The medical cannabis dispensary applying for a license in D.C. within 300 ft of BASIS Charter School stated its case to the Alcohol Beverage and Cannabis Administration Board on Wednesday. It was the first protest hearing for a medical cannabis business in D.C.’s history. All of the half dozen established medical dispensaries and current transitioning unlicensed dispensaries have been able to reach settlement agreements even if neighborhood associations first protested them. Another transitioned dispensary in the Palisades has sparked controversy due to its proximity to a daycare and two other schools, but the ANC settled with the business earlier this year. 12 settlement agreements have been reached in the past few months between ANC’s and other unlicensed dispensaries that applied to transition into the legal market.
Time has run out for I-71 gift shops that use a liberally interpreted amendment in the District’s constitution to gift weed to adults over 21 without medical cannabis cards. As of last Friday The Alcohol Beverage and Cannabis Administration (ABCA) delivered a total of 13 warnings to unlicensed cannabis businesses in the city, according to a spokesperson. Some gifting shops have closed voluntarily, however, hundreds of shops remain open in the city.
MD revenue soars after adult-use sales begin
Maryland’s cannabis tax revenue is booming after adult-use legalization. Comptroller Brooke E. Lierman announced a significant increase, collecting over $14.5 million in taxes between October and December 2023. This is a jump of $2.5 million compared to the first quarter of adult-use sales.
VA State Police said they seized over $500k in weed
Virginia State Police seized over 123 pounds of marijuana during a traffic stop, arresting the driver and charging him with intent to distribute and transport a large quantity of marijuana.
East Coast Round Up
Cannabis advocates in New Jersey are pushing for $3 million in social equity tax revenue to fund business programs, community reinvestment, and legal aid for entrepreneurs and formerly incarcerated people.
New York’s cannabis market took another hit as a judge ruled that much of the regulations were “unconstitutionally vague.” He clarified his ruling after outrage a day later, saying that the ban on third party advertisers like Leafly was “null and void.”
Around the country
A recent Florida cannabis legalization initiative means that Donald Trump will actually be able to vote on whether he supports the legalization of cannabis or not.
The 2018 Farm Bill unintentionally legalized a massive market for psychoactive hemp products like delta-8 and delta-9 THC. This market is estimated at $28.4 billion and rivals the legal marijuana industry. But as the Farm bill works its way through Congress this year, the industry faces uncertainty.
Culture & More
The U.S. cannabis industry is facing a major cash flow crisis due to a massive amount of unpaid bills – a whopping $3.8 billion, according to a new report. This is causing a domino effect, especially hurting small businesses and minorities in the industry. Cultivators, who supply the cannabis, are the hardest hit by these late payments from larger corporations and retailers.
From the Swamp
The House cannabis banking act added another Democrat to its sponsor list for 112 co-sponsors total.
Shrooms
A Maryland bill to set up a task force to study the use of psychedelics is just steps away from being signed by the governor.
The DEA is holding a hearing to gather expert opinions on banning two psychedelics (DOI & DOC) after facing pushback from researchers and companies like Panacea Plant Sciences, which is prepared to contest the ban.