Cannabis monthly sales reached the highest monthly total ever in August, according to the Colorado Department of Revenue. In the first eight months of 2019, Colorado has reported over $1.15 billion in dispensary sales – indicating that the industry is on track to eclipse last year’s overall sales of $1.55 billion.
Axios looks at Colorado House bill 1090, which takes effect next month. The new law permits investment opportunities for publicly traded companies, venture capitalists and private equity firms, which were previously barred.
Colorado Leads members last week met with U.S. Sen. Cory Gardner, who introduced the STATES Act with Massachusetts Democrat U.S. Sen. Elizabeth Warren. The bill would amend the Controlled Substances Act so states have the right to decide whether to legalize marijuana without facing repercussions from federal law enforcement.
Gardner noted that the winds of change are moving slowly through Congress, but they are blowing in the right direction. Senators who wouldn’t touch the issue a year or two ago are now open to discussing it.
Gardner is also a co-sponsor of the SAFE Banking Act, which would prevent federal banking regulators from prosecuting banks for working with cannabis-related businesses that comply with state laws.
Marketwatch takes a deep dive into the mixed results of cannabis equity programs, the hurdles facing people of color trying to break into the cannabis industry and some prominent figures in the industry who made equity and diversity a cornerstone of their business plan.
There are now more than 211,000 cannabis jobs across the United States (296,000 if indirect jobs are included). More than 64,000 of those jobs were added in 2018. That’s enough people to fill Chicago’s Soldier Field, with 3,000 more tailgating outside.
The number of “plant-touching” jobs is expected to pass 500,000 by 2022 and employ 630,000 people by 2025, according to New Frontier Data, a cannabis market research and data analysis firm.
These jobs don’t take into account industries that rely on the cannabis economy, including financial, legal, real estate, construction and other professional services. And because cannabis remains illegal at the federal level, employment data agencies such as the Bureau of Labor Statistics don’t track jobs related to the cannabis industry.
Cannabis opportunities on reservations?Democratic presidential hopeful and U.S. Sen. Elizabeth Warren, D-MA, makes the argument that Indian tribes have the right to legalize cannabis without federal interference, and:
“A number of Tribal Nations view cannabis as an important opportunity for economic development,” she said.
Give us a hugIs the federal government embracing the reality of cannabis legalization? Okay, that might be a step too far, but it appears the National Institute on Drug Abuse’s position is evolving. The agency wants to fund studies that look at regulations, industry marketing and reasons for medical cannabis use.
Colorado helps others legalize the responsible wayThe National Foundation for Women Legislators hosted a Marijuana Policy Summit in Colorado last week, touring cannabis dispensaries and discussing CBD, licensing, potency, revenue and health and safety. About 30 elected women whose states or municipalities are considering legalization, or have already legalized cannabis, attended the summit.
Medical refugees. That’s the term now given to people who move to other states to access legal cannabis for medical reasons. Groups, such as Colorado-based American Medical Refugees, help families hoping to connect with those in similar situations and find resources.
A new Marijuana Policy Project report looks at top 10 “marijuana policy wins” of the year and provides updates at the state-level and in Congress. Colorado is the only state to appear twice in the top ten: #7 for onsite consumption and #8 for home delivery.
Illinois, which was #1, became the first state ever where the legislature — as opposed to voters — passed a comprehensive adult-use legalization law that includes regulated sales.
Researchers at the United States Department of Agriculture’s Forest Services found that illegal marijuana grow operations on federally protected lands fell after states began legalizing it for adult use.
“Outright, national recreational cannabis legalization would be one means by which illegal growing on national forests could be made to disappear,” they found.
Colorado nurses have launched a hotline, Leaf411, to answer questions about cannabis. They said they expect many of their callers to be senior citizens, a growing user demographic that’s more likely to need health care and use the phone.
