WHAT EXIT?
New Jersey adult-use cannabis sales could start within a month
After some delay, New Jersey has approved seven medical cannabis companies to start selling to all adults, reports the New York Times. Adult-use sales could begin within the next four weeks.
The details
- Each company paid “upwards of $1 million” in licensing and regulatory fees
- 13 dispensaries, including a few within a short drive from NYC, have been licensed
- Each had to show they had enough inventory to serve both medical and adult-use consumers and they would prioritize medical consumers
“We will have adequate supply,” said Dina Rollman, head of government affairs at Green Thumb Industries. (Note: See Rollman’s BofC Live conversation from last year.)
Enjoy Cannabis Daily each morning at 7 a.m.
SAUSAGE BEING MADE
Schumer et al. face uphill battle for federal legalization
Brace yourself for ongoing resistance to cannabis legalization this year, even as Senators Booker, Warner and Majority Leader Chuck Schumer ready their Cannabis Administration and Opportunity (CAO) Act to bring forward this month and the MORE Act passed in the House last week, reports The Hill.
In either case, Democrats will need the support of all of its members and at least 10 Republicans. So far:
- GOP Senators. Roy Blunt (MO) and Steve Daines (MT) said it will be tough to pass
- Democrats Senators Joe Manchin (WV) and Jeanne Shaheen (NH) have both expressed support for medical but not adult-use cannabis legalization (so much for ‘live free or die’ Senator Shaheen…)
The takeaway
There is some progress to mark here: The CAOA is headed to the Senate’s Finance Committee—a big step, said Morgan Fox, policy director at the National Organization for the Reform of Marijuana Laws. “The issue has been talked about quite a bit more in the House than it has in the Senate, which so far has not really had a substantive hearing on cannabis policy generally.”
MUST READ
Highlights from Prohibition Partners’ 7th European Cannabis Report
Prohibition Partners just released the seventh edition of its European Cannabis Report, reports BusinessCann, which pulls all of the latest data and trends from the European market.
Here are the highlights:
- Access for medical cannabis consumers is growing
- Supply chains are evolving, with cultivation shifting from Canada to domestic
- PIlots are ongoing in France, Denmark
- European cannabis is drawing investment from North America
- CBD has gained legitimacy
- Germany could influence the rest of Europe to legalize adult-use
