A recent petition calling for the decriminalization of cannabis in Poland has sparked a significant debate, with the Parliamentary Committee on Petitions sending a formal request to Prime Minister Donald Tusk for his consideration. This move signifies a potential shift in the country’s cannabis policy, prompting discussions about the potential impacts on young voters and the overall legal landscape.
The 2024 US elections brought a mixed bag for cannabis reform efforts. While some states saw advancements like the legalization of medical cannabis in Nebraska and the decriminalization of small amounts in Dallas, Texas, others, including Florida, North Dakota, and South Dakota, rejected adult-use legalization. These varying outcomes underscore the complex and evolving landscape of cannabis policy across the nation, showcasing both growing support and persistent opposition.
Trulieve Cannabis Corp. (TCNNF) reported a 3% revenue increase in Q3 2024, reaching $284 million. However, net loss widened to $60 million, driven by campaign support expenses and other non-recurring charges. The company remains optimistic about Florida’s upcoming vote on cannabis legalization, positioning itself to capitalize on potential recreational sales next spring.
With tax season approaching, the American Institute of CPAs (AICPA) is calling on the IRS to prepare for potential changes impacting cannabis businesses. The AICPA has submitted recommendations to the U.S. Treasury and IRS to clarify tax obligations for cannabis operators if marijuana is reclassified as a Schedule III substance, as recommended by the Department of Health and Human Services. This reclassification could allow cannabis businesses to deduct operating expenses currently restricted under Section 280E, potentially leading to significant tax relief.
A new federally funded study has found no evidence to support claims that marijuana is widely laced with fentanyl, contradicting assertions made by Sen. JD Vance (R-OH). Despite the study’s findings and a similar report by the DEA, Vance continues to link fentanyl to the Biden-Harris administration, raising concerns about the potential spread of misinformation.
Trulieve Cannabis Corp. CEO Kim Rivers is calling out anti-cannabis ads in Florida as misleading and fear-mongering. She argues that Amendment 3, which would legalize recreational cannabis for adults, is about economic growth and opportunity, not creating a monopoly. Rivers also addressed concerns about child safety, emphasizing strict packaging regulations that would remain in place.
A federal judge in Seattle has upheld an arbitration order requiring Alaska Airlines to rehire a mechanic fired for testing positive for cannabis in 2022. The case highlights the conflict between state marijuana legalization and federal drug policies, raising crucial questions about employee rights and workplace safety in the evolving landscape of cannabis use.
Vice President Kamala Harris’s proposal to federally legalize marijuana is gaining praise from cannabis industry leaders who see it as a crucial step toward addressing the disproportionate impact of marijuana criminalization on Black communities. The plan includes expungement of nonviolent convictions, targeted grants for Black entrepreneurs, and reforms to housing policies, all aimed at creating economic opportunities and fostering social justice.
The US Department of Justice is defending the nationwide ban on cannabis, arguing that Congress has the authority to regulate marijuana under the Commerce Clause, despite its legalization in many states. This legal battle, which could potentially overturn the federal prohibition, is being spearheaded by Massachusetts-based retailer Canna Provisions Inc. and supported by companies like Verano Holdings. The case hinges on the Supreme Court’s 2005 decision in Gonzales v. Raich, which upheld federal prohibition. The plaintiffs, led by renowned attorney David Boies, contend that the widespread legalization of cannabis across states and changing federal enforcement policies necessitate a reexamination of the federal ban. This legal battle occurs concurrently with the Biden administration’s review of cannabis rescheduling, which is one of three potential paths toward federal legalization.
Florida’s Amendment 3, aiming to legalize recreational marijuana, faces scrutiny as Governor Ron DeSantis opposes the amendment and draws flak for refusing to extend the voter registration deadline during Hurricane Milton evacuations. Meanwhile, cannabis companies brace for the storm’s impact.
