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🌿 Tim Walz’s stance on weed, Ohio opens up adult-use, and senators rally around rescheduling

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: Tim Walz’s stance on weed, Ohio opens up adult-use, senators rally around rescheduling, and more. Let’s get to it.

Author

Alex Lipnik
August 09, 2024

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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:

  • Tim Walz’s stance on weed

  • Ohio opens up adult-use

  • Senators rally around rescheduling

…and more. Let’s get to it.

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🚨 ROLL CALL
Policy

Source: Brendan Lynch / Axios & Eva Marie Uzcategui / Bloomberg

Walz on weed. At the beginning of the week, Vice President Kamala Harris — the Democratic presidential nominee for the upcoming election — selected Minnesota Governor Tim Walz as her VP running mate.

The addition of Walz makes for the most pro-cannabis ticket in history.

Per Marijuana Moment, during his time in the U.S. House of Representatives, Walz sponsored or cosponsored legislation to:

  • promote medical marijuana research for veterans

  • create a regulated hemp program

  • legalize non-intoxicating CBD

In May 2023, Walz made Minnesota the 23rd state to legalize adult-use cannabis when he signed the measure into law.

In doing so, he also vowed to expunge nonviolent cannabis convictions. A year later, more than 57,000 records for low-level cannabis crimes were sealed.

Walz has been given an ‘A’ letter grade by NORML, a nonprofit public-interest advocacy and lobbying group for cannabis policy reform.

Business

Source: Allie Carl / Axios

Open up Ohio. Ohio officially opened its adult-use market this week. Close to 100 dispensaries across the state kicked off recreational cannabis sales.

In November of last year, voters in Ohio comfortably approved a ballot measure to legalize recreational cannabis. At the time, it made Ohio the 24th state with an adult-use market.

Policy

Source: Amanda Andrade-Rhoades / AP Photo

Rallying around rescheduling. Senator Cory Booker (D-NJ), Majority Leader Chuck Schumer (D-NY), and Finance Committee Chair Ron Wyden (D-OR), along with a handful of other colleagues, sent a letter to Attorney General Merrick Garland and DEA Administrator Anne Milgram in support of moving cannabis from Schedule I to Schedule III under the Controlled Substances Act.

“We write to express support for the Drug Enforcement Administration’s proposal to transfer marijuana from schedule I to schedule III of the Controlled Substances Act (“CSA”). The proposed rule to reclassify marijuana to schedule III recognizes the medical benefits of marijuana, will improve access for studying the health effects of short and long-term cannabis use, and will provide relief to cannabis businesses that continue to navigate a patchwork regulatory system to conduct legal business.”

Earlier this year, the same group of senators reintroduced the Cannabis Administration and Opportunity Act — legislation that would go even a step further and end the federal prohibition of cannabis by removing it from the list of federally controlled substances entirely.

🇺🇸 STATE OF THE INDUSTRY

Massachusetts: The Cannabis Control Commission failed to collect over $500,000 in licensing fees.

Missouri: Governor Mike Parson issued an executive order prohibiting the sale of Delta 8 and other hemp-derived products.

Nebraska: Lawmakers introduced two bills aimed at legalizing cannabis in an effort to help offset property taxes.

New York: Governor Kathy Hochul announced 86 additional adult-use licenses have been issued — 19 cultivators, 11 distributors, 16 microbusinesses, 18 processors, and 22 retail dispensaries.

Oregon: A measure to allow cannabis industry workers to unionize qualified for the November ballot.

💼 BUSINESS

Curaleaf communicates CEO change

The international cannabis consumer products company revealed founder and current executive chairman Boris Jordan will replace Matt Darin as Chief Executive Officer for the largest U.S. cannabis business.

💻 TECH

Growlink raises seed financing

The agricultural technology provider creating cultivation solutions for cannabis growers closed a $2 million round led by Casa Verde; the company has operated profitability for the past 10 years without any external funding or debt, steadily growing its customer base to over 2,200 active locations in 35 countries.

Metrc debuts Retail ID

The cannabis regulatory technology company launched a new solution designed to enhance supply chain transparency, bolster compliance, simplify brand processes, and reduce labor for retailers and brands through item level identification with serialized QR codes.

💨 QUICK HITTERS
📚 WHAT WE’RE READING
🎙️ POTCASTS

  • More States Welcome Cannabis Business Tax Deductions (Talking Tax from Bloomberg Tax)

  • How Top Cannabis Companies Keep and Attract Employees (The Dime)

  • Jackie Gonzalez-Becerra, VP of Revenue at Weedmaps. Tech & Cannabis It’s Not A Breeze! (Karma Koala)

📽️ VIDEO OF THE WEEK
🔎 JOB BOARD

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Stay tuned for more cannabis industry news next week!

💚,

The Pre Roll Team

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