POLITICO - CANNABIS LOBBYING INDUSTRY WOES
Add to this the "do-nothing" POTUS and Democrats, and we have the MSOS hitting new lows. Legalization will take on a "dual-track" focus if there is movement before the mid-terms.
Politico ran an important story about Cannabis lobbying and the "do nothing" democrats. Obviously, not one piece of cannabis legislation has been passed in this Congress, adding to a growing fear that the window to act is closing given the high probability that Democrats lose control in the Mid-terms. As the story points out, "Industry lobbyists and legalization advocates say the movement has been hindered by a lack of consensus on the legislative strategy. "Liberal advocacy groups are pushing for a comprehensive overhaul of federal cannabis policies to help people harmed by criminal enforcement, while industry groups are seeking any piecemeal policy victory that could provide momentum toward more sweeping changes." Despite our belief that Legalization is now a Tier one issue in D.C., the industry remains a relatively small-time player, investing little in the influence-peddling game compared to other vices (wine and spirits, and beer.) As it turns out, many major cannabis companies and industry groups spent less on federal lobbying in 2021 than they did in earlier years. According to disclosure reports, the three leading cannabis industry groups spent less than $900,000 combined during the first three quarters of last year on lobbying. Last year, the industry rallied to form the U.S. Cannabis Council, which spent $180,000 on lobbying in the third quarter of 2021. But one cannabis strategist argued that the industry has failed to create a sense of urgency and that not even the business community has a singular vision of what reform should look like. The industry size and contributions to the economy don't warrant federal Legalization. So what is the path forward?
One thought is for the CAOA to be broken up into a "DUAL TRACK" of two different bills. The potential first bill (Track 1) incorporates elements of SAFE+ and the second (Track 2) takes on elements of MORE, CAOA, and the States Reform Act that encompasses Social Justice reform.
Curaleaf expansion in PA
PA Competition is heating up! In November, P.A. sales decelerated 2.6% MoM and held steady at 31% YoY. There are currently 224 active licenses in P.A.
Curaleaf Holdings yesterday announced plans to open two new dispensaries in Pennsylvania. Curaleaf's latest locations in Greensburg and Wayne will increase the Company's retail footprint to 14 dispensaries statewide and 125 across the country. Two additional locations, Curaleaf Erie (7891 Peach St.) and Curaleaf State College (1248 S Atherton St.) are expected to open by the end of February, pending regulatory approval. Consumers will have access to a selection of Curaleaf's top-selling vaporizer and whole flower products, including Select Elite, Select Elite Live, Grassroots Full-Spectrum RSOs, RSO capsules, prepackaged flower, distillate cartridges, strain-specific vape cartridges, as well as cured and live concentrates. "Curaleaf is proud to broaden its scope of patient care and provide premium medical marijuana products to our Greensburg and Wayne medical communities," said Chief Executive Officer Joe Bayern. "Our latest retail expansion allows us to further support patients in the state of Pennsylvania and work with esteemed scientists on essential medical marijuana studies that will empower both physicians and patients to make confident and informed decisions." The Company also serves patients through its Curaleaf dispensaries in Altoona, Bradford, Brookville, City Avenue, DuBois, Gettysburg, Harrisburg, Horsham, King of Prussia, Lebanon, Morton, and Philadelphia. Curaleaf will offer grand opening discounts to veterans, seniors, and first-time patients at all Pennsylvania locations in the coming weeks.
South Dakota Medical
The state is issuing the first three medical marijuana dispensary licenses in South Dakota.
The dispensaries are in Wagner, Watertown, and Keystone. The Department of Health says they're continuing to process received applications. They did not provide a timeline on when more applications would get approved, but they hope to shortly. Dispensaries must sell marijuana grown in the state. There are currently no licenses issued for cultivation or manufacturing facilities. State lawmakers are considering dozens of bills aimed at the medical marijuana industry and bills that legalize adult use.
