On Wednesday, Aprile 26th, at dawn in Singapore, a 46 year old man named Tangaraju Suppiah was executed by long drop hanging for smuggling 1 kg of marijuana into the country, (which is about 2lbs, 3 oz). Singapore law considers anyone in possession of 1.1 pounds of marijuana or more to be a drug trafficker, and they are given the death penalty by hanging. In 2022, Singapore executed 11 people by hanging for drug offenses, including marijuana. Suppiah was convicted in 2018 and his family and activists have been fighting to appeal, saying he had been convicted on weak evidence and received limited legal access during his prosecution. In a last ditch effort, billionaire entrepreneur and human rights activist Sir Richard Branson had issued a plea earlier in the week, hoping to draw attention and stop the death. Branson, who is also a member of the Global Commission on Drug Policy, has said Suppiah “doesn’t deserve to die,” and that the circumstances for Suppiah’s arrest and conviction were “dubious.” He further said that “Singapore may be about to kill an innocent man.” According to Branson’s press release, Suppiah “was actually not anywhere near these drugs at the time of his arrest. This was largely a circumstantial case that relied on inferences,” and Suppiah “has maintained his innocence from the very beginning of his ordeal.” Amnesty International have also said his conviction relied mainly on statements allegedly made during his interrogation by police, which they claim was done without the presence of a lawyer or an interpreter being present. Singapore’s Central Narcotics Bureau said that he “was accorded full due process under the law, and had access to legal counsel throughout the process.” However, Singapore’s own court documents in other past cases have affirmed that these type of arrests are only allowed access to a lawyer after the police have done their investigation. Amnesty International also said futher evidence in Suppiah’s case was from “the testimony of his two co-accused, one of which had his charges dismissed.” And with an even larger global presence, in Geneva earlier this week, a Spokesperson for the United Nations High Commissioner for Human Rights urged Singapore’s government “to urgently reconsider this execution,” and not proceed. Family members have said, “He didn’t want us, the family, to feel worse, so he will not show any emotion or his distress to us. So he always tries to appear strong.” The family has said they definitely did not “think [he has] had a fair trial,” and none of them “can accept it… we’re just hoping for a miracle and we will do whatever we can.” It’s worth remembering that despite the United Nation’s stance on the alleged human rights injustice, former President Trump has said several times that he admires Singapore’s death penalty policy for drugs, and quick trials and executions. In Pennsylvania in September 2022 Trump said, “I’m calling” to “immediately … institute the death penalty for drug dealers.” (Trump transcript from 9-3-22 speech in Pennsylvania: 01:02:29). And in July of 2022, Trump praised quick trials and said “you absolutely … execute a drug dealer.” During that same speech he added, “you look at Singapore, you look at other countries where they have the death penalty, they have no drug problem whatsoever.” Trump further praised Singapore’s executions by adding, “It doesn't take 15 years in court. It goes quickly … You know what a quick trial is right? Two hours. That’s what.” Trump has also made similar statements in 2018, in 2020. Senate Majority Leader Schumer Wishes ‘Happy 420’ & Vows to ‘Work Like Hell’ For Legalization4/27/2023
On April 20th, Senate Majority Leader, Democrat Chuck Schumer of New York, was the keynote speaker at a special 4-20 event inside the Capitol Building. At that meeting, he wished cannabis advocates a “Happy 420” and promised he will “work like hell” to advance reform, adding the obvious: “Congress is behind the rest of the country on this issue.” Schumer also announced his plan to refile his comprehensive federal legalization bill this session, as well as continuing to work a more conservative cannabis legislation package. With Republicans in control of the House, getting cannabis measures passed could be difficult, but Schumer hopes there will be “even more Democratic support than what we had last year.” Schumer acknowledged his disappointment that SAFE banking was not able to get passed during the last Congress session, saying, “we came close,” but “we ran into opposition in the last minute.” He said he and other cannabis supporting lawmakers would continue to “work in a bipartisan way” to get the job done. Schumer told the 420 gathering, “Until we reach our goal, I promise to be in your corner and work like hell bringing federal cannabis policy into the 21st century,” and, “We will need you, as we always do, to reach out to members of both parties, in both chambers, especially Republican, so we can make progress on cannabis reform.” (CLICK HERE for an link to contact your representatives quickly & easily) Also in attendance at the April 20th National Cannabis Policy Summit were the co-chairs of the Congressional Cannabis Caucus: Democratic Representative from Oregon Earl Blumenauer, Democratic Representative from California Barbara Lee, Republican Representative from Ohio Dave Joyce, and Republican Representative from Florida Brian Mast. Representative Joyce spoke on his newly refiled bill, the PREPARE Act, which stands for Post-Prohibition Adult-Use Regulated Environment, which is to prepare the federal government for marijuana legalization, ultimately designed to work towards a regulatory system similar to how alcohol is regulated. Representative Lee said she is “hard at work in ensuring all players in the cannabis space, both large and small businesses, have access to capital.” Lee also acknowledged that the “public opinion has drastically shifted in support of cannabis legislation,” and noted that “38 states and four territories have now legalized medicinal or adult use cannabis.” In addition to the Schumer and the co-chairs of the caucus, other legislature supporters were there such as Democratic Senator John Hickenlooper of Colorado and Republican Representative from South Carolina Nancy Mace. Senator