Make America Green Again: U.S. Cannabis Has Bipartisan Support
By Todd Harrison via Cannabis Confidential (May 22)
Daily and near-daily cannabis use is now more common than similar levels of drinking in the U.S., according to an analysis of national survey data over four decades. Alcohol is still more widely used, but 2022 was the first time intensive level of marijuana use overtook high-frequency drinking.
In 2022, an estimated 17.7M people used cannabis (near-) daily compared to 14.7M (near-) daily drinkers, according to the study, and from 1992 to 2022, the per capita rate of reporting (near-) daily marijuana use increased 15-fold.
“A good 40% of current cannabis users are using it daily or near daily, a pattern that is more associated with tobacco use than typical alcohol use.”
SPY vs. HIGH
A farm bill battle is pitting hemp against its cousin (by marriage): cannabis. The fight centers on intoxicating hemp products, which have stealthily developed into a multi-billion-dollar industry subject to few rules and regulations.
Some canna companies and trade groups are pushing Congress to close the loophole that allows for the production and sale of intoxicating hemp-derived substances—but the hemp industry has a different ask of lawmakers: leave the plant alone.
“This will probably be one of the more interesting debates and discussions in the farm bill.” House Agriculture Chair G.T. Thompson (R-PA)
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The People’s Court
Litigator David Boies, whose prior clients include former Vice President Al Gore and plaintiffs in the case that led to the invalidation of California’s same-sex marriage ban, led his team into a Massachusetts courtroom today on behalf of U.S canna companies.
A ruling on the motion to dismiss could take anywhere from weeks to months, legal observers said of the case, while the full lawsuit could take years to conclude, as it will likely be appealed no matter which side wins at the district level.
Baby won’t you carry meeeee
The majority of Tennessee voters favor legalizing recreational cannabis. According to the latest Vanderbilt poll, more than half of Tennessee voters favor full recreational use of cannabis in the Volunteer State, let alone medical usage.
Nearly all of the states that border Tennessee have legalized cannabis in some form—mostly for medicinal purposes. Kentucky is the latest neighboring state to approve a medical cannabis program, while Missouri and Virginia both have full adult use.
Stocks & Stuff
Cannaland continued to struggle as the specter of a long rescheduling process with no perceived news until the other side of the comment period has the bears on the prowl and the bulls on their heels. U.S. cannabis ETF finished the session off 4%.
Given the ongoing concerns that a new administration could potentially arrest these positive canna developments, we’d be wise to remember how popular this issue has been polling (in Ohio, and Florida…) as we search for signs of further GOP adoption.
Below, we’ll chew through today’s …