Another American detained for cannabis in Russia

FROM RUSSIA
Another American detained (and released) for possession of cannabinoids 

Driving the news: Just days after the release of American schoolteacher Marc Fogel from  Russian prison for alleged cannabis possession, another American, Kalob Wayne Byers, was detained last week for CBD gummies, and then released yesterday. 

Back up: The Trump Administration touted the release of Marc Fogel as proof that he is turning over a new diplomatic leaf in his strategy for dealing with President Vladimir Putin. 

The new detention-then-release comes on the Biden-era negotiated release of journalist — and friend of our Editor-in-Chief — Evan Gershkovich. And earlier in the Biden Administration, the release of WNBA star Brittney Griner for alleged possession of a vape pen in Russia.

The latest: The latest detention in Russia of an American related to alleged cannabis use seems to be a trend and a way for Russia to gain attention and then concessions from the US. 

We also would point out the hypocrisy that the Trump Administration worked to free Fogel, but has not yet taken any significant action on federal cannabis reform in the US. 

And more: Brittney Griner was meant to speak at a cannabis conference yesterday in Maryland, but found something in her hotel room that she found threatening, and declined to speak. 

She found duct tape in her hotel room that read: “Gay Baby Jail.” 

The takeaway: Be very careful when to travel to and through Russia these days. The geopolitical landscape is not your friend. We’re glad to see Byers returned to the US.

-JR

Former Navy Seal Robert O’Neill, most well-known as the guy who killed Osama Bin Laden, is launching a cannabis brand and shared his reasoning with the New York Post: 

“I wanted to get into the cannabis business through my experience in the military and watching vets suffer from things like post-traumatic stress disorder…It’s a good way to take the edge off. It helps to get rid of the noise…” 

NY launches Trade Practices Bureau for cannabis industry 🔬

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The World Wrestling Entertainment has taken cannabis off their banned substances list. Turns out, some wrestlers would like to join your sesh… and that’s ok with WWE management now. More from WrestleZone, one of Jeremy’s daily reads.

Could Switzerland be next? ⛰️

If you had Switzerland on your “who will legalize next” BINGO card, you might be right. Bloomberg dives into the Swiss moves toward legalization. 

The parent company of CCELL sued in federal court 🧑‍⚖️

Shenzhen Smoore Technology Co. Ltd. was hit with a possible class action lawsuit alleging “price fixing, market monopolization, and anti-competive practices…” according to a story in Beard Bros. 

California’s # of inactive licenses > active licenses 🌁

From the ‘tough pill to swallow’ file, SFGate reports that the number of inactive cannabis licenses in California outnumber active licenses. 10,828 inactive > 8,514 active.

Chicago Atlantic closes $100M Senior Secured Revolving Credit Facility 💰

Chicago Atlantic BDC, Inc., which touts itself as “the only publicly traded BDC primarily focused on the U.S. cannabis industry,”  announced that they secured a $100 million credit facility.

Cookies x Green Monké Drinks collab launches 🍹

If you’re in California, you can now check out Cookies California Iced Tea with 100 mg of THC — a collab with Green Monké Drinks.

Ron Gershoni, co-founder of Jetty Extracts, announced on LinkedIn that Annie Davis was joining Jetty as SVP of Marketing.

Bret Kravitz, General Counsel at Green Thumb Industries, shared on LinkedIn that GTI is hiring for Regulatory Counsel, Regulatory Compliance position.

Care of New York cannabis attorney Jeffrey Hoffman, the Office of Cannabis Management shared details on the average sales per store data in New York. As more stores open in New York, sales per store are flat (or down). 

How States Tax Adult Use Cannabis and Spend Resulting Revenue | Moritz College of Law, The Ohio State University