Harris’s VP pick signed cannabis legalization into law (Newsletter: August 7, 2024)
Marijuana IndustryMarijuana Industry News August 7, 2024 MJ Shareholders 0
Senate panel keeps blocking DC marijuana sales; OH GOP lawmaker buys legal cannabis on 1st day; Marijuana for orgasms; MDMA & PTSD study
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/ TOP THINGS TO KNOW
Democratic vice presidential candidate Tim Walz signed a marijuana legalization bill into law in Minnesota—and also approved legislation to decriminalize drug paraphernalia, allow safe consumption sites and create a psychedelics task force. While serving in Congress, he sponsored the first-ever standalone cannabis reform bill to clear a committee.
- This is the first time in U.S. history that a major party presidential ticket includes two candidates who both back legalizing marijuana.
The Senate Appropriations Committee voted to continue blocking Washington, D.C. from legalizing recreational marijuana sales—but the panel is also criticizing how the Schedule I status of cannabis and psychedelics impedes research.
Ohio recreational marijuana sales officially launched—and a Republican state lawmaker made one of the first legal purchases, choosing some cannabis products from Willie Nelson’s brand.
Officials in half a dozen more states are considering petitions to add female orgasmic disorder as a medical cannabis qualifying condition—following preliminary approval for the treatment in Connecticut and Illinois.
A new scientific review concluded that “five out of six reviewed studies provide evidence for the apparent safety and efficacy of MDMA-[assisted therapy]”—but that “there is not yet sufficient evidence” for “widespread adoption over current, validated forms of treatment” for PTSD.
Minnesota lawmakers who sponsored the state’s marijuana legalization law say they will revisit expungement provisions that are inadvertently making it harder for people with cannabis convictions to prove social equity business status.
A Maine lawmaker says that concerns from the state’s top marijuana regulator about a new law removing requirements to individually label cannabis-infused gummies amount to “Reefer Madness 2.0.”
/ FEDERAL
American citizen Marc Fogel, who is jailed in Russia for possessing medical cannabis he used as an opioid alternative, said that being left out of a recent prisoner swap negotiated by the Biden administration feels like a “bottomless pit and it keeps getting worse.”
Sens. Chris Van Hollen (D-MD) and Ben Cardin (D-MD) sent a press release touting a spending bill provision that protects state medical cannabis laws from federal interference.
Reps. Jack Bergman (R-MI) and Dan Crenshaw (R-TX) discussed their support for psychedelic-assisted therapy.
/ STATES
Oklahoma’s attorney general said new medical cannabis rules will help crack down on illicit marijuana operations.
Nebraska lawmakers voiced differing views on whether marijuana legalization should be part of a property tax relief plan.
The Florida marijuana legalization campaign received more than $116,000 in contributions in the final week of July.
A Wisconsin judge authored an op-ed expressing concerns about marijuana legalization.
New York regulators approved additional marijuana business licenses and took action on proposed rules for cannabis business applicants who want to apply for a public convenience and advantage waiver exemption of buffer distances requirements for distance between dispensaries.
Oregon regulators filed changes to rules on how marijuana retailers can obtain an extension for tax compliance.
Michigan regulators published updated marijuana business disciplinary guidelines.
California officials will soon be accepting applications for the cannabis-funded Community Reinvestment Grants program.
New Jersey regulators posted a podcast about safety and compliance in the cannabis industry.
Vermont regulators will hold a cannabis manufacturer roundtable on Wednesday.
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/ INTERNATIONAL
Berlin, Germany officials have delayed processing cannabis club applications.
/ SCIENCE & HEALTH
A study found that “current cannabis use was associated with lower [body mass index], but cumulative cannabis use and cessation were not,” suggesting that “the association between current cannabis use and lower BMI is likely due to residual confounding.”
A study of mice concluded that “inhaled CBD could alleviate the fentanyl addiction and regulate neuroinflammatory responses.”
/ ADVOCACY, OPINION & ANALYSIS
The Democratic National Committee tweeted, “The Biden-Harris administration is committed to addressing our nation’s failed approach to marijuana by reclassifying how marijuana is scheduled under federal law and pardoning all prior offenses of simple marijuana possession. This is progress.”
/ BUSINESS
Trulieve Cannabis Corp. reported quarterly revenue of $303.4 million and a net loss of $12.3 million.
Innovative Industrial Properties, Inc. reported quarterly revenue of $79.8 million.
Hightimes Holding Corp. is facing a class action lawsuit from investors.
/ CULTURE
Jack Black discussed using psychedelics and cocaine during his youth.
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