Hi all,

It was a bit of a slow news week, by weed standards anyway.

Let’s get to it,

Alex

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Marijuana arrests continue to outpace arrests for other drugs in states where prohibition remains partly or largely in place, according to FBI data for 2023.

NORML:

In three states (Iowa, Louisiana, and Nebraska), more than half of all drug-related arrests reported by local law enforcement agencies were cannabis-related, according to data provided by the FBI for the year 2023.

In ten other states (Alabama, Idaho, Indiana, Kansas, Mississippi, North Dakota, South Carolina, Utah, Wisconsin, and Wyoming), more than 40 percent of all drug-related arrests were for marijuana-related violations.

Read the post

Federal:

• The Wall Street Journal called legalization a “rare bipartisan issue” in the election.
• A federal appeals court has set a December date for a hearing in a high profile case challenging federal prohibition.
  Marijuana Moment

Business:

• Trulieve CEO Kim Rivers is barnstorming Florida in support of the upcoming REC initiative.
  Florida Phoenix
• The American Institute of CPAs asked the IRS for guidance on industry-hated tax rule 280E and possible federal reform.
  CPA Practice Advisor
• Safe Harbor Financial sued the leadership of fintech Abaca which it said it would acquire for $30M in 2022. The allegations involve how Abaca would be paid.
  Green Market Report
• REIT Chicago Atlantic borrowed $50M.
  New Cannabis Ventures
• Investors sued Weedmaps alleging misleading and false statements echoing allegations in a recent settlement the company made with the SEC.
  Green Market Report

State and local:

• Massachusetts named the final four candidates to lead its beleaguered regulator.
  Grant Smith-Ellis
• The director of Alaska’s REC market resigned.
  Alaska Beacon
• A state audit found major flaws in the Washington state’s seed to sale tracking system.
  MyNorthwest.com
• Kansas law enforcement argued legalizing MED would be a ‘train wreck.’
  High Plains Public Radio
• Arkansas’ supreme court ruled votes in an initiative to expand the MED market won’t be counted after determining the language wasn’t adequate for what it would do.
  AP
• Minnesota’s REC market is looking set to open next year.
  CBS
• Oregon regulators are cracking down on testing labs. Here’s a discussion at Canna Law Blog.
  Portland Business Journal
• New York fined an unlicensed operator $9.5M.
• Delaware awarded its first REC licenses for growing and manufacturing.
  Delaware Online
• The managers of New York’s equity fund made $1.7M despite charges that it failed in its mission.
  The City
• Oregon outdoor growers are enjoying a strong harvest.
  MJBiz
• New Mexico operators sued the feds alleging unlawful seizures by Customs and Border Protection.
  MJBiz
• Maine expanded a recall of one operator’s products.

Fun and interesting:

• Willie Nelson is organizing a virtual Cannabis Community for Kamala event.
  Marijuana Moment

State:

• Consultancy Higher Origins takes a look at licensing trends in Q3.
• The state seized more than $70M in illegal weed in Q3.
  KRON4

Business:

• SFGate visits Terpene Belt Farms, one of the state’s largest hemp growers.

Local:

• Alex Archer with CannDev sees opportunity in Marin County.
• Sacramento Co. banned the sale of some hemp products.
  KTXL
• Long Beach may allow consumption at public events.
  NBC
• San Pablo (Contra Costa Co.)
• Santa Monica pot shops want to stay open after 8 pm, due to customer demand.
  Santa Monica Mirror

Company milestones:

• Catalyst Lynwood (LA Co.) opens this weekend.
• Mike Tyson’s brand Tyson 2.0 announced a manufacturing and distribution partnership with LYT Holdings.
  Benzinga
• The LA Times check’s out The Artist Tree‘s new LAX-area lounge.