[author: Susan Ryan]

Welcome back to The Week in Weed, your Friday look at what’s happening in the world of legalized marijuana. First, we have an update on the Missouri rules dealing with intoxicating hemp products. Then, we see the Congressional Research Service has put out a report on cannabis banking. We check in on Nebraska, where medical marijuana may appear on the November ballot. And finally, Colorado allows drivers to display cannabis-themed license plates.

MISSOURI

Last week, we noted that Missouri governor Mike Parsons (R), issued an executive order on intoxicating hemp products that required emergency rulemaking to implement. The Secretary of State, Jay Ashcroft (R) denied the rulemaking, and Parsons sent the rulemaking through again. Late last week, Ashcroft denied the rules again, but that’s not stopping the state’s Department of Health and Senior Services (DHSS) from implementing the rules anyway. And these are very strict rules; even products with less than a 0.3% THC level will be banned, unless they come from an approved source.

CANNABIS BANKING

One of the advantages of moving cannabis from Schedule I to Schedule III is that it would allow the industry to participate in the country’s banking system. But would it? The Congressional Research Service (CRS) has released a report indicating that, without additional action by Congress, financial services providers are unlikely to open their doors to the cannabis industry.

…rescheduling marijuana as DOJ has proposed is unlikely by itself to eliminate the legal risks of financial institutions serving marijuana businesses and, thus, might not significantly increase marijuana businesses’ access to financial services

Effect of Rescheduling Marijuana on Access to Financial Services, August 2024

NEBRASKA

Nebraskans for Medical Marijuana have reason to believe that their two proposals (one that would legalize cannabis for medical use and one that would set up a regulatory system in the state) will appear on November’s ballot. The group turned in more than enough signatures for both initiatives, and has met the threshold to get on the ballot. Pursuant to state law, election officials will continue counting signatures until they reach 110% of the number needed.

AND FINALLY

Colorado has long been a leader in all things cannabis, and the state’s DMV is no exception. Each year, the state auctions off the rights to cannabis-themed license plates. This year, residents were able to bid on 10 different options, including NUGGET, COHEMP, REEFER and GRASS. Proceeds go to the Colorado Disability Funding Committee.

Be well everyone; we’ll see you next week.