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Tag: Cannabis legalization

  • After years of vetoes, Virginia poised to launch adult-use cannabis market – WTOP News

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    Spanberger’s election clears the way for a regulated retail system, with legislators set to introduce a revamped bill shaped by months of hearings and equity debates.

    This article was reprinted with permission from Virginia Mercury

    After four years of stalled efforts and repeated vetoes from outgoing Gov. Glenn Youngkin, Virginia lawmakers now see a clear path to finally standing up a legal adult-use cannabis market.

    During her campaign, Democrat Abigail Spanberger, elected governor two weeks ago, pledged to sign legislation establishing a regulated retail system — reversing the impasse that kept marijuana sales in limbo since Virginia legalized possession and home cultivation in 2021.

    Lawmakers and advocates say the absence of a retail structure has fueled an unregulated market increasingly dominated by illicit operators.

    At its next meeting on Dec. 2, the Joint Commission on the Future of Cannabis Sales, which the legislature created earlier this year, will roll out its finalized proposal for a retail framework it hopes the General Assembly will pass during the 2026 session. If lawmakers send the bill to Spanberger’s desk early next year, sales could begin as early as fall 2026.

    The legislation will be carried by Del. Paul Krizek, D-Fairfax, the commission’s chair, and Sens. Louise Lucas, D-Portsmouth, and Aaron Rouse, D-Virginia Beach. Krizek told The Mercury in an interview last week that Spanberger’s election removed the biggest roadblock lawmakers had faced to date.

    He said the outcome was “a good day for public safety and for communities disproportionately affected by cannabis prohibition,” and a chance to finally direct tax revenue toward priorities such as job training and education. By contrast, he said, “It was a bad day for organized crime in the illicit cannabis market.”

    After years of pushing a bill under a governor “that was unwilling to discuss it at all and just vetoed our bill,” he said lawmakers now have the opportunity they have been waiting for.

    “We’ve got to stand up this legal marketplace sooner rather than later,” Krizek said.

    Final proposal pending

    At the December meeting, Krizek said, the commission will present a proposal that incorporates months of stakeholder testimony and adjustments intended to strengthen equity provisions and improve opportunities for small growers.

    He described the legislation as one that “addresses the historical injustice” and adds new programs to earlier drafts, including guaranteed shelf space at medical cannabis dispensaries for micro-enterprise farmers once adult-use sales begin.

    “There’s going to be a lot of new and interesting programs and good stuff in there that will help create a well-regulated market that’s going to be good for everybody,” he said.

    Krizek expects meaningful but not sweeping revisions to earlier proposals — changes “around the edges” based on feedback from stakeholders and the public.

    The extra time created by Youngkin’s opposition, he added, allowed lawmakers to refine the legislation. “The only good thing that the current governor has done for us is he has given us more time to perfect this bill,” Krizek said.

    But organized crime, Krizek said, “has had time to get a stranglehold on sales,” making it essential for the state to move quickly while still giving the Virginia Cannabis Control Authority enough time to roll out the marketplace.

    He noted that the strong election results and lessons learned from the commission’s hearings will shape the bill, and he expects those hearings to continue for at least the next two years.

    Spanberger said in an interview with The Mercury in August that she would sign the commission’s proposal.

    “I support a legal marketplace for cannabis,” she said at the time. “I want to ensure that it is fully regulated, people know what they’re buying, and revenues go towards education.”

    The commission’s summer hearings — its first round of work since its creation — included presentations on public safety, market structure, licensing and regulatory models.

    A long path to legalization

    Virginia legalized simple possession and home cultivation in 2021 under Democratic control and then-Gov. Ralph Northam. But creating a retail market required a second vote under the state’s reenactment clause.

    When Republicans took the House in 2022 and Youngkin expressed opposition to commercial marijuana sales, the process stalled. Still, lawmakers sent multiple versions of a retail bill to Youngkin, who vetoed every proposal, including the one he received earlier this year.

