Cannabiz License News - Issue #1435
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Cannabiz License News
From local ballots to Capitol Hill, 2024 is shaping up to see another drug policy reform push that again puts laws around marijuana and psychedelics in the spotlight as advocates work to leverage continuing momentum.
The Biden administration is recommending the Drug Enforcement Agency significantly lower federal restrictions on marijuana by demoting it from a Schedule 1 to a Schedule 3 drug. Now, the DEA defines Schedule 1 drugs as those with no medical use and a higher potential for abuse, meaning weed was grouped with drugs such as heroin.
The Drug Enforcement Administration (DEA) is telling lawmakers that it reserves “the final authority” to make any scheduling decision on marijuana following an ongoing review, regardless of what the U.S. Department of Health and Human Services (HHS) recommends.
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Michigan became the nation’s dominant marijuana market in 2023. While state sales slowed in more mature markets like California and Colorado, Michigan sales continued to bloom. Total sales in 2023 through November reached $2.8 billion, half a billion dollars more than the total sales in 2022. The state should easily eclipse $3 billion in total sales for the year.
New Mexico - Two cannabis businesses in New Mexico hit with $2 million fine and have licenses revoked over ‘illicit activity’
New Mexico marijuana regulators on Tuesday revoked the licenses of two growing operations in a rural county for numerous violations and have levied a $1 million fine against each business.
With the legislature coming back into session for the new year, Gov. Mike DeWine (R) said “we just need to get something done” to address the adult-use sales rollout timeline under a voter-approved legalization law that took effect last month.
Hemp growers and retailers in Tennessee say that newly proposed regulations threaten the viability of businesses in the industry and vow to challenge the rules before they go into effect, according to media reports.
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