Hickenlooper spoke about the need for working on more conservative cannabis legislation packages, saying that unfortunately they are “really not close” to having enough support to pass full legalization through Congress. So, he said starting with more incremental reform “allows us to get some momentum going and to really get into more meaningful discussions.” (Watch Schumer’s speech at the National Cannabis Policy Summit Congressional Forum here.) In addition to the recently refiled PREPARE Act Bill, and the upcoming legalization bill promised by Democratic Senate Majority Leader Chuck Schumer, there have been several other cannabis measures in the works on Capitol Hill. These are tending to focus on smaller, incremental measures for cannabis, such as banking and expungement. This is because with a Republican controlled Congress, the hopes for broad federal legalization passing during this congressional session are slim, so the emphasis is being put on the other related measures. This past week, Alexandria Ocasio-Cortez, the Democratic Representative from New York, has refiled the HOPE Act bill, which stands for Harnessing Opportunities by Pursuing Expungement, which is designed to incentivize state and local cannabis expungements through federally funded grants. The Democratic Senator from Oregon, Earl Blumenauer filed a bill last week which hopes to allow cannabis businesses to take federal tax deductions, which they are currently unable to do. Republican Congressional Representative from Florida, Brian Mast, has introduced legislation to protect the Second Amendment right to bear arms for cannabis users, as they are currently banned from doing now. Also this past week, Senate and House lawmakers from both sides of the political aisle have joined together to refile the SAFE Banking Act in each of their respective chambers. SAFE Banking stands for Secure and Fair Enforcement (SAFE) Banking Act. It’s purpose is to protect banks that work with state-legal cannabis businesses from being penalized by federal regulators, this would thus open up the availability of traditional banking to the cannabis industry which is currently forced to be based in cash, due to the lack of available banking options for them. This new version of the SAFE Banking Act differs from last years “SAFE Banking Plus” package which included expungements, and failed to get passed. And this new version also differs from prior versions by more clarifications of who safe harbor banking is extended to, including more financial institutions. It will also give cannabis industry workers access to federally backed mortgages. Many of the bill supporters have emphasized the need for SAFE Banking, by underscoring the safety element that applies to more than just the cannabis industry. One sponsor, Democratic Senator from Oregon Jeff Merkley said, “Forcing legal businesses to operate in all-cash is dangerous for our communities; it’s an open invitation to robbery, money laundering, and organized crime—and it’s way past time to fix it.” Senator Blumenauer added that this bill “will save lives and livelihoods.” Blumenauer also pointed out that previous versions have already passed the House seven different times, with difficulty only being found in the Senate. Senator Merkley and another sponsor, Republican Senator from Montana Steve Daines, released a joint statement on Wednesday saying this newly refiled bill, “will represent the largest-ever cannabis reform legislation with bipartisan support in Congress,” and added, “We are committed to making 2023 the year a bill is signed into law that ensures all legal cannabis businesses have access to the financial services they need.” There are currently 40 sponsors and supporters of the bill, with 35 of them being Democrats, and 5 being Republicans. Senators: Jeff Merkley (D-OR) and Steve Daines (R-MT), along with Congressional Representatives: Dave Joyce (R-OH), Earl Blumenauer (D-OR), Jacky Rosen (D-NV), Bill Cassidy (R-LA), Kirsten Gillibrand (D-NY), Cynthia Lummis (R-WY), Brian Schatz (D-HI), Lisa Murkowski (R-AK), Edward J. Markey (D-MA), Kevin Cramer (R-ND), Ben Ray Luján (D-NM), Dan Sullivan (D-AK), Catherine Cortez Masto (D-NV), Rand Paul (R-KY), Angus King (I-ME), Tammy Duckworth (D-IL), John Fetterman (D-PA), Ron Wyden (D-OR), Kyrsten Sinema (I-AZ), Alex Padilla (D-CA), Dick Durbin (D-IL), Peter Welch (D-VT), Mark Kelly (D-AZ), Michael Bennet (D-CO), Patty Murray (D-WA), Tina Smith (D-MN), Amy Klobuchar (D-MN), Elizabeth Warren (D-MA), Tim Kaine (D-VA), Debbie Stabenow (D-MI), Bernie Sanders (I-VT), Bob Menendez (D-NJ), Chris Coons (D-DE), Jon Tester (D-MT), Mark Warner (D-VA), Martin Heinrich (D-NM), John Hickenlooper (D-CO), Mazie Hirono (D-HI), Gary Peters (D-MI) and Chris Murphy (D-CT). The House version has eight additional cosponsors, Representatives: Warren Davidson (R-OH), Jim Himes (D-CT), Brian Mast (R-FL), Barbara Lee (D-CA), Guy Reschenthaler (R-PA), Nydia Velázquez (D-NY), Lori Chavez-DeRemer (R-OR) and Lou Correa (D-CA). In other cannabis banking news, the Senate Banking Committee Chairman, Democratic Senator from Ohio, Sherrod Brown, has said that his committee will also be working on cannabis banking reform on their own, as well. Despite the high number of these cannabis bills being introduced and supported, and the vast majority of Americans supporting some form of cannabis legislation, the Senate’s Republican majority still seem to insist on blocking any form of cannabis legislation while they remain in control. On Wednesday this week, Senate Republicans blocked the advancement of a bipartisan bill which promoted researching the viability of cannabis as a medical aid for military veterans with certain conditions, including PTSD. Since Elon Musk has taken over Twitter, there have been positive changes for the cannabis industry within the social media app. In January, Twitter finally stopped the condescending substance abuse warnings for those who searched for cannabis related terms on the platform. In February Twitter began allowing cannabis advertisements, and even offered financial incentives for cannabis brands to advertise with them. Now, on Tuesday of this week, Twitter continued to court the industry by announcing they are expanding their cannabis advertising policy to allow “certified advertisers” the ability to “feature packaged cannabis products” in their ads. So far, it’s just been a short blog post announcement that was made, so there is not a great deal of detail on the policy change at this time. The blog was written by Alexa Alianiello of Twitter’s U.S. Sales & Partnerships, who wrote, “We have gathered meaningful feedback from the cannabis industry which we have taken into consideration to create even more opportunity… We look forward to helping more customers unlock the power of Twitter Ads to connect with the cannabis conversation and drive their business forward.” Interested cannabis advertisers can contact their Twitter account team, or Contact a Twitter Ads specialist for more information. Texas Decriminalization Potential as House Passes Bill & It Moves to State Senate For Vote4/27/2023
