Jurisdiction: Federal

Cannabis Industry Needs to Focus on Data Security

Two of the biggest news drivers in the business world in recent years have been cannabis and data security. But they are usually discussed separately; there has not been much of a sustained focus on data and cybersecurity in the cannabis industry. We hope that changes because the cannabis industry is particularly vulnerable to data security issues.

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SAFE Banking Act in “Stall Pattern”

After passing the House in September with bipartisan support, the SAFE Banking Act seemed to have momentum. Senate Banking Chair Mike Crapo even stated he wanted his committee to mark up the bill before the end of this calendar year. But after committee members raised a few small issues, negotiations slowed significantly, eviscerating the bill’s previous momentum.

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Vaping Health Issues Not Souring Americans on Marijuana Legalization

The deaths and injuries traced to vaping have rattled Americans generally and the cannabis industry particularly, as at least some of the cases appear traceable to cannabis vaping products. According to an article in Forbes, however, the vaping incidents have not yet dampened American support for legal marijuana, which remains steady at 66% in a recent Gallup survey.

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Attorneys General Urge Congress to Allow States to Decide Whether to Legalize Marijuana

Last week, a bipartisan group of 21 state attorneys general sent a letter to congressional leaders imploring Congress to pass marijuana reform legislation. Specifically, the letter exhorts Congress to pass the proposed Strengthening the Tenth Amendment Through Entrusting States Act (the “STATES Act”), or similar legislation, that would “allow each State and territory to determine, for itself, the best approach to marijuana legalization within its borders, while at the same time creating protections to ensure that such regulation does not impose negative externalities on those states and territories that choose other approaches.”

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The Marijuana Job Market Is Lit

The cannabis-related job market continues to expand according to a PoliticoPro report (subscription required) that analyzed data from Indeed.com, an employment search engine. In May 2016, cannabis job postings accounted for 231 per million total job postings. By May 2019, that number has increased nearly four-fold to 915 postings per million.

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