SCHUMER OR LATER
Chuck Schumer says he’s filing the Cannabis Administration and Opportunity Act ‘soon’
In a meeting with several cannabis advocacy groups, Senate Majority Leader Chuck Schumer said he’ll introduce the much anticipated Cannabis Administration and Opportunity Act (CAOA) “soon,” reports Marijuana Moment. He also said committee hearings are likely to follow.
Schumer tweeted about the Zoom meeting on Friday, saying it was an “exciting meeting on social equity in federal marijuana reform,” and tagged several groups, such as Drug Policy Alliance (DPA), Cannabis Regulators of Color Coalition (CRCC), Immigrant Defense Project, Women Grow, VOCAL-NY and Rochester NORML.
Last year, Schumer said he aims to prevent the “big boys” from consolidating the industry, and to support smaller operators and equity licensees. “We’re working to end the prohibition & ensure equity for communities impacted by the War on Drugs—esp. communities of color,” he tweeted.
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LEGALIZATION > DE-LEGALIZATION
Southern California assemblyman introduces de-legalization bill
Republican Assemblyman Thurston “Smitty” Smith is so tired of unregulated cannabis grows in his district, he’s introduced a bill that would make growing more than six plants a felony again, reports Forbes.
According to a statement, Smith blamed a lack of enforcement and said that illicit cultivators are “operating with impunity, knowing that the law allows them to grow with barely a hindrance. For far too long, Sacramento has been soft on crime, and the illicit market has exploded with massive unlicensed grows popping up all around the state.”
The takeaway
The bill is doomed to fail, but it’s yet another expression of discontent about how adult-use legalization has played out in California, particularly when it comes to unregulated growers. Critics of cracking down on those cultivators say lower taxes and more retail are better solutions.
IN TIME FOR THE BIG GAME
NFL funds $1 million in cannabis research
Researchers from the University of California San Diego and the University of Regina in Canada were awarded $1 million from the NFL to examine the potential of cannabinoids in pain management and neuroprotection from concussions, reports ESPN.
NFL players aren’t permitted to use cannabis, but:
- The league no longer immediately suspends players if drug tests show cannabis in their system
- The threshold triggering a positive test was increased
- But repeated positive tests can still bring on consequences
Dr. Allen Sills, NFL chief medical officer, said the league wants to see thorough research before approving cannabis for therapeutic use by players. “Anytime we want to introduce a new therapy, we have to understand how that decision might impact their well-being and their performance. We know there’s been a lot of interest in this area, but we did not feel like there was a lot of great solid research on the benefits of marijuana, CBD and treating acute and chronic pain.”
NETFLIX AND…
Chill Brands delays ambitious US retail plans, shares plummet
After international CBD retailer Chill Brands reported its interim results last week, its share price tanked by approximately 30%, reports BusinessCann.
Notably, the company’s previously announced plans to distribute its CBD tobacco substitute products in 88,000 stores in the US have been delayed, but not abandoned, due to supply chain challenges.
More highlights
- Revenues grew 230%, from £54,554 to £1.07 million year-over-year
- Operating losses grew 150% from £983,464 to almost £2.5 million during the period
- A new strategy will focus on online sales on its chill.com site
The takeaway
“So long as the internet is up and postal services are running, Chill.com will be online and selling regardless of external factors affecting the retail market.”
