Ven Viswanathan’s Post

🌿 Cannabis Rescheduling FAQ: What Now? 🌿 The DEA’s proposal to reclassify cannabis from Schedule I to Schedule III under the Controlled Substances Act (CSA) is a significant development, though the process is still ongoing and could face various challenges before finalization. While this move aligns with the Department of Health and Human Services’ (HHS) recommendations, it does not legalize cannabis federally. 🚀 Jonathan Havens, managing partner at Saul Ewing, emphasizes the importance of this potential change, highlighting it as the most significant federal reform since the CSA’s enactment. He notes that the rulemaking process is swift by Washington standards but still complex, with a public comment period and potential legal challenges expected. 💼 Rescheduling cannabis to Schedule III would alleviate some restrictions, notably removing the burdensome Internal Revenue Code Section 280E, allowing state-legal cannabis companies to take standard business tax deductions. However, it won’t fully integrate cannabis into the legal framework enjoyed by other industries like alcohol and tobacco. ⚖️ Legal experts like Sander Zagzebski caution that Schedule III reclassification won’t immediately normalize cannabis business operations. The industry would still face regulatory challenges, and banking legislation such as the SAFER Banking Act remains crucial. While rescheduling marks progress, comprehensive federal legalization and regulatory clarity are still needed. 📈 As a Cannabis Franchise Broker with Cannabis10X, I see this as a pivotal moment. We have numerous red-hot opportunities in the cannabis market. Reach out to me directly to capitalize on this rapidly growing sector and secure your investment in the future of cannabis. 🌱 #CannabisIndustry #CannabisInvestment #CannabisRescheduling #CannabisBusiness #CannabisReform Orginal art by: HaraLine

Cannabis Reform Advocates Push Trump for Federal Legalization Two major cannabis reform groups, the Marijuana Policy Project (MPP) and NORML, have urged President-elect Donald Trump to prioritize federal cannabis reforms during his upcoming term. In a detailed memo, the organizations outlined key proposals, including ending federal cannabis prohibition to allow states to set their own policies, protecting Second Amendment rights for cannabis consumers, ensuring banking access for cannabis businesses, and expanding clemency for individuals with federal cannabis-related convictions. They also advocated for removing barriers to cannabis research, restoring access to federal housing and employment for cannabis users, and permitting Washington, D.C., to establish an adult-use cannabis sales framework. Highlighting widespread public support for legalization, the memo cited the STATES Act 2.0 as a roadmap for sensible federal policy, which includes legalizing interstate commerce and normalizing tax regulations for the industry. The groups argued that ending prohibition would reduce federal overreach and empower states while ensuring safety and equity in cannabis regulation. Both MPP and NORML emphasized Trump’s opportunity to lead on a national level by modernizing outdated policies and advancing liberty through cannabis reform. #CannabisReform #EndCannabisProhibition #FederalCannabisPolicy #CannabisLegalization #CannabisRights

Free Webinar tomorrow: Can the California Cannabis Industry be Saved? Within the dynamic landscape of California, our firm stands at the forefront of an industry facing a pivotal moment of transformation. The challenges and complexities of the cannabis market are vast, presenting both hurdles and opportunities for innovation and regulatory reform. Join us on June 26, 2024, at 12:00 PM Pacific for a discussion about the future of California’s cannabis market. Our firm is proud to host this insightful webinar featuring industry visionaries Griffen Thorne and Hirsh Jain of Ananda Strategy, who will unpack the complexities and potential pathways for revitalizing the state's cannabis industry. Key Webinar Highlights: ✅ Regulatory Insights: Understand how current and proposed policies impact businesses at a granular level, and what it means for the future. ✅ Market Dynamics: A close look at sales trends and performance comparisons. Where does California stand, and what strategic moves can help bolster the industry’s growth? ✅ Taxation and its Tolls: Analyze the high taxation rates, their effect on the industry, and the potential impact of the proposed excise tax increase. ✅ Enforcement Challenges: An examination of enforcement efforts against illegal operations, the role of local control, and the critical need for systemic reform. Why You Should Attend: Valuable Insights: Gain a comprehensive understanding of the challenges and opportunities within the California cannabis market from leading experts. Strategic Directions: Learn about actionable strategies and innovative solutions aimed at promoting a sustainable and profitable legal cannabis market. Event Details: Can the California Cannabis Industry be Saved? 📅 Date: June 26, 2024 ⏲ Time: 12:00 PM Pacific Register Now: https://lnkd.in/gTGMpDvR We look forward to welcoming you to what promises to be an enlightening and forward-thinking discussion. Together, we can work towards a thriving, equitable cannabis future. 💚 #CannabisIndustry #CaliforniaCannabis #RegulatoryInsights #CannabisWebinar #FutureOfCannabis

