The rise of delta-9 THC products derived from hemp, commonly sold online and shipped across state lines with little of the taxes or safety requirements faced by marijuana producers, has the cannabis industry bracing for tighter state and federal limits on intoxicating hemp products.
The federal marijuana reform landscape in 2022 is cloudy, with most national insiders doubting a comprehensive legalization bill will succeed just yet given the unfavorable political dynamics in Washington DC.
U.S. Senate Majority Leader Chuck Schumer and fellow Senators Cory Booker and Ron Wyden formally announced Monday that they are working together to advance comprehensive marijuana reform legislation.
The coming year will bring the cannabis industry new state legalization initiatives and a resurgence of investment but is unlikely to result in meaningful federal MJ policy reform, predicts Marijuana Business Daily CEO Chris Walsh.
A new chair of the U.S. Senate Banking Committee could pump fresh life into stalled cannabis banking reform – even if Republicans maintain control of the upper chamber when the next Congress convenes in January.
The incoming administration of President-elect Joe Biden has major ramifications for marijuana businesses – ranging from possible banking access to a less hostile Department of Justice or perhaps new federal memos that make it easier for state-legal MJ companies to operate.
Marijuana Business Daily reporters and editors are providing live coverage of the 2020 general election, focusing on legalization ballot measures in five states as well as key federal races that could affect MJ reform.
The marijuana industry appeared headed for a clean sweep on Election Day, with voters approving new markets in Arizona, Mississippi, Montana, New Jersey and South Dakota that could generate more than $2.5 billion in medical and recreational cannabis sales a year by 2024.