    With no legal retail option, unregulated storefronts and delivery services proliferated. Local officials have raised concerns about public safety and product testing, and law enforcement agencies have struggled to distinguish legal CBD products from illegal THC imports. But the refined proposal aims to create a regulated, equitable market after years of uncertainty.

    CCA launches new medical cannabis portal

    As lawmakers prepare for a broader retail system, the CCA last week rolled out a new online portal to streamline medical cannabis certification.

    “The new CCA Portal was designed with practitioners and patients in mind,” the agency said in a news release. The platform, which is mobile-friendly, “offers stronger protection for personal information, safeguards against fraud, and provides a simpler process,” while maintaining clear records of every change.

    Jamie Patten, the CCA’s acting head and chief administrative officer, called the upgrade “a major step forward for Virginia’s medical cannabis program. It’s safer, faster, and easier to use, and it helps us better protect patient information while supporting the integrity of the program.”

    Patients will now receive email instructions to view, save or print their certification for dispensary visits. Practitioners can print certifications as needed.

    Federal hemp restrictions unlikely to affect Virginia’s plans
    A continuing resolution passed by Congress last week included an agriculture appropriations bill that effectively shut down much of the U.S. hemp industry by reinstating stricter federal enforcement — a move that analysts say reverses the flexibility created under the 2018 Farm Bill.

    But Krizek said the federal action does not affect Virginia’s push for adult-use marijuana sales.

    “Our legislation is not a hemp bill,” he said. “This is creating a formalized and legal adult marijuana marketplace.”

    Cannabis equity advocates say Spanberger’s victory opens the door for stronger protections against market consolidation and more robust investments in communities disproportionately harmed by prohibition.

    Chelsea Higgs Wise, co-founder of Marijuana Justice, said the final bill should ensure fair competition by sequencing applications and limiting canopy size for pharmaceutical processors so they cannot dominate the market at launch.

    The legislation should set a uniform Jan. 1, 2027 start date, Wise said, so Virginia entrepreneurs can compete on equal footing, rather than allowing medical operators an early-sales advantage.

    She also urged lawmakers to clearly define what “equal and meaningful opportunity” means in licensing and ensure patient access is protected as the adult-use market comes online.

    Wise also called for stronger equity provisions, including updated language that explicitly acknowledges the harm of past prohibition and commits to repairing it through impact licenses, reinvestment programs and measurable small-business ownership goals.

    Lawmakers should include micro-licenses, delivery options, nursery and craft licenses, event permits, and direct-to-consumer sales opportunities for small cultivators, Wise further suggested. She supports a 10,000-plant cap to prevent consolidation by major operators and says half of the Cannabis Equity Reinvestment Fund should go to the Equity Business Loan Fund.

    With Spanberger set to take office in January and Democrats maintaining the legislature, lawmakers say Virginia is finally positioned to finish the work that began in 2021.

    “We’re going to make some real positive progress,” Krizek said. “This is the opportunity we’ve been waiting for.”

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  • The Power of the Down-Ballot: Why local races are crucial to cannabis legalization – Cannabis Business Executive – Cannabis and Marijuana industry news

    The Power of the Down-Ballot: Why local races are crucial to cannabis legalization – Cannabis Business Executive – Cannabis and Marijuana industry news

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    The Power of the Down-Ballot: Why local races are crucial to cannabis legalization – Cannabis Business Executive – Cannabis and Marijuana industry news




























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  • Could CBD, THC help quell migraines? | Cannabis – Medical Marijuana Program Connection

    Could CBD, THC help quell migraines? | Cannabis – Medical Marijuana Program Connection

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    Concentrates— highly potent extracts of THC that resemble honey or butter — come in a variety of forms, such as waxes, oils, crumble, BHO or shatter.

