Top Cannabis Investment News, Member Posts, Cannabis Investment Daily Indices and more!

1mo ago Cannabis blunttruthlaw Views: 38

Welcome back to The Week in Weed, your Friday look at what’s happening in the world of legalized marijuana.

Things don’t look good for medical marijuana in South Carolina.  Missouri advocates turn in signatures for their ballot initiative. Delaware gets closer to legalizing cannabis.  We have an update on federal legislation.  And finally, Senate candidates smoking week in ads is not limited to Louisiana.

south carolina

To legalize cannabis, it’s not enough to get the substance right; you also have to follow the rules.  We’ve seen this in South Dakota, where the adult-use ballot initiative was thrown out because it covered more than one subject.  Now, we’re seeing something similar in South Carolina.  As we reported last month, the state Senate passed a law creating a market for medical marijuana.  The bill looked as if it had a chance of passage in the House, but that’s now gone up in smoke.  The Speaker of the House of Representatives ruled the bill unconstitutional, and an appeal was tabled.  The legislative session ends this week, so further action looks unlikely.

missouri

Legalization advocates in Missouri have gathered twice the number of signatures needed to put a cannabis initiative on the November ballot.  Assuming the Secretary of State validates enough of those signatures, approximately 45%, the measure will go on the ballot.  There is some resistance from those who believe the measure gives too much power to those already in the industry, so getting on the ballot doesn’t necessarily mean legalization.  Stay tuned!

delaware

Late last week, the Delaware House passed an adult-use legalization bill.  A Senate committee did the same this week, so the measure will move to the floor for a full Senate vote.  Note that the Governor has doubts about legalization, so a veto could be coming.  Plus, this bill only legalizes; it doesn’t set up a market – that requires a 3/5 vote, as it would create a new tax.  A bill to do that is on its way to the House floor.  Color this doubtful.

competes act

Momentum continues to build for including a cannabis banking provision in the COMPETES Act.  Sadly, it’s violence at dispensaries that’s responsible.  As Washington State Treasurer Mike Pellicciotti said in an interview. “Robbers go where the cash is.”  Again, don’t get your hopes up!  As we noted last week, this is a long way from done.

and finally

Regular readers will doubtless recall that a U.S. Senate candidate from Louisiana lit up a blunt in a campaign ad.  We thought this would be a unique event, but no such thing.  Tom McDermott (D), who’s running for the Senate from Indiana, also lights up in an ad.

Stay safe and be well everyone – we’ll see you next week!


Today's Cannabis Investment Headlines:

Log In for More
Access Over 250K+ Industry Headlines, Posts and Updates
Not a member yet?

Join AlphaMaven

The Premier Alternative Investment
Research and Due Diligence Platform for Investors

Free Membership for Qualified Investors and Industry Participants
  • Easily Customize Content to Match Your Investment Preferences
  • Breaking News 24/7/365
  • Daily Newsletter & Indices
  • Alternative Investment Listings & LeaderBoards
  • Industry Research, Due Diligence, Videos, Webinars, Events, Press Releases, Market Commentary, Newsletters, Fact Sheets, Presentations, Investment Mandates, Video PitchBooks & More!
  • Company Directory
  • Contact Directory
  • Member Posts & Publications
  • Alpha University Video Series to Expand Investor Knowledge
  • AUM Accelerator Program (designed for investment managers)
  • Over 450K+ Industry Headlines, Posts and Updates
ALL ALPHAMAVEN CONTENT IS FOR INFORMATIONAL PURPOSES ONLY. CONTENT POSTED BY MEMBERS DOES NOT NECESSARILY REFLECT THE OPINION OR BELIEFS OF ALPHAMAVEN AND HAS NOT ALWAYS BEEN INDEPENDENTLY VERIFIED BY ALPHAMAVEN. PAST PERFORMANCE IS NOT INDICATIVE OF FUTURE RESULTS. THIS IS NOT A SOLICITATION FOR INVESTMENT. THE MATERIAL PROVIDED HEREIN IS FOR INFORMATIONAL PURPOSES ONLY. IT DOES NOT CONSTITUTE AN OFFER TO SELL OR A SOLICITATION OF AN OFFER TO BUY ANY INTERESTS OF ANY FUND OR ANY OTHER SECURITIES. ANY SUCH OFFERINGS CAN BE MADE ONLY IN ACCORDANCE WITH THE TERMS AND CONDITIONS SET FORTH IN THE INVESTMENT'S PRIVATE PLACEMENT MEMORANDUM. PRIOR TO INVESTING, INVESTORS ARE STRONGLY URGED TO REVIEW CAREFULLY THE PRIVATE PLACEMENT MEMORANDUM (INCLUDING THE RISK FACTORS DESCRIBED THEREIN), THE LIMITED PARTNERSHIP AGREEMENT AND THE SUBSCRIPTION DOCUMENTS, TO ASK SUCH QUESTIONS OF THE INVESTMENT MANAGER AS THEY DEEM APPROPRIATE, AND TO DISCUSS ANY PROSPECTIVE INVESTMENT IN THE FUND WITH THEIR LEGAL AND TAX ADVISERS IN ORDER TO MAKE AN INDEPENDENT DETERMINATION OF THE SUITABILITY AND CONSEQUENCES OF AN INVESTMENT.