Welcome back to The Week in Weed, your Friday look at what’s happening in the world of legalized marijuana.
This week, we check in on the move to put adult use on the ballot in Florida. We see that Maryland is working on regulations, as July 1 draws nearer. We note that the FDA is looking at a regulatory framework for CBD. And finally, we note that the Kansas City Royals sign a deal with a CBD company.
FLORIDA
Could adult-use cannabis appear on the 2024 Florida ballot? Possibly. As we reported here, there are enough signatures to qualify, but the state’s Attorney General believes that the initiative as written violates state law. If the initiative does make it to the voters, will it garner enough support? Chris Cano, executive director of the Suncoast NORML chapter, has his doubts. In addition to the need for a 60% vote in favor, he also worries that the law would benefit the industry more than consumers.
The amendment itself does nothing to expand the cannabis industry. It essentially allows the existing limited cartel structure of license holders to start selling over the counter adult use cannabis for a higher price.
Chris Cano, executive director of Suncoast NORML
All we can advise is to fasten your seat belts, as it’s undoubtedly going to be a bumpy ride.
MARYLAND
Meanwhile, in Maryland, legalization day is fast approaching, and lawmakers are busy preparing. Officials are now accepting grant applications for medical dispensaries to obtain adult-use licenses. Starting August 1, social equity licensees will be eligible for money to cover startup costs. The state’s Historically Black Colleges and Universities (HBCUs) will be eligible for grants to set up cannabis-related programs. And state cannabis regulators issued new guidance documents for the industry last week.
CBD REGULATIONS
Earlier this year, the Food and Drug Administration (FDA) announced that existing regulatory pathways were not appropriate to regulate CBD. The agency asked Congress to set up a new pathway and offered to work with them on that. While Congress has been busy with other matters lately, the FDA has outlined what it would like to see from lawmakers.
AND FINALLY
Speaking of CBD, the Kansas City Royals recently inked a sponsorship deal with Pure Spectrum CBD. They are the second franchise to set up such a partnership; Mynd Drinks is the official CBD sponsor of the Chicago Cubs. If you’d like to learn about CBD while watching the Royals play, just head on over to the Pure Spectrum Lodge at Kauffman Stadium.
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