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The implications of Attorney General Jeff Sessions’ (R) decision to rescind the Cole Memo, which protected state legal cannabis from federal prosecution, continue to ripple through the industry and U.S. politics. Some Trump supporters say the move is the “first time they feel let down by the man they helped elect,” the AP reports.
Colorado Sen. Cory Gardner (R), who has pledged to hold up Justice Department nominees if his state’s cannabis industry isn’t secure, got nowhere in a Wednesday meeting with Sessions. The Washington Post reports Sessions’ move could be a headache for Republicans during this year’s midterm elections.
The state predicts 1M pounds of legal weed will be sold during the first budget year, worth $3.4 billion and generating $643M in taxes (roughly half of percent of the state’s budget.) The one million pounds is less than 10% of the 13.5M pounds California growers produced in 2016.
Cannabis Business Executive published Kayvan Khalatbari’s Decemberresignationemail from the National Cannabis Industry Association (NCIA) board. In the email, Khalatbari, who’s under an NDA, expressed serious concerns about Executive Director Aaron Smith. Since it’s not clear if Smith has had the chance to respond I won’t reprint it here. As Khalatbari departed in December, Smith said the group was stronger and stabler than ever before. (NCIA did not respond to WeedWeek’s Friday night request for comment.)
Anyone familiar with the situation who wants to talk on background can contact me