August 26 2023,

THE BIG IDEA

Hi all,

As you can see in the poster above, I’m moderating an all-star webinar Monday on what all things hemp-derived mean for cannabis in California and beyond. Hope you’ll join us.

In more webinar news, the first WeedWeek webinar will be September 14 when Hirsh Jain discusses Persistent Problems in the California Market. Jain has a granular view of the licensed market and is sure to be very insightful. More details to follow. 

  • Email me if you’d like to be considered for future WeedWeek webinars, panels and virtual events.
  • Email me if you’d like to sponsor them. Since this is a new offering, we’ll be able to put together a great deal, tailored to your needs. 

Other than that, the newsletter will be off next week. Have a wonderful end of Summer everyone and get ready for a fall that will be many things, but not boring.

In the newsletter:

  • Why SAFE Banking hasn’t passed

Read up,

Alex

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WHY SAFE BANKING HASN'T PASSED

Safe Banking
Public domain

We all know the cannabiz is badly in need of a win. For several years now, the victory that has seemed tantalizingly close is federal banking reform.

The SAFE Banking Act would protect banks that offer the industry basic banking services. Versions of it have repeatedly cleared the U.S. House of Representatives with bi-partisan support.

Senate Majority Leader Chuck Schumer supports the bill and is reportedly “confident” it will pass this year.

So what’s the holdup?

QUICK HITS

Federal:

  • Substacker Aaron Edelheit spoke to some well-placed insiders about the rampant speculation that weed will be rescheduled to schedule 3 by the end of this year. While the industry prefers descheduling, he writes, “a lot of the fears of what a Schedule 3 reclassification would mean for state cannabis businesses are completely overblown.”

Business:

State and local:

Fun and interesting:

  • Oregon-made stoner comedy “We Need Rent Money” debuted in Portland.
    Willamette Week
  • Cheech & Chong, still smoking.
    Green State
  • Method Man and others are starring in a new scripted audio comedy about three Black friends trying to get into the game. It’s called ‘Yes We Cannabis.
    WEIS

CALIFORNIA HITS

State:

Business:

  • After successfully arguing that Pro Tech, a organization which signed with several cannabis companies, is a “fake union,” the Teamsters have filed a similar claim against another organization which has signed with Caliva, a brand owned by The Parent Company.  The Parent Company declined to comment. The story also notes that distributor Nabis signed a contract with Pro Tech.
  • Last week I reported on Catalyst CEO Elliot Lewis’ allegations that Glass House had contracts with “fake union” Pro Tech. He provided the contracts. Glass House didn’t respond to a request for comment.
    WeedWeek

Local:

Company milestones:

Upcoming:

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