Cannabis Legal Report – May 2023 | Perkins Coie

Cannabis Legal Report – May 2023

Welcome to the latest edition of the Cannabis Legal Report, brought to you by Perkins Coie. As we approach the halfway point of 2023, it’s clear that the cannabis industry continues to evolve at a rapid pace. In this report, we’ll take a look at some of the key developments in the industry over the past few months, as well as what we can expect moving forward.

Legalization Update

Perhaps the biggest news in the cannabis industry over the past few months has been the continued push for legalization at the federal level. While we still haven’t seen any major breakthroughs on this front, there are signs that progress is being made.

In March, a group of bipartisan lawmakers introduced the Marijuana Opportunity Reinvestment and Expungement (MORE) Act, which would remove cannabis from the list of controlled substances and expunge certain cannabis-related convictions. While the bill faces an uphill battle in Congress, it has garnered significant support from both Democrats and Republicans, and could pave the way for further legalization efforts in the future.

On the state level, we’ve seen several new states move to legalize cannabis in various forms over the past few months. In February, Virginia became the first southern state to legalize adult-use cannabis, while South Dakota became the first state to simultaneously legalize both medical and adult-use cannabis. Other states, including New York and New Mexico, have also taken steps toward legalization.

Industry Trends

As the cannabis industry continues to grow, we’re seeing several trends emerge that are worth noting. One of the biggest trends is the increasing popularity of cannabis-infused beverages. According to a report from BDSA, sales of cannabis beverages grew by 40% in 2022, and are expected to continue to grow in the years ahead.

Another trend we’re seeing is the rise of “cannabis tourism.” With more states legalizing cannabis, and more consumers interested in exploring the industry, we’re seeing a growing number of cannabis-themed tours, events, and experiences popping up around the country.

Regulatory Update

As always, the regulatory landscape for the cannabis industry continues to be complex and ever-changing. A few key developments over the past few months include:

– The FDA issuing warning letters to several companies for making unsubstantiated claims about the health benefits of CBD products.
– The DEA announcing plans to create a new regulatory framework for hemp-derived delta-8 THC products.
– The USDA releasing new guidelines for hemp producers, including updated testing requirements for THC levels.

Looking Ahead

So, what can we expect in the coming months and years? Here are a few predictions from the team at Perkins Coie:

– We’ll see continued momentum toward federal legalization, although it may take several more years before we see any major breakthroughs.
– The cannabis industry will continue to grow, with new states legalizing cannabis and more consumers becoming interested in the industry.
– We’ll see more consolidation in the industry, as larger companies acquire smaller ones and the industry becomes more mature.
– We’ll see more innovation in product development, including new types of cannabis-infused products and delivery methods.
– We’ll see increased focus on sustainability and environmental responsibility in the cannabis industry, as consumers become more aware of the impact of their consumption habits.

Conclusion

The cannabis industry is an exciting and constantly evolving space, and we’re thrilled to be a part of it. As we look ahead to the rest of 2023 and beyond, we’re excited to see how the industry continues to grow and develop, and we look forward to helping our clients navigate the complex legal landscape. Thank you for reading this edition of the Cannabis Legal Report, and we’ll see you again soon.

Top Questions Concerning Cannabis Legal Report – May 2023 | Perkins Coie

What is the Cannabis Legal Report?

The Cannabis Legal Report is a publication by Perkins Coie that provides updates on the current legal landscape of cannabis in the United States. It covers state and federal laws, regulatory updates, and industry trends.

The three most important information from this answer are:
1. The Cannabis Legal Report is a publication by Perkins Coie.
2. It provides updates on the legal landscape of cannabis in the United States.
3. It covers state and federal laws, regulatory updates, and industry trends.

What is the significance of the May 2023 report?

The May 2023 Cannabis Legal Report is significant because it marks the 10-year anniversary of the legalization of recreational cannabis in Colorado. The report will likely reflect on the impact of legalization in Colorado and other states, as well as provide insights into the future of the cannabis industry.

The three most important information from this answer are:
1. The May 2023 Cannabis Legal Report marks the 10-year anniversary of the legalization of recreational cannabis in Colorado.
2. The report will likely reflect on the impact of legalization in Colorado and other states.
3. The report will likely provide insights into the future of the cannabis industry.

