GOP + THC = ?

Plus, a Florida campaign strain

Friday, August 2, 2024

Good morning.

We’re winding down the week, but also lamenting the pace of summer’s passage. 

-JB & JR

This newsletter is 890 words or about an 6-minute read.

💡What’s the big deal?

GOP + THC
Republicans trying to find their way on cannabis legalization

Catching up: Over the past several months, we’ve been witness to cannabis politics playing out before our own eyes. Since President Joe Biden’s State of the Union, when he mentioned cannabis reform, hardly a week goes by when the intersection of cannabis and politics doesn’t make national news.

It’s a ‘no’ from Republican Governors: But not all news has been good news on the political front:

Earlier this year, Virginia Gov. Glenn Youngkin vetoed a bill that would have legalized cannabis. 

New Hampshire Gov. Chris Sununu threatened a veto of a cannabis legalization plan, effectively killing the legislation. 

And then, of course, there’s Florida’s Ron DeSantis, who is actively opposing Florida’s legalization push — and raising money from the hemp industry to help do it.

It’s not just Governors: The DEA’s public comment period on rescheduling, which ended last week, also included considerable Republican opposition, including comments from eleven Republican Attorneys General as well as a letter from 25 Republicans from both the House and Senate voicing opposition. 

But, but, but: We learned this week that at least one Republican is bucking the trend very visibly in Florida. 

Florida State Senator Joe Gruters wrote in the Sarasota Herald-Tribune:  “This November, we have a unique opportunity to protect our individual liberty by supporting Amendment 3, which would legalize recreational marijuana for adults in our state,” he continued. “This amendment is about personal freedom – but it is also about creating a safer, more-regulated recreational marijuana market and generating much-needed revenue for critical public services like our law enforcement.” 

What’s next? Expect the cannabis issue to be even more front-and-center as we sprint toward November’s election. 

Especially telling is that Republicans are trying to get closer to voters on this issue. This week we saw former President Donald Trump try to steal some cannabis thunder from Democrats by misrepresenting Vice President Kamala Harris’ record as a California prosecutor when it comes to cannabis. 

All of the top-tier Vice Presidential possible picks are either from legal states (Kelly/Arizona, Walz/Minnesota) or support legalization (Shapiro/Pennsylvania, Bashear/Kentucky).  

Plus, we fully expect for cannabis to be part of the Democratic National Convention in a few weeks.

-JR

💬 Quotable

On Wednesday, Wana Brands President Joe Hodas joined Cultivated Live for a wide-ranging conversation about how to build and sustain Wana’s position as a leading edibles’ brand.

When asked how he prepares for federal reform, including rescheduling, a new Farm Bill, or legalization, he shared his thoughts: 

“Well, we're aware. We watch what's going on in the markets, but we also have to focus on today and what's available today and how we operate today. Because if I was to invest too much into:  What happens after rescheduling? Are we going to eventually have legalization? What happens with the Farm Bill? I would get stuck.”

FROM THE OUTLAW REPORT*
Beleaguered D.C. market sees rise in patients but not in sales

What happened: June continues to cast a dark shadow on the D.C. medical market sales, according to a newly released program report. Overall program sales fell by more than 13% compared to June 2023. This is despite a more than 30% increase in registered patients and over 6% increase in patients served.

Why it matters: D.C.’s medical market expansion is going through difficulties as new manufacturers and cultivators struggle to open and the District’s enforcement against I-71 operators is slow to grow teeth. 

June 2023 was the last month of sales before Maryland’s adult-use market opened, and sales have fallen significantly since then despite the medical program expansion. Maryland’s non-medical market and D.C.’s I-71 market continue to bleed sales from the medical dispensaries in the city.

Dive deeper: Read and subscribe to our partners at The Outlaw Report.

*Each week, Cultivated will bring you the most important and timely stories from Maryland, D.C., and Virginia in partnership with The Outlaw Report.

🥊 Quick hits

Police & Sheriffs join DeSantis on Amendment 3 🙈

The Florida Police Chiefs Association and the Florida Sheriffs Association have come down on the no side Amendment 3. (Quick reminder that the latest polling has Amendment 3 polling at around 64% support.) Read more.

🤝 Deals, launches, partnerships

Green Thumb Industries is opening a RISE-brand dispensary in East Syracuse, New York – just in time for the New York State Fair to descend into Central New York.

😜 One fun thing

It’s one thing to write big checks to the Yes on Amendment 3 campaign in Florida, but Trulieve is doing something that few others could do: Launching a Yes on 3 product to support the campaign and drive awareness.

Called “Yo3” – the launch is a collaboration between Trulieve and Sunshine Cannabis. Read more.

🔬 Science & research

A study by researchers from Washington State and UCLA published in Scientific Reports dives into the effects of CBG. Key findings include that CBG can improve memory while reducing stress and anxiety.

📰 What we’re reading

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