When Jeff Sessions announced Thursday morning he had removed the barrier that had held back federal prosecutors from pursuing marijuana cases in states that had made pot legal, he delivered on something he had all but promised when he was nominated as attorney general. Most of the marijuana world saw it coming, but they freaked out anyway.
A fund of marijuana-based stocks dropped more than 9 percent in value and, as a sign of how mainstream marijuana has become, Sessions’ decision to repeal the Cole memo, an Obama-era protection for states that have legalized marijuana, even affected the stock price of Scotts Miracle-Gro Company, which dropped more than 5 percent. Business leaders in an industry that was worth $7.9 billion in 2017, called Sessions’ action revoking “outrageous” and “economically stupid.”
Capitol Hill screamed just as loudly. And it wasn’t just the Democratic members of the Congressional Cannabis Caucus. It was Republican senators, too. Cory Gardner of Colorado took the Senate floor to issue an ultimatum to Sessions: “I will be putting a hold on every single nomination from the Department of Justice until Attorney General Jeff Sessions lives up to the commitment he made to me in my pre-confirmation meeting with him. [Read more at Politico]
Your email address will not be published. Required fields are marked *
Save my name, email, and website in this browser for the next time I comment.
Notify me of follow-up comments by email.
Notify me of new posts by email.
Lawmakers on both sides of the aisle said Wednesday that federal law prohibiting cash-only cannabis businesses from using banks must be changed. Despite recreational marijuana being legal in 18 states and the District of Columbia, it is still classified as a Schedule I narcotic under federal law. Banks that provide services to cannabis companies —…
After years of partisan squabbling over the fate of Florida’s medical marijuana program, Democrats and Republicans are coming together to push what they’re calling a major reform bill. It could make it a lot harder for Floridians to get their hands on delta-8 tetrahydrocannabinol (THC) products. Those smokable and edible products have been part of…
The Arizona Department of Health Services has started accepting applications for “social-equity” marijuana shop licenses despite lawsuits seeking to stop the program and make it more inclusive. The new licenses are intended to help people harmed by previous marijuana laws before the drug was legalized for recreational use last year by giving 26 individuals licenses to…
Cannabis workers pushing to unionize amid complaints of low wages and rough working conditions claim they’ve faced stiff resistance from the corporate pot firms that employ them. In January of 2020, with the blessing of Democratic presidential candidate Bernie Sanders, employees at Cresco Labs’ cultivation center in Joliet voted to become the first Illinois cannabis workers…