Last week, in a standing room only, boiling hot room, Gov. Jared Polis signed six pro-cannabis bills into law.
Up first, a new law that opens up Colorado’s cannabis industry to outside investors for the first time. The measure was vetoed last year by then-Gov. John Hickenlooper.
Two stories below, that coincidentally quote Chuck Smith and Colorado Leads, shed some light on the new law.
“If everything goes as expected, Colorado legal cannabis industry is about to get a major windfall,” wrote Forbes.
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“The law is expected to bring new cash flow into Colorado as well as marijuana products from companies that previously were unable to do business in the state,: wrote Marijuana Business Daily.
Article Here »
Polis also signed social consumption legislation that creates a new license for cannabis retailers to sell marijuana products that could be consumed in a designated hospitality zone. Authorized medical cannabis shops will be able to deliver marijuana to patients starting in January 2020 under another bill. Recreational cannabis dispensaries will be able to make deliveries to adults 21 and older starting in January 2021. The social use and delivery proposals require that local communities opt in before businesses will be allowed to offer those services.
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An overview of the bills can be found here »
And here »
News
So why do people support cannabis legalization?
/in News /by AdminAs public support for legalizing marijuana has surged, a new Gallup poll finds 86% of U.S. supporters of legal marijuana saying its medicinal benefits are a very important reason they support legalization. Majorities also say freeing up police resources to focus on other crimes, respecting people’s personal freedom, and generating tax revenue for state and local governments are key reasons for their support.
View the Poll »
And finally… It’s possible this would improve morale at some jobs
/in Employment, Legislation /by AdminThis is from a report by CNN, which also cites the New York City Council passing a similar bill two months ago. As legalization continues throughout the country, will other states follow suit? Time will tell, although there are some exceptions to this policy.
The law does not apply to firefighters, EMTs, employees who operate a motor vehicle, or those who, in the determination of the employer, could adversely affect others’ safety. That’s probably for the best.
What a Difference a Year Makes
/in Investment, Legislation /by AdminLast week, in a standing room only, boiling hot room, Gov. Jared Polis signed six pro-cannabis bills into law.
Up first, a new law that opens up Colorado’s cannabis industry to outside investors for the first time. The measure was vetoed last year by then-Gov. John Hickenlooper.
Two stories below, that coincidentally quote Chuck Smith and Colorado Leads, shed some light on the new law.
“If everything goes as expected, Colorado legal cannabis industry is about to get a major windfall,” wrote Forbes.
Read More »
“The law is expected to bring new cash flow into Colorado as well as marijuana products from companies that previously were unable to do business in the state,: wrote Marijuana Business Daily.
Article Here »
Polis also signed social consumption legislation that creates a new license for cannabis retailers to sell marijuana products that could be consumed in a designated hospitality zone. Authorized medical cannabis shops will be able to deliver marijuana to patients starting in January 2020 under another bill. Recreational cannabis dispensaries will be able to make deliveries to adults 21 and older starting in January 2021. The social use and delivery proposals require that local communities opt in before businesses will be allowed to offer those services.
Read More »
An overview of the bills can be found here »
And here »
Grandma and Grandpa need some relief too.
/in Health, Sales /by AdminOne reason older people are turning to cannabis is because it can soothe the symptoms of problems like arthritis, Parkinson’s, and chronic pain. But a study published this month in the journal Drugs & Aging, found that a lack of research, unclear communication with doctors, and a reluctance to be honest about its use due to stigma, are all stopping older people getting the products they need.
“From a physician’s standpoint this study shows the need to talk to patients in a non-judgmental way about cannabis,” said one of the study’s co-authors. “Doctors should also educate themselves about the risks and benefits of cannabis and be able to communicate that effectively to patients.”
More Here »
U.S. Court of Appeals tells DEA to get its act together
/in Legislation, People /by AdminThe U.S. Court of Appeals for the Second Circuit (New York), in a groundbreaking decision, warned the DEA that it may take matters into its own hands if the DEA doesn’t “promptly” consider medical cannabis patients’ rescheduling request.
“Taking the facts as alleged, and, accordingly, taking the supposed benefits some Plaintiffs have experienced from marijuana as true as well, we—like the District Court below—are struck by the transformative effects this drug has assertedly had on some Plaintiffs’ lives. As a result, we are troubled by the uncertainty under which Plaintiffs must currently live.”
“It is possible that the current law, though rational once, is now heading towards irrationality; it may even conceivably be that it has gotten there already.”
Stay tuned …. Story here.
Robert Reich weighs in on why the country must legalize marijuana.
‘The federal prohibition of marijuana has been unnecessarily cruel—wasting billions of dollars, unjustly harming millions of lives, and furthering racist policies.’
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Banking, Banking, Banking
/in Banking, Legislation, Politics /by AdminThe federal banking bill could have implications beyond cannabis businesses, specifically in the trading game. Analysts see significant opportunities in the U.S. cannabis market if federal regulators here legalize the drug. That could be huge for exchange traded funds (ETFs).
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But maybe don’t take it to the bank
A pair of Republican senators told Marijuana Moment that they believe cannabis banking legislation has a shot of getting a hearing in that chamber after House passage.
“He didn’t say ‘hell no,’” Sen. Kevin Cramer (R-ND) said of a key Banking Committee Chairman Mike Crapo (R-ID), whom he pressed on the bill. “I thought he was quite open-minded to it.”
Banks that serve lawful marijuana businesses would be protected from a crackdown by financial regulators such as the U.S. Department of Treasury under a provision in a draft congressional spending bill.
“None of the funds made available in this Act may be used to penalize a financial institution solely because the institution provides financial services to an entity that is a manufacturer, a producer, or a person that participates in any business or organized activity that involves handling marijuana, marijuana products, or marijuana proceeds, and engages in such activity pursuant to a law established by a State, political subdivision of a State, or Indian Tribe ….”
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Tourism dollars are tourism dollars no matter where they come from
/in Tourism /by AdminA study of Colorado residents’ attitudes about cannabis tourism found that those who are “highly attached” to the state “held a positive image of their place, which in turn influence[s] their support of marijuana tourism.”
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Clock is running out . . .
/in Sports /by AdminNational Basketball Association Commissioner Adam Silver spoke about the league’s consideration of amending its marijuana policies. Warning: it glosses over most of the reasons players say they use cannabis.
View the Video »
National Football League team owners are reportedly open to supporting a loosening of restrictions on marijuana use by players. The NFL and NFLPA announced last week they were forming a joint committee that will study the prospective use of marijuana by players as a pain-management tool.
Related: Recently retired NFL defensive end Chris Long recently created a stir by acknowledging he smoked marijuana during his playing career. Long hopes that his candor regarding marijuana use will help remove the lingering stigma.
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Want to get away?
/in Events /by AdminMJBizDaily is hosting its first Latin American Cannabis Symposium in Bogotá, Colombia starting September 20, 2019 and ending October 1, 2019.
In attendance will be Industry leaders, investors, researchers, government officials and peers for two days of networking at the luxurious Grand Hyatt Bogotá. MJBizDaily’s professional journalists and international analysts lead educational sessions with a focus on the cannabis markets and opportunities in Latin America and the Caribbean.
The cannabis eclipse
/in Sales /by AdminRetail sales of medical and recreational cannabis in the United States are on pace to eclipse $12 billion by the end of 2019 – an increase of roughly 35% over 2018 – and could rise as high as $30 billion by 2023.
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