Banking gets attention in America COMPETES conference; Anti-marijuana lawmakers: legalization is inevitable; SC & NH cannabis bills defeated
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/ TOP THINGS TO KNOW
The Delaware Senate sent a bill to legalize marijuana possession to the desk of Gov. John Carney (D). Separate legislation to regulate cannabis sales is also advancing, but Carney is a rare Democratic governor who opposes legalization, so it is not clear what he will do now that lawmakers have forced the issue.
At the first meeting of the America COMPETES Act conference committee, several members discussed the need to include marijuana banking provisions in the final bill.
Nearly a quarter of the U.S. Senate—18 Democrats, five Republicans and one independent— joined together on a letter pushing congressional leaders to finally enact marijuana banking provisions through the America COMPETES Act.
National Institute on Drug Abuse Director Nora Volkow was pressed about marijuana, kratom and drug decriminalization at a House hearing—with several lawmakers appearing to admit that cannabis legalization is inevitable despite their own concerns.
South Carolina Senate leadership rejected an effort to revive medical cannabis legislation by attaching it to a largely unrelated bill. The defeat comes a week after House leaders similarly blocked medical marijuana on procedural grounds.
The New Hampshire Senate again voted to reject marijuana legalization, this time killing one of its own bills after the House attached cannabis language.
A National Institute on Drug Abuse panel on cannabis will meet on June 8.
Wisconsin Democratic congressional candidate Mark Neumann tweeted, “Marijuana should be legal. In Congress, I will support the full legalization of cannabis, push to expunge, & vacate all marijuana convictions, & support the reinvestment of revenue into communities hardest hit by the War on Drugs.”
The House bill to create a commission to study potential legal marijuana regulations got one new cosponsor for a total of three.
Oklahoma Gov. Kevin Stitt (R) signed a bill to create a grant program to fund efforts by county sheriffs to combat illegal marijuana activity.
Florida Democratic gubernatorial candidate Nikki Fried, currently the agriculture commissioner, sent a letter urging members of the state’s congressional delegation to support enacting marijuana banking legislation.
Washington State’s attorney general and Department of Labor & Industries filed a complaint against Lovely Buds over alleged unpaid wages and overtime. Separately, the state Supreme Court upheld the constitutionality of the state’s marijuana-impaired driving standard.
Delaware’s attorney general is calling on the U.S. Department of Justice and Georgia attorney general to investigate a drug search that police in the latter state conducted on the bus of the Delaware State University women’s lacrosse team.
Nevada’s treasurer tweeted about U.S. senators’ push for marijuana banking legislation, saying, “Thank you to @RosenforNevada for pushing for this very important Act! Cannabis is legal in Nevada, and those businesses need and deserve access to banking.”
An Arkansas campaign says it has already collected more than half the signatures it needs to place a marijuana legalization initiative on the ballot.
Colorado lawmakers sent Gov. Jared Polis (D) a bill to felonize possession of any one-gram mixture containing fentanyl.
The Louisiana House of Representative approved a bill to partially decriminalize marijuana paraphernalia.
The Guam legislature’s Economic Development and Agriculture Committee held a hearing on marijuana regulations.
Pennsylvania representatives spoke about their psilocybin research bill.
A Maryland appeals court upheld the dismissal of a company’s lawsuit challenging the denial of its medical cannabis growing and processing license.
Illinois regulators are preparing to issue 60 new craft cannabis cultivation licenses.
New York regulators are holding workshops to help equity businesses apply for the first retail marijuana licenses. Separately, regulators are refusing to disclose information about cease-and-desist letters that may or may not have been sent to cannabis “gifting” businesses.
Washington, D.C.regulators issued a notice on how medical cannabis businesses should report sales that occurred during a tax holiday.
Virginia regulators published a list of registered hemp processing businesses.
Marijuana Moment is already tracking more than 1,000 cannabis, psychedelics and drug policy bills in state legislatures and Congress this year. Patreon supporters pledging at least $25/month get access to our interactive maps, charts and hearing calendar so they don’t miss any developments.
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The Miami, Florida City Commission voted to clear the way for a medical cannabis dispensary to open.
Mexico’s Supreme Court determined in a non-precedential ruling affecting only the case at hand that marijuana consumption is part of the right to free development of personality, but that there are limits to the right and that judges should be able to decide on a case-by-case basis based on possession amounts. Meanwhile, the Senate majority leader said that lawmakers remain committed to passing a legalization bill.
A Canadian member of Parliament is supporting a petition calling on the government to automatically expunge cannabis convictions.
A Kyrgyzstan lawmaker said the government should legalize marijuana.
/ SCIENCE & HEALTH
A study found that “CBD was superior to placebo in reducing seizures and producing longer seizure-free intervals in patients with [Tuberous Sclerosis Complex]-associated seizures.”
A study found that “MDMA treatment paired with a trauma-cue promotes adaptive stress responses in a translational model of PTSD in rats.”
/ ADVOCACY, OPINION & ANALYSIS
The American Bankers Association tweeted, “The bipartisan, commonsense #SAFEBanking Act is urgently needed to help resolve the public safety issues that result from keeping cannabis businesses out of the banking system.”
Trulieve Cannabis Corp. reported quarterly revenue of $318.3 million and a net loss of $32 million.
Ascend Wellness Holdings, Inc. reported quarterly net revenue of $85.1 million and a net loss of $27.8 million.
TerrAscend Corp. reported $49.7 million in quarterly net revenue and a net loss of $16 million.
Glass House Brands Inc. is acquiring dispensaries operating under the name Natural Healing Center.
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