Trump’s support didn’t mean much for legalization in Florida

“We have to be really careful about making sweeping generalizations about drug policy based on these results,” Drug policy expert Beau Kilmer, of RAND, told The New York Times. “You have to look at what happened in each place.”

Read the whole story. 

California cannabis illegal under federal law 🌿

A California judge ruled that cannabis cultivation and transportation are illegal in the state as long as they remain illegal under federal law, in a case with potentially far-reaching implications for the state-federal conflict on cannabis laws. Read more.

Researcher sues DEA 👀

A psychedelics researcher is suing the DEA, asking the agency to delay the upcoming December 2 hearing to move cannabis to a lower classification of the federal Controlled Substances Act. The researcher alleges that the federal agency violated multiple federal laws in scheduling the upcoming hearing. The researcher, the CEO of Panacaea Plant Sciences, wasn’t selected to be a witness at the hearing. Read more. 

Florida Republicans may propose cannabis legislation 🦩

Florida rejected Amendment 3, which would’ve legalized cannabis in the state, despite a majority of voters supporting the measure. Some state Republicans are weighing whether to propose cannabis reform legislation, like legalizing growing at home and personal consumption, or even working on broader legalization bills — though it’s unlikely the party’s leadership will support that. Read more. 

States crack down on intoxicating hemp 🥊 

An Ohio lawmaker proposed legislation to ban intoxicating hemp in the state, reports Cannabis Business Times. And New Jersey’s cannabis regulatory agency said on Friday that it plans to enforce a ban on intoxicating hemp sales.

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Cannabis earnings season continues. Here’s what you missed: 

• Cresco Labs reported a $7.7 million net loss on $179 million of revenue, down $190 million sequentially. The company said it generated its highest-ever cash flow of $103 million.

• Canopy Growth reported a $131.6 million (CAD) net loss on $63 million of revenue, down 9% sequentially. 

• Planet 13 reported a $7.4 million net loss on $32.2 million of revenue. 

• Auxly reported $3.2 million in profit on $33.3 million of revenue, up 18% sequentially. 

Leafly reported a $1.1 million loss on $8.4 million revenue. The company didn’t host an earnings call — and its Nasdaq listing could be in jeopardy, though the delisting is stayed until a hearing in December.

Cannabis use tied to lower alcohol, drug consumption 🌿

Legalization is tied to a reduction in nicotine, alcohol and non-prescription opioid consumption, according to a new study of people aged 21-25 in Washington and published in the Journal of Adolescent Health. 

Sixty-six percent of Donald Trump voters oppose the recreational use of cannabis, despite the President-elect’s tacit support of federal cannabis reform, per a new poll: 

Curaleaf banks on Trump, GOP support for federal cannabis reform | Green Market Report

Backer of failed Florida marijuana amendment plans to fight on | CBS News

What does it take to run a cannabis farm? | Freakonomics

Trump plans to revoke many Biden policies. Where does that leave marijuana? | NPR

Backlash builds to marijuana legalization in red states | Politico

A surprising source of dementia relief: Cannabis | Wall Street Journal