Society News

The cannabis land grab is getting more competitive.

Life lessons are great once learned, but the acquisition process is usually painful. So let's speed up the process.

The Secure and Fair Enforcement (SAFE) Banking Act (a marijuana banking act) has been reintroduced to the House by Rep. Ed Perlmutter (D-CO); this bill protects financial institutions that service state-legal marijuana businesses from being penalized by federal regulators. Previously, the bill had cleared the House but did not advance in the Republican-controlled Senate. There are currently 206 cosponsors of the marijuana banking bill, as well as expressed support from 13 Republicans. The bill does not federally legalize cannabis. It also does not contain long-sought relief from a corporate income tax penalty which allows only the cost of goods sold to be deducted as an operating expense, or provisions to allow stock market listings, although SAFE would allow banks to perform custodial services for U.S. firms’ stock trading.

The Texas House of Representatives on Tuesday approved a bill to reduce penalties for possession of marijuana concentrates—and lawmakers separately advanced legislation to require studies on the therapeutic potential of certain psychedelics for military veterans.

A bipartisan bill to protect banks that service state-legal marijuana businesses from being penalized by federal regu...

As more states, including Virginia and New York, continue to legalize marijuana, an overwhelming share of U.S. adults (91%) say either that marijuana should be legal for medical and recreational use (60%) or that it should be legal for medical use only (31%). Fewer than one-in-ten (8%) say marijuana should not be legal for use by adults.

In a week where overall markets traded up, cannabis stocks were in the red, despite a series of big news, M&A and financing announcements.

A university in Colorado is banking on the future of cannabis. Students at Colorado State University’s Pueblo campus will be able to major in cannabis starting in the fall.

Cannabis reform is the hot topic in the Texas legislature this week, with lawmakers holding hearings on multiple marijuana decriminalization bills, a proposal to expand the state’s medical cannabis program and another piece of legislation concerning hemp regulations.

The NYPD has told cops how to enforce the state’s new marijuana law — which includes letting adults light up in public, ignoring the exchange of weed unless money is involved and banning vehicle searches based on smell alone.

Will the SAFE Act Become Law In 2021? The SAFE Act has been reintroduced and passed the House and now has made its way to the Senate. 

A new bill to legalize marijuana in New York was released on Saturday after lawmakers and the governor finalized a deal that has been negotiated for weeks. Votes in the legislature are now expected to take place in the coming week.