Here is today's cannabis news in 60 seconds. Massachusetts votes today, and the industry is still sorting out who the DEA let in.
Ballots
Massachusetts voters decide Question 8, the repeal of adult-use sales, today. Roughly $330M a year in state cannabis taxes is at stake. Police groups, including the National Association of Black Law Enforcement Officers, are urging a No vote. Trefis calls it cannabis stocks' biggest vote of the year.
Federal
The fallout from the DEA's first registrations continues. Vireo Growth received registrations for its Florida medical dispensaries, and Texas dispensaries have started receiving theirs. MJBizDaily reports adult-use operators were denied federal recognition, and a Minnesota denial is raising Schedule III questions. The LA Times notes that registration could unlock tax breaks for medical operators.
Research policy
The AMA raised concerns about cannabis, kratom and other botanical drugs with federal officials while pushing for a special schedule to support research. Separately, American Heart Association research linking cannabis to stroke and heart problems is getting wide coverage.
Companies
Tilray is closing its Fenwick facility while keeping Redecan supply going, part of a Canadian consolidation MJBizDaily puts at about $10M in annualized savings. Curaleaf took an equity stake in Boone Town Provisions, its fourth New Jersey dispensary.
States
New York ended its labor-peace mandate for cannabis businesses. Ontario is proposing a crackdown on illegal stores, which legal retailers say is overdue. Virginia is preparing for retail licensing, and Oklahoma began enforcing new medical packaging rules.
Hemp
CNN walks through which hemp products become illegal when the federal ban takes effect in December. New Jersey is moving its deadline for THC seltzers in liquor stores.
The takeaway: today's vote and the DEA's split between medical and adult-use operators both point the same way. Policy, not demand, is deciding who wins this year.
Which matters more for your business this quarter: Question 8 or your DEA status?
Sources
- Question 8 and $330M in taxes
- Police groups urge No on 8
- DEA registers Trulieve, denies adult-use operators
- Vireo Florida registrations
- AMA special schedule
- Tilray consolidation
- New York labor-peace repeal
- Hemp ban explainer
#cannabis #cannabisindustry #Massachusetts #rescheduling #cannabispolicy
