Congressional report on marijuana economics; OH gov pushes legalization changes; Ramaswamy explains cannabis vote; VA marijuana outlook
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Top Things to Know
Karine Jean-Pierre, White House Press Secretary, said that President Joe Biden’s position on marijuana has not changed since Ohio legalized it.
Senate Majority leader Chuck Schumer (DNY) said during a speech on the floor that Ohio’s decision to legalize pot is part of an overall “defeat of the MAGA agenda” this week in elections. He also pledged to keep moving forward with bipartisan cannabis legislation in Congress.
The Congressional Research Service has released a new report on the economic impacts of legalizing cannabis. It warns that if lawmakers impose a tax on marijuana too high, they could bolster an unregulated market while limiting the potential of the legal industry.
Don Murphy, the Marijuana Leadership Campaign’s Don Murphy, captured the video at the GOP debate in which Vivek Ramaswamy explains his vote against Ohio’s legalization of cannabis.
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Ramaswamy is concerned that the federal government may “weaponize criminalization” against those who engage in state-legal marijuana activities under the “fake pretense” that they are protected from federal prosecution.
Ohio Gov. Mike DeWine, a Republican governor of Ohio, is calling for amendments to the voter-approved marijuana law in his state before it takes effect.
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The voters said that people had a right to smoke pot. That’s fine. Other people have a right to not smell it or have their children and grandchildren exposed to it .”
Ohio Department of Commerce already has a FAQ explaining the legalization of pot and the licensing of sales, as approved by voters. However, it warns that the details may change if lawmakers amend the law.
Virginia Democrats have won majority control of both the House of Delegates (House) and the Senate (Senate). This has led to a move towards legalizing marijuana. However, there are already disagreements on how the legislation should be drafted and whether existing medical cannabis operators will get an early start.
A delegation of Oregon legislators and other officials made a fact-finding visit to Portugal in order to learn from Portugal’s policy that has been in place for two decades.
The South Dakota Interim Rules Review Committee has rejected proposed regulations that would have banned flavorings in medical cannabis edibles, vape products, and required testing of the rolling paper used to create pre-rolled joints.
Federal
Rahul Gupta, Director of the White House Office of National Drug Control Policy, announced that new federal resources were available to “equip businesses and state leaders with tools for expanding employment opportunities for tens of thousands of Americans who are struggling with substance abuse disorder or in recovery.”
The House of Representatives has approved an amendment by Rep. Dale Strong, (R-AL), expressing his support for drug tests as a requirement to receive public housing benefits.
Sen. Susan Collins (R – ME) and Rep. Jared Golden(D – ME) have called on the Department of Justice (DOJ) to investigate illegal marijuana-growing operations owned by Chinese in Maine.
Rep. Wiley Nickel, (D-NC), suggested that a marijuana-banking bill could be a part of an “horse-trade” with the Senate in order to advance House crypto legislation.
Rep. Rep.
Rep. Barbra Lee, (D-CA), tweeted: “In a win for cannabis justice, Ohio has become the 24th State to end marijuana prohibition. This is a great step in the right directions.” We must build on this momentum and secure cannabis justice on the federal level to end the drug war for good.
/ STATES
The Maine Legislative Council has voted on a bill that addresses the proliferation of illegal marijuana-growing operations owned by Chinese in the state.
New York regulators published a plan for transparency and revised the medical cannabis rules.
Washington State regulators have taken action to start rulemaking on marijuana issues of social equity.
Missouri courts have expunged almost 100,000 marijuana convictions after voters approved legalization.
Rhode Island regulators have entered into an agreement with a marijuana grower who admitted to possessing hundreds of pounds of cannabis products that were not registered. The agreement requires the grower to pay $625,000 for its license in exchange.
A number of envelopes were allegedly sent to the offices of elections in Georgia, Oregon, and Washington. The envelopes contained fentanyl as well as other substances.
New Mexico regulators are holding a Monday hearing to discuss proposed changes in marijuana laws.
The Massachusetts Cannabis Social Equity Advisory Board meets on Monday.
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/ LOCAL
Tuesday, the Lubbock City Council in Texas will discuss a proposal for marijuana decriminalization initiated by citizens.
The Millsboro Town Council in Delaware voted to prohibit marijuana businesses.
INTERNATIONAL
The Chairman of the Standing Committee on National Health, Medical Aid and Medical Insurance of the Ukrainian Rada said that lawmakers will vote on the final passage of medical cannabis legalization this month.
Uruguayan officials held a forum to discuss cannabis regulations.
/ SCIENCE AND HEALTH
According to a review, “there are emerging evidences that medicinal CBD/THC improves psychiatric presentations and behaviour in general.” “In particular, there are emerging proofs in certain key areas that medicinal CBD/THC positively supports challenging behavior, such as in children with neurodevelopmental disorder.”
/ ADVOCACY OPINION AND ANALYSIS
“Let’s not be shy,” said the Wisconsin Democratic Party chairman. Ohio marijuana smokers. The ballot initiative was a resounding success, with a comfortable margin. The grass-roots and groups worked together. This issue is not limited to Ohio. It’s chronic. “You can see buds blooming everywhere this seed has been planted.”
The R Street Institute has published a paper on access to medical cannabis.
/ BUSINESS
Curaleaf Holdings, Inc. posted quarterly revenue of $333.2 millions and a loss of $93.8million.
Trulieve Cannabis Corp. posted quarterly revenue of $275.2 millions and a loss of 25.8 million dollars.
TerrAscend Corp. has reported a quarterly net revenue $89.2 millions and an $8.7 million net loss.
Canopy Growth Corporation has reported a quarterly revenue of C$82.1 and a loss of C$324.8.
Aurora Cannabis Inc. reported a quarterly net revenue totaling C$63.4 Million.
iAnthus Capital Holdings, Inc. posted quarterly revenue of $42.9 millions and a loss of $15.6 million.
MariMed Inc. reported a quarterly revenue of 38.8 million dollars and a loss of $4.3million.
Charlotte’s Web Holdings, Inc. posted quarterly revenue of $14.35 million and a loss of $15.15 million.
Leafly Holdings, Inc. posted quarterly revenue of $10,6 million and a loss of $2.2 millions.
Agrify Corporation has been granted an extended suspension by Nasdaq, pending an investigation into its failure to file financial reports on time.
CULTURE
Afroman celebrates Ohio’s decision to legalize marijuana.
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Photo by Chris Wallis // Side Pocket Images.
The post White House & Schumer discuss cannabis in OH, (Newsletter for November 10, 2023) first appeared on Marijuana Moment.