🌿 The Future of Federal Cannabis Reform: What It Could Mean for the Industry 🌿 Big things are happening in the cannabis industry with the ongoing discussions around federal cannabis reform. As more states move toward legalization, there's a growing push for national changes that could reshape the entire landscape. Here are a few key potential impacts of federal reform: 🔸 Increased Access to Banking: One of the biggest challenges cannabis businesses face is limited access to banking services due to federal restrictions. Reform could open the doors to safer, more reliable financial services and loans. 🔸 Taxation and Revenue: Federal legalization could introduce new tax structures but also allow businesses to benefit from standard tax deductions, which are currently denied under federal law. 🔸 Interstate Commerce: With federal reform, businesses could expand across state lines, creating new opportunities for growth and innovation. 🔸 Research Expansion: National legalization would ease restrictions on cannabis research, providing the scientific community with better opportunities to study the plant’s potential medical and therapeutic benefits. While we still have a ways to go, these conversations are a positive sign for the industry's future. Let’s continue to stay informed and advocate for changes that will help cannabis businesses thrive while ensuring responsible use and safety. What do you think will be the biggest impact of federal reform on the cannabis industry? #CannabisNews #FederalReform #CannabisIndustry #CannabisLegislation #CannabisResearch #CannabisBusiness #BankingAccess

🚨California Legislative Update🚨 We’ve achieved significant milestones over the last two weeks in Sacramento, as two California Cannabis Industry Association-sponsored bills cleared the Assembly Business Professions Committee with unanimous support. 💸 AB 2888, authored by Assemblymember Phil Chen (R-Yorba Linda), addresses critical challenges faced by the cannabis industry, concerning timely payment processes. CCIA President Caren Woodson delivered compelling testimony urging the Committee's approval. "In a market characterized by limited access to banking services and a lack of viable payment channels, the cannabis industry faces substantial hurdles," stated Woodson during the Committee hearing. "AB 2888 is crucial for stabilizing and enforcing timely payment of invoices." 🍃 AB 2223, author by Assembly Majority Leader Cecilia Aguiar Curry (D-Winters), aims to rectify the regulatory disparities between the cannabis and hemp industries. In her testimony, President Caren Woodson, underscored the urgent need to address systemic challenges faced by the cannabis industry, emphasizing the detrimental impact of unregulated hemp products flooding the market.  "The proliferation of unchecked and duty-free hemp products has reached a fever pitch," remarked Woodson. " AB 2223 lays the important groundwork needed to re-imagine how we regulate cannabinoids for intoxication – regardless of whether they come from cannabis or hemp." Huge thank you to Amy O'Gorman Jenkins for her continued advocacy and leadership on behalf of CCIA and the industry. #cannabis #advocacy

