Marijuana News Today – July 15, 2024

Welcome to Cannabis News Today, a roundup of the latest news on cannabis industry action and regulations.

Washington’s Marijuana Law Update with Eric Berlin

Eric Berlin, a leading cannabis attorney at Dentons, discussed recent developments in D.C. cannabis regulation, highlighting the actions of the House Appropriations Committee and the need for industry support from key lawmakers like David Joyce. Berlin emphasized the importance of legal stability for business operations and the potential impact of upcoming postponement decisions. Read more about this on the TDR website!

How US MSOs Handle Marijuana in terms of Inventory Turnover

Days Inventory Outstanding (DIO) is a key metric for assessing inventory management efficiency among U.S. cannabis MSOs. DIO measures the average number of days it takes to sell all inventory, with lower DIO indicating better operational efficiency and cash flow management. This metric helps investors assess a company’s performance and anticipate potential issues, such as excess inventory, which has plagued Canadian cannabis companies. Read more about this on the TDR website!

C21 Investments Provides MCTO Status Update

C21 Investments (CSE: CXXI, OTCQX: CXXIF) has published an update on its Management Cease Trade Order (MCTO) status. The company is actively working to meet compliance requirements and intends to resolve the issues promptly.

New York Recalls Edibles Added THC

New York State has announced a recall of certain THC-infused edibles produced under the “Sky High Eat By Sky High” brand. The recall was initiated due to health and safety concerns after a potential contamination was discovered.

Cannabis CEOs Pledge Millions to Florida Republican Party

Newly released texts show that top cannabis industry executives have pledged millions of dollars in donations to the Florida Republican Party, a move aimed at swaying state policy in favor of the hemp and marijuana sector.

Illinois Lottery Winners Keep Their Licenses

Illinois marijuana license lottery winners have managed to keep their licenses amid regulatory scrutiny, a decision that ensures the state’s marijuana market remains competitive and diverse, according to Crains Chicago.

Missouri distributes funds to cannabis program beneficiaries

Missouri has successfully distributed funds to beneficiaries of its adult-use marijuana program. This funding decision supports the continued growth and sustainability of marijuana initiatives in the state.

New York closes 535 illegal dispensaries, seizes $17.5 million in marijuana

“Unlicensed dispensaries are littering New York City neighborhoods, brazenly circumventing our laws and selling potentially dangerous products,” Gov. Hochul thundered in April when the law was passed. In just two months, the city has padlocked 535 illegal dispensaries, seized $17.5 million worth of cannabis products and levied more than $43 million in civil penalties, according to the NY Post.

New Hampshire Governor Expands Medical Marijuana Eligibility

New Hampshire governor signs bill adding anxiety as qualifying condition for medical marijuana. But vetoed proposed changes to commercial cultivation regulations, keeping current standards.