    </p> <p class="p1"> A <span style="font-family: "Lucida Grande", "Lucida Sans Unicode", Arial, Helvetica, sans-serif; font-size: 16px;">novel study performed by the University of San Diego found that a combination of CBD and THC was most effective in treating migraines as opposed to on their own.</span> </p> <p class="p3"> Ninety-two people with chronic migraines were selected as study participants. At random, participants were given cannabis flower that contained either 6% THC, 11% CBD, 6% THC and 11% CBD, or a placebo. </p> <p class="p3"> When a migraine occurred, participants were asked to inhale the cannabis for 5 seconds, hold their breath for 10 seconds, wait 45 seconds, and repeat the process four times. </p> <p class="p3"> Using an app on their phones, participants filled out a survey after an hour of treatment to measure the…</p> </div> <p><a target="_blank" href="https://world.einnews.com/article/706447614/Wvn5d00ia0NgiRzY?ref=rss&ecode=IfmR47p-7KfIc_fv" rel="noopener">Original Author Link click here to read complete story.. </a></p> <link href="https://assets.mantisadnetwork.com/recommend.3columns.css" rel="stylesheet" type="text/css"/> </div> <p>[ad_2]</p> <p> MMP News Author<br /> <br /><a href="https://mmpconnect.com/could-cbd-thc-help-quell-migraines-cannabis/?utm_source=rss&utm_medium=rss&utm_campaign=could-cbd-thc-help-quell-migraines-cannabis">Source link </a></p> </div> <div style="margin-top:var(--wp--preset--spacing--40);" class="wp-block-post-date has-small-font-size"><time datetime="2024-04-25T05:31:21-07:00"><a href="https://reportwire.org/could-cbd-thc-help-quell-migraines-cannabis-medical-marijuana-program-connection/">April 25, 2024</a></time></div> </div> </li><li class="wp-block-post post-1331023 post type-post status-publish format-standard has-post-thumbnail hentry category-business tag-canada tag-cannabis tag-cannabis-legalization tag-canopy-growth tag-drugs tag-germany tag-marijuana tag-marijuana-legalization"> <div class="wp-block-group alignfull has-global-padding is-layout-constrained wp-block-group-is-layout-constrained" style="padding-top:var(--wp--preset--spacing--60);padding-bottom:var(--wp--preset--spacing--60)"> <figure style="aspect-ratio:3/2;" class="wp-block-post-featured-image"><a href="https://reportwire.org/canopy-growth-shares-predicted-to-hit-zero-last-year-surge-as-germany-decriminalizes-cannabis/" target="_self" ><img src="https://reportwire.org/wp-content/uploads/2024/03/GettyImages-899559450-e1711145598287.jpg?resize=1200,600" class="attachment-post-thumbnail size-post-thumbnail wp-post-image" alt="Canopy Growth shares—predicted to hit zero last year—surge as Germany decriminalizes cannabis" style="width:100%;height:100%;object-fit:cover;" decoding="async" loading="lazy" /></a></figure> <h2 class="wp-block-post-title has-x-large-font-size"><a href="https://reportwire.org/canopy-growth-shares-predicted-to-hit-zero-last-year-surge-as-germany-decriminalizes-cannabis/" target="_self" >Canopy Growth shares—predicted to hit zero last year—surge as Germany decriminalizes cannabis</a></h2> <div class="entry-content alignfull wp-block-post-content has-medium-font-size has-global-padding is-layout-constrained wp-block-post-content-is-layout-constrained"><p> [ad_1]</p> <p></p> <p>Last summer, the survival of Canopy Growth was in doubt. This week, the Canadian cannabis company watched its stock rise by about 114%. </p> <div> <p>On Friday, Germany passed a measure <a target="_blank" href="https://www.politico.eu/article/cannabis-possession-cultivation-legal-germany-april/" rel="noopener" class="sc-47dba8f0-0 iRbseu styledLinkColor ">decriminalizing</a> possession and home cultivation of cannabis, starting on April 1. The measure won final passage in the Bundesrat, the upper chamber of Germany’s parliament, after some uncertainty. </p> <p>“The removal of narcotic status for cannabis is expected to accelerate growth of the German medical cannabis market,” the company said in a statement.