Week in Review 5.27 to 5.31

Square Launches Program For Hemp and Cannabis Company Credit Card Processing; Applications For Hemp Licenses Continue To Balloon Across US; NJ Lawmakers Advance Medical Cannabis

This Week in Review

Cannabis: Seven Avoidable Investment Mistakes

It is likely that Cannabis will prove to be the best performing asset class over the next decade. While this provides a rare wealth-creation opportunity, the road to maturity for this emerging market is also unusually impacted by legislation, taxation, regulation and margin normalization across every investable sector. Read more

Patagonia Lays Out The History of Hemp

Patagonia has been using hemp in their clothes since 1997 and wants to get the rest of us up to speed on why the miracle fiber was deemed illegal in 1970 and why it could vital to a the future of America. Watch now

Bipartisan Lawmakers Urge DEA To Approve More Marijuana Growers

Thirty members of Congress—including three presidential candidates—sent a letter to the heads of the Justice Department and Drug Enforcement Administration (DEA) on Tuesday, imploring the officials to speed up the process of approving additional federally authorized marijuana cultivators. Read more

Square Quietly Launches Program For CBD Cannabis Company Credit Card Processing

Companies that sell cannabis products—even those consisting of CBD derived from hemp, which was legalized in the U.S. through the Farm Bill late last year—are continuing to have trouble accessing basic financial services that are available to businesses in other sectors. That includes being able to maintain bank accounts and process their customers' credit cards. Read more

NJ Lawmakers Advance Medical Cannabis, Expungement Bills

New Jersey lawmakers advanced legislation Monday expanding the state’s medical marijuana program and making it easier for certain convicts to clear their records. Read more

Magic Mushrooms Most Likely Decriminalized In Denver

Denver is on the verge of becoming the first city in the United States to ostensibly decriminalize psilocybin, the active ingredient in psychoactive "magic" mushrooms. Read more

Bipartisan group of attorneys general urge Congress to pass marijuana banking bill

A bipartisan group of attorneys general from 33 states and five territories are urging Congress to advance a bill that would allow cannabis businesses access to the federal banking system. While several states have legalized medical or recreational marijuana, the substance is still illegal under federal law. Banks providing services to state-approved cannabis businesses could face criminal and civil liability under some banking statutes, so cannabis companies resort to operating on cash. Read more

Colorado Supreme Court Rules Police Need Probable Cause Before Using Pot-Sniffing Dogs To Search For Drugs

The Colorado Supreme Court greatly diminished the role of police dogs trained to detect marijuana with a ruling Monday that created another divide between how state and federal law enforcement can investigate pot. Read more

Applications For Hemp Licenses Continue To Balloon Across US

The number of applications to grow hemp received by states has continued to increase rapidly in the wake of the 2018 passage of the Farm Bill. The West Virginia Agriculture Department reported that the number of licenses issued so far this year has more than tripled to 158, compared with 46 in 2018. Read more

7 Statistics Entrepreneurs Need to Know About Legal Cannabis and CBD

How fast is the stigma of cannabis fading? Consider the numbers: Cannabis, whether for medical use or recreationally by adults, is legal in 33 states, Washington, D.C. and the U.S. territories of Guam and Puerto Rico. An estimated 73 million Americans live in the 10 states that have legalized for adult use. Read more

Applications to grow hemp pour in to Illinois Department of Agriculture

The Illinois Department of Agriculture received nearly 400 applications to grow or process industrial hemp in the first 24 hours after they became available. Read more