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KEY INDUSTRY & POLITICAL NEWS
Federal Spending Bill
Developments at the Federal level are always important for the cannabis industry in the United States. In the month of December, the U.S. House and Senate agreed to introduce a few spending bills that are related to CBD, hemp, and marijuana.
On the other hand, New Jersey decided to hold an adult-use marijuana legalization referendum in 2021 and a list of approved pesticides meant for the hemp industry was published by the EPA in a list. On the other hand, Steve Barnett, the South Dakota Secretary stated that an initial measure on marijuana legalization has been filed after validation.
With regards to the spending bill, the lawmakers agreed on spending packed of as much as $1.4 trillion and out of that government spending package for 2020, some of it will affect the cannabis industry. The spending bill has earmarked $2 million to the FDA and the USDA for research, policy, and issues related to enforcement discretion for the hemp CBD industry.
Last but not least, the U.S. Department of Agriculture also announced that hemp farmers spread across 20 states in the country will be able to avail of crop insurance. It is a pilot project.
Illinois Erases Weed Convictions
Another positive development that came about in December was the decision by the state of Illinois to erase pot-related offenses from records. The decision was reached in light of the fact that Illinois has legalized marijuana in the state since January 1.
US Cannabis
Market Summary
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