Tuesday can’t come soon enough

OHIO
Adult-use sales kicking off this week in the Buckeye State

What’s happening: Last year, Ohio voters gave a thumbs up to adult-use cannabis. The voters’ will is being heeded and adult-use sales kick off on Tuesday.

Why it matters: The US cannabis scene is growing, and with exception of of Florida, Midwestern states are the best opportunity for industry growth. Ohio (population: 11+ million) coming online this week will put enormous pressure on Pennsylvania (population: 13+ million) to follow suit, as PA cannabis users will go across state borders to spend their cannabis dollars.

Similarly, Wisconsin (population: 5.9 million) is feeling the pressure after Minnesota (population: 5.7+ million) joined Illinois (population: 12.6 million) in administering legal cannabis.

Industry impact: Cannabis analytics company BDSA projects that Ohio will become a $1.65 billion market by 2027. While this number is nothing to sneeze at, we know that sales projections and roll out timelines are always subject to change, especially as seen in New York and across other markets

What’s next: Expect Ohio medical cannabis dispensaries to begin adult-use cannabis sales this week as part of a new round of licensing. Future licensing will then allow other operators to enter the adult-use cannabis market in Ohio. 

-JR

In a letter sent to Attorney General Merrick Garland and the Drug Enforcement Administration (DEA) on Friday, a group of pro-cannabis, Democratic Senators pushed the DEA to move quickly to reschedule. 

“Cannabis should be entirely de-scheduled,” they said. “Yet, we recognize and appreciate DEA’s effort to address the flaws in our current marijuana policy by using its authority under the CSA and following the scientific and medical evidence to reschedule marijuana as a schedule III drug. We urge DEA to finalize the rule.”

Signatories include: Senate Majority Leader Chuck Schumer, Sens. Sens. Cory Booker (D-NJ), Ron Wyden (D-OR), Tina Smith (D-NM), Ben Ray Luján (D-NM), Patty Murray (D-WA) and Kirsten Gillibrand (D-NY).

Big money pushing against Amendment 3 in Florida 💰
On Friday, billionaire Ken Griffin, CEO of Citadel, threw his support behind the NO campaign on Amendment 3 in Florida. He committed $20 million to the campaign to defeat Amendment 3 and candidates opposing the effort, according to his OpEd in the Miami Herald. 

Great Smoky Cannabis to kick off in September 😮‍💨
The Eastern Band of Cherokee Indians will open their adult-use cannabis dispensary, Great Smoky Cannabis Co., on tribal lands near Asheville, NC the first week of September. Read more.

Some Ohio cities tapping the cannabis breaks ⛔
While there will be great fanfare this week as adult-use cannabis sales kick off in Ohio, not everyone is so excited as Cultivated readers are. A group of OH cities  still say no. Here’s the full list. 

Insects and human hair found in cannabis product sold in N.J.  State just recalled it. | NJ.com

Details of new Oklahoma medical marijuana program kept top secret, even from Legislature | Oklahoma Voice

The Mainstreaming of Marijuana Is Nothing to Celebrate | National Review