Weed Talk News - Cannabis Industry News

More Steps Forward for Weed Legalization With The SAFE Banking Act

On Weed Talk News this week, the US House of Representatives prepares to once again pass the SAFE Banking act, could it be the first step towards cannabis reform? The state of New York is getting closer to legalization of cannabis, while their Governor Andrew Cuomo ducks sexual harassment charges. Don't you wish you thought of online ordering for weed like Dutchie does? That company is now valued at close to 2 Billion dollars. Reports on Cannabis from Coast to Coast including Michigan, Vermont, New Jersey, NY, DC, and of course Canada on Weed Talk News with Jimmy Young from Pro Cannabis Media.

Published

March 19, 2021

US House of Representatives prepares to pass the SAFE Banking act, could it be the first step towards cannabis reform?

I’m Jimmy Young from Pro Cannabis Media. It looks like the first test on cannabis reform for congress will be focused on safe banking. Three times in the past, the US House of Representative has approved the SAFE banking bill, but it never made it to the US Senate floor. As we know the party makeup of that senate has changed with the democrats holding a slim one-vote majority. This Secure and Fair Enforcement banking act passed by a whopping 321 to 103 vote in September 2019 but stalled in the senate and was completely ignored by the then republican senate, and the impact of the pandemic…. New York state politics has been consumed by the rash of accusations of sexual harassment by their governor Andrew Cuomo.


So far he continues to thwart any moves for impeachment or resignation. In the meantime his legislature is getting closer to passing a legalization bill. Quotes from new york state leaders include “we’ve gotten to an agreement on hundreds of issues. We are very close, in fact extremely close. The last item that legislators are talking about is the clause related to impaired driving. This could be passed before the end of this week.


So have you ever ordered cannabis on line from a dispensary?  If you said yes, than you know of Dutchie. In fact there are over 2 thousand dispensaries using it. If you were to venture a guess at the valuation of that platform, you would have to go north of 1 billion. Now they announced they raised another 200 million dollars to boost their valuation at 1.7billion. Amazing that they are only in 36 markets with those 2000 plus dispensaries…Dutchie is a giant company in this industry that really benefitted from the essential classification of cannabis during the pandemic.


Minnesota is looking at ways to modernize their existing medical program that has been in place for the past five years. That law bans the use of flower for medicinal purposes meaning patients are limited to buy more expensive concentrates. So now they are easing those restrictions, adding opioid addiction to one of the nine medical conditions that qualify you for a card. There is also an adult use. Legalization on their state house floor as more and more states are using the existing legislative process for cannabis reform. Good news for our friends in South Dakota. The medicinal cannabis program can now move forward to launch on July 1st of 2021. State Senators there tried to block and delay the law that was passed by an overwhelming ballot box initiative in November of 2020. Close to 70 percent of the voters in South Dakota voted to open a medicinal program despite the objections from their governor.


The news is not so good in New Mexico where their governor Michelle Grisham is in favor of cannabis legalization but the legislators there are split over all the same old issues of taxation, expungement of records, and licensing. The final bill might go to a vote on the senate floor within a week but advocates there are not confident.


Now let’s talk about the word “stoner”. That sets off all sorts of images of people who manage to let this plant take over their lives. It feeds the prohibitionists out there who think everyone who uses cannabis just sits around all day on the couch entertained by watching paint dry. Well now there is research to refute that stereotype. Researchers looked at cannabis user data conducted by the national longitudinal study of adolescent to adult health. They concluded that cannabis use was not associated with a negative impact on exercise frequency. This supports the anecdotal evidence of many who use or have used cannabis during exercise, or competitions.


I’ve personally interviewed former nfl players who while battling injuries used it during games as well as for recovery after games.  Now you see lots of yoga professionals incorporating cannabis use into their classes, and more and more professional athletes are investing in the cannabis industry because they’ve learned of the benefits to their wellness pursuit after or during their careers.


One guy is UFC fighter Elias Theodorou.  He’s the Canadian champion of the ultimate fighter series and now he’s approved to use medicinal cannabis by the British Colombia Athletic Commission.  He was prescribed opioids first for his bilateral neuropathy, but found more relief from pain and recovery from cannabis.


Finally tonight shots for pot. That’s right get your covid shots in Arizona and you might get an edible to go. The mint locations in Arizona are offering a free edible if you show your proof of vaccination card or receipt. Arizona is not alone in this gifting incentive, Washington DC, and the greenhouse dispensary in Michigan also offer free pre rolls after you roll up your sleeve…so lets get out there and get our roll up your sleeve…so lets get out there and get our shots…for covid or pot! That’s weed talk news for this week…I’m Jimmy Young remember it’s a whole new world of weed out there…use it responsibly.