</p> <p>Canopy, whose stock <a target="_blank" href="https://www.morningstar.com/news/marketwatch/20240322313/canopy-growths-stock-doubles-to-record-weekly-gain-after-germany-votes-to-legalize-pot" rel="noopener" class="sc-47dba8f0-0 iRbseu styledLinkColor ">rose nearly 36%</a> on Friday upon the news, owns the Germany-based vaporizer firm Storz & Bickel, giving it exposure to Europe’s largest economy. It also offers medical cannabis products through its Canopy Medical unit.</p> <p>The Friday rally added to an earlier one sparked by U.S. President Joe Biden’s State of the Union address on March 7, in which he <a target="_blank" href="https://www.nytimes.com/2024/03/08/us/politics/biden-marijuana-state-of-union.html" rel="noopener" class="sc-47dba8f0-0 iRbseu styledLinkColor ">mentioned</a> the rescheduling of cannabis. Vice President Kamala Harris <a target="_blank" href="https://www.politico.com/news/2024/03/15/vice-president-to-hold-cannabis-roundtable-00146564" rel="noopener" class="sc-47dba8f0-0 iRbseu styledLinkColor ">followed up by</a> saying marijuana’s “absurd” Schedule I classification—which includes heroin and LSD—should be rescheduled “as soon as possible.”</p> <p>Other cannabis firms, including Tilray Brands and Cronos, also jumped after the news from Germany. </p> <h2 class="wp-block-heading">Low times</h2> <p>Last summer, things looked far bleaker for Canopy. In late June, Benchmark analyst Mike Hickey <a target="_blank" href="https://fortune.com/2023/06/26/cannabis-pot-marijuana-canopy-growth-shares-analyst-zero-price-target/" rel="noopener" class="sc-47dba8f0-0 iRbseu styledLinkColor ">slashed the price target</a> on the company to zero, saying it “may not be able to continue operations and meet its financial obligations.” At the time, Canopy shares had fallen 78% for the year, and the company had acknowledged a going concern risk in its annual report. </p> <p>Benchmark wasn’t alone in warning about Canopy’s prospects. CIBC Capital Markets analyst John Zamparo wrote that the company was “burning cash despite multiple cost-cutting programs,” adding that even the U.S. legalizing marijuana, if it happened, would be “no savior.” </p> <p>In February last year, Canopy <a target="_blank" href="https://fortune.com/2023/02/09/cannabis-canopy-layoffs-pot-marijuana-industry-jobs-canada-black-market/" rel="noopener" class="sc-47dba8f0-0 iRbseu styledLinkColor ">cut its workforce</a> by 60%. CEO David Klein cited competition from Canada’s black market, which he estimated accounted for 40% of the nation’s cannabis sales.</p> <p>“Today, there are two very different cannabis markets in Canada,” he said at the time. “One that’s legal, highly taxed and regulated, and one that’s thriving and illicit.” </p> <p>Canada legalized the use of recreational marijuana in 2018, the same year that beer-and-wine giant Constellation <a target="_blank" href="https://fortune.com/2023/06/26/cannabis-pot-marijuana-canopy-growth-shares-analyst-zero-price-target/" rel="noopener" class="sc-47dba8f0-0 iRbseu styledLinkColor ">spent $3.8 billion</a> for a 38% stake in Canopy. That deal sent