Texas’ current cannabis legalization availability is only an extremely limited medical program. However, according to December 2022 poll by the University of Texas and the Texas Politics Project, 72 percent of Texas voters say they do support decriminalizing cannabis, and 55 percent also support full legalization. This week, the Texas House of Representatives passed a bill to decriminalize cannabis and create a system for expungements. That bill is now headed to the state Senate for review there. HB 218 would reclassify possession of small amounts of cannabis from a Class B to Class C misdemeanor, it would also remove any associated jail time, and lower the maximum fine from $2000 to $500. The bill would also allow people with small possession convictions the opportunity to have convictions expunged through a court process. But despite the widespread citizen support for decriminalization, the Lieutenant Governor, Republican Dan Patrick, presides over the Senate chamber, and he believes his opposing view of cannabis is more important than what the citizens want. Patrick has rejected similar decriminalization measures in 2019 and 2021. His spokesperson, Alejandro Garcia, spoke with the Texas Tribune in 2020 and said Patrick is “strongly opposed to weakening any laws against marijuana.” HB 218 is currently awaiting review by the House Calendars Committee to be scheduled for floor action. aDuring a speech at a National Rifle Association (NRA) leadership forum on Friday April 14th, former President Donald Trump said that mass shootings are “not a gun problem.” Instead, Trump suggested that the use of marijuana could be to blame for mass shootings. Trump said, “We have to look at whether common psychiatric drugs, as well as genetically engineered cannabis and other narcotics, are causing psychotic breaks.” The former President did not clarify what he meant by "genetically engineered" cannabis, but it’s possible he’s referring to high-potency THC cannabis products. During Trumps last run as President, he showed his anti-cannabis stance by revoking the “Cole Memorandum.” That had been a direction from the prior administration which basically directed the federal government to back off prosecuting cannabis cases in state’s with some form of legalization. Since leaving the Oval office, and announcing his intention to run again for President in 2024, he has gotten even more aggressive on his anti cannabis position. Trump has mentioned several times, including this past year, that he believes all drug dealers and traffickers “should and must receive the death penalty.” In Pennsylvania in September 2022 Trump said, “I’m calling” to “immediately … institute the death penalty for drug dealers.” (Donald Trump transcript from 9-3-22 speech in Pennsylvania: 01:02:29). Earlier in the year, in July of 2022, Trump again said “you absolutely … execute a drug dealer ….” And in the same speech held up Singapore as an example to follow, saying if, “you look at Singapore, you look at other countries where they have the death penalty, they have no drug problem whatsoever.” Just one day before Trump said these words, Singapore executed a man convicted of trafficking cannabis. They executed him for cannabis by hanging him. And that is not an isolated incident for Singapore. That was the sixth man in less than four months who was executed for drug crimes. Singapore law considers anyone in possession of just 1.1 pounds of marijuana as being a trafficker, and they are given the death penalty. Former President Trump further praised Singapore’s executions by adding, “It doesn't take 15 years in court. It goes quickly. And you absolutely, you execute a drug dealer.” And he added, “You know what a quick trial is right? Two hours. That’s what.” Trump has also made these types of statements several other times over the last few years, (including in 2018, in 2020.) Re-introducing the PREPARE Act: A Bi-Partisan Step Forward for Federal Cannabis Regulation4/18/2023
On Thursday April 13th, a bipartisan bill for legal federal cannabis regulation was refiled in Congress. Republican Representative from Ohio, Dave Joyce, and Democratic House Minority Leader Hakeem Jeffries of New York submitted the PREPARE Act, which stands for: Preparing Regulators Effectively for a Post-Prohibition Adult-Use Regulated Environment. In a press release, Representative Joyce said, “With nearly every state adopting its own set of cannabis reforms, an end to federal cannabis prohibition is inevitable.” “Now is the time for the federal government to respect the will of our constituents and begin the conversation on fair and effective cannabis regulation.” The PREPARE Act is almost identical to an earlier version filed during the last session of Congress, with a few tweaks. In general, the PREPARE Act would have a commission established who would study regulatory models for alcohol and then offer recommendations on how this could help set up a framework for similar cannabis regulations. The commission would also look at the impact prohibition has had regarding crime, with an emphasis on any disproportionate minority community effect, along with the effect of inconsistent safety regulations from state to state, due to not having federal guidance. Additionally, the commission will also need to provide banking recommendations for the industry, as well as many more comprehensive subjects needed to prepare for a smooth transition to federal