🚀 **The Expanding Horizon of the Cannabis Industry: Navigating Growth and Regulations** 🌿 The cannabis industry in the United States is witnessing unprecedented growth, fueled by rising consumer demand and the steady legalization movement across multiple states. Here's a deep dive into some key takeaways from the latest trends and regulatory hurdles, shedding light on what the future may hold for this burgeoning market. **1️⃣ Industry Growth:** The legal cannabis market is expanding rapidly, signaling robust opportunities for businesses willing to navigate this dynamic landscape. The surge in consumer interest is undeniable, pushing the expansion boundaries ever wider. **2️⃣ Regulatory Challenges:** Despite the swift growth, regulatory hurdles remain a significant bottleneck. From banking restrictions (due to cannabis being federally illegal) to complex taxation systems and compliance issues, businesses face numerous operational challenges. These hurdles create an extra layer of complexity, particularly for smaller ventures and startups in the cannabis sector. **3️⃣ Federal vs. State Regulations:** The dichotomy between state legalization and federal prohibition creates a highly intricate regulatory web. States are charting their compliance courses while walking a tightrope around federal restrictions, making it imperative for businesses to stay deeply informed and agile. **4️⃣ Impact on Businesses:** Access to traditional banking remains a critical pain point, leading many cannabis businesses to operate on a cash-only basis. This not only imposes financial constraints but also adds layers of risk and complexity in financial management and transactions. **5️⃣ Future Prospects:** The horizon looks promising as the momentum for legalization continues. A clearer regulatory framework at both the state and federal levels could unlock new potentials and streamline operations, bolstering the industry's stability. Given the sustained consumer demand and anticipated legislative changes, the cannabis industry is set on a trajectory of continued growth. 🏷️ Key Points: - Rapid Market Expansion - Regulatory Hurdles - Federal vs. State Dichotomy - Banking & Financial Constraints - Promising Future Prospects The conversation around cannabis legalization is more relevant than ever. For industry players, stakeholders, and policymakers, navigating these complexities won't just be about compliance but about strategically positioning for sustained growth and innovation. 🔊 *Engage with us in the comments:* What are your thoughts on the evolving cannabis regulatory landscape? How do you foresee these challenges shaping the industry's future? Share your insights and let's drive the conversation forward! #CannabisIndustry #Regulations #IndustryGrowth #Legalization #CannabisBusiness #FutureTrends 🌱🚀

California's Cannabis Industry: Is the Golden State Losing its Green? #cannabisindustry #california California, once the undisputed king of cannabis, is facing a harsh new reality: its legal cannabis market is struggling. Despite high hopes and initial success, the industry is grappling with a multitude of challenges that threaten its future, and its crown is at risk. In fact, Michigan surpassed California as the largest cannabis market by sales volume in 2023, signaling a potential shift in the industry landscape. Key Challenges: Flourishing Illicit Market: A persistent illegal market continues to thrive, estimated to be twice the size of the legal one. This illicit trade undercuts legal businesses by offering cheaper products that bypass taxes and regulations. Declining Sales: The legal cannabis market in California is experiencing a concerning trend of declining sales. Projections indicate a 3.4% decrease in 2024 compared to the previous year. Regulatory and Enforcement Hurdles: The state faces significant challenges in effectively regulating the industry and enforcing compliance [source]. Product Safety Concerns: Recent investigations have revealed contaminated cannabis products within the legal market, raising serious concerns about consumer safety. High Taxes and Stifling Regulations: Legal cannabis businesses in California are burdened with high taxes and strict regulations, making it difficult to compete with the illicit market. Limited Access: Limited retail access remains a significant barrier. With a majority of cities and counties prohibiting cannabis businesses, many residents lack convenient access to legal dispensaries. The Path Forward: Addressing these challenges requires a multi-pronged approach. streamlining regulations, and reducing the tax burden on legal businesses are crucial steps. Furthermore, restoring consumer confidence through rigorous product testing and transparency is essential. The California cannabis industry stands at a crossroads. The choices made today will determine whether it reclaims its dominance or fades in the face of growing competition and internal challenges. What are your thoughts on the future of California's cannabis industry? Share your insights in the comments below. #cannabiscommunity #legalization #regulation #markettrends #consumerprotection

Cannabis companies have doubled their lobbying efforts in Washington, D.C., spending nearly $4 million in the first half of 2024, driven by growing interest in federal cannabis legislation and potential regulatory changes. This surge reflects a broader industry shift, with cannabis increasingly seen as a bipartisan issue and attracting attention from other sectors like tobacco and alcohol. Click below to learn more about what this means for the industry 👇 https://lnkd.in/eaY333PE

🌿 Exciting News for the Cannabis Industry (despite the negative stigma)🌿 🏛️DOJ Recommends Reclassifying Cannabis: The Department of Justice recommended reclassifying cannabis from Schedule 1 to Schedule 3, signaling potential changes in regulations, lending, and growth opportunities for the industry. 🌳Impact on Real Estate: Cannabis businesses face challenges accessing commercial properties due to banking restrictions and zoning disparities, impacting their growth potential and pushing them into less desirable locations with higher rents. 💰Tax Relief and Business Opportunities: Reclassification could provide relief from the heavy tax burden under Section 280E, potentially reducing effective tax rates for legal cannabis businesses from 80% to around 20%, encouraging further industry growth and legitimacy.