Author: Ben Adlin
[ad_1] With the congressional effort to remove federal restrictions on marijuana banking still ongoing, a coalition of financial institutions has released new guidance for cannabis businesses trying to secure banking services. While compliance can be onerous compared to banking for most businesses, the report published on Monday by the Cannabis Industry Financial Group (CFIG) says it’s nevertheless possible for the marijuana industry to obtain above-board, reliable financial services without waiting for passage of the Secure and Fair Enforcement Regulation (SAFER) Banking Act. “While conflicts between federal and state cannabis policies remain, some financial institutions have chosen to offer banking services…
[ad_1] A state commission charged with studying how to legalize marijuana in New Hampshire has issued its final report, capping off months of meetings at which members failed to agree on a way forward for cannabis policy in the state. “Ultimately, the Commission voted not to recommend legislation for the 2024 Session,” the new report says. “The Commission was unable to reach a consensus because of a large number of unresolved issues.” As the new legislative session kicks off next month, says the report, submitted by commission chair Sen. Daryl Abbas (R), the commission “expects legislation to be introduced but…
[ad_1] Adult-use cannabis retailers in Illinois sold a record monthly amount of legal marijuana in November—to Illinoisans, at least. In terms of overall sales including those to out-of-state residents, last month saw the fifth-highest monthly figure since stores opened in January 2020. Total sales of recreational marijuana in Illinois totaled $139.1 million in November, the Illinois Department of Financial and Professional Regulation (IDFPR) reported on Monday. Of that, $105.5 million was sold to residents of the state, the agency said, and another $33.6 million was purchased by visitors. The figures do not include taxes. State-licensed retailers also sold more individual…
[ad_1] Findings of a study examining marijuana’s neurocognitive effects “suggest that prescribed medical cannabis may have minimal acute impact on cognitive function among patients with chronic health conditions”—which may come as a relief to long-term cannabis patients who are concerned about potential neurological drawbacks of the drug. Authors of the report, published last month in the peer-reviewed journal CNS Drugs, wrote that they found “no evidence for impaired cognitive function when comparing baseline with post-treatment scores.” To conduct the study, researchers had 40 people in Australia self-administer a single dose of medical marijuana in a laboratory setting, following instructions on…
[ad_1] A final vote on a bill to legalize marijuana in Germany that was initially planned for this week has been called off amid concerns from leaders of the country’s Social Democratic Party (SPD). The delay means that action on the landmark proposal will be postponed until next year. “It always has to be approved by the parliamentary groups in the end,” Dirk Heidenblut, an SPD member of Germany’s Bundestag who is responsible for the party’s cannabis policy, said in an Instagram post. “And if a faction leader, in this case the SPD, has concerns, then it cannot be set…
[ad_1] Despite fears by critics that marijuana legalization would lead to sharp increases in problematic use, newly published data from the federal Substance Abuse and Mental Health Services Administration (SAMHSA) shows that states where cannabis sales remained illegal typically had the highest rates of treatment admissions for the drug. The data, which was published last week and covers 2021, show admissions to substance use treatment services among people aged 12 and older who go to state-licensed facilities. All told, the SAMHSA report presents findings from nearly 1.5 million admissions nationwide over the course of the year. Of all the tallied…
[ad_1] Two new bills regarding medical marijuana have been prefiled for New Hampshire’s legislative session that begins in January, with at least seven others already requested by lawmakers. One of the two proposals prefiled on Friday, HB 1231, would allow patients and caregivers to cultivate marijuana for therapeutic use. It’s sponsored by Rep. Wendy Thomas (D), as well as fellow Democratic Reps. Maria Perez, Jodi Newell, Alissandra Murray and Jonah Wheeler. Thomas sponsored similar medical marijuana homegrow legislation last session. Under the new legislation, home cultivation would be limited to three mature cannabis plants, three immature plants and 12 seedlings,…
[ad_1] With oral arguments set for Monday in a federal court case over a proposed Philadelphia safe drug consumption site, counsel for the would-be facility sent a letter to the judge in the case on Thursday calling out the Department of Justice (DOJ) for taking apparently contradictory legal positions. In the Philadelphia safe consumption site case itself, the letter says, DOJ has argued that the harm reduction aims of Safehouse, the nonprofit attempting to open facility where people can use illicit substances in a medically supervised environment, are “socio-political” rather than religious. In a separate case involving an Episcopal church…
[ad_1] Friday marked one full year since legal recreational marijuana sales kicked off in Rhode Island, and officials say they’re proud of how the market is shaping up. “A year into adult-use cannabis sales in Rhode Island, we are proud of the careful execution that defined our entry into this industry,” said Gov. Dan McKee (D). “This success represents growing opportunity for our state’s economy but also for the nearly 70 licensed cultivators, processors, and manufacturers in the State of Rhode Island which we know are integral to our local cannabis supply chain.” In the past year, officials said, Rhode…
[ad_1] New Jersey has opened applications for the second phase of a marijuana social equity funding program, which will make $150,000 grants to awardees and offer eight weeks of technical assistance. The New Jersey Economic Development Authority (NJEDA) says the round of so-called Seed Equity grants will allocate “up to $8 million in funding for 48 entrepreneurs” who meet social equity qualifications and hold conditional marijuana licenses. Applicants must also employ 50 or fewer employees. Money can be used to cover early-state startup expenses and operating costs The online application portal for the new funding round officially opened on Thursday.…
[ad_1] Michigan’s Cannabis Regulatory Agency (CRA) has announced the launch of a brand new social equity grant program, which will award $1 million to eligible marijuana businesses for education, business needs or community reinvestment. Money for the grant program was appropriated in the state budget for 2023–2024 “to encourage and increase participation in the social equity program, with particular focus to promote and encourage participation in the marihuana industry by people from communities that have been disproportionately impacted by marihuana prohibition and enforcement,” says the grant application posted on Thursday. “I was honored to spearhead social equity funding in the…
[ad_1] California officials have begun accepting applications for the Cannabis Equity Grants Program for Local Jurisdictions for the coming fiscal year. The grants are part of the state’s effort to use cannabis tax revenue to fund equity programs for people disproportionately impacted by the drug war. The purpose of the program is “to advance economic justice for populations and communities impacted by cannabis prohibition and the War on Drugs by providing support to local jurisdictions as they promote equity in California and eliminate barriers to enter the newly regulated cannabis industry for equity program applicants and licensees,” a description says.…