Jul 12 2024
The US Senate’s SAFER Banking Act, which would allow marijuana banking, now has 37 sponsors. Senator Lisa Murkowski (R-AK) officially signed on as a cosponsor of the SAFER Banking Act (S.2860) yesterday. This measure would provide federal protections to banks and other financial institutions, such as credit unions, that offer services to marijuana businesses operating …
Jul 12 2024
Legislation in the US House of Representatives that would allow nationwide marijuana banking now has 128 sponsors Congressmembers Ted Lieu (D-CA), Nicole Malliotakis (R-NY) and Haley Stevens (D-MI) have joined as cosponsors to the SAFE Banking Act (H.R. 2891), bringing the total number of sponsors to 128. No other marijuana-related bill in the US Congress …
Jul 11 2024
In June, Montana’s marijuana sales were the highest since September 2023, with all-time sales now exceeding $775 million. According to data from the Montana Department of Revenue, licensed marijuana stores sold $26,945,439 worth of product in June, the highest amount since the $28,159,456 sold in September last year. August 2023 remains the month with the …
Jul 11 2024
The Eastern Band of Cherokee Indians (EBCI) will open its marijuana megastore to everyone 21+ next month, regardless of whether they are a tribal member or a medical marijuana patient. The Great Smoky Cannabis Company —located in a former bingo hall that cost over $50 million to refurbish— opened for medical marijuana sales in April. …
Jul 11 2024
Today, Congressman Pete Sessions (R-TX) and Senator James Lankford (R-OK) released a bicameral letter with 23 other Members of Congress “strongly opposing the Biden administration’s recent decision to move marijuana from a Schedule I to Schedule III substance.” According to a press release sent from Rep. Sessions office, the letter “emphasizes that the Department of …
Jul 11 2024
The Senate Appropriations Committee has approved legislation that would allow Department of Veterans Affairs (VA) doctors to recommend medical marijuana. Under current law, VA doctors are prohibited from recommending medical marijuana to their patients, even if those patients reside in states where medical marijuana is legal. A provision that would end this prohibition is included …
Jul 11 2024
Today, Governor Kathy Hochul announced the New York State Cannabis Control Board (CCB) “took substantial steps to advance the state’s cannabis regulatory framework during this month’s board meeting, addressing several key topics: license approvals, market updates, and enforcement updates.” “New York is building a robust and equitable legal market that is driving significant economic growth …
Jul 11 2024
The global legal marijuana market is set to experience substantial growth over the next decade, according to a recent report by Prophecy Market Insights. Currently valued at $47 billion in 2024, the market is expected to surge to $194 billion by 2034, growing at an annual rate of 16.9%. The “Legal Cannabis Market Report” breaks …
Jul 11 2024
In Massachusetts, an initiative to legalize certain psychedelics has been officially placed on the November 2024 presidential election ballot. Today, Massachusetts Secretary of State William F. Galvin announced that Massachusetts for Mental Health Options (MMHO) has submitted enough valid signatures for their initiative to be voted on this November. The proposed law would legalize the …
Jul 10 2024
The California State Fair begins Friday, July 12, and runs until July 28. This year, for the first time, the fair will include onsite marijuana sales and consumption, along with expanded marijuana competitions. In 2022, the California State Fair introduced an educational cannabis exhibit, as well as marijuana competitions similar to competitions the fair holds …
