Detroit Dispensary As Cannabis Casino, Delaware Legalization, Florida's Hemp Issues And More

Florida House Committee OKs Hemp Product Restriction Bill

Following the approval of a bill related to regulating for hemp-derived products, entrepreneurs are concerned that the bill could put them out of business.

The proposed bill, HB 1475, sponsored by Republican Will Robinson Jr. of Manatee County, aims to limit the amount of THC in retail hemp products. This move is in response to the growing popularity of Delta-8, a legal product that has led to proposed hemp regulations in over 20 states in the past two years. Hemp cannot contain more than 0.3% THC according to the 2018 U.S. Farm Bill.

Delaware Governor Decides on Marijuana Legalization Bills

Gov. John Carney will have to decide whether to veto or sign two bills, HB 1 and HB 2, that would legalize marijuana and create a recreational industry in the state. Carney has until April 22 and April 26 to act on each bill, respectively. The bills were intentionally staggered so lawmakers can quickly override any veto if necessary when they return from Easter Break on April 25.

The legislation legalizes personal marijuana use and the second bill creates a recreational industry. Carney's spokesperson has not commented on whether he will sign or veto the bills. If Carney vetoes the legalization bill, lawmakers may override the veto, potentially saving Carney from having two pieces of legislation overridden.

Alabama Medical Cannabis License Applications Move To Review Process

Alabama Medical Cannabis Commission advanced 90 business applications for a review process. The applications include licenses for integrated facilities, dispensaries, cultivators, processors, secure transporters, and state testing laboratories. The review process will take 60 days.

Virginia Bans Delta-8 THC, Imposes Limits On THC Levels In Hemp Products

Virginia's Senate and House of Representatives passed Gov. Glenn Youngkin's revised version of Senate Bill 903, which prohibits delta-8 THC and sets THC level limits in hemp food products. While stakeholders have raised concerns about the potential ban on full-spectrum CBD products, the bill aims to address lawmakers' worries about delta-8 THC's proliferation as an alternative to marijuana. The governor's signature is pending.

March Sets New Cannabis Sales Record In Michigan, Cannabis Casino In Detroit

Michigan broke its marijuana sales record in March, as state regulators reported nearly $250 million in combined recreational and medical cannabis purchases. Adult-use sales accounted for the majority of sales, reaching $239.8 million, while medical marijuana purchases were $9.8 million, reported New Cannabis Ventures.

Flower was the most popular product followed by vape cartridges and infused edibles, according to Michigan Cannabis Regulatory Agency (CRA) data.

Despite record-setting sales, the cost of marijuana remained at an all-time low, with an ounce now priced at around $90. Yet, cannabis businesses are finding their way.

The Reef, a once-failing cannabis dispensary in Detroit, has transformed into the first US cannabis casino after losing customers due to recreational marijuana legalization in nearby Michigan cities.

Meanwhile, in Gaylor, MI the city council rejected a marijuana golf outing proposal and amended an ordinance to suspend licenses for minor violations. The proposal by 517 Golf was modified to allow only the consumption of marijuana in a designated area, but the council was concerned about safety and public consumption.

Photo by Kaysha on Unsplash

Market News and Data brought to you by Benzinga APIs
Comments
Loading...
Posted In: CannabisGovernmentNewsRegulationsMarketsAlabama CannabisDelaware CannabisFlorida CannabisMichigan cannabisVirginia Cannabis
Benzinga simplifies the market for smarter investing

Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.

Join Now: Free!

Cannabis rescheduling seems to be right around the corner

Want to understand what this means for the future of the industry? Hear directly for top executives, investors and policymakers at the 19th Benzinga Cannabis Capital Conference, coming to Chicago this Oct. 8-9. Get your tickets now before prices surge by following this link.


Loading...