President, Investor Relations
Email: ir@marimedinc.com
Phone: (781) 277-0007

Company Contact:
Howard Schacter
Chief Communications Officer
Email: hschacter@marimedinc.com
Phone: (781) 277-0007

This article was published by CFN Enterprises Inc. (OTCQB: CNFN), owner and operator of CFN Media, the industry’s leading agency and digital financial media network dedicated to the burgeoning CBD and legal cannabis industries. Call +1 (833) 420-CNFN for more information.

About Ryan Allway

Mr. Allway has over a decade of experience in the financial markets as both a private investor and financial journalist. He has been actively involved in the cannabis industry since its inception, covering public and private companies.

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