CCMA Political greenBrief
Monday, October 1, 2018
“Well, the marijuana initiatives have received bipartisan support on the floor of the House. I don’t know where the president is on any of this. So any decision about how we go forward would have to reflect where we can get the result. Again, you’ve heard me say it, over and over: Public sentiment is everything.”Rep. Nancy Pelosi (D-CA) On How President Trump Is The Ultimate Factor In Cannabis Reform In The U.S.
“The rescheduling move does open the door for additional high-CBD medicines to enter the US market, however, and it will likely attract other CBD drugmakers to jump in. But many popular products in existing medical cannabis markets, such as Canada or certain US states, will be ineligible due to the amount of THC they contain.”Ben Adlin, Editor For Leafly, On The Reclassification Of CBD Products
California Governor Jerry Brown Signs Three New Progressive Cannabis Bills (CA – Cannabis Legislation
Merry Jane (September 28, 2018) This week, California Gov. Jerry Brown signed three new cannabis bills into law, further cementing the state’s reputation as a leader of marijuana reform. One of the new bills will establish a program to help minorities who’ve disproportionately suffered under marijuana prohibition to attain opportunities in the legal weed industry. The second bill grants California cities the ability to approve temporary cannabis festivals, while the third permits veterinarians to legally discuss cannabis treatments for animals with their clients. Since Proposition 64 was approved by Golden State voters in 2016, the cities of Oakland, San Francisco, Sacramento, and Los Angeles have established equity programs to encourage diversity in their local cannabis industries. On Wednesday, Gov. Brown signed the Cannabis Equity Act, which will further the state’s push for equal opportunity in legal marijuana. Every jurisdiction that has established its own local equity program can now apply for a slice of a $10 million fund set aside by the state for this purpose.
Gov. Jerry Brown Blocks Medical Cannabis Products On School Campuses (CA – Cannabis Legislation)
KTLA (September 28, 2018) Voicing concern about exposing minors to marijuana, Gov. Jerry Brown on Friday vetoed a measure that would have allowed parents to bring medical cannabis to school campuses for their children in districts that sign off on the practice. State Sen. Jerry Hill (D-San Mateo) had proposed the legislation to provide medical help for children who suffer from epilepsy and other illnesses whose symptoms might be helped through oral, non-smokeable doses of cannabis. The measure, Hill said, “lifts barriers for students who need medical cannabis to attend school.” But the governor said he was uncomfortable with the proposal, which comes the same year that California began licensing businesses to sell marijuana to adults for recreational use.
California Governor Sets Aside $10 Million To Help Victims Of The War On Drugs (CA – Equity Program)
Civilized (September 29, 2018) Entrepreneurs from communities that have been hit the hardest by the War on Drugs can now apply for a host of grants to jumpstart their cannabis businesses. On Thursday, California Governor Jerry Brown (D) signed a bill that allows local jurisdictions to apply to California’s Bureau of Cannabis Control for grants to help people most affected by the drug war break into the state’s cannabis industry. Governor Brown has pledged to set aside $10 million to provide technical assistance and pay for permits or license fees. The new law is being praised by the American Civil Liberties Union of California (ACLU) and the United Food and Commercial Workers Western States Council (UFCW), which noted that the move is a key part of fulfilling the purpose of the cannabis ballot initiative that Californians approved in 2016.
Foreign Investment In California’s Marijuana Market: What You Need To Know Now (Cannabis Investments)
Above The Law (September 27, 2018) Our California cannabis business have been getting tons of interest and questions lately about foreign investment into California’s booming cannabis industry. As would be expected, much of this interest in foreign direct investment is coming from Israel, Canada, Spain, South America, The Netherlands, the UK, and Germany. Foreign direct investment (FDI) generally refers to a cross-border transaction where a company or investor from Country A invests money in a company located in Country B. FDI exists in several forms. Foreign investors can start a new company and finance and build it from the ground up. They can participate in a joint venture with U.S. partners. They can wholly or partially acquire a U.S. business.
California Pets Can Get Cannabis From Vets (CA – Medicinal Cannabis)
The Leaf Online (September 29, 2018) California has become the first state in the USA to give veterinarians legal protection to answer questions and advise on using medical cannabis for pets. Governor Jerry Brown signed into law September 28 a bill by Assemblymember Ash Kalra (D-San Jose) to allow vets to discuss the use of medicinal cannabis for their animal patients in their licensed practice. Assembly Bill also requires the California Veterinary Medical Board to adopt guidelines that veterinarians may use to follow in discussing medicinal cannabis on an animal within the veterinarian-client-patient relationship. Public interest in using cannabis for veterinary use of cannabis has surged in recent years, as pet owners have seen their old and infirm animals become more mobile, ‘youthful’ and better natured after consuming cannabis products intended for human consumption.
