420 with CNW — 32 State AGs Ask Congress to Expeditiously Pass Cannabis Banking Law

A group of 32 attorneys general from states and U.S. territories is urging Congress to pass a banking bill that would allow licensed marijuana operators to use traditional financial services. The group sent a letter to congressional leaders, underscoring the urgent need to provide cannabis businesses access to banks and credit unions.

The letter, spearheaded by AGs from Ohio, Washington, DC, Maryland, and Georgia, urges lawmakers to prioritize the Secure and Fair Enforcement Regulation (SAFER) Banking Act this legislative session. According to the officials, the growing number of states legalizing marijuana highlights the need to bring cannabis-related financial activity into the formal banking system.

The AGs argue that keeping cannabis businesses locked out of banking pushes them into risky, cash-heavy operations. Without access to financial institutions, many of them are forced to handle large sums of cash, putting employees, customers, and communities at risk of theft and violent crime.

They also point out that the lack of banking access makes it harder for states to collect taxes and regulate the industry effectively. They note that the SAFER Banking Act could help states recover potentially hundreds of millions in lost tax revenue by allowing legal cannabis businesses to operate more transparently.

Although the letter refers to the 2025 version of the SAFER Banking Act, the bill has not yet been officially reintroduced in Congress. It remains to be seen whether any parts of the bill will change from its previous form, which failed to pass before the last session ended.

In the letter’s closing, the AGs describe the SAFER Banking Act as a reasonable, bipartisan step that would improve safety for the roughly 75% of Americans living in states where marijuana is legal. They clarify that the measure doesn’t push for legalization in states where marijuana remains illegal. Instead, it aims to solve practical issues that stem from the disconnect between federal banking rules and state cannabis laws.

The officials say the goal is to move the cash flowing through licensed cannabis businesses into secure, monitored banking systems, making the industry easier for both regulators and law enforcement to oversee.

The other AGs who signed the letter are from American Samoa, Alaska, Arizona, California, Connecticut, Hawai’i, Delaware, Illinois, Massachusetts, Maine, Michigan, Nevada, Minnesota, New Jersey, New York, New Mexico, Colorado, Northern Mariana Islands, Oregon, Oklahoma, Pennsylvania, South Dakota, Rhode Island, Utah, U.S. Virgin Islands, Vermont, West Virginia, and Washington.

Major cannabis industry players like TerrAscend Corp. (TSX: TSND) (OTCQX: TSNDF) will be hoping that the pleas of the bipartisan AGs will be heeded and the needed legislation is passed so that some of the hurdles that industry actors face in accessing banking services are addressed.

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CNW420 spotlights the latest developments in the rapidly evolving cannabis industry through the release of an article each business day at 4:20 p.m. Eastern – a tribute to the time synonymous with cannabis culture. The concise, informative content serves as a gateway for investors interested in the legalized cannabis sector and provides updates on how regulatory developments may impact financial markets. If marijuana and the burgeoning industry surrounding it are on your radar, CNW420 is for you! Check back daily to stay up-to-date on the latest milestones in the fast -changing world of cannabis.

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420 with CNW — Oklahoma Recreational Cannabis Petitioners to Begin Signature Collection in August

A group in Oklahoma pushing to legalize recreational cannabis for adults 21 and older is preparing to begin collecting signatures to get the issue on the ballot. The proposed measure, State Question 837, would legalize recreational cannabis and apply local and state taxes to its sale. It would also eliminate the current excise tax on medical cannabis and introduce a 10% tax on adult-use purchases.

In addition, the proposal includes a key legal safeguard that would bar law enforcement from assuming someone is under the influence just because they’ve used cannabis or have THC in their system. This seeks to prevent wrongful accusations based on chemical presence alone.

If passed, the measure would become a constitutional amendment. Jed Green, who leads the group Oklahomans for Responsible Cannabis Action (ORCA), said the initiative is designed to streamline and clarify previous legislation.

In 2023, a similar attempt, State Question 820, was voted down. Green noted that a lack of unity within the cannabis community may have contributed to that outcome. This time, however, he believes the proposal is gaining wider support both from within the industry and among state residents.