Who is the target audience of the Cannabis Legal Report?

The Cannabis Legal Report is targeted towards legal professionals, policymakers, and individuals in the cannabis industry. It provides valuable information and analysis that can be used to inform business decisions, legal strategies, and policy development.

The three most important information from this answer are:
1. The target audience of the Cannabis Legal Report includes legal professionals, policymakers, and individuals in the cannabis industry.
2. The report provides valuable information and analysis.
3. The report can be used to inform business decisions, legal strategies, and policy development.

What are some of the current legal issues in the cannabis industry?

Some of the current legal issues in the cannabis industry include federal prohibition, banking and financial services, taxation, and intellectual property. Many states have legal cannabis markets, but the industry still faces challenges due to conflicting state and federal laws.

The three most important information from this answer are:
1. Some of the current legal issues in the cannabis industry include federal prohibition, banking and financial services, taxation, and intellectual property.
2. The industry still faces challenges due to conflicting state and federal laws.
3. Many states have legal cannabis markets.

How can the Cannabis Legal Report be used?

The Cannabis Legal Report can be used to stay up-to-date on the legal landscape of the cannabis industry, inform business decisions, and develop legal strategies. It can also be used to educate policymakers and advocate for changes in the legal framework surrounding cannabis.

The three most important information from this answer are:
1. The Cannabis Legal Report can be used to stay up-to-date on the legal landscape of the cannabis industry.
2. The report can inform business decisions and legal strategies.
3. It can be used to educate policymakers and advocate for changes in the legal framework surrounding cannabis.

Wrong Beliefs Regarding Cannabis Legal Report – May 2023 | Perkins Coie

Introduction

Cannabis is a hotly debated topic, with many people having strong opinions on its legality and use. With the growing number of states legalizing cannabis, it’s important to understand the facts and dispel any misconceptions about this controversial plant. The Cannabis Legal Report – May 2023 | Perkins Coie is a valuable resource for anyone seeking to learn more about the legal landscape of cannabis.

Misconception 1: Cannabis is a Gateway Drug

One of the most common misconceptions about cannabis is that it is a gateway drug that leads to the use of harder drugs. While it’s true that some people who use cannabis may go on to use other drugs, this is not the case for everyone. In fact, research has shown that the majority of people who use cannabis do not go on to use other drugs. Additionally, there is evidence that cannabis can be used to treat addiction to other drugs.

Misconception 2: Cannabis is Addictive

Another common misconception about cannabis is that it is highly addictive. While it is true that some people may develop a dependence on cannabis, it is not considered to be as addictive as other drugs, such as opioids or cocaine. The risk of addiction also varies depending on the individual and their frequency and method of use.

Misconception 3: Cannabis is Harmful to Your Health

Many people believe that cannabis is harmful to your health, but this is not necessarily true. While smoking cannabis may have negative effects on lung health, there are many other ways to consume cannabis that do not involve smoking. Additionally, there is growing evidence to suggest that cannabis can have medical benefits, such as reducing chronic pain and nausea.

Misconception 4: Legalizing Cannabis Will Increase Crime

Another common misconception about cannabis is that legalizing it will lead to an increase in crime. However, studies have shown that this is not the case. In fact, states that have legalized cannabis have seen a decrease in violent crime rates. Additionally, legalizing cannabis can help to reduce the burden on the criminal justice system and generate revenue for the government.

Misconception 5: Cannabis is Only for Recreational Use

Many people believe that cannabis is only used for recreational purposes, but this is not true. There are many medical uses for cannabis, such as treating chronic pain, nausea, and seizures. In fact, some states have legalized cannabis specifically for medical use. It’s important to recognize that cannabis can be used for both recreational and medical purposes, and that both uses should be considered in any discussion about its legality.

Conclusion

In conclusion, there are many misconceptions about cannabis that persist despite growing evidence to the contrary. It’s important to educate ourselves and others about the facts surrounding cannabis use and legalization. The Cannabis Legal Report – May 2023 | Perkins Coie is a great resource for anyone seeking to gain a better understanding of the legal landscape of cannabis. By dispelling these misconceptions, we can have informed discussions about the benefits and risks of cannabis use and work towards creating more effective policies and regulations.