In landmark votes by global and national leaders, cannabis is outgrowing its stigma. Both the United Nations and the U.S. House of Representatives recently made large stands to reclassify cannabis. It's an exciting time for the cannabis industry as old labels are being removed and new science is being recognized.
In other news, Arizona regulators released new details regarding the state's adult-use market and New Jersey lawmakers have reached an agreement on their adult-use regulation bill -- check out the latest!
NATIONAL HIGHLIGHTS
U.N. Votes To Deschedule Cannabis As A Less Dangerous Substance
A United Nations commission voted to remove cannabis for medicinal purposes from the list of Schedule IV substances, the category of the world's most dangerous drugs. Cannabis has been a Schedule IV substance alongside highly addictive opioids such as herion for decades. Although there will be no immediate impact on loosening restrictions around cannabis, many countries look to global conventions for guidance - and this is a symbolic win for advocates of cannabis and drug policy reform. (New York Times)
U.S. House Votes To Federally Decriminalize Cannabis
In a historic move, the U.S. House of Representatives voted in favor of the MORE Act to remove cannabis from the federal schedule of controlled substances. It was the first time either chamber of Congress voted on the issue of federally decriminalizing cannabis and it passed with a 228 to 164 vote. Rep. Earl Blumenauer (D-Ore.), a longtime liberalization advocate, stated, "We are not rushing to legalize marijuana - the American people have already done that. We are here because Congress has failed to deal with a disastrous war on drugs and do its part for the over 50 million regular marijuana users in every one of your districts." (Washington Post)
STATEWIDE CHATTER
Arizona
One month after voters approved marijuana legalization, Arizona regulators have released draft regulations for the state’s adult-use marijuana program. They are working quickly to ensure regulations are established by January 19, when the state will hold the first application process for marijuana establishment licenses. The draft regulations cover licensing fees, the timeline for license approvals, product labeling, public safety protocols and other technical matters. All marijuana establishments have a set licensing fee of $25,000. (Marijuana Moment)
Michigan
Michigan’s adult-use market sold roughly $450 million-worth of marijuana products during its first full year of operation, averaging about $13 million a week in recent months. The market has plenty of growth ahead as state regulators plan to remove the eligibility restriction that requires an adult-use license applicant to also hold an active state medical marijuana business license beginning on March 1, 2021. Furthermore, Detroit – the state’s largest city – will have new cannabis retail opportunities in January. (Michigan Radio)
Mississippi
A new Mississippi Cannabis Trade Association (MSCTA) was formed last week with the goal of creating support and guidance in the state’s new medical cannabis industry. Officials are gearing up for the launch of the new medical marijuana program – the initiative passed by voters last month specifies that the state must make medical marijuana business licenses available by August 15, 2021. Before then, regulations governing the program and setting rules such as application and licensing fees must be established by July 1, 2021. (WJTV)
New Jersey
New Jersey lawmakers have reached an agreement on a bill that would establish regulations for the state’s new adult-use cannabis market. A vote to pass the bill into law is expected later this month, allowing business opportunities to come to fruition. The bill limits cannabis grower licenses to 37 during the first two years of legal sales but specifies no limit for cannabis retail licenses. According to the legalization initiative passed by voters, cannabis business licenses must be made available by June 30, 2021. (NJ.com)
GET TO KNOW UNITY RD. FROM SOMERSET, NJ.
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