California Just Expanded The Number Of Cities That Can Host Cannabis Events (CA – Cannabis Events)
Amplify Magazine (September 28, 2018) A new California law is taking the handcuffs off the legal cannabis business, vastly expanding the locations and towns allowed to host events with legal weed. California Governor Jerry Brown signed AB 2020 yesterday (Sept. 27) expanding the locations events where pot consumption and even sales can take place. California voted to legalize pot in 2016, allowing recreational sales in cities across the state but restricting weed events to state-owned fairgrounds and requiring event producers to get a sign-off from local government. So far only two cities — Sacramento and Santa Rosa met the requirements, while long-time Cannabis events like the Chalice Cup saw their events cancelled after city leaders in Victorville refused to issue a permit for the long-time event.
Nancy Pelosi Says Marijuana Reform Depends On Trump (USA – Federal Reform)
Marijuana Moment (September 28, 2018) The fate of federal marijuana policy reform is squarely in the hands of President Donald Trump, no matter what happens in November’s midterm elections, House Minority Leader Nancy Pelosi (D-CA) said Friday. During a briefing with reporters on her party’s legislative agenda in Washington, D.C., Pelosi was asked by journalist Matt Laslo whether a Democratically controlled Congress would push forward with cannabis-policy reform next year. Pelosi’s lack of clear commitment to prioritize cannabis legislation if Democrats control Congress in 2019 squares with comments made earlier this week by her second-in-command, Minority Whip Steny Hoyer (D-MD).
U.S. Cannabis Producers Fear Canada Will ‘Dominate The Industry’ (USA – Cannabusiness)
Huffington Post (September 29, 2018) Derek Peterson is worried about Canadian weed. The CEO of California-based marijuana producer and seller Terra Tech is watching the cannabis industry boom north of the border with more than a little apprehension — because he is already seeing the beginnings of an invasion of U.S. markets by Canada’s cannabis firms, today the world’s largest. With Canada set to legalize recreational marijuana on Oct. 17, Canadian cannabis stock prices have soared, giving these startup firms enormous amounts of money with which to invest in their business.
The Federal War On Marijuana (USA – Federal Reform)
Liberty Voice (September 29, 2018) It seemed that Donald Trump had called off his war against marijuana in April when he struck a deal with Colorado Republican Senator Cory Gardner to support the states that have legalized cannabis. This was done in exchange for Gardner’s promise to stop blocking nominations to the Department of Justice. Nevertheless, the White House is ready to wage a “War on Weed.” According to Dominic Holden with Buzzfeed, “the Trump administration has secretly amassed a committee of federal agencies to combat public support for marijuana and cast state legalization measures in a negative light while attempting to portray the drug as a national threat.” Trump is organizing 14 federal agencies and the DEA to aid in pushing his agenda against cannabis, as reported by Buzzfeed.
FDA Says Marijuana Ingredient CBD Doesn’t Meet Criteria For Federal Control (USA – Re-Scheduling)
Marijuana Moment (October 1, 2018) Last week’s decision by the U.S. Drug Enforcement Administration (DEA) to place a marijuana-derived drug in the least restrictive category under federal law was largely based on a recommendation from the Food and Drug Administration (FDA). But according to a recently released internal government letter, the FDA actually concluded that cannabidiol, or CBD, doesn’t meet the criteria for federal control at all. CBD is a non-psychoactive ingredient in cannabis that serves as the basis of a new FDA-approved epilepsy drug, Epidiolex. In order to bring the drug to market, the FDA had to first evaluate its medical utility and potential for abuse and then submit its findings to the DEA.
No, The DEA Did Not Reschedule The CBD Compound (USA – CBD Market)
Forbes (September 28, 2018) There is a certain level of confusion reverberating throughout the cannabis community right now over the DEA’s recent decision to make Epidiolex, the cannabis-based epilepsy drug created by GW Pharmaceuticals, a Schedule V controlled substance. Some folks are convinced that since this FDA-approved medication is pure cannabidiol (CBD) that all CBD products fall into the same category. Sadly, this is not true. The federal government still considers all other cannabis-derived CBD products to be a violation of federal law. The DEA’s official statement in the Federal Register, which published Friday, indicates “this order places FDA-approved drugs that contain CBD derived from cannabis and no more than 0.1 percent tetrahydrocannabinols in schedule V.”
3 Marijuana Stocks To Buy In October (USA – Cannabis Investments)
The Motley Fool (September 30, 2018) If you’ve been trading marijuana stocks hoping to make a lot of money fast, stop it. Even if you’ve been really lucky so far, it’s time to change your perspective. Shift your focus from the short term to the long term. Why? First of all, you’re more likely to generate solid returns. And the reality is that there are several marijuana stocks that have a really good shot at being long-term winners. Three that I think fit the bill are CannaRoyalty, Canopy Growth, and Scotts Miracle-Gro. Here’s why these look like great marijuana stocks to buy in October.