On April 30, 2024, the Department of Justice submitted a formal proposal to the White House to loosen the restrictions placed on marijuana and formally recognize its medical use. Specifically, the proposal would reclassify marijuana from a Schedule I controlled substance to a Schedule III controlled substance. Since 1971, marijuana has been classified as a Schedule I controlled … [Read more...] about Tax Benefits to Arise from Department of Justice’s Move to Reclassify Marijuana
cannabis
White Earth man charged with felony cannabis possession for selling without a license
Todd Thompson, a White Earth tribal member, sold cannabis from his tobacco store in Mahnomen on the White Earth reservation in northern Minnesota. Photo by Max Nesterak/Minnesota Reformer. A White Earth tribal member who sold marijuana without a license has been charged with a felony for illegal cannabis possession by the Mahnomen County attorney, launching the first test of … [Read more...] about White Earth man charged with felony cannabis possession for selling without a license
Smoke Signals: The Unhinged Uprising of Cannabis in the Land of the Free
The air is thick with the scent of change, my friends. The federal leviathan, in its infinite wisdom, appears to be teetering on the precipice of reclassifying our beloved Mary Jane. This isn’t some half-baked rumor, mind you. This is coming straight from the horse’s mouth, or rather, the mouths of unnamed sources who’ve been whispering sweet nothings to the … [Read more...] about Smoke Signals: The Unhinged Uprising of Cannabis in the Land of the Free
New era for pot regulation leaves old problem: Many cannabis companies can’t find a bank
LOS ANGELES — The Biden administration's move to reclassify marijuana as a less dangerous but still controlled drug was hailed as a monumental step in reshaping national policy. But it might do little to ease a longstanding problem in the cannabis industry — a lack of loans, checking accounts and banking services that other businesses take for granted. Reclassifying Marijuana … [Read more...] about New era for pot regulation leaves old problem: Many cannabis companies can’t find a bank
Marijuana rescheduling leaves regulators and sellers cautiously optimistic
A move by the Biden Administration to change how marijuana is treated by federal authorities was met with cautious approval by Massachusetts state regulators, cannabis sellers, and national marijuana advocates alike. The Drug Enforcement Agency will drop marijuana from the list of banned substances found under Schedule I of the Controlled Substances Act, where it currently sits … [Read more...] about Marijuana rescheduling leaves regulators and sellers cautiously optimistic
Hemp Clothing Market to Hit $23B by 2031, Report Predicts
Hemp clothing is making a comeback, marking the hemp textile industry’s latest resurgence in the clothing sector. Researchers say the reasons for the surge include hemp’s notable sustainable and eco-friendly characteristics, and its return on investment. According to a March 26 press release, Allied Market Research, the hemp clothing industry is on a trajectory showing steady … [Read more...] about Hemp Clothing Market to Hit $23B by 2031, Report Predicts
Not a token step on cannabis: Federal downgrading of drug is welcome
United States drug policy this week moved one step closer to sanity. It’s got much further to go. We are not cannabis enthusiasts, nor do we love what legal and regulated substances like alcohol and tobacco do to human and public health. But dealing with those who sold and used pot through arrest, prosecution and occasional incarceration was cruel. It was wasteful. And it was … [Read more...] about Not a token step on cannabis: Federal downgrading of drug is welcome
Incrementalizing Cannabis
Senate Majority Leader Chuck Schumer (D-NY), center, and Sens. Cory Booker (D-NJ), left, and Ron Wyden (D-OR) conduct a news conference on the reintroduction of the Cannabis Administration and Opportunity Act, at the Capitol Visitor Center, May 1, 2024, in Washington. Nothing changes yet. Cannabis consumers could be forgiven for their frissons of excitement after news outlets … [Read more...] about Incrementalizing Cannabis
Hawaii Has Been Debating Marijuana Legalization For Half A Century
State Rep. John Carroll was fed up with Hawaii’s outdated marijuana laws. The Republican lawmaker had recently been at a rock concert where much of the audience had lit up — some right in front of police officers. Thousands of Hawaii’s citizens smoked pot, Carroll told the Honolulu Star-Bulletin newspaper, but nothing had been done to update the legal code to “better fit the … [Read more...] about Hawaii Has Been Debating Marijuana Legalization For Half A Century
Cannabis companies could see millions more in state social equity funds
Dozens of cannabis entrepreneurs were buoyed last month by the announcement of more than $2 million in grant funding from a unique state program for business owners from communities most affected by strict drug prohibition. Millions more may soon follow. The grants represented the first money released from the state’s Cannabis Social Equity Trust Fund, which channels money … [Read more...] about Cannabis companies could see millions more in state social equity funds