Sep 08 2024

Marijuana in the November 2024 Election: A Breakdown of State and Local Initiatives

The November 5, 2024 election, now less than two months away, is set to be a monumental day for marijuana law reform, with numerous state and local initiatives up for vote.

Multiple states and cities this November will consider measures that would either legalize medical marijuana, legal recreational marijuana, or decriminalize marijuana possession. Most notably, it’s possible that the 24 legal marijuana states could jump to 27 following the November election.

With that said, below is a look at each state and locality voting on marijuana measures this November.
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Sep 08 2024

North Carolina Marijuana Superstore’s First Two Days: No Reported Arrests, Over 1,000 Patrons

The Great Smoky Cannabis Company, located in North Carolina on the tribal land of the Eastern Band of Cherokee Indians, is nearing the end of its second day open to everyone 21 and older.

Since the Great Smoky Cannabis Company, located at 91 Bingo Loop Rd in Cherokee, opened its doors yesterday at 10 a.m. to everyone 21 and older, regardless of tribal membership, the store has welcomed over 1,000 patrons.

Despite concerns that police might arrest those who purchase marijuana and then leave tribal land, since marijuana remains illegal in North Carolina, not a single arrests has been reported involving store customers.
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Sep 08 2024

Massachusetts Campaign to Legalize Psychedelics (Question 4) Raises Over $5 Million

The campaign in support of Question 4, an initiative on the November ballot that would legalize certain psychedelics, has raised over $5 million.

Mescaline (top left), ibogaine (top right), psilocybin mushrooms (bottom left), and DMT (bottom right). All four would be legalized under Question 4.

Question 4, put forth by the nonprofit Massachusetts for Mental Health Options (MMHO), would legalize the possession and personal cultivation of up to one gram of DMT, 18 grams of non-peyote mescaline, 30 grams of Ibogaine, one gram of psilocybin, and one gram of psilocin. Possessing up to twice this amount would be punishable by a fine of up to $100.

The initiative aims to “expand mental health treatment options in Massachusetts by providing new pathways to access natural psychedelic medicine therapy,” including “creating access to natural psychedelic medicine therapy and removing criminal penalties for personal possession of these medicines.” The law would allow licensed service centers to supply psychedelics, overseen by a newly-created Natural Psychedelic Substances Commission, modeled after the state’s Cannabis Control Commission.
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Sep 07 2024

North Carolina Marijuana Superstore Now Open, Hundreds Already Made Purchases

The Great Smoky Cannabis Company, the first legal marijuana store in North Carolina history, opened just a few hours ago to a line of hundreds.

The line outside the Great Smoky Cannabis Company just prior to its opening (photo credit: Melissa Melvin-Rodriguez).

The Great Smoky Cannabis Company, located in Cherokee (91 Bingo Loop Rd) on the tribal land of Eastern Band of Cherokee Indians (three hours from Charlotte and 4.5 hours from Raleigh), opened this morning at 10am. The outlet is open to anyone who’s at least 21 years old with no requirement to be a tribal member, or a medical marijuana patient.

Prior to its opening, an estimated 300 people waited in line. The first person lined up at 1am.
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Sep 07 2024

U.S. House: Federal Legislation to Allow Marijuana Banking Gains New Sponsor, Bringing Total to 130

Congressmember Betty McCollum (D-MN) has joined as a cosponsor for the SAFE Banking Act, bringing the total number of sponsors for the measure to 130.

Congressmember Evans signed on as a cosponsor to the SAFE Banking Act (H.R. 2891) yesterday. The measure now has 130 bipartisan sponsors, more than any other marijuana-related bill in the U.S. Congress.

The SAFE Banking Act seeks to establish federal protections for banks and credit unions serving state-legal marijuana businesses. This includes thousands of dispensaries and retail outlets across the 38 medical marijuana states, and the 23 states that allow licensed recreational marijuana sales. The bill would also permit these businesses to claim standard IRS tax deductions, a benefit they are currently denied.
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Sep 06 2024

Florida: New Poll Finds 64% Plan to Vote in Favor of Amendment 3 to Legalize Recreational Marijuana

According to polling released today, a strong majority of likely voters in Florida support Amendment 3, which would make legal marijuana a constitutional right.

According to the new poll, “Support for the measure to legalize marijuana surpasses the 60% threshold: 64% plan to vote “yes” while 27% plan to vote “no”. ”

Amendment 3 would amend Florida’s constitution to allow individuals aged 21 and older to possess and use up to three ounces of dried marijuana flower and up to five grams of marijuana concentrates. These products would be available for purchase at licensed marijuana retail outlets and medical marijuana dispensaries with dual licenses.
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Sep 06 2024

New Mexico Recalls Marijuana Products

The New Mexico Cannabis Control Division has issued a recall for marijuana products that tested positive for a banned pesticide.

(Photo credit: KTTN Radio).

The tainted products were distributed by WH Agriculture, LLC, operating under the name Maggie’s Farm. According to the Cannabis Control Division, these products were on the market between March 6 and August 1 of this year.

Maggie’s Farm products were sold at multiple dispensaries, including R. Greenleaf, Loud Cloud, and Everest locations. Affected cities include Albuquerque, Alamogordo, Carlsbad, Los Lunas, Sunland Park, Belen, and Las Vegas, New Mexico.
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Sep 06 2024

California Governor Issues Emergency Regulations “to Protect Kids from Dangerous and Intoxicating Hemp Products”

Today, California Governor Gavin Newsom issued proposed emergency regulations “to protect youth from the adverse health effects of dangerous hemp products”, according to a press release.

Hemp gummies.

The regulations, proposed by the California Department of Public Health (CDPH), “strengthen California’s ability to stop the peddling of intoxicating hemp products to California’s children”, states the governor’s office “The new regulations require that industrial hemp food, beverage, and dietary products intended for human consumption have no detectable THC or other intoxicating cannabinoids per serving, create a minimum age to purchase hemp products to 21, and limit the number of servings of hemp products to five per package.

Governor Newsom said “We will not sit on our hands as drug peddlers target our children with dangerous and unregulated hemp products containing THC at our retail stores. We’re taking action  to close loopholes and increase enforcement to prevent children from accessing these dangerous hemp and cannabis products.”
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Sep 06 2024

Missouri: August Breaks Monthly Record for Marijuana Sales With $126 Million, Year-to-Date Total Nears $1 Billion

August’s legal marijuana sales in Missouri set a new monthly record.

According to the Missouri Department of Health and Senior Services, there was a $111 worth of recreational marijuana sold via legal outlets in August, in addition to $15.15 worth of medical marijuana sold. The combined $126.15 million breaks the previous monthly high of $125 million set in March.

The year-to-date total is now approximately $950 million, with all-time sales standing at $2,904,540,000.
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Sep 06 2024

Report: Legal Marijuana Market Valued at $47 Billion, to Grow to $107 Billion by 2028

According to a new report by Research and Markets, the global market for legal marijuana is valued at just over $47 billion, and is expected to grow substantially in the coming years.

“2023 was something of a mixed bag for the legal cannabis industry”, states the report. “While 13% year-on-year growth to reach USD47.1 billion represents a modest recovery from the high single-digit growth experienced in 2022, it remains some way off the 40% and 30% expansion achieved during the pandemic in 2020 and 2021, respectively.”

That said, the “forecast remains positive”, as the $47.1 billion market is expected to grow at a compound annual growth rate of 18% through 2028, leading to a valuation of $107 billion.
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