legalization. With a Republican controlled House, it’s uncertain how well the bill will fare, but there are some legislatures who are optimistic. Representative Jeffries said, “Americans across the political spectrum recognize that now is the time for cannabis reform, and the federal government should be ready to embrace and lead this change.” The Federal Gun Control Act of 1968 prohibits any “unlawful user” of a controlled substance from purchasing or possessing a firearm or ammunition. And since cannabis is still listed as a Schedule 1 controlled substance, the Department of Justice considers cannabis users to be “unlawful” and therefore unable to legally own firearms. The Justice Department has vigorously pursued prosecuting cannabis users with gun charges, even if those individuals are in compliance with a state legal cannabis law. Recently, several states have found themselves facing court cases over this issue, with varying outcomes from state to state. The most recent verdict has been handed down in support of cannabis users’ Second Amendment right to bear arms. This took place in a Fifth Circuit Court of Appeals in Texas. There, a judge ultimately dismissed charges against an El Paso resident convicted of firearm charges while admitting to being a cannabis user. The Justice Department had asserted that the federal ban on firearms for “unlawful” individuals applies to cannabis users. But the Bush-appointed judge disagreed. The Judge further pointed out that the President’s mass pardon for people who’ve committed federal marijuana possession offenses was reason enough for dismissal because, as the ruling stated, “that conviction would be expunged by the blanket presidential pardon.” The court ruling also disputed the Justice Department’s position that cannabis users should be considered too “dangerous” to possess guns. The ruling wrote: “over twenty states have legalized the recreational use of marijuana, and millions of U.S. citizens regularly use the substance,“ adding that therefore, “It strains credulity to believe that taking part in such a widespread practice can render an individual so dangerous or untrustworthy that they must be stripped of their Second Amendment rights.” Besides this and similar rulings in other states like Oklahoma, there have also been proposed bills to safeguard medical marijuana users Second Amendment rights before having to reach the courts. Some states that have such bills in process include Arkansas and Maryland, as well as some federal efforts that are being made towards enacting similar nationwide laws. On the opposite site, however, one high court in Florida ruled against cannabis users having gun rights, saying that despite Florida having state legal medical marijuana, those individuals are still, “‘unlawful’” and therefore it’s, "a crime for them to possess firearms.” That case is currently being appealed. On Saturday, the Colorado House of Representatives passed a bill that would remove language prohibiting the sale of cannabis online. This was already mostly redundant since delivery services were legalized in 2019. But the new law allows for online transactions which subsequently limit the amount of cash a vendor is forced to deal with, and therefore limiting their vulnerability to robberies. The new law requires that retailers verify the name and age of customers during online purchases and provide digital versions of warning or educational materials that would need to be acknowledged before completing a purchase. One of the bill’s co-sponsors, Democratic Representative Said Sharbini, said, “The goal here is to prevent a barrier for transactions to help businesses make sure that they can take these funds in so they’re not all cash businesses as well, ... At this point, there are banks that are opening up to function with them. Regulations are opening up across the country, and we need to be competitive as well,” and he added, “This is a step in that direction, and trying to make sure that we can facilitate better business.” Another of the bill’s sponsors, Democratic Representative William Lindstedt added, “there’s a public safety benefit and an efficiency for them to be allowed to do this.” In a significant milestone moving Minnesota closer to potentially legalizing cannabis for adult use in the state, a bill has navigated committee reviews, and finally advanced to the floor of the state's House of Representatives. The bill, which was introduced earlier this year, went through a thorough review process addressing a wide variety of subjects including public health, public safety, taxation, regulation and more. In total, the bill successfully passed through 15 committees, which indicates growing support among Minnesota lawmakers. However, not everyone is in favor of the bill, of course, and opponents have expressed concerns about the potential negative impact on public health and safety, such as the potential for increased impaired driving, and other potential consequences. As the bill heads to the House floor, it is expected to face further debate and scrutiny from lawmakers. If it passes the House, it will move on to the Senate for consideration. If it becomes law, Minnesota would join the growing number of states in the U.S. that have legalized marijuana for adult use. Hawaii’s new Attorney General, Democrat Anne Lopez, has announced that her office will no longer oppose cannabis legalization, and instead will now actively work with lawmakers to advance reform. Lopez said, “I’ve changed our position from opposition to ‘that train has left the station,'” She added, “So let’s find a way to help you. Let’s give you those guardrails so that you can implement the law and the policy that you want.” During her confirmation hearing, Lopez said her department would not automatically oppose legalization bills and believes it's up to the legislature to make those decisions. Lopez also committed to leading an administrative task force to develop a complete regulatory and law enforcement legislative package to ensure the state can have legal recreational marijuana with as few problems as possible. Lopez plans to bring together the state Department of Health, Department of Agriculture, and law enforcement agencies to come to an agreement on the proposed structure. Last