
The big news this week came out of Oklahoma, where voters decided to legalize medical marijuana. The framework for that law is fairly progressive, and we’re now looking at an impending special legislative session that will see lawmakers tighten the regulations on this new and looming market. The FDA for the first time approved a cannabis-derived drug, paving the way for a possible trend in the pharmaceutical industry merging into the cannabis space. Read on for all the headlines you need to know as we close out another week in the industry.
Federal: The U.S. health regulator approved GW Pharmaceuticals' epilepsy treatment on Monday, making it the first cannabis-based drug to win approval in the country and opening floodgates for more research into the medicinal properties of cannabis. - Reuters Read more
U.S. Sen. Chuck Schumer (D-N.Y.) filed a sweeping marijuana decriminalization bill June 27 that would leave regulation in the hands of states. The bill would also remove cannabis from the Controlled Substances Act. The bill would, however, maintain federal law enforcement's authority to prosecute interstate "drug trafficking." Read more
The Senate passed legislation on Thursday that would legalize hemp as an agricultural commodity. The bill, a key priority of Senate Majority Leader Mitch McConnell's (R-Ky.), was included in a mammoth farm bill that cleared the Senate 86-11. – The Hill Read more
Oklahoma: Deeply conservative Oklahoma became the 30th U.S. state to legalize medical marijuana after voters approved a ballot initiative by a 57-43 margin on June 26. The move signaled new inroads among Bible Belt constituencies, where, by and large, state policies have restricted medical cannabis use to hemp-derived CBD products only. Read more
Arizona: In a major legal setback to the state's medical-marijuana community, the Arizona Court of Appeals has ruled that cannabis extracts commonly sold in state dispensaries are illegal. The ruling affects what the court and Arizona law calls "hashish," or the resin extracted from marijuana. Medical marijuana consumers also know it as hash oil, shatter, wax, and other names. It's become one of the biggest sellers at the state's dispensaries, used to fill vape cartridges and create most cannabis-infused food and drinks. – Phoenix New Times Read more
We’re watching this case closely. Has the latest court ruling affected your business at all? Send your thoughts to digital editor Eric Sandy at [email protected].
Colorado: U.S. Rep. Jared Polis, for whom a prominent marijuana protection legislative amendment is named, has won the Democratic gubernatorial primary in Colorado. He will face State Treasurer Walker Stapleton, a Republican, in November’s general election. “President Donald Trump, marijuana and big money are expected to dominate November election,” as the Denver Post put it, teasing a volatile campaign trail between now and November. Read more
California: Ah, Permit Patty, we hardly knew ye. Almost as soon as Alison Ettel’s colleagues in the Bay Area cannabis industry recognized her as “#PermitPatty,” they began purging her products from their shelves. Several Bay Area marijuana dispensaries said they will no longer carry TreatWell Health products after Ettel, the company’s founder, was outed as the notorious white San Francisco woman caught on a viral video supposedly calling police on an 8-year-old African American girl for selling water without a permit. – San Francisco Chronicle Read more
Maine: Maine lawmakers this week wrapped up their efforts to rewrite the state’s marijuana laws for adult-use recreational sales and for medical use. The legislative outline of Maine’s adult-use cannabis market was finalized last month when lawmakers overturned a gubernatorial veto and paved the way for adult-use sales in 2019. And late Tuesday night, lawmakers adopted a sweeping medical cannabis reform bill that now sits on Gov. Paul LePage’s desk for review. – Portland Press Herald Read more
Canada: Aurora Cannabis Inc. announced that it has agreed to a new $200 million debt facility, with a potential upsize to $250 million, with the Bank of Montreal. Read more
One of the largest cannabis facilities in Canada has officially opened its doors; CannTrust is located near Fenwick in the Niagara region. The company held its grand opening for its completion of one of two phases on Tuesday. The 450,000 sq. ft. hydroponic facility works in a “perpetual harvest” system. CannTrust officials say it is an innovative and one-of-a-kind way to produce marijuana. – CityNews Toronto Read more
Top photo courtesy of Adobe Stock