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Happy Friday Pre Rollers! Welcome to another edition of The Pre Roll, the cannabis newsletter that keeps you up-to-date on the industry happenings you need to know.

Here’s what we’re rolling up this week:

• U.S. Census Bureau reports cannabis tax revenues

• Ohio puts recreational cannabis on the ballot

• Trulieve bets big in Florida

…and more. Let’s get to it.

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🚨 Roll Call

Policy

Census (Taxes) Tract. The United States Census Bureau released its first-ever report on state-specific cannabis tax revenues. The data set includes information from Q3 2021 through Q2 2023. In total, states collected more than $5.7 billion in tax dollars from licensed cannabis sales. California led the way bringing in over $1.4 billion.

Five states showed cannabis tax revenue making up more than 1% of total taxes in the most recent quarter listed:

• Oregon: 3.19%

• Michigan: 2.16%

• Illinois: 2.04%

• Alaska: 1.32%

• Colorado: 1.21%

In August, the U.S. Census Bureau updated its 2022 Economic Census to include options relating to cannabis retailers in a move to more accurately depict the nation’s ever-changing business landscape.

The continued emphasis on the cannabis industry shows a shift in perception from the federal government that seems to be taking the industry more seriously.

Policy

Buckeye on the prize. As of August, recreational cannabis legalization has been set to officially be on the ballot in November when Ohioans head to the polls. Ohio Secretary of State Frank LaRose confirmed as much.

Governor Mike DeWine immediately spoke out in opposition. A new resolution introduced by state Republicans echoes more of the same, encouraging residents to vote against the measure.

This comes despite favorable recent polling which suggests nearly 60% of voters support recreational cannabis legalization. Many already in the industry on the medical side are hoping for the measure to pass to help boost their bottom line.

Policy

Trulieve to form. Vertically integrated, multi-state operator Trulieve has added another $500,000 to a ballot initiative in Florida focused on legalizing adult-use cannabis, bringing its total contributions to more than $39.5 million. It recently chipped in $550,000 in May as well.

The company has put up all but about $125 of the total raised so far by the political committee Smart & Safe Florida, the group leading the charge on the "Adult Personal Use of Marijuana" amendment that would allow those 21 and older to purchase, possess, and use cannabis recreationally.

Per POLITICO, the measure has gathered enough signatures to bring it before voters in 2024.

Trulieve stands to be a big winner should the initiative pass.

🇺🇸 State of the Industry

Alabama: The Medical Cannabis Commission adopted new rules, resetting the license application process for the third time.

New Jersey: Jersey City is suing the state in federal court in an attempt to prevent police officers from consuming cannabis off duty; Attorney General Matt Platkin says state law allows them to do so.

North Carolina: A Native American tribe — the Eastern Band of Cherokee Indians — will issue medical cannabis cards allowing residents to buy the first legal cannabis in the state.

📊 Business

Tilray launches new sustainability effort

The global cannabis consumer packaged goods company announced a transition to hemp packaging for its Good Supply brand as part of a “Green You Can Feel Good About” campaign.

💻 Tech

Green Check debuts API suite

The cannabis fintech and financial services firm unveiled Green Check Access,  a suite of robust APIs allowing CannaTech, large cannabis operators, and other stakeholders to harness the power of data to build better, more tailored experiences for their customers.

💨 Quick Hitters

• A new drug-testing policy reform in Anchorage, Alaska will allow most city employees to use legal cannabis when they are off-the-clock.

• A Utah-based startup offering cannabis DUI insurance is looking to sell its product in the Oregon market.

• A suburban Chicago K9 trainee found several hundred pounds of cannabis in odor-proof packaging.

📚 What We’re Reading

• Cannabis entrepreneur rolls his fortune into real estate and sports deals (CNBC)

• Canadian cannabis market struggles five years after legalisation (BBC)

• As Marijuana Banking Reform And Rescheduling Loom, We Must Not Forget Medical Cannabis Patients (Op-Ed) (Marijuana Moment)

• As more states legalize cannabis, the market for seeds is in full bloom (The Guardian)

📼 Video of the Week

🔎 Job Board

• Cannabis Program Manager

  • County of Monterey

• Head of Programs and Cannabis

  • GBLI | Global Indemnity 

• Territory Sales Manager

  • Nowadays

Stay tuned for more cannabis industry news next week!

💚,

The Pre Roll Team

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