Ohio’s adult-use cannabis market has seen an explosive start, generating over $11.5 million in revenue within the first five days of sales. This success suggests Ohio could reach $842 million in annual sales, surpassing even Michigan’s initial year. Major cannabis operators are also rapidly entering the market, with companies like Ascend Wellness Holdings and Verano Holdings reporting significant increases in customer traffic.
Delaware is accelerating its recreational marijuana program, opening applications for licenses on August 19. The state plans to issue 125 licenses across various categories, with a focus on social equity and micro-businesses. The application window will remain open until September 30, 2024.
This week in the cannabis industry, the Supreme Court’s recent ruling provides a legal avenue for cannabis companies to challenge tax burdens. Meanwhile, Ohio’s adult-use cannabis market is experiencing a successful launch, with sales exceeding expectations. The political landscape remains a key factor, with cannabis expected to be a hot topic in the upcoming November elections.
Republican Rep. Matt Gaetz, a longtime proponent of marijuana legalization, has surprisingly come out against Amendment 3, a Florida ballot initiative that would legalize recreational marijuana. Gaetz believes such issues shouldn’t be decided through constitutional amendments. This stance contrasts with his past support for cannabis, including his role in legalizing low-THC medical marijuana a decade ago and his recent proposal to stop testing military personnel for cannabis use. His opposition aligns with other Florida Republicans like Gov. Ron DeSantis, who vehemently opposes legalization. However, support for Amendment 3 remains strong among Floridians, with 66% favoring legalization. The outcome of the November vote remains uncertain, with a mixed bag of opinions among Republican leaders.
North Dakota voters will decide on the legalization of recreational marijuana in the upcoming November elections. The measure, which has garnered enough signatures to be placed on the ballot, could bring significant changes to the state’s legal and economic landscape. However, recent polling suggests that the initiative may face opposition from a majority of voters.
MariMed Inc. CEO Jon Levine presented the company’s robust Q2 performance, growth strategies, and expansion plans during a fireside chat. Levine highlighted the company’s focus on key states, including Illinois, Maryland, and Massachusetts, and its ongoing pursuit of M&A and licensing opportunities. He also addressed the potential for cannabis rescheduling, expressing optimism for progress in the coming year.
Traveling with marijuana, whether domestically or internationally, can have serious legal consequences. This article provides insights into the complexities of marijuana travel laws, including state-specific regulations, federal restrictions, and potential legal ramifications. It also emphasizes the importance of seeking legal advice before traveling with cannabis.
The Biden administration has formally proposed reclassifying marijuana as a less dangerous drug, a historic shift that would bring federal policy more in line with public opinion. Marijuana has been classified as a Schedule I drug under the Controlled Substances Act since 1970, meaning it is deemed to have no accepted medical use and a high potential for abuse. The proposal would downgrade marijuana to a Schedule III drug, putting it alongside drugs like ketamine and painkillers containing codeine, considered to have a moderate to low likelihood of dependence.
In a historic shift in American drug policy, the U.S. Drug Enforcement Administration (DEA) plans to reclassify marijuana as a less dangerous drug. This move, announced during an election year, comes as the Biden administration continues to prioritize marijuana sentencing reforms. The DEA’s proposal, if passed, would acknowledge the medical uses of cannabis and its lower potential for abuse compared to some other drugs. However, it would not legalize recreational marijuana use.
The 9th U.S. Circuit Court of Appeals has ruled that federal law trumps state law when it comes to marijuana distribution. The court upheld the revocation of a pilot’s certificate after he delivered marijuana by plane to retail stores in Alaska, despite the state’s legalization of recreational marijuana. The judges ruled that Congress has the authority to regulate airspace, which the pilot used to transport marijuana, and that marijuana remains illegal under federal law.
