“Backdoor” Sales In Oklahoma Prompt New Bill Approval
- The Oklahoma House of Representatives have passed Senate Bill 645, which requires the prepackaging of all medical marijuana products sold to dispensaries. Opponents claim the bill is onerous and too lax. The legislation aims to improve product consistency and tracking to prevent illegal "backdoor" sales from dispensaries.
Louisiana Legislative Audit Reveals Over-Limit THC Products
- Louisiana House Speaker Clay Schexnayder introduced House Bill 605 to amend the current hemp law. The Louisiana Legislative Auditor found 36 registered consumable hemp products approved by the DOH were prohibited and 198 edible products surpassed the 8 mg THC limit.
US Hemp Production Cut In Half In 2022
- Hemp fields harvested in the US dropped almost 50% in 2022 to just 18,251 acres, according to data from the USDA. The value of the crop in the country dropped 71% in 2022 to $238 million from $824 million in 2021.
- The decline was sharpest for seeds used for hemp oil production, which dropped 92%.
- California and Colorado experienced the biggest declines. The hemp industry's decline was fueled by the collapse of the CBD market, but growth in South Dakota, Oregon, and Missouri provided some positive developments.
Cannabis Convictions In Texas May Soon Be Expunged
- The Texas House of Representatives will vote on a bill to decriminalize possession of marijuana and expunge cannabis conviction records. The measure removes the risk of arrest or jail time for low-level possession of cannabis.
- The bill also specifies that possession of up to two ounces of cannabis would not result in an arrest. The bill is expected to advance to the Senate.
Alabama Advocates Disappointed By Lawmaker Response
- The Alabama Cannabis Coalition gathered at the state house to advocate for the decriminalization of marijuana and two bills aimed at preventing people from going to prison for possessing cannabis. However, both House and Senate leadership have stated that the bills will not be considered and that they should focus on the state's new medical cannabis program.
Access To Medical Cannabis In Canada Hindered By Cost
- High costs are a significant barrier for patients seeking medical cannabis in Canada. Few respondents had their medical cannabis covered by employee benefit plans, with only 6% successfully reimbursed.
- The cost of medical cannabis was the most common reason for stopping use by 3.5% of respondents. Despite these challenges, the majority of respondents supported the continuation of the medical cannabis program in Canada.
Could Finland Legalize Cannabis?
- Citizen's initiative for legalizing cannabis in Finland gains 50,000 signatures. The initiative aims to define the difference between cannabis flowers and industrial hemp. A previous initiative to decriminalize cannabis was rejected in April 2022.
German Legalization Plan: Frankfurt, Offenbach At The Forefront
- Germany's first phase of cannabis legalization: personal possession, use, cultivation, and noncommercial cannabis clubs. Phase two includes launching localized adult-use cannabis commerce pilot projects for regulatory research and public policy development purposes
- The municipalities of Frankfurt and Offenbach intend to pursue pilot programs to combat the unregulated market. Germany's Health Minister is lobbying the EU for wider reforms, making it a third phase for German legalization.
Photo by Juliana Kozoski on Unsplash.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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