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3 Cannabis Legislation Predictions Ahead of the 2020 Election

Will Congress act soon to bring a measure of common sense to this country’s cannabis policy? What about the states?

The glacial pace at which the federal government has implemented cannabis policy–particularly in light of the rapid evolution of cannabis laws at the state level–is at the same time predictable and frustrating to those seeking a measure of certainty. And it begs the question: Will Congress act soon to bring a measure of common sense to this country’s cannabis policy? What about the states?

Will The Hemp Industry Revive New York's Economy?

One Upstate county welcomes the hemp industry as a way to reinvigorate its economy.

Nestled near the confluence of the Susquehanna and Chenango rivers in Upstate New York, the city of Binghamton and the surrounding county, Broome, was always a hotbed of agriculture and manufacturing. From the rivers to railroads to highways, the area has been at the hub of transportation networks and grew steadily through the 20th century.

More states allowing telehealth consults for cannabis authorization

Until recently, the term “telehealth” was known in the medical community, but not the cannabis community.

Since the COVID-19 outbreak sent the country into lockdown, medical marijuana users in many states can now check in with a health care provider by video for authorization, rather than an in-person meeting.

According to MPP.org, 31 states currently allow telemedicine for cannabis patients – 11 of which have temporarily altered their laws as a result of the current coronavirus pandemic.

Aurora Cannabis Appoints New Chief Commercial Officer

Since Aurora Cannabis (NYSE:ACB) reported its impressive third-quarter earnings, it has been making all of the right moves. For the quarter, the company reported revenues of 78.4 million Canadian dollars. The revenues beat analysts’ expectations of 66.6 million Canadian dollars. The company’s management credited the launch of a value brand, Daily Special, in February 2020 and growth in Cannabis 2.0 sales for its impressive third-quarter sales.

Does the cannabis industry have a monopoly problem?

On June 24, US Department of Justice whistleblower John Elias testified that attorney general William Barr ordered investigations of 10 cannabis mergers in the 2019 fiscal year based on personal dislike of the industry. If that sounds like a lot, he said, it is. According to Elias’s testimony (pdf), those reviews accounted for 29% of the antitrust division’s full merger investigations during that period.

Arizona, Nebraska advocates turn in signatures to put legalization on the ballot

 

Legalization advocates in both Arizona and Nebraska have submitted what is likely enough signatures to qualify adult-use and medical programs, respectively, for their November ballots.

The petition signatures must now be verified by the office of each state’s Secretary of State, with confirmations expected in August.