Cannabis companies team up to sue federal government (Newsletter: May 30, 2022)

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State banking regulators want SAFE passed; Marijuana tax revenues in California stagnate; LA Worker Protection Editorial

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/ THINGS TO KNOW

The CEO of Ascend Wellness Holdings told Marijuana Moment that his company and other multi-state operators are teaming up to sue the federal government to overturn the cannabis ban.

  • He says they’ve retained star law firm David Boies, in an attempt to file two separate lawsuits: one seeking to stop the federal government from obstructing the intrastate cannabis trade and another challenging a tax provision known as 280E that prevents the industry from taking tax deductions that are available to any other company.

The Conference of State Banking Supervisorswhich represents state financial regulators, is asking Congress to pass marijuana banking protections through the America COMPETES Act.

California officials reported that the state has generated nearly $4 billion in marijuana tax revenue since legal sales began in 2018, but quarterly growth in state transportation has stalled in the past year and a half.

The owner of the Green Leaf dispensary, Donnie P. writes in a new editorial in Marijuana Moment that Louisiana lawmakers should pass a bill offering job protections to public servants who use medical cannabis.

/ FEDERAL

The United States Department of Agriculture The Census of Agriculture adds new questions on hemp this year.

Rep. Mark Amodei (R-NV) stated that he was seriously concerned about the legalization of marijuana at the federal level.

Representative Angie Craig (D-MN) tweeted, “Glad to see new legal clarity for CBD producers and sales in MN. This is key to keeping legitimate businesses out of legal limbo. That’s why I joined my colleague, @RepKathleenRice, in introducing the CBD Product Safety and Standardization Act to accomplish this nationwide. And I will continue to call on the Senate to pass the MORE Act to finally legalize cannabis for adult use.

Illinois Democratic Congressional Candidates discussed marijuana politics at a forum.

/ STATES

South Dakota Democratic gubernatorial candidate Jamie Smith, currently the House Minority Leader, tweeted, “My plan is simple: listen and implement the will of the people of South Dakota. Recreational marijuana should be legal in our state.

Tennessee Democratic gubernatorial candidates discussed marijuana during a debate. Competitor JB Smiley, Jr. tweeted, “We have more things to focus on than legalizing marijuana.” He also has tweeted“Let’s be clear, I support the decriminalization, medical use and legalization of marijuana. Additionally, we need to expunge the records of people who have criminal records simply because they possessed marijuana.

After the New York one the attorney general asked people to send in complaints about cannabis-infused candy they encountered around Halloween, the office only received one submission, and it was a patient at the medical cannabis who said a dispensary sold him a spoiled product.

The California The Senate Approved Legislation to Eliminate the Cannabis Grow Tax and Establish Marijuana Fairness tax creditcreate a retailer tax credit and add labeling requirements for cannabis products.

Virginia House and Senate leaders included a provision to recriminalize possession of more than four ounces of marijuana in public in the budget legislation.

Indiana The Acting Senate Speaker and Minority Leader explained how lawmakers could formally study cannabis issues this summer.

from Massachusetts The House speaker said the state can apply lessons learned from marijuana legalization to college sports betting.

A Wisconsin The senator said she was open to medical cannabis but was concerned about the legalization of recreational marijuana.

The Iowa The Supreme Court has ruled that an Arizona woman’s medical cannabis card does not protect her from arrest for possession of marijuana in the state.

A Illinois judge lifted a stay that prevented regulators from issuing additional marijuana dispensary licenses.

Oklahoma Regulators will stop processing applications for medical cannabis cultivation, processing and dispensary licenses beginning Aug. 1 for a two-year period under a new law.

New Mexico generated over $2.4 million in cannabis excise taxes in the first month of legal recreational sales.

Vermont Regulators close the pre-qualification window for marijuana business license applications on Tuesday.

Nevada Regulators will hold a public hearing on rules for cannabis parlors on June 28.


Marijuana Moment is already tracking more than 1,000 cannabis, psychedelics and drug bills in state legislatures and Congress this year. Patreon supporters by pledging at least $25/month, access our interactive maps, charts, and audience calendar so they don’t miss a thing.

Learn more about our Marijuana Bill Tracker and become a support on Patreon to gain access.

/ LOCAL

The Duncannon, Pennsylvania The borough council passed a resolution calling for the legalization of marijuana.

Los Angeles, California school officials are pushing to close or relocate marijuana dispensaries that are near schools.

Detroit, Michigan authorities began issuing the first recreational marijuana business licenses in the city.

/ INTERNATIONAL

Uruguayan President Luis Lacaille Pou Express some reservations about the country’s legal marijuana system.

Several Thai government agencies signed an agreement to “support and promote the appropriate use of cannabis and hemp.”

Scotland The Minister for Drug Policy has said safe consumption sites for illegal drugs are part of the solution to the overdose crisis.

/ SCIENCE & HEALTH

A review concluded that “in several experimental models, both in vitro and in vivo, several phytocannabinoids, including Δ9-tetrahydrocannabinol (THC), cannabidiol (CBD), and cannabigerol (CBG), exhibit activity against inflammation.”

A study found that there is “some evidence that the legalization of recreational cannabis in the United States is associated with elevated risks of transition to cannabis use both in young people and in adults. »

/ ADVOCACY, OPINION & ANALYSIS

The Navajo Nation takes a stand against the legalization or decriminalization of peyote for non-Indigenous people.

Psychedelics Canada is a new trade association representing companies in the emerging industry.

/ COMPANY

Canopy Growth Society reported quarterly net income of C$111.8 million and a net loss of C$578.6 million.

Harborside Inc. reported quarterly revenue of $17.2 million.

Members of Trulieve Cannabis Corp. the management team bought shares of the company last week.

Aurora Cannabis Inc. has entered into an agreement with underwriters who will purchase shares of the company on a bought deal basis for gross proceeds of approximately $125.2 million.

Bally’s, Inc. said it would not allow marijuana use in its Rhode Island casinos, despite the state’s new legalization law.

/ CULTURE

Heidi Klum would have meet with the German drug minister to push for the legalization of marijuana.

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Photo courtesy of Chris Wallis // Side Pocket Images.

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