Marijuana Moment: Fed cannabis prosecutions decline legalization era (Newsletter: March 25, 2020)

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Small Biz Admin: No COVID aid for marijuana firms; Denver psilocybin panel sets decrim enforcement tracking; SD legalization campaign alters plan

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/ TOP THINGS TO KNOW

New data from the U.S. Sentencing Commission shows that federal prosecutions for marijuana trafficking continue to decline year over year as more states legalize, indicating that the illegal market shrinks when consumers have a legal place to buy cannabis.

In a series of new tweets, the federal Small Business Administration confirmed that marijuana companies are not eligible for coronavirus-related disaster relief funds.

The U.S.’s first government psychedelics body approved criteria to track the impact of Denver, Colorado’s psilocybin decriminalization law. Members also discussed the need to train first responders to use harm reduction principles to deal with people under the influence of psychedelics.

A South Dakota campaign working to pass separate ballot measures to legalize marijuana and allow medical cannabis is urging voters to consider absentee registration in case coronavirus concerns prevent people from going to polling places come Election Day.

/ FEDERAL

National Institute on Drug Abuse Director Nora Volkow published a blog post explaining her agency’s request for input on formulating a standard dose of THC for marijuana products.

Ohio Democratic congressional candidate Mike Hood tweeted, “I am proposing legislation restricting taxation of cannabis to funding a Federal Arts Project in the spirit of the 1935 program; which also creates a new funding stream for art/music teachers.”

/ STATES

Hawaii Gov. David Ige’s (D) coronavirus stay-at-home order exempts medical cannabis businesses as essential.

Oregon marijuana businesses are allowed to stay open under Gov. Kate Brown’s (D) coronavirus stay-at-home order. Meanwhile, regulators published a FAQ on coronavirus-related issues for cannabis businesses.

Oklahoma regulators said that medical cannabis businesses are essential and exempt from Gov. Kevin Stitt’s (R) stay-at-home order issued amid the coronavirus outbreak.

Pennsylvania’s lieutenant governor did a radio interview about coronavirus-related regulatory changes for medical cannabis businesses.

Maine regulators said that medical cannabis operations are essential and exempt from guidance urging many businesses to temporarily close during the coronavirus outbreak, but they said that the pandemic could delay the launch of the state’s recreational marijuana market.

Colorado regulators said that recreational marijuana businesses may only do curbside sales, while medical cannabis businesses can do in-store transactions amid the coronavirus pandemic.

Washington State regulators are allowing curbside sales of recreational marijuana in addition to an earlier move covering only medical cannabis amid the coronavirus outbreak. They are also pursuing deferment and waiver of penalties for late payment of taxes, subject to a possible proclamation from Gov. Jay Inslee (D).

Florida law considers medical cannabis businesses to be essential and exempt from any coronavirus-related local shutdown orders.

Michigan regulators sent a bulletin addressing building delays that marijuana business license applicants may experience due to coronavirus.

Arkansas regulators say a growing number of medical cannabis businesses are expressing interest in adding delivery services amid the coronavirus outbreak.

New Mexico’s medical cannabis program now has a higher patient count than Colorado’s, for the first time ever.

Rhode Island regulators denied a business expense tax deduction for a medical cannabis cultivation license.

—
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—
/ INTERNATIONAL

Canadian regulators said they will continue some marijuana licensing activity, carry out inspections at a modified pace and extend a reporting deadline amid the coronavirus outbreak.

/ SCIENCE & HEALTH

A review concluded that “CBD has the promising potential as a therapeutic agent and might be effective in alleviating the symptoms of insulin resistance, type 2 diabetes and metabolic syndrome.”

A study found that pressurized hot water extraction “can be seen as an alternative to the classic extraction approach as the efficiency is higher and it is environmentally friendly.”

/ ADVOCACY, OPINION & ANALYSIS

Drug Policy Alliance, Harm Reduction Coalition, Marijuana Policy Project, AIDS United and other organizations sent a letter urging governors to maintain legal access to medical cannabis during the coronavirus pandemic.

Vicente Sederberg LLP, Agricultural Hemp Solutions, American Herbal Products Association, U.S. Hemp Roundtable and Vote Hemp released additional recommendations for state hemp programs.

The New York State Catholic Conference is urging lawmakers not to legalize marijuana during the coronavirus outbreak.

The Brookings Institution published a paper calling for an equity-focused “Cannabis Opportunity Agenda” in the legal industry.

Conservative commentator Ann Coulter tweeted, “Every death is a tragedy, but how many of the precious few ‘under 30’ coronavirus deaths are cannabis vapers?”

/ BUSINESS

J.P Morgan offered a $10 million line of credit and banking services including merchant processing to Charlotte’s Web Holdings, Inc.

Charlotte’s Web Holdings, Inc. reported $22.8 million in quarterly revenue and an adjusted EBITDA loss of $10.2 million.

Curaleaf Holdings, Inc. reported quarterly revenue of $75.5 million and a net loss of $27.2 million.

Acreage Holdings, Inc. announced the resignation of one of its board members.

CannaCraft converted a portion of its manufacturing space and production capacity to formulating and packaging hand sanitizer.

Massachusetts marijuana dispensaries are teaming up to produce hand sanitizer that will be donated to local hospitals.

/ CULTURE

Former boxer Mike Tyson reacted to The Simpsons making fun of his involvement in the marijuana industry.

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