Dentons – Cannabis Client Alert – May 2022

Dentons – Cannabis Client Alert – May 2022

In this week’s edition: Large Majority of Americans Favor Legal Recreational Cannabis Under Federal Law Garland Tells Lawmakers DOJ’s Approach to Cannabis Unchanged Study Shows Medical Cannabis Use Has Positive Impact on Anxiety and Depression FDA Issues Warning Letters to Companies Illegally Selling CBD and Delta-8 THC Products              Federal Large Majority of Americans Favor Legal Recreational Cannabis Under Federal Law – Nearly two-thirds of Americans want recreational cannabis use to be legal under federal law and in their own state. In light of these attitudes, it’s no surprise that the US House of Representatives recently passed a bill to federally decriminalize cannabis. Most Senators Still Oppose Doing a Hugely Popular Thing: Legalizing Cannabis – Even though a majority of Americans say cannabis should be legal for adults and the House of Representatives has passed a bill to legalize it, it is unlikely the Senate will jump on the bandwagon. Multiple Republican and Democratic senators continue to oppose cannabis legalization. Momentum Builds in Senate for Passing SAFE Act – Bipartisan support in the Senate grows for passage of the SAFE Banking Act, which would facilitate banking access for cannabis companies. Access to banking is a well-known issue for the cannabis industry and the repeated efforts to obtain the bill’s congressional passage over the past few years remains a hot topic for industry insiders and participants. Senator Patty Murray (D-WA) is currently leading a push to include it in a sweeping package intended to help resolve the country’s ongoing supply chain issues. Bankers Associations From All 50 States Push Senate to Pass Cannabis Banking Reform – In a letter to Senate leaders last week, the American Bankers Association (ABA) and state counterparts stated that the Secure and Fair Enforcement (SAFE) Banking Act is an “urgently needed, and widely supported, bipartisan legislative solution” to the ongoing banking…

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Source : Dentons – Cannabis Client Alert – May 2022

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