“For the past few months, we’ve been building relationships with local communities and cannabis businesses throughout the state,” Green said. “When we kick off signature collection on August 6, we expect to be active in most counties.”

To get the proposal on the ballot, supporters need to collect close to 173,000 valid signatures by November 3. The petition was submitted for approval earlier this spring.

This initiative comes on the heels of a new law, SB 1087, which modifies how citizen-led proposals work in Oklahoma. Among other changes, the legislation limits the number of required signatures for constitutional amendments to 20.8% of the votes cast in the most recent gubernatorial race. That law is currently under review by the state’s Supreme Court.

Green noted that the new law has added paperwork but hasn’t changed their grassroots strategy. He stated that support for the campaign is strong, pointing out that over 330,000 Oklahomans currently hold medical cannabis cards.

He added that summer is the ideal time to gather signatures thanks to community events, fairs, and sports games. Still, due to signature limits by county, the group will also need to focus on smaller and more rural areas like Harmon County, where only a small number of people can sign.

“Maybe we’ll spend the day at the co-op or the courthouse,” Green said. “Only 117 people in Harmon County can sign, so we’ll be there soon.”

Will this second attempt deliver the needed policy change? Major marijuana companies in and outside the country, such as SNDL Inc. (NASDAQ: SNDL), will be watching as the process plays out.

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420 with CNW — Missouri Supreme Court Says Local Authorities Shouldn’t Stack Cannabis Sales Taxes

Missouri’s Supreme Court has ruled that counties and cities cannot each apply a separate sales tax on recreational cannabis.

The court stated that under the constitutional amendment passed in 2022, only one local authority may collect a 3% sales tax on cannabis. The local authority can either be a city, town, or village in an incorporated area or a county in unincorporated regions—not both.

The justices pointed out that the amendment’s language ties the term “local government” to the location of the dispensary. That means if a cannabis store is inside a city’s limits, only that city can apply the 3% tax, not the county too.

The decision was based on a case involving Robust Missouri 3 LLC, a dispensary located in Florissant. Customers were being taxed nearly 21%, including 3% from both St. Louis County and Florissant. The court’s ruling invalidates the county’s tax in this situation and affects more than 70 other locations across Missouri where both city and county governments have been collecting a marijuana sales tax.

Judge Zel Fischer disagreed with the majority, arguing that the amendment allows for both cities and counties to apply the tax—even within incorporated areas. He wrote that interpreting “and” to mean “or” leads to an unreasonable outcome and ignores the plain wording of the law. In his view, counties should be allowed to collect taxes within their borders, whether incorporated or not.

Previously, a Missouri appeals court sided with the dispensary, stating that the amendment’s language is clear and doesn’t allow for double taxation by both city and county governments. That decision overturned an earlier ruling that had permitted both levels of government to impose their own taxes on cannabis.

The Supreme Court’s decision also settles a related case, which had been on hold until this ruling. That case involved a Buchanan County judge who had ruled in favor of stacked taxes as well.

Andrew Mullins, who leads the Missouri Cannabis Trade Association, praised the ruling. He said the group filed the legal challenge shortly after dual taxes started appearing in 2023, aiming to defend consumers from unnecessary costs. Mullins estimated that the decision will save buyers around $3 million each month.

He added that cannabis customers in Missouri are already contributing significantly through taxes and that the ruling helps keep prices reasonable while maintaining the program’s strong reputation for quality and access.

As unnecessary double taxes are halted, the marijuana industry could deepen its reach and create opportunities for more entrepreneurs, such as those starting businesses similar to Innovative Industrial Properties Inc. (NYSE: IIPR) that serve cannabis firms without directly engaging in trading marijuana products.

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420 with CNW — Questions Arise on Why Feds Raided a Licensed Cannabis Farm in California

There are thousands of unauthorized cannabis operations across the US. Yet, when federal agents carried out one of their biggest enforcement actions this year, they didn’t target a black-market grower. Instead, they set their sights on California’s largest licensed cannabis producer.

The federal operation, which happened at two locations operated by Glass House Farms, situated in Los Angeles, remains surrounded by questions. The exact motive hasn’t been officially explained, sparking a range of speculation. Some believe the raid was politically motivated, aimed at intimidating undocumented immigrants. Others suspect it was meant to shake up the regulated marijuana industry.

