In a wide-ranging letter to members of Congress, Colorado Attorney General Phil Weiser warned there could be “potential resulting disruption” to the existing state-legal marijuana markets if federal legalization isn’t structured carefully. In particular, Weiser singled out the suggested 25% national marijuana tax rate included in Senate Majority Leader Chuck Schumer’s recently introduced bill.
Federal agents have been scrutinizing the Nevada cannabis licensing process to determine if any corruption was involved in the awarding of business permits. According to the Las Vegas Review-Journal, FBI agents have been speaking with Nevada marijuana industry executives for at least a year. The investigation is focused on potential “pay-to-play” situations that might have The Idaho Supreme Court overturned a new law that would have made it harder for independent campaigns to get their own ballot measures before voters, including a potential medical marijuana legalization question. According to the Associated Press, the state’s high court rejected the law and found that it undermined the rights of Idaho voters. 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increased dramatically in recent weeks, reaching almost three-quarters of the municipalities in the state. According to the USA Today Network, roughly 71% of New Jersey towns – about 400 of them – have approved local ordinances that ban adult-use marijuana businesses. Another lawsuit has been filed against the state of Illinois over its cannabis licensing process, this time by two companies that claim they were “forced” to relinquish lottery spots for retail permits by a state agency. 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Chicago-based cannabis multistate operator PharmaCann reportedly intends to go public in the fall with an initial stock offering that could be valued at more than $1 billion. PharmaCann, which has operations in six states in the eastern half of the U.S., has “confidentially” started the paperwork with securities regulators for an IPO with a likely. 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Legal Marijuana News and Information Legal Marijuana News and Information Legal Marijuana News and Information Legal Marijuana News and Information Legal Marijuana News and Information Marijuana multistate operator Trulieve Cannabis distanced itself from the conviction of CEO Kim Rivers’ husband on five public corruption charges connected to his real estate development business. “We have consistently maintained that neither Trulieve nor our CEO are involved in the case,” Trulieve said in a Twitter post in response to J.T. Burnette’s conviction. Canadian cannabis cultivator Bonify Holdings Corp. is shutting down, 2½ years after its sales license was suspended because the company sold illegally sourced marijuana into the regulated market. Another Canadian company, CannTrust, is currently restructuring after violating federal cannabis regulations. The impending closure of Winnipeg, Manitoba-based Bonify was announced in an Aug. 12 email.