Canopy’s market valuation soaring, putting it in <a target="_blank" href="https://www.bloomberg.com/news/articles/2018-08-22/with-constellation-deal-canopy-is-emerging-as-the-google-of-pot" rel="noopener" class="sc-47dba8f0-0 iRbseu styledLinkColor ">the same league as</a> plane maker Bombardier Inc. </p> <p>Disappointment and uncertainty followed, but Canopy appears to be on steadier ground now. </p> </div> <div data-cy="subscriptionPlea">Subscribe to the CFO Daily newsletter to keep up with the trends, issues, and executives shaping corporate finance. <a target="_blank" href="https://www.fortune.com/newsletters/cfodaily?&itm_source=fortune&itm_medium=article_tout&itm_campaign=cfo_daily" rel="noopener" class="sc-47dba8f0-0 iRbseu styledLinkColor ">Sign up</a> for free.</div> <p>[ad_2]</p> <p> Steve Mollman<br /> <br /><a href="https://fortune.com/2024/03/22/canopy-growth-shares-surge-germany-decriminalizes-cannabis/">Source link </a></p> </div> <div style="margin-top:var(--wp--preset--spacing--40);" class="wp-block-post-date has-small-font-size"><time datetime="2024-03-22T15:31:10-07:00"><a href="https://reportwire.org/canopy-growth-shares-predicted-to-hit-zero-last-year-surge-as-germany-decriminalizes-cannabis/">March 22, 2024</a></time></div> </div> </li><li class="wp-block-post post-1181581 post type-post status-publish format-standard has-post-thumbnail hentry category-cannabis tag-cannabis-legalization tag-united-states"> <div class="wp-block-group alignfull has-global-padding is-layout-constrained wp-block-group-is-layout-constrained" style="padding-top:var(--wp--preset--spacing--60);padding-bottom:var(--wp--preset--spacing--60)"> <figure style="aspect-ratio:3/2;" class="wp-block-post-featured-image"><a href="https://reportwire.org/where-marijuana-will-be-legal-in-2024-cannabis-business-executive-cannabis-and-marijuana-industry-news/" target="_self" ><img src="https://reportwire.org/wp-content/uploads/2023/11/shutterstock_539633905.jpg" class="attachment-post-thumbnail size-post-thumbnail wp-post-image" alt="Where marijuana will be legal in 2024 – Cannabis Business Executive – Cannabis and Marijuana industry news" style="width:100%;height:100%;object-fit:cover;" decoding="async" loading="lazy" /></a></figure> <h2 class="wp-block-post-title has-x-large-font-size"><a href="https://reportwire.org/where-marijuana-will-be-legal-in-2024-cannabis-business-executive-cannabis-and-marijuana-industry-news/" target="_self" >Where marijuana will be legal in 2024 – Cannabis Business Executive – Cannabis and Marijuana industry news</a></h2> <div class="entry-content alignfull wp-block-post-content has-medium-font-size has-global-padding is-layout-constrained wp-block-post-content-is-layout-constrained"><p> [ad_1]</p> <div> <head><br /> <meta charset="UTF-8"/> <link rel="profile" href="http://gmpg.org/xfn/11"/> <p><meta name="robots" content="index, follow, max-image-preview:large, max-snippet:-1, max-video-preview:-1"/></p> <p><!-- Google Tag Manager for WordPress by gtm4wp.com --></p> <p><!-- End Google Tag Manager for WordPress by gtm4wp.com --><meta name="viewport" content="width=device-width, initial-scale=1"/> <br /> <meta http-equiv="X-UA-Compatible" content="IE=edge"/> <br /> <meta name="generator" content="Total WordPress Theme 4.9.9.2"/> </p> <p> <!-- This site is optimized with the Yoast SEO plugin v21.4 - https://yoast.com/wordpress/plugins/seo/ --><br /> <title>Where marijuana will be legal in 2024 – Cannabis Business Executive – Cannabis and Marijuana industry news





