month, Hawaii’s state Senate passed an adult-use cannabis legalization bill, but it stalled in the House. Hawaiian legislatures and advocates are now shifting attention to 2024. A congressional committee is asking the President to speed up the review process for cannabis’ status on the Controlled Substances Act. The group, called “The Congressional Progressive Caucus,” have issued their 2023 “Executive Action Agenda” in which they said the President should use his authority to see that these processes are being completed as soon as possible. That schedule review process is being carried out by the Department of Justice and the Department of Health and Human Services. Officials from both those agencies have not given a specific timeline for when this can be expected to be completed, but they have both said that it will be done in a timely manner. Besides asking for the scheduling review to be expedited, they have also requested that the President see that guidelines for protecting state cannabis programs from federal interference are reinstated. They are referencing the Obama era “Cole Memorandum” which basically said the Justice Department should not put effort into enforcing federal cannabis prohibition laws in states with some form of legalized cannabis use. The U.S. Attorney General Merrick Garland recently said the Department of Justice is currently in process of finalizing that new policy guidance. The President has not yet publicly responded to the Congressional Progressive Caucus’ request to expedite these issues, but he did issue his own proclamation this past week, declaring April to be what he’s calling: “Second Chance Month.” This is referring to people who were previously incarcerated, and who he believes deserve a second chance at creating a new beginning in society. While not solely focused on cannabis incarceration, he did specifically mentioned the negative effects of what he called, “the Nation’s failed approach to marijuana,” and pointed out that “Black and Brown Americans have been disproportionately arrested, prosecuted, and convicted;” and this has caused “unfair barriers to housing, employment, and education.” The President pointed out the steps his administration had already taken to pardon some federal cannabis convictions, and hoped his words would help bring attention to the need to help “people forge new beginnings … and [build] a safer and more just society.” Elsewhere in Washington, the U.S. Capitol Building will be hosting a first of it’s kind special cannabis policy forum on April 20th, or 4-20. The event will feature speakers such as the Democratic Senate Majority Leader Chuck Schumer of New York, Senator John Hickenlooper from Colorado, Representative Earl Blumenauer of Oregon, and several more lawmakers. There will also be many cannabis advocates and experts, along with medical marijuana patients, who will all discuss the need for federal cannabis reform, with special emphasis on the need to include social equity in such reform. Ultimately, though, after Republicans took back control of the House following last Novembers elections, the chance of passing comprehensive legalization does look unlikely. However, there are still hopes that some form of banking reform could still pass. As always, there is constant change in individual state cannabis laws. Here are some updates on cannabis legislation that has recently passed throughout the United States:
Over in the sport of Basketball, the National Basketball Association (NBA) is planning to remove marijuana from their list of banned substances. Additionally they plan to stop drug testing players for it. These changes are part of a new seven-year collective bargaining agreement with the Players Association. For the past three years the league has temporarily suspended cannabis testing, but this move would formalize that choice. Regarding the original suspension, NBA Commissioner Adam Silver said, “We decided that, given all the things that were happening in society, given all the pressures and stress that players were under, that we didn’t need to act as Big Brother right now,” and he added that, “society’s views around marijuana [have] changed to a certain extent.” In Major League Baseball, fans of the Chicago Cubs will now be the first in the country to purchase a CBD infused beverage while attending their games. The Chicago Cubs' have announced their partnership with the hemp-based MYND DRINKS, which makes this the first “Official CBD Partner” for a Major League Baseball team. As part of the deal, MYND DRINKS will be allowed to have signage included at the Wrigley Field, including on-field baseline ads. This new partnership was made possible after Major League Baseball approved CBD sponsorship in June 2022. Later in 2022, the league approved Charlotte’s Web as the Official CBD sponsor for the MLB. But this new partnership in Chicago’s Wrigley Field represents the first CBD products being approved for sale inside a ball park. MYND Drinks was first required to go through a NSF Certification process, and have been approved to sell three flavors of their CBD beverages: Elderberry Passionfruit, Orange Mango and Lemon Ginger. The Chicago Cubs’ VP of Corporate Partnerships, Alex Seyferth, said this partnership “was the right fit.” He added, “MYND DRINKS is a Chicago-based company that promotes overall wellness and helps ease the stressors of everyday life, just like a Friday 1:20 game at Wrigley Field.” Will cannabis stocks ever explode the way the tech bubble did in the early days of the internet? One insider thinks so. Jason Wild is the Executive chairman of multi-state operator TerrAscend. He said, “I think that is going to happen here. And, it’s happening now. It’s like we’ve been saying internally – the environment right now is so bad that it’s good.” Wild looks back a the hottest tech stocks prior to the tech bubble, and points out that the hottest stock at the time was AOL. However, several years later, the real stock giant turned out to be Google, which was a company no one had heard of five years earlier. Wild said cannabis companies should be focused on their sustainability at this time. And investors would be wise to pay close attention to that, as well. After all companies that can be sustainable are going to