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The Week In Weed: January 27, 2023 –

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Welcome back to The Week in Weed, your Friday look at
what’s happening in the world of legalized marijuana.

This week, we see that the U.S. Virgin Islands legalized
cannabis for adult use. Mississippi saw its first medical marijuana
sale. Will Delaware pass a legalization bill this year – color us
skeptical. The FDA released guidance on cannabis-derived drugs. And
finally, if you’re looking to buy an American flag, you might
consider one made of hemp.

U.S. VIRGIN ISLANDS

USVI Governor Albert Bryan signed a bill
legalizing adult use of cannabis late last week. Now, the hard work
of regulation begins. Estimates for how long that process could
take run from 18 months to five years, so don’t hold your
breath. Expungement of simple cannabis convictions are part of the
new law, and the Governor pardoned those convicted at the bill
signing ceremony.

MISSISSIPPI

We’ve been reporting on Mississippi’s medical
marijuana journey for a quite a while now. It was full of twists
and turns and many times, one wondered if it would ever lead to a
legal sale. Well, patience has finally been rewarded. On Wednesday, the first medical cannabis
transaction happened, although even that was hindered at first by a
glitch in the point of sale system. But perseverance won the day,
and the market is official open for business.

DELAWARE

Another Delaware legislative session, another attempt
at legalizing cannabis. With a legal market to the north in New
Jersey and another about to open up to the south in Maryland, the
geography is in the law’s favor. The problem? Any bill dealing
with tax and revenue (which the bill dealing with setting up a
market does) has to pass by a super-majority. If the sponsors get
over that hurdle, Governor John Carney (D) opposes full
legalization. Of course, even unlikely things do happen (see the
Mississippi piece above), but it seems like a long shot.

FOOD AND DRUG ADMINISTRATION

If you’re a scientist looking to do research on drugs
derived from cannabis or hemp, you need to check out this notice from the Federal Register. The
guidance discusses approved sources of cannabis, and
how to distinguish between hemp and marijuana. What it doesn’t
do is provide rules for marketing. Expect a Congressional hearting
on that topic.

AND FINALLY

The North Dakota House of Representatives approved
a resolution this week encouraging residents to purchase American
flags made out of hemp. The resolution indicates that the first
American flags were made of hemp and that the material is durable.
Thinking of burning a hemp flag in a political protest? The
resolution’s sponsor says there will be no
“smell-related” problems.

Stay safe and be well everyone – we’ll see you next
week!

The content of this article is intended to provide a general
guide to the subject matter. Specialist advice should be sought
about your specific circumstances.

POPULAR ARTICLES ON: Cannabis & Hemp from United States

2023 Estate, Gift, And GST Tax Changes

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The Internal Revenue Services has announced the inflation-adjusted figures for estate, gift, and generation-skipping transfer (“GST”) tax exemptions for 2023.

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