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Medical cannabis helps alleviate cancer-related symptoms 🌿

Plus, Idaho pushes back on legalization

Good morning.

Well yesterday was a pretty wild day of trading for those of you watching cannabis stocks. Canopy Growth closed up over 16%. Never a dull moment.

Today, Jay and Jeremy will be chatting with Rubicon Organics CEO Margaret Brodie about international cannabis, the Canadian market, and more. Tune in at 10 AM on our LinkedIn page

Let’s get to it. 

-JB, JR, and ZH

This newsletter is 617 words or about a 5.5-minute read. 

📣 Quotable

“This year in particular, we’re playing defense a lot more than we have in the past,” Morgan Fox, political director at the advocacy group National Organization for the Reform of Marijuana Laws, or NORML, told The Chronicle, of slowed momentum at the state and federal level for cannabis reform.

🥊 Quick hits

Legalization no longer inevitable in Idaho? 🥔

Despite being surrounded by well-established legal states, opposition to legal cannabis remains strong in Idaho where a proposed bill could prohibit voters from legalizing cannabis through the ballot box. A separate bill would enact a mandatory minimum fine of $300 for possession. Here’s some interesting further reading on the ‘Red Wall’ of cannabis legalization

Gotham sues New York’s OCM over labor peace agreements 🧑‍⚖️

New York City cannabis shop Gotham filed a lawsuit against the state’s Office of Cannabis Management seeking to overturn a provision in New York’s cannabis law called a “labor peace agreement” that ensures the company stays neutral if employees want to unionize. The complaint says New York’s requirement is unconstitutional. Gotham employees voted to join a union on April 1, per MJBiz. Cannabis companies in Oregon recently challenged labor peace agreements as well. 

Pennsylvania Reps. call for bipartisan support for legalization 🔈

Reps. Emily Kinkead (D) and Abby Major (R) called upon their fellow legislators to sign onto an upcoming bill to legalize adult-use cannabis in the Keystone State. The legislature failed to pass a legalization bill last fall, but the issue has remained a priority for Governor Josh Shapiro. 

Illinois Social Equity operators speak out against unregulated hemp 😡

Cannabis operators who gained licenses under Illinois' social equity licensing program called for more regulations for the state's hemp industry during an April 15 press conference in Chicago. The licensed operators argue that hemp shops have an unfair advantage due to the lack of permitting requirements and restrictions on window advertisements.

Florida House considers hemp limit and 15% excise tax 💸

The Florida State House's Budget Committee advanced bills that would ban the sale of hemp products in convenience stores, while also levying a 15% excise tax. A previous version of the proposed tax was as high as 60% on edible goods and $2.25 per gallon on beverages.

🧪 Science & research

Medical cannabis can help alleviate cancer-related symptoms 🔬

A meta analysis of over 10,000 peer-reviewed studies showed a strong 3-to-1 ratio of consensus that medical cannabis can help alleviate cancer-related symptoms. “We expected controversy. What we found was overwhelming scientific consensus,” said Ryan Castle, Head of Research at Whole Health Oncology Institute.

Study shows younger consumers prefer vapes over edibles🛢️

Although 80% of cannabis consumers smoke flower, their preferred second choice differs by age group, according to a CDC study. Consumers 25 and older are more likely to choose an edible, while those younger than 25 prefer vapes. 

📊 Stat of the day

Fifty-seven percent of Canadians say that the cannabis industry is important to their national economy. Even more, 64% would welcome government assistance in growing the industry.

The study was conducted by Abacus Data and commissioned by Organigram Global, a Canadian cannabis firm.

😜 One fun thing

Check out NBA star Carmelo Anthony’s STAYME7O New York launch:

🗞️ What we’re reading

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