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  • New Amendments To Marijuana Banking Bill Revealed – Medical Marijuana Program Connection

    New Amendments To Marijuana Banking Bill Revealed – Medical Marijuana Program Connection

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    A bill to give the regulated marijuana industry access to basic banking services was amended before being approved by a Senate legislative panel last week, with several of the changes designed to appease opposition from Republican lawmakers. The legislation, known as the Secure and Fair Enforcement Regulation (SAFER) Banking Act, was introduced on September 21 and was approved by the Senate Committee on Banking, Housing and Urban Affairs with amendments on Wednesday.

    Originally titled the Secure and Fair Enforcement (SAFE) Banking Act, the new version of the bipartisan legislation was introduced by Sen. Steve Daines, a Republican from Montana, and Oregon Democratic Sen. Jeff Merkley. If passed, the legislation would ease access to traditional banking services to cannabis companies operating legally under state or tribal law. Under current federal law, providing such services is strictly regulated, leaving many businesses—particularly small, independent operators—without access to bank accounts, credit card processing and other financial services. As a result, many businesses operate strictly in cash, leaving operators, their customers and staff vulnerable to crime.

    The new SAFER Banking Act is the result of months of negotiation between senators over several provisions of the original SAFE Banking Act. Under the measure, federal…

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  • Wisconsin Lawmakers Introduce Marijuana Legalization Bill – Medical Marijuana Program Connection

    Wisconsin Lawmakers Introduce Marijuana Legalization Bill – Medical Marijuana Program Connection

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    A pair of Democratic lawmakers in Wisconsin last week introduced legislation to legalize recreational marijuana for adults and establish a framework for regulated cannabis sales. If passed, Wisconsin would join the nearly two dozen states that have ended the criminal prohibition of marijuana.

    The bill was unveiled in a Wisconsin hemp farm on Friday by Sen. Melissa Agard, the state Senate Democratic Leader, and Rep. Darrin B. Madison. If successful, the measure would legalize cannabis use and the possession of up to five ounces of marijuana by adults aged 21 and older.

    “I’ve said this time and time again – we know that the most dangerous thing about cannabis in Wisconsin is that it remains illegal,” Agard said in a joint statement from the lawmakers. “For the past decade, I have worked to undo Wisconsin’s antiquated and deeply unjust marijuana policies and put our state on a prosperous path forward.”

    The bill would also remove criminal penalties for possession of marijuana by individuals under age 21, who would instead be subject to a fine for such offenses. Additionally, adults charged with possession of more than five ounces of cannabis would no longer face felony charges.

    Lawmakers Cite The Racial Inequities Of Marijuana Prohibition

    Noting that an ACLU report found that Black people in Wisconsin were more than four times as likely to be charged with a marijuana…

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  • Two-Thirds of Canadian Marijuana Dealers Falling Behind in Tax Payments, Report Finds – Medical Marijuana Program Connection

    Two-Thirds of Canadian Marijuana Dealers Falling Behind in Tax Payments, Report Finds – Medical Marijuana Program Connection

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    The decline of Canada’s legal marijuana trade has led to two-thirds of marijuana dealers falling behind in their tax payments, according to a federal report.

    “The total amount of unpaid cannabis excise duties has continuously been rising since legalization,” said a report by the Competition Bureau released May 26.

    As of September 2022, 66 percent of licensees required to remit excise duties had an outstanding debt with the Canada Revenue Agency, and unpaid taxes last year totalled $52.4 million, according to “Planting the Seeds for Competition”, as first reported by Blacklock’s Reporter. The report said the total unpaid cannabis excise duties is projected to nearly double to $97.5 million this year.

    The Competition Bureau wrote that following legalization in 2018, Parliament began taxing marijuana at $1 per gram plus GST, but with the average price per gram for dried cannabis falling since then, excise duties now take up a more significant portion of producers’ revenues, up to 30 percent or more.

    The report stated that until recently, cannabis producers licensed under the excise duty regime were required to remit excise duties to the CRA on a monthly basis. However, many producers found this challenging since not all buyers pay for products on a monthly basis. The report noted that the Ontario Cannabis Store, for example, has 60 days to pay cannabis producers for their products.

    The Department of Finance in Budget 2023 proposed to allow all cannabis…

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