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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:

• Law enforcement and military vets lobby on rescheduling

• CanPay bolsters payments platform

• Ukraine makes legalization for medical use official

…and more. Let’s get to it.

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🚨 Roll Call

Policy

Recommendations for rescheduling. Law Enforcement Leaders to Reduce Crime & Incarceration (LEL), a group of current and former police chiefs, sheriffs, federal and state prosecutors, attorneys general, and correctional officials from across the country dedicated to reducing crime and incarceration, sent a letter to President Joe Biden urging him to reschedule cannabis under the Controlled Substances Act (CSA). Notably, although the letter did not contain her signature, DEA Administrator Anne Milgram is included among the LEL membership.

Another letter, from some of the nation’s largest veterans groups, echoed a similar sentiment surrounding cannabis rescheduling:

The letter was put together by the Iraq and Afghanistan Veterans of America, AMVETS, American GI Forum, the American Legion, Blinded Veterans Association, and the Minority Veterans of America.

Tech

Payments pioneer powers up. CanPay, a pioneer in cannabis payments and one of the largest payment networks for cannabis retailers and consumers, has strengthened the bank linking capabilities on its payments platform to enable faster, more secure connections between more than 14,000 financial institutions and the CanPay app. The ACH-powered platform offers instant approval and activations for new users.

CanPay surpassed 1,000 participating dispensaries in January of last year, a number that now exceeds 1,100 across 30 states. In 2022, the company topped half a billion dollars in total transactions.

Solutions leveraging the Automated Clearing House (ACH) have become a lifeline for dispensaries, as traditional payments companies have taken a stance against servicing the cannabis industry. For instance, Mastercard, one of the world’s largest payment processing companies, issued a statement telling banks to stop allowing cannabis transactions on its debit card rails in July of last year.

Policy

Ukraine makes moves on medical. Ukrainian President Volodymyr Zelensky officially signed a bill to legalize cannabis for medical use, a move that had growing support for its potential impact to help cope with war-related medical conditions.

In December, the Verkhovna Rada, Ukraine’s parliament, voted in favor of legalizing medical cannabis.

Recreational use of cannabis will still remain strictly prohibited.

🇺🇸 State of the Industry

Arkansas: Attorney General Tim Griffin approved language for an initiative aimed at expanding access to medical cannabis, allowing supporters to begin gathering signatures in hopes of getting it on the November ballot.

Delaware: Plans to open recreational cannabis dispensaries have been pushed back from late 2024 to early 2025..

New York: Governor Kathy Hochul announced the approval of the first 109 non-conditional adult-use cannabis licenses.

South Carolina: A bill to legalize medical cannabis passed the state Senate, but uncertainty remains in the House of Representatives.

Wisconsin: A Republican proposal to legalize medical cannabis is dead, at least for now.

📊 Business

4Front ventures into flower

The vertically integrated, multi-state cannabis operator and retailer announced the launch of Mission Cannabis, its marquee premium flower brand rooted in expert cultivation and consumer insight.

🤝 Deals

Blüm publicizes proposed acquisition

The California-based cannabis company executed a binding letter of intent to add three additional dispensaries to its retail portfolio as part of its expansion strategy.

💻 Tech 

Metrc wins track-and-trace contract in Kentucky

The cannabis regulatory technology company revealed it was selected to support the regulation of the medical cannabis market in the Bluegrass State.

🏆 Awards & Honors

List 2023 (LeafLink): Winners were announced for the annual celebration of the best brands, retailers, and products from the LeafLink community that are shaping the future of cannabis.

💨 Quick Hitters

• NYC Bud, a new cannabis dispensary in Long Island City, is paying homage to the NYC subway.

• A mural of legendary rapper Notorious B.I.G. outside a Brooklyn dispensary was saved after public outcry.

• Women-founded edibles brand Goddess Growers is entering the Ohio medical cannabis market, with plans to participate in the adult-use market as well.

• The first CBG-based cannabis beverage in Texas has officially hit the market.

📚 What We’re Reading

• Legal Weed in New York Was Going to Be a Revolution. What Happened? (The New Yorker)

• Why cannabis regulation makes sense (Virgin — Richard Branson’s Blog)

• Veterans groups join calls for Biden administration to reschedule marijuana (NBC News)

• Mike Tyson urges Biden to free thousands locked up over cannabis: ‘Right these wrongs’ (The Guardian)

• Selling Weed, but Making It Fashion (The New York Times)

• I bought a pot vape pen in San Francisco. It sent me down a wild rabbit hole. (SFGATE)

🎙️ Potcasts

• Green Horizons: Navigating New Strains, Laws, and Dispensaries with Ivy Hall's Omar Delgado (Cannabis Man)

• State By State Policy Updates With Hirsh Jain (The Mary Jane Society Podcast)

🔎 Job Board

• Regional Sales Director - Midwest

  • Kiva Brands

  • $160,000—$185,000

• Account Manager, Brands

  • LeafLink

  • $75,000—$100,000

• SaaS Onboarding Coach

  • BLAZE

📨 Puff, Puff, Pass Reeferal Program

Stay tuned for more cannabis industry news next week!

💚,

The Pre Roll Team

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