Tensions between the Trump administration and California have been high, especially around funding disputes involving infrastructure and disaster recovery. That ongoing conflict has led some to speculate that Glass House may have become collateral damage in a broader standoff between state and federal governments.

Federal documents show that on July 10, agents from Immigration and Customs Enforcement (ICE) and Border Patrol carried out a warrant at Glass House’s facilities in Camarillo and Carpinteria. During the chaos, a worker trying to flee fell from a greenhouse roof and later died from his injuries.

Outside the property, tensions flared as demonstrators clashed with law enforcement, prompting officers to use tear gas. One protester reportedly threw a gas canister back toward authorities. Another, now wanted by the FBI, allegedly discharged a firearm. Over 360 people were arrested during the sweep, most believed to be in the U.S. without legal immigration status.

No marijuana was confiscated during the operation. The criminal warrants authorizing the raids are still sealed. Authorities have said the investigation involves serious allegations, including human trafficking and child labor. At least 14 minors were found at one site, but officials have released no further details.

No charges have been filed against Glass House. In a short statement on X, Glass House stated it follows legal hiring procedures, has never employed minors knowingly, and has cooperated fully with immigration authorities.

Following the incident, the United Farm Workers urged non-citizen laborers to avoid cannabis-related jobs, warning that federal law still classifies marijuana as illegal.

In 2023, Glass House was hit with a lawsuit from competitor Catalyst Cannabis Co., accusing it of being a major player in the unregulated cannabis trade. Although the case was thrown out, the publicity could have put the company on the federal radar, according to observers.

Glass House Farms, a subsidiary of Glass House Brands, remains California’s largest legal cannabis grower by a wide margin.

Marijuana companies around the country, including Green Thumb Industries Inc. (CNSX: GTII) (OTCQX: GTBIF) will be hoping that what happened at Glass House is an isolated incident and isn’t indicative of any future such operations targeting licensed operators.

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420 with CNW — North Dakota to Permit Edibles, Tweak Medical Cannabis Eligibility Requirements

North Dakota will roll out several updates to its medical cannabis program, starting August 1, making it easier for patients to access treatment and offering new product choices. These changes come after lawmakers passed multiple bills to improve the state’s approach to medical cannabis.

One of the key changes includes the approval of low-dose THC edibles. Under HB 1203, dispensaries can now offer soft or hard THC-infused square-shaped lozenges. The edibles should contain no more than 5mg of THC per serving, with a package cap of 50mg. However, other THC-infused food and drinks will remain banned.

Jake Mittelsteadt, who oversees retail operations at Pure Dakota Health in Bismarck, noted that allowing edibles could significantly improve patient experience. He explained that while tinctures and capsules are already available, many patients prefer edibles for their ease of use.

Not everyone supported the edibles measure. Stephanie Engebretson, speaking for the North Dakota Chiefs of Police Association, expressed concerns about children’s safety. She pointed out that edibles often appeal to kids and that their delayed effects might lead users to overconsume.

The association recommended stronger safety measures, like locking edibles away when children are present and removing any appealing flavors. However, none of those suggestions made it into the final version.

The legislation also allows patients to use telehealth for their initial appointments—something that was previously only permitted for renewals. This change is expected to help more people enter the program, especially in areas where finding a supportive doctor has been a challenge.

According to Mittelsteadt, some patients in rural areas like Williston struggle to find a healthcare provider willing to approve medical cannabis use. In those cases, patients often have to travel to places like Watford City to get the documentation they need.

According to Jason Wahl, the state’s medical cannabis program director, the state cannot require any healthcare provider to participate in the program. He noted that involvement is entirely at the provider’s discretion.

Another legislative update, SB 2294, extends the validity of medical cannabis cards from one to two years. This change could reduce the administrative burden on both patients and providers.

As of 2024, North Dakota had issued over 10,000 medical cannabis cards, including for caregivers. Although the patient base has grown steadily since 2017, when the law first passed, that growth has recently plateaued. The program’s funding now comes solely from application and permit fees.

