Ensuring Entrepreneurs and Businesses Stay Informed of Developments in the Burgeoning Cannabis Industry
Yesterday, Mexico’s Senate approved a bill that moves it closer to becoming the third country to legalize recreational cannabis. While the bill still needs to be approved by the Chamber of Deputies before it goes to President Andrés Manuel López Obrador’s desk, there is renewed optimism that the three-year-old legalization process may soon be completed.
Read MoreAs we wrote about here, cannabis had a banner night across the country on Tuesday as five states passed ballot initiatives legalizing cannabis in some fashion. Additionally in Illinois, a state that legalized recreational cannabis through legislation, voters signaled their approval of legalized cannabis in a different way. While the election results are not yet final, voters in Batavia, Elk Grove, Glen Ellyn, Mount Prospect, Park Ridge, and Wilmette appear poised to approve the sale of recreational marijuana within those cities.
Read MoreIt’s not an exaggeration to say that the only consistent thing in the past few American elections has been support for cannabis legalization. Democrats, Republicans, and independents in red, blue, and purple states all seem ready to decriminalize and legalize cannabis. 2020 was no different; voters approved cannabis legalization measures in every state offering them on the ballot.
Read MoreMontanans will vote on a recreational marijuana legalization effort this year, but if it passes (and polls show it is expected to) will it ever be implemented? If the Wrong For Montana (“WFM”) campaign has its way, the initiative will be tossed aside before it ever gets under way.
Read MoreSeveral states are advancing adult-use cannabis legalization efforts, but Pennsylvania Governor Tom Wolf is again promoting a unique approach to a recreational marijuana market: state-run marijuana distribution. A recent article in PoliticoPro (subscription required) dives into the issue and provides great context and analysis on whether this proposal is feasible and its chances to succeed.
Read MoreYesterday, Vermont became the 11th state to legalize recreational marijuana sales and the second to do so via legislation (Illinois was the first in 2019). The State House of Representatives and State Senate previously approved a compromise bill legalizing marijuana sales and establishing a framework to regulate it, as we wrote about here.
Read MoreIt’s been a tough month for the state of Illinois when it comes to issuing new cannabis licenses, and here is a recap of why
Read MoreWhile possessing and growing small amounts of marijuana has been legal in Vermont since 2018, it is still illegal to sell marijuana. A legal retail market may be on the horizon though, as the State House of Representatives and State Senate have approved a compromise bill that would legalize marijuana sales. The bill sets up a new Cannabis Control Board that would be responsible for regulating the cannabis market, including issuing licenses. Under the bill, cannabis products would be charged a 14% excise tax in addition to the state’s standard 6% sales tax.
Read MoreLast Friday, a bipartisan bill was introduced in the House of Representatives that would legalize cannabidiol (CBD) and other hemp-derived products for use in dietary supplements. The bill—H.R. 8179—was co-sponsored by Rep. Kurt Schrader (D-OR) and Rep. Morgan Griffith (R-VA) and is referred to as the “Hemp and Hemp-Derived CBD Consumer Protection and Market Stabilization Act of 2020.”
Read MoreOn September 21, 2020, the House of Representatives is scheduled to vote on the “Marijuana Opportunity Reinvestment and Expungement Act” or “MORE Act.” We have written about the MORE Act previously here and here. The MORE Act does not legalize marijuana nationwide, but it does remove cannabis from Schedule I of the Controlled Substances Act (thus decriminalizing it under federal law and allowing states to decide whether to legalize). It also requires the expungement of certain marijuana-related criminal records and provides for grants to communities impacted by the War on Drugs.
Read More
