USDA approves genetically modified hemp; NY marijuana licenses & crackdowns; MD & IL Sales; Medical cannabis coverage to workers
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Top Things to Know
Marijuana Moment learned from NORML and the Marijuana Policy Project that they are discussing a possible merger due to ongoing funding issues. MPP’s former executive director resigned recently, and the group has shifted its focus away from ballot measures and towards legislatures.
The U.S. Department of Agriculture has determined that a genetically modified hemp plant, which produces lower levels of cannabinoids THC (and cannabichromene) and cannabichromene(CBC), “may be grown and bred safely in the United States.”
New York regulators have begun accepting applications for new marijuana business licenses in order to expand the market. Kathy Hochul, a Democrat, announced that her administration will “intensify” its efforts to crackdown on illegal sales.
Maryland Cannabis Administration reports that retailers sold legal marijuana products worth more than $90.7 Million in September. The bulk of this was due to record monthly sales of adult-use marijuana. Medical cannabis sales dropped.
Illinois Department of Financial and Professional Regulation reports that retailers sold nearly 3 million adult-use marijuana product in September, a new monthly record. The $139.5-million sales total was the third highest monthly haul since recreational cannabis markets launched.
Bennabis Health & CannaCoverage have partnered to allow businesses to include medical marijuana coverage in their employee benefits package to help reduce employees’ out-of pocket costs.
Federal
The President Joe Biden declared October as National Youth Substance Use Prevention Month.
Sen. Ed Markey (D, MA) has introduced legislation addressing drug issues. He says it is time to “stop criminalizing those with substance abuse disorders and treat them compassionately” — even though none of his bills will actually repeal federal laws criminalizing drug possession.
Sens. Cory Booker, Ted Cruz and other co-sponsors have filed a bill that would require the Government Accountability Office (GAO) to investigate the sale of counterfeit pills laced fentanyl online.
Two new co-sponsors have been added to the Senate marijuana banking legislation, bringing it up to 27.
/ STATES
Illinois Gov. J.B. pritzker, (D), tweeted: “In Illinois, our cannabis ecosystem is the most accessible, equitable and prosperous in the country.”
Wisconsin’s Senate Minority Leader said that legalizing marijuana will benefit Wisconsin’s agricultural industry.
A Michigan representative has introduced a bill that would allow the use of medical cannabis in schools.
Oregon regulators have proposed changes to the marijuana and hemp regulations.
Connecticut Social Equity Council members are concerned about the distribution marijuana-funded money for community reinvestment.
The New Hampshire Therapeutic Cannabis Medical Oversight Board held a meeting.
Washington State regulators are hosting online collaborative discussions on cannabis samples rulemaking this Friday and Wednesday.
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/ LOCAL
The Cheyenne City Council and the Rock Springs City Council in Wyoming are both considering decriminalizing marijuana.
Harker Heights officials in Texas are under pressure from activists to implement the decriminalization of marijuana, which was approved by voters.
International
Ireland’s chief Medical Officer said that the amount of marijuana use in Ireland is “of great concerns.”
The mayor of Merritt in British Columbia Canada criticizes the drug decriminalization policies of his province.
/ SCIENCE AND HEALTH
A study concluded “the presence a dispensary does not have a significant impact on local crimes in average neighborhoods” but “there is a small increase in property crime specifically in low-income areas.”
/ ADVOCACY OPINION AND ANALYSIS
Officials from the Minnesota Sheriffs’ Association said that police are seeking guidance regarding the intersection between marijuana legalization, gun rights and their own policies.
The New York Daily News’ editorial board stated that the expansion of licensing for marijuana businesses is an opportunity for New York to address problems with its legalization rollout.
/ BUSINESS
Tilray Brands, Inc. posted quarterly net revenue of $177 millions and a loss of $55.9million.
The Securities and Exchange Commission has charged Hightimes Holding Corp.’s executive chairperson with a fraudulent scheme for promoting securities offerings.
Verano Holdings Corp. has received conditional approval for listing shares on Cboe Canada.
CULTURE
Xzibit talked about his new marijuana podcast that he will be launching.
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The post Cannabis organizations consider merging amid financial struggles (Newsletter for October 5, 2023) first appeared on Marijuana Moment.
