Cannabis News of Note for the Week:

Politico Pro Cannabis (2/23): Approps Watch (paywalled newsletter, text below)

Cannabis Wire Daily (2/21): Bank of Guam says it will start working with cannabis (paywalled newsletter, text below)

Politico Pro Cannabis (2/21): California Launches Data Portal (paywalled newsletter, text below)

CRB Monitor News: $17M Eaze Penalty Casts Dark Shadow on Cannabis Credit Card Payments

CRB Monitor News: Massachusetts Cannabis Regulators Plan to Address Growing Vendor Debt


Politico Pro Cannabis (2/23): APPROPS WATCH —The appropriations process is getting down to the wire — AGAIN. Congress was looking at 12 separate appropriations bills that it would need to pass in a very short amount of time, but that plan may be on the rocks. Leadership is reportedly now looking at combining them into two or three “minibusses,” according to Fox News.

What does this mean for cannabis? There are always a wide range of cannabis add-ons in the appropriations process. Some, like protections for the medical marijuana industry or a rider that prohibits Washington, D.C. from taxing and regulating an adult use marijuana industry, are the least likely to be removed.

There is a chance, though, that the cannabis banking bill could be attached as an amendment to the financial services appropriations bill. In addition, different research provisions and cannabis use protections could be suggested for the VA approps bill. And even the energy and natural resources appropriations language has had amendments proposed to increase funding for cleanup of illegal cannabis grows on federal land.

The way the approps process shakes out will have a big impact on whether cannabis-related provisions get added … With an omnibus or a minibus, it is easier to slip in smaller bills that are less related to the main topic. But at the same time it’s easier for relevant bipartisan amendments to get thrown out because the process gets too cumbersome or because they were introduced by a lawmaker in the minority party.

A process that allows more time for consideration of appropriations bills, meanwhile, makes it less likely that something tangential will sneak in.


Politico Pro Cannabis Newsletter (2/21):

Silver Spike Investment Corp., a New York-based cannabis investment firm, is acquiring the loan portfolio of Chicago Atlantic, a Chicago-based cannabis investment firm.

CALIFORNIA LAUNCHES DATA PORTAL — The California Department of Cannabis Control today launches a portal for all of that shiny data you may have wanted to get your hands on. Natalie got a preview of the website on Tuesday ahead of the launch, which includes detailed data on licensing, sales and the cannabis harvest.

The DCC told POLITICO they launched the portal because they were sitting on a mountain of useful data that reporters, people working in the policy space, and even licensees would want to see. It can inform better coverage and business decisions.

Here are some of the data POLITICO requested that can be found in the portal:

3907 — The number of provisional licenses currently issued in California

5,776 — The number of annual licenses currently issued in California

38 — The number of annual license holders not in operation

5,015 — The number of cultivation licenses currently issued in California

1,850 — The number of cultivation licenses that are for small outdoor grows

318 — The number of cultivation licenses that are for specialty indoor grows

1,285 — The number of distributor licenses currently issued in California

150 — The number of distributor licenses that are for transportation

Cannabis Wire Daily (2/21): Bank of Guam says it will start working with cannabis. 

The bank announced this week that it will begin providing services to the cannabis industry in Guam and the Northern Mariana Islands. Both U.S. territories have legalized cannabis for medical and adult use.

“We are committed to extending our expertise as trusted financial advisors to this new industry and to allow our local Cannabis-Related Businesses who follow the process and play by the rules, a fair chance to succeed,” said Joaquin Cook, president and CEO of the bank.