Inside Cannabis - July 29th, 2019

Inside Cannabis (Jul 29th, 2019)

Cuomo Signs Decrim Bill / Canada Will Vape / Pot Stocks For Pensions

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1. New York Gov. Andrew Cuomo has signed the decriminalization bill. State legislators famously failed to pass a recreational marijuana bill in June, but quickly put together a decriminalization and expungement measure as sort of a consolation prize. That measure got its official seal of approval Monday morning, as Gov. Cuomo signed the bill that makes possession of up to two ounces punishable by just a fine of up to $200 and no jail time. The bill becomes New York law in 30 days. — MARIJUANA MOMENT

2. Canadian companies are preparing to sell cannabis vape oil pens and cartridges. Canada is taking baby steps in rolling out its full recreational market, and will not allow the sales of edibles, topicals, and vape oil cartridges until mid-December. The vape cartridges are expected to be the most lucrative and popular of these, as they currently are in the U.S. That’s why Canadian cannabis firms are striking deals with tobacco companies that have a foothold in the nicotine vaping market, like Friday’s announced $123 million investment in Auxly Cannabis Group by British tobacco firm Imperial Brands. — CBC

3. More than a dozen state pension funds have invested in a California marijuana trust. A total of 16 public pension funds are now invested in a California real estate trust called Industrial Properties, which leases land to cannabis firms. The larger pension funds invested in the trust include the New York State Common Retirement Fund, California State Teachers Retirement System, and the Texas Permanent School Fund. — MJ BIZ DAILY 

4. A few Illinois towns are pushing back against recreational marijuana. Adult-use marijuana laws kick in on Jan. 1, 2020, in Illinois, and communities have until then to opt out of allowing recreational sales. So far, Bloomingdale, Libertyville, and Naperville have done so, while Bannockburn, Deerfield, Mokena, and North Aurora are considering recreational dispensary bans. — CRAIN’S CHICAGO BUSINESS

5. Today is the deadline for Los Angeles cannabis equity applicants. More than 1,200 equity candidates who meet the criteria of being low-income or having low-level marijuana crimes on their record have applied, with hundreds more expected before today’s 4 p.m. PT deadline. — KFI AM

6. A European Medicines Agency (EMA) committee is recommending approval of a CBD drug for epilepsy. The EMA’s Committee for Medicinal Products for Human Use voted to recommend GW Pharmaceuticals’ CBD product Epidyolex for epilepsy patients, with final approval scheduled for a September vote. — PHARMACEUTICAL JOURNAL

7. Traffic stops and searches reportedly are way down in Vermont since marijuana was legalized. A Burlington police report found traffic stops are down a full 70 percent in the city since last year’s adult-use law took effect, and the decline is consistent among all races and demographics. — WCAX

8. Pot is more popular than free college or a $15 minimum wage. A Marist poll conducted nationally finds 63 percent of those surveyed support legal marijuana, far higher than the number that supports other causes like background checks for gun purchases, free college tuition, and universal basic income. — BOSTON GLOBE

9. An Oklahoma dispensary has been sued for trademark infringement by a children’s television show. The logos of Canadian kids’ show Treehouse Originals and Oklahoma storefront Treehouse Dispensary, have several similarities, as Leafly points out. Nelvana Productions, which also produces The Fairly Oddparents and The Magic Schoolbus, is seeking financial damages and wants an Oklahoma court to order all cannabis products found to be infringing on its logo to be destroyed.  — LEAFLY

10. Michael Moore says weed is the way to beat Donald Trump in 2020. The documentary filmmaker says putting cannabis initiatives on the ballot in swing states like Michigan and Wisconsin will increase youth turnout and defeat Trump. — CIVILIZED 

Joe Kukura has been the cannabis writer for SF Weekly since 2016, and his work has appeared in Thrillist, the Daily Dot, and NBC Bay Area. You can follow him on Twitter at @ExercisingDrunk.

Edited by: Kim Lyons (Pittsburgh-based journalist and managing editor at Inside).

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