Amazon Officially Lobbying on Cannabis
A few weeks back, Amazon announced it would stop drug testing employees for out-of-job usage of marijuana and start lobbying Congress for legalization. According to Cannabis Wire, Amazon officially commenced lobbying efforts yesterday morning. Amazon.com Services LLC registered to lobby, among other topics, on: “Issues related to the Equality Act (H.R. 5 / S. 393), the Justice in Policing Act (H.R. 1280), and marijuana reform, including the MORE Act of 2021 (H.R. 3617).” However, the focus has largely shifted to the Cannabis Administration and Opportunity Act as of recently. Although both bills would end the federal criminalization of cannabis, the Cannabis Opportunity Act provides a much more comprehensive bill offering more guidance on regulation.
IL Lawsuit
The state of IL will hold its first long-awaited lottery on July 29th to award its 185 new licenses. A lawsuit filed by Michigan-based cannabis company Sozo may delay this, though. Sozo claims that the law, signed by Gov. J.B. Pritzker last week, unfairly lowers its chances of getting the new licenses. One part of the law gives bonus points in scoring applications from Illinois-based companies, while another removes a bonus for hiring 10 people from areas hurt by the war on drugs — both of which hurt Sozo. The suit seeks a court order to keep the state from holding the lotteries to award the licenses, claiming unconstitutional processes. IL cannabis companies have been waiting for these delayed lotteries for months now and cannot afford more delays.
Ohio Tracker
Ohio sales for the past week were down slightly to $6.86 Million, an 18.6% sequential decrease but a 102% YoY increase. Sales for Ohio have been fairly strong in the past few months, with consistent weekly sales ranging from $6-$8 Million. The annual run rate for Ohio is $350 Million. The largest producers in the state are Columbia Care, Verano, and Cresco.
