Cannabis is emerging from the shadows of prohibition. Every week, there are advancements in many fields related to cannabis. Cannabis Reports will be re-capping the weekly events of the cannabis community and industry, so that you can stay up-to-date on the latest developments.
Senate Appropriations Committee
This past Thursday, the Senate Appropriations Committee passed an amendment 16-14 that would keep federal agencies from using funds to punish financial institutions that accept cannabis business deposits. The approval of this measure means that the Senate floor will now discuss cannabis banking for the next Appropriations Act for Fiscal Year 2017. Banking has been one of the most prohibitive aspects of the shift toward legitimate cannabis. Financial institutions risk losing their federal accreditation if they work with businesses that operate in the cannabis industry. This is because cannabis is still classified by the DEA as being a Schedule I drug, with a high potential for abuse and absolutely no known medical benefit. Cannabis Reports lists 628 studies that pertain to 138 conditions, all of which point to the opposite.
Colorado Bans Appealing Gummies
House Bill 1436 was signed by Colorado Governor John Hickenlooper, outlawing cannabis-infused edibles that may be appealing to children. Specifically, the law prohibits edibles that “resemble the form of a human, animal, or fruit.”
These types of restrictions could effect many manufacturers who have built brands based on these types of treats. Policymakers have argued that cannabis edibles in playful forms are more likely to be mistaken by children for a regular treat.
The law goes into effect this July 1st, and Colorado has also instituted a regulation to mark all cannabis edibles with a distinct mark that intends to dissuade children from accidental ingestion.
Microsoft Enters Industry
Microsoft has entered the cannabis industry by partnering with Kind Financial, whose software Agrisoft is meant to rival other “seed-to-sale” traceability softwares. The New York Times quoted Kimberly Nelson, executive director of state and local government solutions at Microsoft, as saying: “As the industry is regulated, there will be more transactions, and we believe there will be more sophisticated requirements and tools down the road.” Compliance has been a major issue for cannabis regulators as the industry finds its legitimacy. Many softwares, such as Metrc, MJ Freeway, and BioTrackTHC, have signed contracts with states in which commercial cannabis sales for medical or recreational use have been permitted.
Baltimore Ravens Drop Eugene Monroe
The Baltimore Ravens have dropped offensive tackle Eugene Monroe under dubious circumstances. Earlier this year, Monroe donated a substantial amount to cannabis research, and publicly supported cannabis as an alternative to the opioid epidemic that plagues veteran NFL players. John Harbaugh, coach of the Baltimore Ravens, has claimed that the team’s motive to distance themselves from Monroe is purely a “football move.”
— Eugene Monroe (@MrEugeneMonroe) June 16, 2016
Harbaugh, perhaps acting as a conduit for the Ravens’ notoriously dramatic front office, pointed to the recent draft of tackle Ronnie Stanley and also noted that Monroe has had problems with injuries as of late. On the other hand, Harbaugh said he believes Monroe is a fantastic player who will have no problem finding a home on a different NFL team. So why then did the Ravens so hastily drop Monroe? The decision to trade was announced earlier this week, with a firm cut deadline of Thursday. The New York Giants are reported as saying (very pointedly) that their organization does not judge players on personal opinions. Many experts are wondering if NFL commissioner Roger Goodell applied pressure on the Baltimore Ravens due to the league’s stifling stance on cannabis.
University of MO says no to MJ T-shirt
NORML’s campus chapter at the University of Missouri at Columbia is arguing that their first amendment rights have been violated after they were denied the ability to sell T-shirts featuring a cannabis leaf.
The MU chapter for the National Organization for the Reform of Marijuana Laws was intending to sell the T-shirts in an attempt to raise money. They even put in effort to seek permission from their school’s administration, but only received a rejection letter in response, which they intend to review.
Hunters, conservationists sue CA
Mendocino County is being taken to court by the Mendocino County Blacktail Association for permitting increased cannabis cultivation without properly conducting research on the environmental impacts. The Blacktail Association paints themselves as wildlife conservationists intent on preserving the rich environmental culture of Mendocino County. See the photos from their website below: The lawsuit is a result of an urgency ordinance that allows permitted cultivators up to 99 plants per parcel, rather than the 25 plant limit that still exists for non-permitted cultivators. According to the The Press Democrat, a local news source for Mendocino county: “The county adopted interim rules because a permanent ordinance had been delayed by the admitted need for an environmental impact report.” So basically the county is being sued for implementing an interim ordinance as they conduct a study on the environmental ramifications of increased cultivation.
Upcoming Cannabis Events
Cannabis World Congress and Business Expo – (New York, NY: June 15-17) The 2nd Annual Cannabis World Congress and Business Expo is the leading forum for doing business in one of the fastest growing industries in the United States. If you’re employed in the cannabis industry, a current business owner, interested in starting a cannabis business, provide private equity & investment resources, or provide professional or business services, this is an event you can’t afford to miss. High Times Cannabis Cup – (San Francisco, CA: June 18-19) HIGH TIMES is returning to the Cow Palace on June 18 – 19 for the 2016 NorCal Medical Cannabis Cup. This is the 7th Annual HIGH TIMES Medical Cannabis Cup in the Bay Area, the longest running of all HIGH TIMES U.S. Cups. HIGH TIMES Editors will be conducting seminars with leading experts of local and national fame and visiting VIPs in the newly expanded VIP lounge. Over 400+ vendors will be on hand to educate and entertain an already record crowd. NCIA’s Cannabis Business Summit – Oakland, CA: June 20-22) Make Your Voice Heard: The ONLY event where you will have an opportunity to meet with national policy makers and influencers as they converge with the leading trade association shaping the cannabis economy. Network with 3,000 of your peers – including growers, dispensaries and infused makers product manufacturers. 15% off tickets by using code: “REPORTS15” Your exposure to the highest concentration of legitimate buyers and sellers in America’s fastest growing industry, all in one place. Gain knowledge in 30+ sessions with over 75 speakers to bring you up to speed on the rapid changes of your industry. THC Fair – (Fairbanks, AK : June 25) You’ll find hemp and cannabis products, accessories and tools, grow and harvest equipment and more in our amazing expo hall. Then, take in some great sessions on growing, medicinal benefits, prop 91 and more! Cannabis Charity Open – (Denver, CO: June 26) Premium Pete’s Cannabis and High Rollers dispensary are partnering with The Hemp Connoisseur Magazine to host the Cannabis Charity Open benefiting the Denver Colorado AIDS Project (DCAP). As part of an industry born by the will of the voters, it is important to give back to the community. By sponsoring the charitable golf tournament in Denver, they hope to help those affected by HIV/AIDS to live healthier, more comfortable lives.
Popular from Our Social Media
For the most up to date info on Cannabis Reports, follow us on Twitter, and like us on our Facebook page. If you see that we overlooked an event this past week in cannabis, please join the discussion in the comment section below, or through our social media links.