Safe Banking joins the defense budget. What it means for weed.
On Weed Talk News this week, the US House attaches Safe Banking to next years defense budget, is this the strategy that can open up the banking industry to the cannabis industry? Cresco Labs makes another medical dispensary acquisition and this time it's in Pennsylvania. New Jersey misses a deadline to start taking legal license applications. A former Fall River Mayor gets sentenced to six years in jail for a weed license for sale bribery scam while in office. A celebration of cannabis in Boston, the Freedom Rally morphs from an act of civil disobedience to a party of the Boston Common. State by state reports from Michigan, Vermont, New York, California, and Massachusetts.
September 24, 2021
This Week on Weed Talk News
All is quiet in the US senate on the cannabis reform front, but not in the house where the safe banking bill gets passed again, this time attached to the defense budget…so now what? plus…a former mayor from massachusetts gets sentenced to jail for bribery in a pay for a weed license scam…and the 31st annual freedom rally in boston celebrates legalization and open consumption of cannabis… sot keith saunders and cresco labs acquires 3 pennsylvania medical dispensaries for 90 million dollars on weed talk news next…
Hi everyone welcome to weed talk news for this week. I'm Jimmy Young from pro cannabis media. Have you told us your cannabis story yet? Come one, log onto our website, and come out of the cannabis closet, you could win a state of the art cannabis container system from yourstori.com. Just go onto our website and tell us what role cannabis has played in your life…our top story this week comes from our nation’s capital. everytime we interview Michael Cucerirea, the director of government relations from the ncia, he always talks about the low hanging fruit that is the safe banking act. it’s passed the house three times before going nowhere in the senate. Now it’s passed a house committee again but this time it’s attached to the defense budget bill for 2022. This is how politics works in washington dc. Even though the official safe banking bill passed the house in april 2021, 321-101, it never even made it to a senate committee…now pro cannabis reformers are attaching safe banking to the annual military defense budget bill that should at least get a hearing in the senate. We'll get the latest from the ncia tomorrow at 4pm est on green rush live as we talk to morgan fox the director of communication for the NCIA. next up, what’s going on with weed on wall street, with debra borchardt of the green market report.
Green Market Report With Debra Borchardt
If you follow cannabis reform around the country like we do here on weed talk news, you know that oklahoma has become a major player in the medicinal marketplace with over 86 hundred grow licenses issued and over 2 thousand dispensaries open.now a group of law enforcement and agriculture groups from that state sent a letter to the oklahoma state regulators asking for a moratorium on granting anymore growing licenses in that state. Right now, there are more growers of cannabis in Oklahoma than any other crop. Next week we will be introducing you to a new canna caster correspondent who lives in Oklahoma by the name of Deon osburn. he covers the cannabis beat for the black wall street times. continuing to cover michigan for us is rick thompson, the executive director of norml, and here’s his michigan report for this week.
The Michigan Report
This weekend was the deadline for the state of New Jersey to be ready to handle the first wave of cannabis licenses, but now it looks like they will not be ready to start the first step in their legal adult use market. The garden state has already ruled out most of the popular categories of edibles including brownies, cookies, and gummies are out, but lozenges are in. now that state will delay the acceptance of licenses for a few days. Once again this shows that even in states where voters overwhelmingly approved the legalization of adult use of cannabis, the process of opening the market is always a slow process, unless of course you do it like Arizona did, and grant adult use licenses to already existing medical dispensary license holders.
Just north of New Jersey, there’s a state called New York that also voted in its adult use program, but they too are slowly ramping up their program. now at least there's a regulatory board to start to call the shots. chrisitina degiovanni from the emerald media group has the latest from the empire state…
Emerald Media Group
Every summer most states hold an official fair with all sorts of agricultural contests for best pies, livestock, and now in california, best weed. that’s right, details are still being worked out on whether the legacy market will be able to enter, but it looks like california’s state fair will be the first state in the union to give out an award for best cannabis…with the rest of the news from planet california here’s the american cannabis reports’ christopher smith…chris….
American Cannabis Report
In Illinois, one of the largest multi state operators that is based in that state is Cresco labs. They have 10 dispensaries in that state alone. They are now expanding their already existing footprint in Pennsylvania with the acquisition of three more medical dispensaries in that state for 90 million dollars. Cresco has acquired cure’s three dispensaries that combined with 4 more that they already own, now has 7 in pennsylvania. with the rest of the news from the Illinois market here’s Margo veseley.
Illinois Cannabis Report
In two weeks, the Vermont cannabis control board will report to the legislature there a plan for how and when licenses for the new adult use market will be awarded. In the meantime, our green nurse in Vermont Jessilyn Dolan is always busy making sure her state does the right thing for patients and growers and alike…here’s jessilyns vermont cannabis report for this week.
Vermont Cannabis Report
In Massachusetts next week, one of the most informative informational conferences of the year is back. It's the fifth annual Burns and Levinson annual state of the cannabis industry conference in waltham. It's all day even with interviews with state regulators like the commissioner Stephen Hoffman himself and it’s held all day long in Waltham, a suburb of Boston from 9 to 5. you can find out more on the burns and levinson law firm website. pro cannabis media will be there, and there will be an announcement at that event that should shake up the cannabis industry. Frank Segall from Burns and Levinson will be our guest on green rush live at 4pm est on the pro cannabis media OTT network of distribution platforms.