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 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 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 MoreIn a rare move, the Supreme Court of Florida has asked for a second round of oral arguments in the Florigrown matter. As we wrote about here, this case will determine whether Florida’s medical marijuana licensing framework, which effectively requires vertical integration by each licensee, is constitutional.
Read MoreIt is hard to underestimate the impact that the coronavirus and its related fallout—economic and otherwise—will have on the cannabis industry. Some of that impact will be decidedly negative. For instance, as we wrote about recently, cash is harder to come by for cannabis companies right now.
Read MoreAs we arrive at the middle of June, the Illinois Department of Financial and Professional Regulation (IDFPR) has not issued any conditional adult-use cannabis dispensary licenses and, as we recently wrote about here, it may be a while before the licenses are issued. Nevertheless, those licenses will be issued eventually, and it is important that cannabis entrepreneurs begin evaluating their next steps.
Read MoreFull disclosure: David Belsky is a personal friend (don’t hold it against him) and his company, FlowerHire, is a firm client. He is also one of the foremost authorities on placing talent in the regulated cannabis and hemp industries. Earlier this week, Forbes posted a great interview with Belsky that we highly recommend.
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