Latest Cannabis News: October 3, 2023

Latest Cannabis News: October 3, 2023

Sabrina
OCTOBER 3RD, 2023

Stay up to date with the latest legalization and cannabis news with the C.B. Advisors. Every week, we will release a snippet of what’s happening with each state in the cannabis industry. Did you miss last week? No worries – click here for last week’s cannabis news.

 

Federal

The Senate Banking Committee took a historic step Wednesday by advancing marijuana-related legislation to the floor for the first time.

The legislation, known as the Secure and Fair Enforcement Regulation Banking Act, would allow legal marijuana businesses to use major financial and banking institutions. The committee reported out the bill by a 14-9 vote with the support of Republicans Cynthia Lummis of Wyoming, Steve Daines of Montana and Kevin Cramer of North Dakota. Only one Democrat, Raphael Warnock of Georgia, voted against approving the bill for floor consideration.

 

CBD

 

Wyoming: Marijuana advocates are taking stock of their options to get two initiatives onto the 2024 ballot after a misunderstanding led them to believe the measures didn’t qualify when, in fact, it appears they did.

Source: https://trib.com/news/state-regional/government-politics/marijuana-initiatives-wyoming-elections-ballot/article_64417060-5c88-11ee-a435-5303f5df7f80.html

 

Recreational

 

Montana: Montana made legislative changes to House Bills 128 and 299. The moratorium for new applications is extended to 6/30/25. The department will begin accepting new applications on or after 7/1/25.

Source: https://mtrevenue.gov/cannabis-control-division-legislative-changes-summary-for-2023/

 

Missouri: The Missouri Division of Cannabis Regulation (DCR) announced the names of 48 microbusiness license winners on Oct. 2, roughly a month after random lottery drawings were held for a pool of more than 1,600 applicants.

Source: https://www.cannabisbusinesstimes.com/news/missouri-cannabis-microbusiness-license-lottery-winners/

 

 

The Cannabis Business Advisors have more than thirty years of combined industry experience, spanning across the U.S. and around the globe. C.B. Advisors offers a comprehensive suite of services, including application and licensing preparation, operational analysis, merger and acquisition support, policy and procedures, exit strategy guidance, and business development planning.

Contact Info@thecannabisbusinessadvisors.com for more information on how to apply for a cannabis business license.

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