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August 1 2024,
THE BIG IDEA
Hi all,
Lots going on as usual. Let’s get to it.
- Reschduling would allow brands to advertise
Plus, so much more,
Alex
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RESCHEDULING WOULD ALLOW BRANDS TO ADVERTISE: AGENCY
In an analysis of rescheduling, the federal Congressional Research Service determined that moving to schedule III would lift an existing prohibition on advertising cannabis. It also affirmed that it would end industry hated tax rule 280E.
Marijuana Moment
However, the late July report determined that complications would remain:
“If marijuana moves to Schedule III, most of the consequences for its use or for marijuana-related convictions would remain the same…While the use of marijuana by prescription for medical purposes would become lawful, marijuana products that are available in dispensaries in many states across the country are not currently available via lawful prescription. It is uncertain if or when these products might be approved for such use and available via lawful prescription if marijuana is rescheduled to Schedule III.”
QUICK HITS
Federal:
- Senator Thom Tillis (R-N.C.) called for cannabis to be regulated like tobacco.
Business:
- MSO Verano paid rival The Cannabist $105M for operations in Virginia and Arizona.
MJBiz - Weedmaps released delayed earnings for Q1 and 2023.
- MSO Trulieve gave another $5M to Florida’s upcoming REC initiative. Its total contribution is approaching $60M.
Florida Politics - An exec with aeroponic growing MSO Aeriz celebrates the growing method.
Cannabis & Tech Today - Canna Law Blog argues the future isn’t bright for intoxicating hemp products.
- Activist and entrepreneur Jane West appeared on a Dr. Phil episode entitled “Is it just weed?”
- Honeysuckle profiled Sharoz Makarechi, the SoCal impresario behind Substance and other equity-focused brands.
State and local:
- Members of anti-legalization groups sued New York regulators.
Law.com - Massachusetts’ regulatory agency won’t be put into receivership.
Boston Herald - Despite legal REC, Maryland’s illicit market is ‘alive and well.‘
The Baltimore Banner - The struggling D.C. market saw a rise in patients, but not in sales.
The Outlaw Report - Oklahoma created stricter standards for product testing.
MJBiz - Virginia fined more than 300 retailers $11M for selling hemp-derived products.
Axios Richmond - Missouri banned intoxicating hemp products.
AP
Health and safety:
- Lab execs have identified a “soup” of unknown chemicals in hemp-derived products, which they believe stem from the process of converting CBD into THC and other intoxicating cannabinoids.
MJBiz - The federal National Institute of Drug Abuse (NIDA) awarded researchers $2.9M to make cannabis warning labels more effective.
Marijuana Moment - A man was arrested after he ate 10 edibles and tried repeatedly to open the door on an American Airlines flight, forcing it to be diverted.
McClatchy
Fun and interesting:
- Influencer @jesssaland put RSO in her belly button.
- How to grow weed in your apartment.
Curbed
CALIFORNIA HITS
State:
- The State Fair announced the winners of Golden Bear awards for top cannabis products. Review site Budist served as the judging platform. Here are all the winners.
Forbes - In an editorial, an activist warns that a bill intended to regulate intoxicating hemp products would make it more difficult for some to obtain non-intoxicating CBD.
Capitol Weekly - A federal judge threw out RICO claims made by six potcos against the city of Cudahy (LA County).
Law360
Business:
- Vertically integrated StateHouse reported flat revenue.
Benzinga - Testing lab CCTL is fighting its recent shuttering by the state. They’ll be back before a judge next Friday lawyer James Anthony tells WeedWeek.
WeedWeek, Green Market Report - Stiiizy is “getting buried in lawsuits,” SFGate reports. The state’s most popular brand gave $230,000 to the city of Pomona.
Recalls etc.:
- The Department of Cannabis Control (DCC) issued a consumer advisory for Kush Creaturz flower products, distributed by Riverside Co.-based GC Global, because of a label deemed appealing to children.
Redheaded Blackbelt - The agency issued a notice of mandatory recall for a batch of Lowell pre-rolls contaminated with the mold aspergillus niger.
Local:
- Santa Monica’s second REC shop opened. It’s Harvest House of Cannabis, owned by MSO Trulieve.
Santa Monica Daily Press - Carlsbad could be the first city in San Diego Co. to ban smoking — tobacco and cannabis — in apartment buildings, both owned and rented.
San Diego Union-Tribune - Sales in Fresno are growing, contrary to Central Valley trends.
Modesto Bee - Retailer The Artist Tree gave $40,000 to Fresno non-profits.
GV Wire - Tourism is on the rise in Humboldt.
KIEM
Recognition:
- Time magazine named the 420 very friendly Mine + Farm Inn in Guerneville (Sonoma Co.) one of the 50 best places in the world to stay, the only California destination so honored.
SacBee
HIGH SOCIETY
Glass House president Graham Farrar shows off his hardware at the California State Fair with Ananda Consulting‘s Hirsh Jain. Glass House’s Lilac Diesel strain won the Golden Bear award for mixed light (greenhouse) flower.
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