Congressman: psychedelic “magic cure”; Colombia legalization; LA marijuana bill; NV casinos & cannabis report; Study: Marijuana as opioid alternative
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/ TOP THINGS TO KNOW
Several lawmakers spoke at an event about the need for federal cannabis reform, with Rep. Ilhan Omar (D-MN) saying “it’s about damn time Congress caught up” with voters on the issue and Rep Steve Cohen (D-TN) calling Drug Enforcement Administration roadblocks “the Strait of Hormuz for marijuana legislation.”
Rep. Lou Correa (D-CA) said psychedelic therapies can be a “magic cure” for mental health conditions, and Rep. Jack Bergman (R-MI) said providing access for military veterans and others is “the right thing for Congress to do.”
The Colombian House of Representatives First Committee approved a bill to legalize marijuana, with the sponsor saying it will “help homeless people, help farmers and indigenous and Afro-Colombian communities who have lived with this plant for many years.”
A Louisiana representative filed legislation to create a new Recreational Cannabis Policy Task Force to study marijuana legalization and issue a report with recommendations on issues like taxation, licensing, health, criminal justice and equity.
A new study found that Nevada is losing out on $80 million in annual marijuana tax revenue by imposing rules that have created strict barriers between the state’s cannabis and gaming industries.
A new study found that “medical cannabis may be a useful adjunct therapy for reducing opioid use, relieving chronic pain, and improving health-related quality of life.”
- “Although cannabis has historically been characterized as a potential ‘gateway drug,’ it may also serve as a harm-reduction tool for some patients seeking to reduce reliance on higher-risk opioid medications… The findings of this study add to the growing body of literature supporting the safety profile and potential therapeutic role of cannabis.”
National Cannabis Industry Association board member Jordan Isenstadt argues in a new Marijuana Moment op-ed that upcoming elections on the state and federal levels matter a lot more to the future of the sector than any piece of legislation filed in Congress.
- “The next phase of cannabis policy will not be decided by a single bill. It will be shaped by the political environment that determines whether any bill has a path.”
/ FEDERAL
The Drug Enforcement Administration is promoting a prohibitionist group’s anti-marijuana information as part of National Prevention Week.
The House bill to federally legalize marijuana got one new cosponsor for a total of 71.
The House bill to delay the federal recriminalization of hemp THC products got one new cosponsor for a total of 33.
The House bill to allow marijuana businesses to list on stock exchanges got one new cosponsor for a total of three.
/ STATES
Maryland Gov. Wes Moore (D) signed a bill giving the Alcohol, Tobacco, and Cannabis Commission new authority to crack down on unauthorized and unregulated kratom, tianeptine and phenibut products.
The chair of the North Carolina Health and Human Services Appropriations Committee said there’s a chance lawmakers could address marijuana and hemp issues this session.
Colorado regulators issued a health and safety advisory about marijuana products with yeast, mold and aspergillus above acceptable limits.
New York’s acting top marijuana regulator spoke about the growth of the state’s legal industry.
Maine regulators published an overview of cannabis-related legislation enacted this session.
The Fond du Lac Band in Minnesota opened the first cannabis consumption lounge in the state.
The New Jersey Cannabis Regulatory Commission will meet on Thursday.
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Marijuana Moment is tracking hundreds of cannabis, psychedelics and drug policy bills in state legislatures and Congress this year. Patreon supporters pledging at least $25/month get access to our interactive maps, charts and hearing calendar so they don’t miss any developments.
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/ INTERNATIONAL
Gunfire erupted in the Philippine Senate chamber as a senator sought to avoid arrest on an International Criminal Court warrant concerning his role in the nation’s bloody “war on drugs.”
/ SCIENCE & HEALTH
A study found that “adolescents perceived cannabis as less harmful than cigarettes, nicotine vapes, and alcohol” and that “as adolescents aged, they were less likely to perceive cannabis as harmful, unlike other substances.”
A study found that “despite remaining illegal at the federal level, a considerable number of US adults reported microdosing cannabis, psilocybin, LSD, and MDMA in their lifetime.”
/ ADVOCACY, OPINION & ANALYSIS
The Boston Globe editorial board said there should be more coordinated standardization of marijuana rules between states with legalization.
/ BUSINESS
Ascend Wellness Holdings, Inc. reported quarterly net revenue of $116.9 million and a net loss of $29.5 million.
iAnthus Capital Holdings, Inc. reported quarterly revenue of $33.5 million and a net loss of $14.3 million.
Charlotte’s Web Holdings, Inc. reported quarterly revenue of $13.3 million and a net loss of $11.5 million.
TerrAscend Corp. is facing unfair labor practice charges before the National Labor Relations Board.
Michigan retailers sold $258.6 million worth of legal marijuana products in April.
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