have many opportunities to increase the size of their business in the future. And while no one knows for sure who will end up being the future’s biggest cannabis stock winner, one thing is for sure: whoever it is will have to be showing now that they have the financial sustainability to make that long journey ahead. Germany’s Health Minister Karl Lauterbach recently said the European Commission had given favorable feedback on the German proposal for legalizing adult use cannabis, and subsequently Germany would officially legalize cannabis very soon. Regulations for that are expected to be formally announced on April 12th. Leaked information on the proposed regulations show that the plan is to allow for legal possession of up to 20 grams of cannabis for adults 18 years of age and older. Home cultivation of up to ten plants for personal use will also be allowed. Two well known names in North American cannabis, Tilray and Aurora already have a large presence in Germany's medical marijuana, so they could be positioned very well for the forthcoming legalization. There is one little known cannabinoid that consumers are increasingly turning to for it’s energizing and stimulating effects. What’s also interesting about this cannabinoid is it’s potential for appetite suppression. Studies have shown that the trace cannabinoid tetrahydrocannabivarin, or THCV, has been found to increase the brain’s neural response to rewarding and aversive food stimuli. Researchers concluded that this effect profile suggests it could have a positive use in treating obesity. In addition to appetite suppression, THCV studies have also shown it has potential to regulate blood sugar levels in those with type 2 diabetes, reduce epilepsy-related seizures, delay brain degeneration associated with Parkinson's disease, and help with the symptoms of schizophrenia. Interestingly, THCV itself is not psychoactive, and actually seems to slightly reduce psychoactive affects of other THC cannabinoids. THCV is found in trace amounts of most strains of cannabis, however, it’s difficult and costly to isolate and extract. There are some strains which naturally have higher concentrations of THCV, and almost all of them come from sativas originating in Africa. Some of those strains are:
A cannabis retailer in Massachusetts is suing his city over the cannabis business fees that are being collected by them. Specifically, the town of Uxbridge, Massachusetts collected $1.4 million in what they call an “impact fee” from the retail store, “Caroline’s Cannabis”. The city created these fees and issued their own rules for them. The statute which defines the terms of these “impact fees” states that there must be an “identifiable impact”. Caroline’s Cannabis’ claim is that the town has not documented - or identified - the impact of the $1.4 million they collected from the retailer, and, that because they have not, they should return the money. Cannabis businesses are easy to take advantage of because of the way laws are skewed against them, and some lingering negative opinions of the industry. It’s great to see a small cannabis business standing up for their rights, and fighting for fair treatment by the powers that be. Oklahoma could have been the 22nd state in the country to legalize cannabis for recreational use, but those dreams have come crashing down. On Tuesday, March 7th, citizens in the state rejected a measure to legalize adult use within the state, with nearly 62% voting against it, and only 38% voting in favor. Going into the vote, it looked like things could really go either way, but for advocates, the loss was a huge dissapointment considering how much support they felt there is, and the many positive benefits that could happen with legalization. Legalizing recreational use now could have given the state nearly half a billion dollars in excise tax revenue over the first five years of retail sales, as shown by an independant analysis by Vicente Sederberg LLP and the Oklahoma Cannabis Industry Association. Legalization could have also drastically reduced costs within the criminal justice system for the state as well, with law enforcement and courts being alleviated of the 4,500 people who are annually arrested for cannabis posession in Oklahoma. Oklahoma already has the most popular medical marijuana program in the country per capita, with nearly 10% of the state residents aquiring a valid med card since it was legalized by voters in 2018. However, despite this popularity and potential revenue increase, the opponents pushed hard, and obviously won this time. One very key reason why it didn’t pass could have to do with timing. The measure was supposed to have appeared on the November 2022 ballot, when voter turnout would have been high, due to the fact that there were many issues for citizens to vote on. But thanks to some creative political opposition, the measure was forced off that November ballot, when it likely would have had a far higher turnout of people voting in favor of legalizing. Once that happened, the Governor, Kevin Stitt, set the measure up for doom by relegating it to a highly unusal special election in March, which ensured that far fewer voters would turn up. A professor of political science at the University of Oklahoma, Michael Crespin, told MJBizDaily, “It was a direct attempt: ‘Let’s make this the least likely to pass, and a time when it’s not going to hurt any other elections at the ballot.” In addition to timing the election for the least likelihood of positive voter turnout, Oklahoma’s Governor Stitt, along with state Republican Party leaders, have been urging voters to reject the recreational marijuana legalization measure. The Governor, along with other conservative legislatures in control of the state government, have been promoting the idea that voters were misled into approving an earlier medical cannabis legalization initiative in 2018. Pat McFerron who is the Republican leader of the opposition’s campaign told MJBizDaily that if voters reject adult use legalization, then the existing legal medical program should subsequently be reigned in and restricted. He said, “There is an element of our coalition that’s saying … if we defeat this, this gives the Legislature impetus to go in and clean up the medical situation we have." Industry insiders are fearful of what the Governor and Conservative legislatures have in mind for the states existing medical marijuana program. Joanna Hamrick, who is Director of Operations and Sales at cultivation company Primal Cannabis, as well as also being a board member of the Oklahoma Cannabis Industry Association, told MJBizDaily that she is, “… afraid that legislators and government officials … will create more restrictions.” She said they’re, “… going to put the hammer down.” Why Is Cannabis Legalization Taking So Long, Attorney General Says They’re “Still Working” It3/24/2023
