Welcome back to The Week in Weed, your Friday look at what’s happening in the world of legalized marijuana. This week, there’s been a lot of activity in New York as regards cannabis regulation. New Hampshire’s Senate has taken up a cannabis legalization bill. Minnesota’s Legal Marijuana Now party is no longer a major party in the state. Ohio could start adult-use sales this summer. And finally, Steven Van Zandt has launched a marijuana brand.

Continue Reading The Week in Weed: May 17, 2024

Welcome back to The Week in Weed, your Friday look at what’s happening in the world of legalized marijuana. This week, we see Senate Democrats introduce a bill to legalize cannabis at the federal level. Florida Republicans, on the other hand, are opposing the state legalization initiative on the November ballot. Speaking of ballots, South Dakota legalization advocates are trying (yet again) to put an initiative on their ballot. As we predicted, there’s already talk of a lawsuit to prevent cannabis re-scheduling. And finally, Minnesota’s first “cannabakery” is open in Minneapolis.

Continue Reading The Week in Weed: May 10, 2024

Welcome back to The Week in Weed, your Friday look at what’s happening in the world of legalized marijuana. In what’s probably the biggest news in cannabis since Canada legalized, the Drug Enforcement Administration has decided to move cannabis from Schedule I to Schedule III. But that’s not all! Kansas will not be legalizing medical marijuana. New Mexico’s governor is less than delighted with the federal government. A North Dakota ballot initiative has been cleared for signature gathering. And finally, there’s a display of bongs in a San Francisco art museum.

Continue Reading The Week in Weed: May 3, 2024

Cannabis would move to Schedule III from Schedule I under this reclassification.

In a move long awaited by the cannabis industry, the Drug Enforcement Administration (DEA) has decided to re-schedule cannabis. Currently classified under Schedule I, along with heroin, cannabis would now move to Schedule III, along with ketamine and anabolic steroids.

This would not legalize cannabis for adult-use; rules and regulations would still apply, and there would be criminal prosecution of those who deal in cannabis without a license.

Re-scheduling, although much closer than it was yesterday, is still a ways off. The DEA rule needs to be reviewed by the White House Office of Management and Budget. After that review, there would be a public comment period (which looks to be at least 60 days, although no firm timeline has yet been set), after which the DEA rule would be published and go into effect. Given the controversy surrounding both the rescheduling and legalization of marijuana, we would not be surprised if there is litigation that seeks to stop the rescheduling from going into effect.

This story was first reported by the Associated Press. More details and commentary will appear in this week’s Week In Weed.

Welcome back to The Week in Weed, your Friday look at what’s happening in the world of legalized marijuana. This week, we check in on the New York dispensary situation. We see that Kentucky has set up a lottery to distribute medical marijuana licenses. We note Rep. Blumenauer’s prediction about cannabis re-scheduling. And finally, you know a holiday has hit the big time when it’s been commercialized by big business.

Continue Reading The Week in Weed: April 26, 2024

As many states continue to ease regulations and the Food and Drug Administration considers moving cannabis to Schedule III, commercial real estate is increasingly buzzed with interest in properties for use by cannabis businesses, from agricultural land and warehouses to retail spaces. Despite this seemingly abundant opportunity, investors currently find themselves navigating the still murky waters of federal illegality.

The Blunt Truth’s Stan Jutkowitz joins James O’Brien and Eric Greenberg on The Property LineTM Podcast to discuss the cannabis industry landscape, hurdles faced when securing and investing in suitable real estate, and risks and liabilities for owners leasing to cannabis businesses.

Continue Reading Highs and Lows of Cannabis CRE

In a recent legal development that underscores the intricate interplay between federal bankruptcy law and the cannabis industry, a court case has emerged involving a bankruptcy filing by an employee of a cannabis company. It is well established that, because cannabis is generally considered a controlled substance under the federal Controlled Substances Act (CSA), certain cannabis related companies are precluded from obtaining debt relief through bankruptcy. Now, individuals employed by cannabis companies might find themselves in the same boat. In Blumsack v. Harrington, 2024 Bankr. LEXIS 560* (March 2024), the United States Bankruptcy Appellate Panel for the First Circuit (the “Bankruptcy Appeals Court”) upheld, albeit on different grounds, the United States Bankruptcy Court for the District of Massachusetts’ dismissal of the Chapter 13 bankruptcy filing of an individual employed by a cannabis company, because of the source of the individual’s income.

Continue Reading Budtender Bankruptcy Blindside

Welcome back to The Week in Weed, your Friday look at what’s happening in the world of legalized marijuana. This week, Virginia Governor Youngkin took action on the retail market bill. The Florida Supreme Court handed down their decision on a ballot initiative. The Kansas legislature determined how to proceed on a medical marijuana measure. Federal legislators asked the Department of Justice to develop a successor to the Cole Memorandum. And finally, there’s a new reality series in the works that involves cannabis.

Continue Reading The Week in Weed: April 5, 2024

Welcome back to The Week in Weed, your Friday look at what’s happening in the world of legalized marijuana. This week, we see Janet Yellen expressing support for the SAFE Banking Act. Germany legalizes cannabis, but not a retail market. A group of Attorneys General express their views on hemp. And finally, Mike Tyson is selling cannabis edibles – only one guess as to their shape.

Continue Reading The Week in Weed: March 29, 2024

Welcome back to The Week in Weed, your Friday look at what’s happening in the world of legalized marijuana. This week, we note that New York Governor Hochul has had just about enough of the problems with cannabis licensing in her state. The Vice President held a roundtable discussion on cannabis in the White House. Maryland held a cannabis lottery late last week for social equity licensees. We check in on Virginia to see how that retail market bill is coming along. And finally, the New Orleans Police Department really needs to better secure its evidence room.

Continue Reading The Week in Weed: March 22, 2024