Additionally SB 2293, also effective in August, sets a 1-gram limit for THC concentrate containers. It also allows patients without state IDs, due to medical issues, to use alternative documentation to qualify.

These progressive changes are welcome developments to the wider marijuana industry in the country, including leading enterprises like Curaleaf Holdings Inc. (CSE: CURA) (OTCQX: CURLF), since they are aimed at increasing medical marijuana accessibility.

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420 with CNW — Proposed Florida Law Could Deny Patients Access to Medical Marijuana

A new law in Florida is causing concern among medical cannabis users as it threatens to strip patients of their access to treatment simply for facing drug-related charges. The law, Senate Bill 2514, has stirred backlash from patients and doctors who believe it unfairly punishes those relying on cannabis for legitimate medical needs.

John Mendez, a resident of Fort Myers, has used medical cannabis for the past three years to help manage daily life. “It helps me stay calm and focused. I can function better with it,” Mendez explained.

Now, under the new legislation, individuals with active medical cannabis prescriptions could lose their cards if they’re charged with certain drug offenses. That loss could be temporary or permanent, depending on the case.

“They’re trying to take away what helps me live my life,” Mendez said. “It feels like those in power are just playing games with people’s health.”

Attorney John Morgan, a major supporter of the 2016 campaign to legalize medical cannabis in Florida, says the move is less about safety and more about political strategy.“Governor DeSantis seems to think opposing cannabis is a smart political play,” Morgan said. “I think he’s completely off base.”

Morgan argues that big pharmaceutical companies are likely behind the push to limit marijuana access. “The same people pushing pills are the ones fighting marijuana access,” he said.

However, Florida’s GOP chair Evan Power supports the law and notes that medical cannabis should be seen as a special allowance, not a guaranteed right.

“We have to prevent people from taking advantage of the system,” Power stated. “This program was designed for specific health conditions, not as a loophole for other purposes.”

Meanwhile, Dr. Barry Gordon, who regularly prescribes medical cannabis, says the state has failed to provide any real guidance on how the new law will be enforced.

“There’s been zero clarification from health officials,” Gordon said. “We don’t know at what point enforcement begins or how different databases will be linked to monitor patients.”

Despite the uncertainty, Mendez and others plan to continue speaking up. “Somebody needs to tell the state what this means for people like me,” he said.

Florida voters may still get a chance to reshape the conversation. A proposed ballot measure for 2026 aims to legalize recreational cannabis. If it gains enough support, at least 60%, it could roll back some of the tough new rules now in effect.

The discussions in Florida on how best to protect the needs of medical marijuana patients will be closely watched by the broader cannabis industry, including Cronos Group Inc. (NASDAQ: CRON) (TSX: CRON) as the debates there are of interest to the entire pro-marijuana movement.

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420 with CNW — Congressional Committee Passes Measure Blocking DOJ from Reclassifying Marijuana

A congressional subcommittee has passed a new federal spending measure that includes language aimed at preventing the U.S. Department of Justice (DOJ) from reclassifying cannabis. The measure would also continue existing protections for state-run medical marijuana programs, although it introduces stricter rules for cannabis activity near parks and schools.

The House Appropriations Subcommittee on Commerce, Justice, Science, and Related Agencies (CJS) advanced the bill with a 9-6 vote. The measure will now move forward to the full committee for review and potentially be sent to the House floor.

This marks the second time lawmakers have inserted language into the spending bill that seeks to block efforts to reclassify cannabis.

The bill specifically states that no funds from the legislation can be used to move marijuana to a different category under the Controlled Substances Act (CSA) or remove it from the schedule entirely. The process has faced long delays, partly due to legal objections raised during administrative hearings.

A similar provision was included in a previous version of the CJS spending measure, but it never became law. Additionally, Republican senators tried to pass a separate bill in 2023 that would have blocked the administration’s rescheduling efforts, but that proposal never made it to a vote.

Meanwhile, the Drug Enforcement Administration (DEA) informed an administrative judge that cannabis rescheduling remains at a standstill. The hearings have been paused for over six months. A joint report submitted this month by both DEA lawyers and advocates shows that the two sides have yet to resolve their differences.

