Marijuana Moment: Lawmakers want cannabis tax guidance from IRS (Newsletter: May 29, 2026)

[Tokeativity]

Poll: Marijuana consumers back Trump actions on issue; VA legalization push in budget; ATF cannabis gun reform op-ed; Study: Marijuana & exercise

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/ TOP THINGS TO KNOW

A group of congressional lawmakers sent a letter urging the Treasury Department and Internal Revenue Service to issue “swift and clear” tax guidance for the marijuana industry now that rescheduling is underway.

The latest Marijuana Moment/NuggMD quarterly tracking poll shows that cannabis consumers’ support for the Trump administration’s actions on the issue has surged since partial rescheduling was enacted—with nearly three out of four now having a favorable view.

Top Virginia lawmakers are discussing the possibility of including provisions to legalize recreational marijuana sales in budget legislation that is due by July 1 after Gov. Abigail Spanberger (D) vetoed standalone bills to enact the reform—but the governor called the idea “unbelievable.”

A new study found that “participants who used cannabis were more likely to engage in light and moderate activity, while vigorous activity remained less common, suggesting differences based on activity intensity.”

• “These findings support the idea that cannabis may influence the subjective experience of exercise, such as enjoyment or discomfort, rather than directly enhancing physical performance.”

Dan Russell and Will Hall of Jones Walker LLP argue in a new Marijuana Moment op-ed that proposed changes to a Bureau of Alcohol, Tobacco, Firearms and Explosives gun purchase form represent “a formal, federal acknowledgment that medical marijuana is no longer in the same legal category it once occupied.”

• “None of this immediately resolves the central absurdity of the current moment. However, we are, finally, on the path to reinstating the Second Amendment rights for medical marijuana patients.”

The Missouri Division of Cannabis Regulation is preparing to hold a final lottery for marijuana microbusiness licenses after instituting new rules targeting “predatory” ownership and application practices that proliferated in prior rounds.

/ FEDERAL

Sen. Jeff Merkley (D-OR) said he will continue to “work with both Republicans and Democrats to advance common-sense cannabis reforms.”

Rep. Dan Crenshaw (R-TX) tweeted that psychedelic therapies “save veteran lives,” saying the Department of Veterans Affairs’s newly announced MDMA study is “huge news and the first milestone crossed after President Trump’s announcement last month that he’s accelerating psychedelic therapies for veterans with PTSD.”

/ STATES

Minnesota Gov. Tim Walz (D) signed a bill revising various cannabis rules and requiring regulators to issue recommendations on launching a psilocybin therapy program.

Nebraska Democratic attorney general candidate Jocelyn Brasher criticized the incumbent attorney general from filing a lawsuit seeking to block federal marijuana rescheduling.

A New York senator and assemblymember discussed the benefits of their legislation to legalize medical use of psilocybin in an advocacy group’s press release.

A Texas Supreme Court order allowing regulators to restrict hemp-derived delta-8 THC products took effect.

The Massachusetts Cannabis Control Commission held its first meeting with new members.

The Nevada Cannabis Compliance Board is transitioning to a bimonthly meeting schedule beginning in July.

California regulators  sent updates about various cannabis issues.

/ LOCAL

A San Antonio, Texas firefighter claims he was wrongfully terminated over medical cannabis use.

/ INTERNATIONAL

The French Senate passed legislation containing provisions to increase penalties for use of cannabis and other drugs.

/ SCIENCE & HEALTH

A study found that “sublingually administered CBD demonstrated a favorable safety profile and showed promise in reducing pain-related symptoms associated with exercise-induced muscle injury.”

A study found that “ceremonial use of ayahuasca within neoshamanic traditions can have positive effects on suicidality.”

/ ADVOCACY, OPINION & ANALYSIS

The United Food and Commercial Workers International Union is supporting a letter from Democratic members of Congress calling on President Donald Trump to free federal marijuana prisoners.

/ BUSINESS

A Vireo Growth Inc. subsidiary exercised an option to purchase a New York property from a subsidiary of Innovative Industrial Properties, Inc.

SNDL Inc. said its acquisition of remaining 1CM Inc. retail locations in Ontario, Canada is not expected to proceed following a prolonged regulatory review process.

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