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The Week in Weed: October 25, 2019

The Blunt Truth

The 2019 edition of the Hemp and CBD Industry Factbook released figures that show retail sales of CBD topping $1 billion this year, and predicted that number could hit $10 billion by 2024. Cannabis research was also a big topic. Hemp was in the news quite a bit this week.

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California Awards $12 Million In Local Cannabis Equity Grants To Repair Drug War Harms

Canna Law Blog

However, with social equity becoming a prominent topic in the cannabis industry, California officials have started investing significantly in social equity policies. Proposition 64, passed a few years later, lacked any discussion addressing the damage caused by past policies.

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Thoughts on THCA, Interstate Sales…. and Oregon

Canna Law Blog

Griffen’s article is just one of many parsing the language of the 2018 Farm Bill and a 2023 DEA letter on the topic. When Oregon adopted that standard in 2019, it seemed to fly under the radar, though we did our best to publicize it here on the blog. Oregon was the first state to sign a marijuana export bill back in 2019.

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Oregon Cannabis 2023: Legislative Forecast and Report

Canna Law Blog

The new regime would commence January 1, 2024. After that, the bill provides that OLCC has to submit a report including any legislative recommendations by September 15, 2024. HB 2019 – Marijuana tax transfer. And then submit a report on itself, including any legislative recommendations, by September 15, 2024.

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Cannabis Banking Today

Canna Law Blog

We have also handled a good bit of hemp banking work – mostly in 2019 and 2020 before that industry cratered. It’s also not defined in the 2020 National Credit Union Administration Guidance on banking hemp-related business (“HRB”s) (which we helped create) or the 2020 FinCEN Guidance on that related topic.

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Utah Cannabis: State of the State

Canna Law Blog

Overall, 2019 was a banner year for Utah’s cannabis marketplaces as it ramped up for 2020. Here’s the overview on 2019 and looking forward in 2020. On September 16, 2019, the Utah Senate passed SB1002, which amended the Utah Medical Cannabis Act. Medical Cannabis. You can see the pharmacy map here. What’s Turning Heads?

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Officials in Nigeria Discuss Opposition to Cannabis Legalization

SpeedWeed

A Channels Television video shows Marwa speaking for 30 minutes about the topic in June, sharing facts about drugs and drug trafficking in the country. Tell Nigerians that in 2019, the global market was put at 52.8 billion dollars by 2024,” he said, according to the Nigerian Tribute. Opposition of Cannabis in Nigeria Has Roots.