Welcome back to the buzz, our monthly cannabis news and policy update. Your at-a-glance source for regulatory developments, agency announcements, and trends impacting the cannabis industry.
In this edition of the buzz, highlights include:
- Historic rescheduling — with a catch: Acting AG Todd Blanche signed an order moving state-licensed medical marijuana from Schedule I to Schedule III under the CSA, the biggest federal cannabis policy shift in 50+ years. Adult-use? Still Schedule I, for now.
- 280E relief — complicated: The order signals relief for state medical licensees, but questions remain on timing and whether federal registration is required first. For adult-use operators, conflicting language in the order leaves their status totally unresolved.
- State markets in motion: VA's governor proposed amendments to its adult-use bill ahead of an April 22 reconvening; MA overhauled its CCC entirely; NC issued interim recs to legalize adult-use; TX awarded three new medical licenses.
- Hemp crackdown accelerating: MO passed a bill adopting the federal hemp definition, effectively reclassifying many hemp products as marijuana; TX courts temporarily blocked new consumable hemp regs; MN reopened hemp edible license applications.
- CLIMB Act introduced, FDA CBD rules nearing: Bipartisan CLIMB Act would open traditional lending to state-legal cannabis businesses; separately, OIRA review signals an FDA CBD enforcement policy is close to dropping.
- State markets in motion: VA's governor proposed amendments to its adult-use bill ahead of an April 22 reconvening; MA overhauled its CCC entirely; NC issued interim recs to legalize adult-use; TX awarded three new medical licenses.
- Hemp crackdown accelerating: MO passed a bill adopting the federal hemp definition, effectively reclassifying many hemp products as marijuana; TX courts temporarily blocked new consumable hemp regs; MN reopened hemp edible license applications.
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This publication is designed to provide general information on pertinent legal topics. The statements made are provided for educational purposes only. They do not constitute legal or financial advice nor do they necessarily reflect the views of Holland & Hart LLP or any of its attorneys other than the author(s). This publication is not intended to create an attorney-client relationship between you and Holland & Hart LLP. Substantive changes in the law subsequent to the date of this publication might affect the analysis or commentary. Similarly, the analysis may differ depending on the jurisdiction or circumstances. If you have specific questions as to the application of the law to your activities, you should seek the advice of your legal counsel.