DOJ investigating cannabis companies over COVID loans (Newsletter: April 15, 2024)

Biden & Harris talk marijuana; SAFER Banking negotiations; NH legalization; NE hemp tax; FL cannabis campaign funding; VT safe drug consumption site

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Before you dig into today’s cannabis news, I wanted you to know you can keep this resource free and published daily by subscribing to Marijuana Moment on Patreon. We’re a small independent publication diving deep into the cannabis world and rely on readers like you to keep going. Join us at https://www.patreon.com/marijuanamoment / TOP THINGS TO KNOW The Justice Department is investigating marijuana-related businesses that allegedly received COVID relief loans in violation of federal rules, with third-party actors leveraging a whistleblower policy that allows them to take a portion of settlement money for successful cases. President Joe Biden, Vice President Kamala Harris and top Justice Department officials all separately touted the administration’s marijuana pardons to commemorate Second Chance Month on Friday. Senate Majority Leader Chuck Schumer (D-NY) and leaders of the House Financial Services Committee are in talks about merging marijuana banking legislation with a proposal to regulate stablecoins. New Hampshire Gov. Chris Sununu’s (R) office says a marijuana legalization bill approved by the House of Representatives “doesn’t get us there” to earn his support, but he wants to work with senators to make changes and “see if we can get it done.” The Nebraska legislature approved an amendment to reduce a proposed 100 percent tax rate on consumable hemp and CBD products down to 25 percent. New Florida Division of Elections campaign finance reports show how much various cannabis companies have contributed to the campaign to pass a marijuana legalization initiative on the state’s November ballot. The Michigan Cannabis Regulatory Agency reported that retailers sold $288.8 million worth of legal marijuana products in March—a new monthly record. The Vermont Senate Health and Welfare Committee is considering an amendment to a House-passed bill to legalize and fund safe consumption sites for illegal drugs that would scale the pilot program back to just a single facility. A Kansas legislature conference committee on agriculture issues heard a presentation from law enforcement representatives who want to subject farmers who grow hemp with too much THC to criminal penalties and prison sentences. / FEDERAL Sen. Cory Booker (D-IL) tweeted, “Our cannabis policy has lagged behind science and the states for too long, I am proud to move forward on introducing this bill to create just and modern cannabis policy.” Rep. Lou Correa (D-CA) criticized federal officials for seizing marijuana products from state-licensed businesses. Rep. Troy Carter (D-LA) tweeted, “I hosted my 3rd annual #CrawfishAndCannabis Reform event to discuss the urgent need for cannabis reform in the U.S. and equity in the industry. I also honored @RepBarbaraLee and @repblumenauer for their leadership in this space.  It was an important conversation with great food!” / STATES New York Gov. Katy Hochul (D) touted the fact that regulators have now issued more than 400 recreational marijuana business licenses. North Carolina lawmakers discussed the prospects for legalizing marijuana. Illinois lawmakers are pushing for a ban on intoxicating hemp products. The Arkansas Supreme Court ruled in favor of a medical cannabis company in a licensing dispute. Delaware’s top marijuana regulator spoke about steps toward launching the recreational market. Minnesota regulators are concerned that launch of legal recreational marijuana sales could be delayed if cultivation doesn’t begin soon. Connecticut regulators are advising medical cannabis patients to stock up on marijuana ahead of an expected surge in sales for 4/20. Missouri regulators will begin accepting applications for a second round of marijuana microbusiness licenses on Monday. Michigan regulators published a report on disciplinary actions against marijuana businesses. The Kansas Department of Transportation sent a warning about marijuana-impaired driving ahead of 4/20. The Colorado Retail Marijuana Public Health Advisory Committee will meet on Monday. — Marijuana Moment is tracking more than 1,400 cannabis, psychedelics and drug policy bills in state legislatures and Congress this year. Patreon supporters pledging at least $25/month get access to our interactive maps, charts and hearing calendar so they don’t miss any developments. Learn more about our marijuana bill tracker and become a supporter on Patreon to get access. —

/ LOCAL The Dover, Delaware City Council’s Legislative, Finance and Administrative Committee held a hearing on proposals to restrict marijuana businesses. The Denver, Colorado Natural Medicine Work Group  will meet on April 25. / INTERNATIONAL Moroccan officials unveiled a new logo for legal cannabis products. / SCIENCE & HEALTH A study found that “cannabis use [is] associated with lower mortality among hospitalized Covid-19 patients.” A case study discusses a woman who “developed Long-COVID symptoms after contracting COVID-19 and her experience managing her symptoms and using psychedelics as a treatment.” / ADVOCACY, OPINION & ANALYSIS The Star Tribune editorial board is calling on Minnesota lawmakers to continue making improvements to the state’s marijuana laws. / BUSINESS Vangst acquired CannabizTemp. Numinus Wellness Inc. reported quarterly revenue of C$5 million. European police made arrests in the JuicyFields marijuana investments fraud case. High Tide Inc.’s chief financial officer is transitioning out of the role. / CULTURE Family Feud featured a question about what to do if your kids find your marijuana stash.

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