Bowser aims to strip $6.5M from D.C. cannabis social equity fund
Mayor Muriel Bowser’s proposed budget for fiscal year 2025 would strip millions of medical cannabis programs funds for social equity entrepreneurs. Bowser’s April proposal strips half a billion in cuts throughout the city’s budget in an attempt to recover a $700 million budget shortfall this year. Cuts included reductions in emergency rental assistance and child care programs, but she also proposed stripping the Alcohol Beverage and Cannabis Administration’s Medical Cannabis Social Equity Fund. Read More
- Four new shops were placarded making a total of 42 pending shops and twelve total licensed.
- Hemp shops are speaking out about D.C.’s laws that require them to get medical cannabis licenses to sell hemp.
Virginia emergency room visits by youth down after thc law
In Virginia, ER visits by young people due to cannabis use were rising. However, a new law requiring clear labeling and limiting THC content in cannabis products led to a significant decrease (21.5%) in such visits after just 6 months.
- Amherst County smoke shop raided by police allegedly sold marijuana and THC products, including gummies that looked like candy.
- Raids on Southwest Virginia cannabis stores last fall may have uncovered money laundering, with large cash flow and seized luxury cars raising suspicion.
East Coast Round Up
Massechusets cannabis social equity entrepreneurs are now stuck with high debt and few ways out of a cannabis industry they thought could break generational struggles.
A Massachusetts cannabis company is suing Vicente Sederberg law firm who specializes in cannabis law, claiming a poorly written contract cost them millions.
New York City shutdown 75 unlicensed cannabis shops in a week-long crackdown.
Around the country
Michigan cannabis sales volume increased in April but revenue dipped due to lower average prices per ounce.
Minnesota cleared nearly 58,000 minor cannabis convictions from residents’ records ahead of schedule.
Ohio’s legislature approved cannabis rules, allowing sales to potentially start next month in medical dispensaries.
Native American-owned cannabis businesses are flourishing across the US, up 25% since 2023, as tribes seek economic growth and self-governance.
California seized nearly 36,600 pounds of illegal cannabis and destroyed over 62,000 plants in a crackdown on unlicensed operations.
Culture & More
Cannabis growers are using AI machine learning with sensors and cameras to improve growing conditions, detect threats and reduce labor costs.
From the Swamp
President Joe Biden announced his support of the Department of Justice’s move to reclassify cannabis. Critics say that rescheduling cannabis instead of descheduling the plant is not enough. Cannabis will join the ranks of ketamine and Tylenol with codeine as a schedule III drug. It will continue to be a controlled substance treated like a prescription drug and regulated by the Food and Drug Administration (FDA). Read More
The House banking bill added another Republican co-sponsor for an overall total of 118.
Shrooms
The Maryland Governor signed a bill into law that will establish a psychedelic taskforce.
