Both chambers of Colorado's legislature passed a bill that would tighten the rules governing MED and concentrates. The bill, which passed with overwhelming bipartisan support, would impose stricter packaging requirements on concentrates, tighten rules for 18-20 year olds' to obtain MED cards and limit, to 8 grams, the amount of concentrates a person can buy in a day.
Westword, Denver Post

The much amended bill does not include potency limits and other measures favored by some legalization critics. Nonetheless, it is as sweeping a measure of concern about potential dangers associated with high-potency products as has passed the legislature in any state.

That it happened in Colorado, the first state to open a legal REC market, suggests similar backlashes could arise elsewhere.

• Gov. Jared Polis (D), an industry ally, declined to comment to the Denver Post on whether he would sign the bill. A few weeks ago he signed a bill to double possession limits in the state.
  Marijuana Moment
• Industry group United States Cannabis Council declined to comment on the bill. The National Cannabis Industry Association did not respond to a request for comment.
• Tracking individuals' daily purchases has raised privacy concerns.
  Colorado Sun
• Cannabis Wire looks at who lobbied for and against the bill.

Related: A new study from the federal government's National Center for Education Studies found the number of students in grades 9-12 who had used marijuana in the past 30 days had barely changed between 2009 and 2019.

A new report from Key Investment Partners examines why bubbles burst in emerging industries like cannabis, crypto and psychedelics. 

• The paper asks why investors over-value and then undervalue companies in emerging sectors despite increasing consumer acceptance and interest. 
• It notes that cannabis capital markets are heavily affected by regulatory milestones and "comprehensibility," even though "there is frequently a disconnect between the capital markets performance of publicly-listed cannabis companies and the actual growth of the cannabis consumer markets."
• In cannabis, it identifies three and a half boom and bust cycles since 2014, when REC went on sales in Colorado (see above graph.)

Quick Hit

1. MJBiz looks at how operators use technology to get direct customer feedback.

Doings:

• Here are five non-gummie edible brands to watch, according to data firm BDSA. 
• After a Connecticut REC bill passed the state Senate, House Republicans want to wait before legalizing. This raises the possibility of a special session or a delay until next year. 
• MSO Curaleaf launched a brand in partnership with Rolling Stone magazine.
• Big California distributor Herbl acquired distributor and tech company Blackbird  for an undisclosed amount.
• Defunct media start-up Civilized is relaunching as Live Civilized. The company says it hopes to pay back freelancers and employees to whom it owes money.
  Business Insider
• Canna Law Blog answers your top six questions about ketamine clinics.
• WeedWeek contributor Jackie Bryant has a great story about whether stoned lobsters are less distressed when they're boiled to death.
  Cannabitch
• Washington state will give a free joint to adults who get vaccinated.
  CBS
• On Instagram, a clever variation of wake and bake.