There have been more than enough fits and starts, but it appears that New York is finally going to legalize cannabis for adult use. It has been widely reported that Governor Andrew Cuomo and representatives from the New York Senate and Assembly negotiated over the weekend to reach a deal on New York State Senate Bill S854A. The Bill is expected to be put to a vote later this week.
Read MoreThis week, State Representative La Shawn Ford announced a bill* that he hopes will allow the Illinois dispensary rollout to move forward and advance social equity goals. While these are great goals, we think the bill will not accomplish either.
Read MoreThe Commonwealth of Virginia is very close to becoming the 16th state (plus Washington D.C.) to legalize recreational “adult use” cannabis. It would also become the first “Southern” state to do so. Neighbors such as Tennessee, North Carolina, South Carolina and Georgia have extremely limited medical programs, while West Virginia and Florida have full medical cannabis programs. But none have adult use programs, and so Virginia is on the verge of becoming the reform leader in the region. Virginia is also the third state to have passed legalization through legislation.
Read MoreBack in November, New Jersey residents voted to approve a constitutional amendment legalizing the use of recreational cannabis for adults 21 and over. That amendment took effect January 1, 2021, which was supposed to mark a new era in New Jersey. But that did not happen.
Read MoreYesterday, Connecticut Governor Ned Lamont filed legislation that would establish an recreational (“adult use”) cannabis market in the State. The Governor’s proposal would create a licensing process for cultivators, retailers, micro-cultivators, product manufacturers, food and beverage manufacturers, product packagers, and delivery services.
Read MoreTexas is heading for a boom—it is attracting tech businesses and growing its population, as individuals transplant from other states looking for a lower cost of living and better quality of life. Texas also has a fledgling medical cannabis program that may be headed for a boom as well. Texas’s medical cannabis program is small in both patient size and product offering, but there is a seed that can sprout growth.
Read MoreIn a historic move, the U.S. House of Representatives approved the MORE Act today, a federal marijuana decriminalization bill. Not surprisingly, the votes largely went along party lines—222 Democrats, five Republicans, and a Libertarian voted in favor, while 158 Republicans and six Democrats voted against the measure.
Read MoreFor the last several years, the U.S. House of Representatives has offered many cannabis-related reform bills. Most of those bills (with the exception of the SAFE Banking Act bills) appeared largely symbolic because there was virtually no chance that, even if passed, they would be taken up by the U.S. Senate.
Read MoreThose who follow the cannabis industry (and our blog) well know by now that federal cannabis reform is speculated about regularly, but has not seen much tangible progress to date. Industry followers also know that lack of access to traditional banking and financing remains a major handcuff on most industry participants. While some have been able to navigate these constraints better than others, there can be no reasonable debate that this issue is a prevalent hindrance on the industry.
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