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Schumer’s cannabis banking petition (Newsletter: March 25, 2024)

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Source: Marijuana Moment

German legalization; USDA OKs GMO hemp with no THC; IN & IL psychedelics; NE hemp 100% tax; Study: CBD for alcohol use disorder

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/ TOP THINGS TO KNOW

Germany’s legalization of marijuana will go into effect on April 1 as planned after the Bundesrat voted against referring the legislation to a mediation committee that would have delayed its enactment by six months.

Senate Majority Leader Chuck Schumer (D-NY) is circulating a petition in support of a marijuana banking bill, saying cannabis businesses are “forced to keep massive amounts of cash on hand—a danger for everyone involved.”

Senate Banking Committee Chairman Sherrod Brown (D-OH) said passing a marijuana banking bill this year is a “high priority,” adding that the majority leader “wants to do it” and that “plenty” of GOP lawmakers are on board as well.

The U.S. Department of Agriculture approved a genetically modified variety of hemp designed not to produce THC or CBD but have higher levels of the cannabinoid CBG, saying it “may be safely grown and bred in the United States.”

Indiana Gov. Eric Holcomb (R) signed a bill to fund clinical trials on using psilocybin to treat PTSD, anxiety, depression, chronic pain and other conditions—with a focus on military veterans and first responders.

The Nebraska legislature’s Revenue Committee approved a bill to tax hemp and CBD products at a 100 percent rate as part of a property tax relief effort.

The Illinois Senate Executive Committee held a hearing on a bill to legalize psilocybin and allow regulated access at service centers where adults could use the psychedelic in a supervised setting—with plans to expand the program to include mescaline, ibogaine and DMT.

A California senator’s newly amended bill would remove marijuana-related employment protections for people who work in law enforcement, coroners’ offices, animal control and other jobs.

A new scientific review suggests that “CBD may be used to manage [alcohol use disorder] symptomatology” since it “appears to modulate neurotransmitter systems and functional connections in brain regions implicated in AUD.”

Dentons lawyers Joanna Borman and Amy Rubenstein authored a Marijuana Moment op-ed laying out considerations they say cannabis businesses should keep in mind when they need to recall products.

A researcher whose study found that Colorado cannabis labels display “misinformation regarding inflated THC potency” said the problem could be “cultivators or dispensaries selecting the best flowers to test” or even “lab fraud” where operators “manipulate the testing process or doctor numbers.”

/ FEDERAL

Members of the House Homeland Security Committee received a briefing from federal agencies about Chinese-backed illegal marijuana operations in the U.S.

Rep. Steven Horsford (D-NV) and Sen. Laphonza Butler (D-CA) filed resolutions noting that “the war on drugs and discriminatory criminal justice policies in the United States have led to mass incarceration of Black people at rates significantly higher than White people, disrupting families, limiting employment opportunities, and imposing financial burdens that hinder wealth accumulation.”

Rep. Chuck Edwards (R-NC) tweeted a video of himself pressing Health and Human Services Secretary Xavier Becerra about marijuana.

The House bill to allow CBD as a dietary supplement got one new cosponsor for a total of 23.

/ STATES

Ohio Gov. Mike DeWine (R) is continuing to call on lawmakers to pass legislation allowing legal marijuana sales to begin.

New York Gov. Kathy Hochul (D) cheered a move by regulators to waive certain marijuana business licensing fees.

The Maryland Senate passed a bill to restrict local control over marijuana business locations.

The Rhode Island House Judiciary Committee held a hearing on a drug decriminalization bill.

Hawaii representatives discussed the prospects for passing marijuana legalization legislation.

A Pennsylvania representative sent a press release expressing concerns about marijuana legalization.

New Mexico regulators announced a recall of cannabis products that tested positive for a prohibited pesticide.

Missouri regulators extended the compliance date for new marijuana packaging and labeling rules.

The Oregon Liquor and Cannabis Commission has three new members.

The Prairie Island Indian Community, located within Minnesota, plans to open a marijuana dispensary this summer.

Washington State regulators will host rulemaking workshops on implementing a THC bill on Tuesday and Thursday.


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

Denver, Colorado officials appointed members to a psychedelics work group, and its first meeting is scheduled for Thursday.

/ INTERNATIONAL

The United Nations Commission on Narcotic Drugs adopted a resolution recognizing the importance of harm reduction approaches to drugs for the first time.

The Canadian government filed a final report on a legislative review of the country’s marijuana legalization law.

Indonesia’s Constitutional Court rejected a petition to legalize medical cannabis.

The New South Wales, Australia Legislative Council is conducting an inquiry on marijuana legalization.

An Irish lawmaker discussed her past use of cocaine and MDMA.

/ SCIENCE & HEALTH

A study on the effects of medical cannabis on quality of life found that “significant improvements were observed in physical and social functioning, emotional well-being, and energy levels within the first 30 days” and that “participants reported significant decreases in emotional limitations, fatigue, and pain levels.”

A study of CBD suggested “new potential immunomodulatory properties of this cannabinoid suggesting a possible therapeutic action in the treatment of multiple inflammatory skin diseases.”

/ ADVOCACY, OPINION & ANALYSIS

A poll of Maryland voters found that 31 percent say marijuana legalization has been a good thing for the state, 31 percent believe it has been a bad thing and 34 percent say it has been neither good nor bad.

The Pennsylvania Chiefs of Police Association’s director authored an op-ed expressing concerns about marijuana legalization.

/ BUSINESS

Organigram Holdings Inc. received a determination from Canadian officials that its lozenge products are to be classified as edible cannabis.

CBD Healthcare Company received NSF certification for its CBD massage and body oil.

Canadian retailers sold C$400.7 million worth of legal marijuana products in January.

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