When is cannabis going to be legalized? Is it ever going to happen? These are the questions most pressing on the minds of cannabis advocates and fans across America. Time keeps ticking on, and progress feels so slow. Earlier this month the U.S. Attorney General, Merrick Garland, said the Department of Justice is “still working on [creating] a marijuana policy,” and that they are also continuing to work on reviewing cannabis’s status on the Controlled Substances Act. On October 6th, 2022, President Biden directed the Attorney General and the Secretary of Health and Human Services to officially review the Schedule 1 classification of cannabis. His request was not just to review it, but more importantly, to come to an answer on the subject, and do it quickly. Garland said it’s fair to expect that a new cannabis policy “will be very close to what was done in the Cole Memorandum.” That Cole Memorandum was an Obama-era policy which basically told federal prosecutors to generally not interfere with states’ managment of their own cannabis laws. That direction was later rescinded by Attorney General Jeff Sessions under the Trump administration. Garland also said that their work on a new cannabis policy is “not quite done,” because they have had to finalizing work on more pressing items for the department. One Washington legislature who has been a strong advocate for cannabis legalization and reform, Democratic Representative from Oregon, Earl Blumenauer, has spent some of his time this past week promoting and passing around a letter he would like his fellow legislatures to sign, which asks for very clear and compelling reasons for whatever is the final decision on a cannabis policy. Blumenauer’s letter said, in part, “To ensure accountability in your conclusions—which has been absent in so much of the history of federal marijuana regulation—transparency is key. We urge you to make available for public review and comment any evidence cited to demonstrate marijuana is more prone to drug abuse than descheduled substances already regulated at the state level.” Blumenauer has also been urging the administration to completely remove cannabis from the Controlled Substances Act, as opposed to rescheduling it to a lower level. Merrick Garland has repeatedly stated that he does not believe the federal governement should be wasting time and resources on the prosecution of people who are in compliance with state cananbis laws. He has said over and over that he believes it is not a good use of govenment resources. Garland has also written on the negative effects from keeping cannabis criminalized at the federal level, pointing out that it has led to “mass incarceration and racial disparities in our criminal justice system,” as well as making “it difficult for millions of Americans to find employment due to criminal records for nonviolent offenses.” Garland said, “The Justice Department has almost never prosecuted use of marijuana, and it’s not going to be.” However despite Garland's obviously strong conviction on this subject, in the five months since the President’s request to look into this matter, there has been no official change made in cannabis policy or Schedule status. So without yet having an official government policy, it’s merely his personal viewpoint, and there fore has no real bearing on the lives and businesses of cannabis consumers across the nation. In other words, it’s just lip service at this point, until actual change is made. And until that happens, cannabis’ current federal status continues to create myriads of other barriers and problems for state legal cannabis businesses and consumers. The federal government wants to keep everyone who has used cannabis from their second ammendment right to bear arms. Current Federal law bans anyone who uses cannabis, even medical patients, from owning firearms, and they face felony charges if they lie about their marijuana use on the federal firearm application. Recently, in an Oklahoma court, a judge ruled that banning cannabis users from owning guns is unconstitutional. The Oklahoma case stems from a traffic stop where police found a loaded revolver and marijuana inside the car. Charges were brought against the man and the case was brought before the U.S. District Court for the Western District of Oklahoma. Judge Patrick Wyrick heard arguments from both sides but ultimately decided to dismiss the case. But Judge Wyrick said that the federal statute which specifically says it prohibits any “unlawful user” of a controlled substance from possessing firearms is, “unconstitutionally vague, in violation of the Due Process Clause, and unconstitutionally infringes upon his fundamental right to possess a firearm, in violation of the Second Amendment.” The judge further called this ban “concerning,” and cited the Second Amendment, which reads, in part, “the right of the people to keep and bear Arms, shall not be infringed.” Well, as expected, after the judge ruled against the ban, the U.S. government, via the Department of Justice, has officially filed an appeal over that ruling. The appeal was filed on Friday, March 3rd, 2023, in Oklahoma’s Western District Court of Appeals for the Tenth Circuit. A similar lawsuit in Florida had a different outcome, with courts there ruling against cannabis user’s Second Ammendment rights. Advocates and cannabis supporters have said that the current federal ban is unconsititutional, and forces cannabis consumers to either lie on a gun application purchase firearms on the black market, or give up their second ammendment right to bear arms. One GOP congressman filed a bill this past January 2023 that hopes to change the law so that at least medical