CCMA Greenbrief June 15: Feds Introduce Cannabis Equity Bill…Legal Cannabis Industry Expected To Reach $75M By 2030…Congressman Lieu Celebrates Venice MedMen Opening…

CCMA Political greenBrief

Friday, June 15, 2018

“The communities that have been most harmed by cannabis prohibition are benefiting the least from the legal marijuana marketplace. The House of Representatives encourages States and localities to adopt best practices and take bold steps…to address disparities in the cannabis marketplace participation and to address, reverse, and repair the most egregious effects of the war on drugs on communities of color, in particular to those who now hold criminal records for a substance that is now legal and regulated.”
Congresswoman Barbara Lee On Her Introduction To The RESPECT Resolution
“It’s a highly regulated industry, just like pharma, just like alcohol, just like medical supplies or healthcare, now add cannabis to that. Because it’s heavily regulated there are a million ways to screw up, or for regulators to see it that way.”
Steve Meister, Operator Of Meister Law Offices Who Have Many Cannabis Clients, On Keeping Cannabis Business Owners Out Of Jail
California Congresswoman Introduces Bill To Bring Equality To Marijuana Industry (CA – Cannabusiness)
SF Gate (June 14, 2018) Congresswoman Barbara Lee hopes to bring more minorities into the legal cannabis industry. The California Democrat introduced a resolution on Thursday to deal with the racial disparity throughout U.S. legal marijuana businesses. Lee’s RESPECT resolution — short for Realizing Equitable & Sustainable Participation in Emerging Cannabis Trades — is the first to be introduced in Congress that deals with racial inequality inherent in legal pot workplaces.
Congressman Ted Lieu Celebrates California Cannabis Legalization With MedMen (CA – Cannabis Industry)
Civilized (June 14, 2018) Congressman Ted Lieu represents California’s 33rd Congressional District in the United States House of Representatives since he was elected in 2014. Lieu has established himself as a leader on the environment, cybersecurity, civil liberties, veterans, and now cannabis. On Saturday, June 9th, Lieu celebrated cannabis legalization with the opening of the new MedMen dispensary on Abbot Kinney in Venice, California.
Attorneys, Consultants Navigate ‘Wild West’ Of Marijuana Regulation Compliance (CA – State Regulations) (June 13, 2018) It’s not hard to picture Steve Meister walking into a meeting and giving advice like an Old West quick-draw artist shooting from the hip. He talks about laws and the regulatory environment in which California cannabis businesses are operating at a rapid pace, throwing in a few warnings and metaphors along with his advice: Things are changing fast in the cannabis industry, particularly in California, where Meister owns and operates Meister Law Offices, a criminal defense legal firm whose clients include cannabis businesses.
Lessons Learned From Legal Pot (USA – Legalization)
U.S. News (June 15, 2018) Like hustlers selling knock-off Coach handbags and fake Rolex watches from the trunk of a car, unscrupulous actors in the sanctioned-weed space are selling fake goods to make a quick buck, says Christopher Beals, president and general counsel of Weedmaps, an online forum and information clearinghouse for marijuana users that’s been called the “Craigslist of cannabis.”
Medical And Recreational Cannabis Companies With Near Term Catalyst News (USA – Cannabis Market)
PR Newswire (June 15, 2018) According to a report published by research firm Cowen & Co., the U.S. legal cannabis industry is expected to reach USD 75 Billion in sales by 2030. The research clarifies that the increasing consumer backing of legal cannabis, and its wider access, is driving meaningful change at the state level. Moreover, Cowen expects to see ballot initiatives to legalize cannabis for adult-use in both Michigan and Illinois in the upcoming midterm elections.
New Medical Applications Are Expected To Boost Cannabis Value (USA – Cannabis Market)
PR Newswire (June 15, 2018) According to the data provided by Energias Market Research, the global medical cannabis market is anticipated to increase in value from USD 8.28 Billion in 2017 to USD 28.07 Billion in 2024, and at a CAGR of 19.1% from 2018 to 2024. There are several vital factors that boost the growth of the market, like growing recognition of medicinal benefits, increasing demand for cannabis in the treatment of various diseases, as well as growing research and development investments.
Medical Marijuana, Inc. Applauds DEA’s Recent Clarification on CBD; Company’s Products Federally Legal (USA – Cannabusiness)
PR Newswire (June 14, 2018)  Medical Marijuana, Inc.  the first publicly traded cannabis company in the United States, announced today that the company applauds the Drug Enforcement Administration (DEA) for its recent statement on the legality of cannabidiol (CBD) — which further clarifies that some CBD products, such as hemp-derived CBD products sold by Medical Marijuana, Inc., are legal to distribute freely throughout the United States and do not fall under the regulations of the Controlled Substances Act (CSA).
6 Lessons From Cannabis CEOs Who Raised More Than $50 Million (USA – Cannabusiness)
Entrepreneur (June 14, 2018) As if starting a legal marijuana business isn’t hard enough, scoring investment capital can seem almost impossible. Yet some entrepreneurs have managed to do both—to the tune of over $50 million. What’s their secret? We talked to a few to find out the best ways to approach investors.
What Is Cannabis and What Is A Cannabis Strain? (USA – Cannabis Facts)
Leafly (June 14, 2018) Cannabis is a fascinating plant genus best known for its mind-altering and medicinal properties. Its use and cultivation date back as far as written language itself, and its therapeutic and spiritual utility spans many cultures around the world throughout history.
DEA Chief Tries To Convince Oklahoma To Vote ‘No’ On Medical Marijuana This Month (OK – State Legalization)
Herb (June 13, 2018) As Oklahoma voters head to the polls this month to decide whether to legalize medical cannabis, the head of the state’s DEA office, Richard Slater, is actively campaigning against the ballot question, according to one report from a local news agency. Slater, who argues that people should not be able to decide what is and is not medicine by a vote, has been taking his 45-minute presentation on the dangers of legalization across the state to warn that the ballot measure, disguised as a medical program, is really a gateway to recreational use.
New Study Finds Cannabis Is Not Significantly Linked To Suicide (Canada – Mental Health)
High Times (June 14, 2018) A new study in Canada has found that cannabis is not significantly linked to suicide in psychiatric patients. Researchers from McMaster University released the results of their study earlier this week in the journal Biology of Sex Differences. The researchers’ conclusions note that previous data has suggested a link between cannabis use and suicide in the general population.