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Majority of US voters support cannabis banking reform


Majority of US voters support cannabis banking reform

A new poll finds that the majority of American voters support allowing banks to work with state-legal cannabis businesses, per Marijuana Moment.

The details:

  • 65 percent of voters back banking reform in the SAFE act.
  • Across party lines the majority still support reform with 73 percent of Democrats, 55 percent of Republicans and 67 percent of independents in favour
  • 71% believed it would decrease robberies and violent crime in legal stores.
  • 55% thought reform would improve social equity 
  • 60% said that denying banking services to marijuana businesses poses a threat to public safety

“With a supermajority of U.S. voters voicing support for allowing cannabis-related businesses access to the banking system, the Senate should act now on bipartisan cannabis banking legislation that the House has passed seven times,” said ICBA President Rebeca Romero Rainey.

Enjoy Cannabis Daily each morning at 7 a.m.


Cannabis companies lay off staff amid post pandemic right-sizing

Cannabis companies across the US are beginning to lay off staff and in places close altogether after the pandemic boom that labelled them ‘essential’, per MJ Biz Daily.

  • Canopy Growth cut about 8% of its workforce, expecting the cuts and adjustments to generate up to CA$150 million in savings in 12-18 months.
  • Canopy also closed its cultivation facilities on 23 acres in Niagara-on-the-Lake, Ontario, last year.
  • Weedmaps cut 10% of its workforce
  • Nature AZ medicine layed off 100 employees
  • Lume Cannabis closed around 30 stores in Michigan.

Whilst cuts are happening, Karson Humiston, founder and CEO of Denver-based Vangst, says the majority of job cuts are at the senior level. “People are still purchasing and consuming cannabis, so these hourly workers are essential,” she said.


Concerns over bias in the largest independent UK cannabis study

The largest independent cannabis study of its kind is setting out to fill the government’s ‘lack of significant research’ but there are questions on its impartiality, reports BusinessCann.

Lead researcher Dr Marta Di Forti’s previous research has largely focused on links between cannabis and psychosis which has caused concern of bias in the cannabis community. Di Forti says that the study aims to expand the understanding of cannabis users outside this ‘narrow minority’, and understand those who experience only positive effects.  The study was granted £2.5m in 202 and started in full last week.

“We wish to reach out to those out there using cannabis, in particular those benefiting from it. Without their help we will continue to have a polarised debate on cannabis, with us thinking it is all bad and should be banned, and others believing that because it is a plant it cannot have adverse effects.” said Dr Di Forti. 

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