marijuana patients can bear arms. That bill was also filed a few years back, but failed to pass. It’s hoped that the more recent legalization momentum will help get this latest version of the bill passed. As always, reach out to your local representatives to let them know where you stand. Click here to easily find and reach your representatives online: Take Action - NORML (National Organization for the Reform of Marijuana Laws) California’s legal cannabis market continues to suffer, greatly, and now a large group of cultivators in California’s famed Cannabis Emerald Triangle are say they are facing “Socio-economic Collapse”, and are begging the government for help. Data recently released shows that California’s legal cannabis sales declined for the year of 2022. This is the first yearly decline since California’s legal cannabis market began sales in 2018, according to MJBiz. The last three quarters of 2022 saw sales continually decline in the Golden State, bringing the state’s tax revenue down as well. This decline isn’t shocking to those in the industry, as over taxation has shrunk the legal market and increased the illegal one. Responding to industry pleas, California’s government officials did recently adjusted some of the taxation, shifting excise tax from growers to retailers. This helped the growers, but not the rest of the industry, and overall, the same problems remain. 2022’s sales decline translates to a $300 million tax revenue loss for the state. Since money seems to make the world go round, perhaps this revenue decline will get official’s attention and motivate them to finally work with the industry to make some real, positive changes. Cannabis farmers in Northern California have been particularly hard hit with financial struggles. Recently, a trade organization pleaded with California’s government for “urgent intervention to save their cultivation permits. The group, Mendocino Cannabis Alliance, represents hundreds of small cannabis farmers in Mendocino County, and sent their pleas in a letter to Governor Gavin Newsom and the Department of Cannabis Control. They group’s letter pointed out that for several years, many cannabis cultivators and companies have tried to do things the legal way, but thus far have only been operating on “provisional” licensing permits. However, the temporary transition phase for those provisional permits comes to an end this July 2023. Mendicino cultivators have been trying to have those provisional licenses turned into permanent ones, so they may continue operations after July of this year. However, due to what they say is local licensing dysfunction, thus far only six farmers have been able to receive their full annual state cultivation permit. Those six represent less than 1% of the 841 Mendicino County cultivators who have been waiting for their provisional permits to be transitioned to permanent ones. The trade groups letter says that even with great optimism, they only expect about a quarter of the remaining provisional permit holderscould possibly be able to get their full license before the July 1st deadline. That will leave nearly 600 cultivators without a permit come July, putting them out of business. The letter states that these estimates “that approximately 75% of cultivators who entered the permitting process in good faith beginning in 2017 will be unable to obtain a state license,” and rightly, they call it out as being “unacceptable.” Their letter further goes on to detail what they believe are the problems with the county level licensing procedures. They also compare their plight to similar ones in other nearby counties such as Humbolt and Trinity. These counties, along with Mendacino, represent what is colloquilly known as the “Emerald Triangle,” famed for it’s deep roots in the cannabis industry. The executive director of the Mendocino Cannabis Alliance, Michael Katz, said if something drastic isn’t done, there will be a tremendous trickle down effect on the local economy due to so many hundreds of businesses having to close. He said, “It’s a community-wide socioeconomic collapse we’re headed for, if we can’t provide support to help the small-batch operators weather this downturn.” The letter was sent in early February, but thus far, they have not received a response from the Governor’s office, or the California Department of Cannabis Control. Florida voters approved medical marijuana in 2016, but recreational legalization efforts have thus far failed to yield positive results. There have been efforts though, by groups such as Make it Legal Florida and Sensible Florida, but unfortunately the state’s Supreme Court has ruled that their proposed measures had misleading language, and were therefore invalid. Now, though, things are looking more positive for a measure on recreational adult use possibly making it onto the 2024 ballot. In January, that measure hit a milestone of having enough signatures to initiate a state Supreme Court review of the measure’s language. That analysis by the state’s Supreme Court is still on-going. What they’re looking for in their review, and what they rejected past measures for, is that the measure’s text does not violate the state Constitution’s single subject rule. They also want to ensure that the text does not mislead voters in anyway. If the measure passes the Court’s review, then close to 900,000 signatures will be needed before it’s officially added to the 2024 ballot. So far they have aquired more than 420,000 signatures thus far, leaving a remaining 471,000 or so signatures needed. The group Smart & Safe Florida first filed the adult-use cannabis measure last summer. They are being funded almost entirely by Trulieve, who is currently the state’s largest medical marijuana operator, and they have contributed $25 million thus far to the legalization effort. If the measure is passed, it would take effect just six months after voters approve it. In 2021, a poll found that a 59% majority of Florida voters do support legalizing cannabis for adult use. This is a close enough margin, though, and there are strong political opposers, including the Governor, that means advocates will still have their work cut out for them if the measure ends up heading to the ballot. |
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