Ahead of 4/20, Business and Politicians Take Stock of Cannabis Industry Impact: Week in Review
Dispensaries are putting the finishing touches on 4/20 displays and events (whether in-person or online) as the cannabis holiday comes around the corner. It’s been another busy week in the industry, with both good news and sad news—and with a sense of political momentum that might bring more opportunities this summer.
As Marijuana Moment reports, U.S. Sen. Chuck Schumer is promising a comprehensive cannabis reform bill in Congress “soon.” What does that mean? It’s hard to say, but earlier announcement from Schumer (and Sens. Cory Booker and Ron Wyden) have hinted at some sort of palatable, all-in bill that stands a chance of passing this legislative session. The distinction between “decriminalization” and “legalization” has been an apparently touchy point of debate, which may be one reason the bill’s status remains hazy.
That said, we’ve rounded up some of the key cannabis headlines from the week right here.
- The week started off with a nice formality, as New Mexico Gov. Michelle Lujan Grisham signed her state’s adult-use cannabis bill into law. Read more
- Two tragic deaths befell the cannabis space as the week went on, with the losses of pioneering advocate Steve Fox and entrepreneur Sara Batterby. Read more about Fox here, and read more about Batterby here
- In lighter news, Colorado is auctioning off 14 cannabis-themed license plates in a fundraiser for the Colorado Disability Funding Committee. Read more
- As the delivery of cannabis products begins to spark interest among states, Uber CEO Dara Khosrowshahi told CNBC on Monday that the company could start delivering cannabis products if federal regulation permits the company to do so. Read more
And elsewhere on the web, here are the stories we’ve been reading this week:
- Tahoe Daily News: City officials in South Lake Tahoe, Calif., take stock of the local cannabis industry. Read more
- Los Angeles Times: This week, the Times takes a look at how LA is influencing the broader cannabis industry, “from pot-infused pizza and the boom in minor cannabinoids to bettering your buzz through DNA analysis, [trends] that may have a hand in shaping what the future of weed looks like across the country and around the world.” Read more
- Albuquerque Journal: “Five medical cannabis producers wrote in a letter to [New Mexico] state officials this week about concerns that the recently approved legalization could lead to a supply shortage for medical marijuana patients starting this summer.” Read more
- Yahoo! Finance: NBA stars John Wall and Carmelo Anthony have invested several million dollars in Leune, a California cannabis company. Read more
- JD Supra: “Federal securities regulators recently obtained judgments in two enforcement actions brought in federal court in California and Illinois involving cannabis-related businesses raising capital.” Read more