Still, advocates can take some comfort in knowing the new spending measure maintains language that prevents the DOJ from interfering with state-level medical cannabis laws. This safeguard has been included in every federal budget since 2014.

However, new language allows the DOJ to enforce penalties for selling marijuana within 1,000 feet of schools, colleges, playgrounds, and public housing, potentially increasing legal risks in those zones.

In addition to medical cannabis protections, the bill also upholds a separate clause that restricts federal interference in state-led hemp research, referencing the 2014 Farm Bill’s definition of legal industrial hemp.

In related developments, a former NFL player turned cannabis advocate met with Trump administration officials last week to discuss marijuana reform. Separately, a group of athletes and celebrities, led by former boxing champion Mike Tyson, urged President Trump to outpace former President Joe Biden on cannabis reform, including expanding pardons and improving access to banking for legal marijuana businesses.

The entire marijuana industry, including companies like Cresco Labs Inc. (CNX: CL) (OTCQX: CRLBF), will be watching how efforts to block marijuana rescheduling pan out, and how advocacy to advance marijuana policy reform helps in shaping federal drug policy.

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420 with CNW — Senate Advances Proposal Banning Most Hemp Derivatives Containing THC

Federal lawmakers are taking steps to crack down on intoxicating THC products made from hemp, signaling their intent to close the “hemp loophole” that has allowed these products to thrive in a gray area.

On Thursday, the Senate Appropriations Committee unanimously approved a measure, introduced by Senators Jeff Merkley and Mitch McConnell, that would redefine hemp under federal law. Though the changes wouldn’t kick in for a full year, hemp industry groups warn that the new rules would effectively outlaw the vast majority of hemp-based products currently on the market.

There is growing bipartisan momentum in Washington to tighten regulations on hemp products. Since the passage of the Farm Bill 2018, which legalized hemp, products containing psychoactive compounds like delta-8 and delta-10 THC have become widely available in the form of gummies, drinks, and vapes.

Some states have taken steps to crack down on these products, but federal regulations have yet to catch up. Now, Senator McConnell is pushing to close what he sees as a major gap in the law—one he helped create when he championed the 2018 bill.

The newly passed fiscal 2026 Agriculture Appropriations Bill introduces new language that draws a line between “hemp-derived cannabinoid products” and “industrial hemp.” It also updates how total THC content is measured, including compounds like THCA, which had previously slipped through due to a lack of clarity in the original legislation.

Under the measure, “industrial hemp” is defined as cannabis sativa with a total THC concentration (both THC and THCA) of no more than 0.3%. It must also be grown for uses such as textiles, fuel, food, or other purposes that do not involve cannabinoids.

On the other hand, “hemp-derived cannabinoid products” include anything that delivers synthetic THC, such as delta-10 and delta-8, and would be banned under the proposed rules.

The U.S. Hemp Roundtable chair, Jonathan Miller, said the bill would outlaw over 90% of current hemp products. While the one-year delay offers time to make changes, he argued that a total ban isn’t the answer.

Cornbread Hemp co-founder Jim Higdon echoed those concerns. He pointed to state-level regulations that have established strict age restrictions and safety rules while still giving adults legal access to hemp-based THC. “We agree that the hemp market needs work,” Higdon said. “But banning nearly everything isn’t the solution.”

The Senate’s move closely follows a similar proposal from House Republicans in June, which also called for tough restrictions on hemp-derived THC products.

The marijuana industry, including firms like Canopy Growth Corp. (NASDAQ: CGC) (TSX: WEED), will be watching the discussions in Congress and how those regulations could reshape the hemp and cannabis markets.

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420 with CNW — Calls to Regulate THC in Marijuana Products Grow in Canada

Emergency rooms across Canada are seeing a significant increase in visits from marijuana users suffering from repeated, severe vomiting—a condition called cannabis hyperemesis syndrome (CHS). According to a recent study, cases of CHS have grown thirteenfold over an eight-year period, making up over 8,000 of nearly 13,000 marijuana-related ER visits during that time.

Experts believe the spike is largely due to rising levels of THC, the compound in marijuana responsible for the high. They are urging for tighter regulations, clearer labeling, and more scientific research.

