Study: High marijuana taxes don’t deter use; OH cannabis/hemp referendum fails; CO marijuana tax increase; VA legalization bill head start for big biz
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/ TOP THINGS TO KNOW
The Drug Enforcement Administration admitted in a new online quiz that teen marijuana use has declined in recent decades as more states have enacted legaliztion—contrary to prohibitionist fears.
The Colorado House Health and Human Services Committee rejected a bill to put a measure on the November ballot asking voters to increase marijuana and alcohol taxes to support mental health treatment.
A new study found that “there is no apparent correlation between marijuana tax rate and marijuana usage rate”—contrary to the New York Times editorial board’s push to increase cannabis taxes to deter use.
- “The highest taxed state, Washington (43.5%), reported the 6th highest usage rate of 21.99% within the dataset. On the other hand, New Jersey, which had the lowest tax rate (6.625%) also reported the lowest usage rate among the group (14.42%) and ranked in the bottom half nationally. “
Max Jackson of Cannabis Wise Guys argues in a new Marijuana Moment op-ed that Virginia’s cannabis sales legalization bill as passed by lawmakers will give existing companies an unfair head start that leaves new independent businesses behind.
An Ohio cannabis campaign failed to collect enough signatures for a referendum to block new marijuana and hemp restrictions from taking effect.
Virginia lawmakers who sponsored legislation to legalize recreational marijuana sales that passed this session spoke about its provisions and the long road to crafting and negotiating the final version now on its way to Gov. Abigail Spanberger’s (D) desk.
/ FEDERAL
Sen. Ron Wyden (D-OR) claimed that Deputy Attorney General Todd Blanche is blocking the Drug Enforcement Administration from releasing an unredacted document from the Jeffrey Epstein files about an investigation involving drug trafficking and money laundering.
Rep. Don Bacon (R-NE) reportedly angered other members of the Republican Study Committee by bringing a hemp lobbyist to a meeting of the group and yielding time to him to speak.
/ STATES
The Iowa House of Representatives passed a bill to ban kratom.
New Jersey’s Senate president filed a bill to alter the phased-in ban on intoxicating hemp products.
A New Mexico senator discussed the approval of budget legislation providing funding for psilocybin treatment access.
Delaware’s top marijuana regulator spoke to members of the Milford City Council as they reconsider a ban on recreational cannabis sales.
New York cannabis regulators began accepting applications for a second round of Community Reinvestment Program grants.
The Michigan Cannabis Regulatory Agency will hold a public meeting on Thursday.
Oregon regulators will consider a marijuana business violation stipulated settlement agreement on Thursday.
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/ INTERNATIONAL
A Canadian court overturned officials’ rejection of a security clearance for a cannabis business worker based on a social media connection.
/ SCIENCE & HEALTH
A review concluded that “the incidence of substance abuse (especially alcohol and cannabis) among musicians is higher than that of the general population.”
A study pointed to “psilocybin as a promising treatment alternative for severe, treatment-resistant [obsessive compulsive disorder] when administered in a supportive clinical context.”
/ ADVOCACY, OPINION & ANALYSIS
The New York Medical Cannabis Industry Association, Empire Cannabis Manufacturers Alliance, New York Cannabis Retail Association, Association of New York Cannabis Processors and Cannabis Association of New York sent a letter urging Gov. Kathy Hochul (D) to take steps to stabilize the marijuana industry.
/ BUSINESS
High Tide Inc. reported quarterly revenue of C$178.3 million and a net loss of C$0.4 million.
Trulieve Cannabis Corp.’s chairman and CEO established an automatic securities disposition plan.
Klutch Cannabis is being sued by Klutch Sports Group for alleged trademark infringement.
The Cannabist Company Holdings Inc. announced that noteholders of its senior secured notes and senior secured convertible notes agreed to a further extension and to forbear from exercising any of their rights and remedies.
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