Welcome back to The Week in Weed, your Friday look at what’s happening in the world of legalized marijuana.
Let’s start out with the world of cannabusiness. MedMen CEO Adam Bierman left the company effective February 1. Shares climbed 13% on the news. Bierman is not the only person in the industry losing his job; several companies recently announced layoffs.
Turning our attention to the states, the New York State Bar Association announced its approval of legal adult-use cannabis. Perhaps a thumbs-up from a bunch of lawyers will do the trick this time?
Missouri is also looking favorably on recreational marijuana. Missourians for a New Approach supports a ballot initiative; they need 160,000 signatures by mid-May, so the clock’s ticking!
Minnesota is taking another look at adult-use marijuana. A legalization bill is expected next week.
Many lawmakers have criticized the current cannabis banking system. Gov. Jared Polis (D-CO) did something about it. His “Roadmap to Cannabis Banking” lays out a blueprint for state-chartered banks to help the industry. It’s earned the support of one of the state’s representatives, Ed Perlmutter.
So it’s time for another round of “Where Do The Candidates Stand on Marijuana?” First up is Senator Bernie Sanders (I-VT) who will legalize cannabis on Day 1 of his Presidency. Hard to be more pro-legalization than that.
Former New York City Mayor Mike Bloomberg (D-NY) has modified his position on marijuana. Last year he said legalization was stupid; now he says putting people in jail for possession is dumb and supports decriminalization.
Former Vice President Joe Biden (D-DE), who has been reluctant to support legalization in the past, “kinda sorta” indicated that it was time to legalize.
And finally, in out of this world news, cannabis has now been launched into outer space.