THC is just one of over a hundred cannabinoids found in marijuana, with delta-9-THC being the most recognized and studied. Canada currently restricts delta-9-THC in edibles to 10mg per piece and 1,000mg per package for topicals and extracts. However, dried marijuana doesn’t have a cap, though producers must list THC content on the label.

Other variants like delta-8-THC aren’t held to the same standards. Some manufacturers use these less-regulated compounds to boost potency while skirting delta-9 limits. Health Canada warned against this in 2023, although the guidance carries no legal weight.

THC levels in today’s cannabis are much higher than in previous decades. While products in the 1960s had around 4% THC, many now average 25%, with some reaching up to 90%. This rise in potency is linked to a range of health problems, especially in younger users whose brains are still developing. High THC exposure in adolescents may interfere with brain development and increase the risk of long-term mental health issues.

Meanwhile, the huge variety of marijuana products available makes it harder for users to gauge how much they’re consuming, especially with high-potency options dominating the market.

Ruth Ross, a University of Toronto professor, believes a standardized THC unit would help. For example, if one unit equaled one milligram, consumers could more easily understand their intake. She also stresses the need for more research reflecting the potency of today’s cannabis.

Quebec is currently the only Canadian province with strict THC caps and strict marketing controls. The province bans products that look like candy and operates a government-run retail system focused on safety and education. All profits are reinvested in research and prevention.

Ontario researchers are now studying whether Quebec’s policies are reducing cannabis-related harms. Dr. Daniel Myran, a physician and researcher at the University of Ottawa, supports adopting similar national limits on THC, along with better labeling and pricing structures that discourage ultra-potent products.

Leading marijuana firms like Aurora Cannabis Inc. (NASDAQ: ACB) (TSX: ACB) could provide valuable input when the country decides to receive feedback on how best to address the possible harms arising from the increasingly potent marijuana products available in the country.

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420 with CNW — Delaware Governor Ponders Whether to Sign Marijuana Zoning Bill into Law

As Delaware gears up to launch adult-use cannabis sales next month, a bill under consideration could shift the balance of power between state and local governments when it comes to cannabis zoning. Governor Matt Meyer is currently reviewing Senate Bill 75, which would establish statewide zoning rules for marijuana businesses and override local regulations.

Meyer acknowledged the conflict between two priorities. On one side, he wants to ensure the new cannabis market gets off the ground quickly. But as a former county executive, he also recognizes how important it is for cities and counties to maintain control over land use decisions. He noted that he was having conversations with various stakeholders to reach an agreement.

Meyer has several options on SB 75: he can approve it, veto it, or allow it to pass into law without signing it.

SB 75 is backed by Senator Trey Paradee, who also championed the original legalization push. The proposed law would set statewide zoning rules for marijuana businesses, effectively overriding existing regulations in the state’s three counties. Supporters argue this step is necessary to prevent local governments from placing excessive restrictions that could limit public access to legal cannabis.

Sussex County, for instance, currently requires dispensaries to be at least three miles away from schools, churches, and rehab centers. The new bill would lower that requirement to 500 feet and ensure dispensaries aren’t clustered closer than half a mile from each other.

Meyer recognized the concerns of local officials, noting that counties are typically responsible for deciding what types of businesses are appropriate in certain areas. “Land use has always been a core responsibility of local governments,” he said.

Councilmember Janet Kilpatrick from Newcastle County voiced strong opposition to the bill, arguing that the state should either handle all zoning issues or leave it entirely to local authorities. “We can’t have the state stepping in only when it wants control over specific industries,” she said.

Retail cannabis sales in Delaware are scheduled to begin on August 1. Thirteen shops are expected to open on day one, with a total of 30 planned in the months ahead. All of the state’s current medical cannabis dispensaries will also sell to recreational customers.

When asked during a recent radio interview why the launch has been delayed, Meyer said the choice was between waiting even longer or allowing medical dispensaries to take the lead since they were already set up to begin selling.

The broader marijuana industry, including key players like Trulieve Cannabis Corp. (CNX: TRUL) (OTCQX: TCNNF), hope that the market launch proceeds as scheduled in Delaware and residents can access approved adult-use products without having to travel long distances.

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