How A Cannabis Bill Stopped Being About Weed and More

In the days of the Armada, a fleet of warships, the scuttlebutt was the rumor or gossip that would spread throughout the ship. Today, Armada Law Corp presents The Scuttlebutt, a daily summery of news articles that people within the cannabis, hemp and plant medicine industries are chatting about along with links to the full articles.

In today’s news:

The Evolving Cannabis Industry in New York: Final Regulations and the True Party of Interest Rule

#cannabisregulation – “On September 12, the New York Cannabis Control Board (CCB) approved final regulations governing the adult-use cannabis industry in New York,[1] marking a long-awaited moment for industry participants and state regulators alike. The CCB’s approval signifies a significant step forward for the state’s cannabis market. The regulations are designed to govern all aspects of the industry, from cultivation and processing to distribution, retail, on-site consumption, and delivery services. Among these regulations, one rule stands out for its complexity and potential impact on industry participants: the definition of a “true party of interest.”

To fully understand the implications, one must appreciate the state’s decision to split the industry into two overarching tiers: cultivation and retail. Generally, individuals are prohibited from participating in both cultivation and retail business activities in New York….”

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How a cannabis bill stopped being about weed

#cannabispolitics – “Republicans were on the cusp of helping Democrats pass a landmark cannabis bill. Now a GOP feud over guns, oil and cryptocurrency may blow it all up.

The bill at issue — more than a decade in the making — is designed to make it easier for banks to serve the marijuana industry in states where the drug is legal. But Republicans are threatening to sink the measure over what was meant to be a conservative sweetener: a set of protections for businesses like gun sellers and other industries GOP lawmakers say face unfair scrutiny under Democratic….”

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The Cresco And Columbia Care Fallout: How Credit Monitoring Could Have Prevented It

#cannabisacquisition – “Partnerships, collaborations, mergers, and acquisitions can pave the way for growth and innovation in the rapidly evolving landscape of the cannabis industry. However, as the recent Cresco and Columbia Care fallout demonstrated, even the most promising partnerships can crumble if not carefully managed. Without a certain level of transparency, and a way to know what potential misalignments might exist ahead, the two industry giants were forced to cancel their partnership after 16 months of “dating.”

Cresco and Columbia Care were able to do some due diligence on each other, but there was no objective third-party risk estimator. Further, there was no cogent post-transaction integration plan. Neither had a data source accessible that could analyze both businesses and all of their respective subparts to determine overall health and risk profiles….”

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‘We’re Not Trolls,’ Bong Co. That Filed 850 IP Suits Tells Judge

#cannabislawsuit – “A California-based bong maker that has filed hundreds of nearly identical trademark lawsuits against smoke shops and other retailers around the country told a Colorado federal magistrate judge Tuesday that its voluminous litigation efforts are a sincere effort to stamp out trademark infringement that is strangling its business.

U.S. Magistrate Judge N. Reid Neureiter asked bong maker GS Holistic LLC to come into court Tuesday to explain why he shouldn’t stay the more than 40 such trademark cases the company filed in Colorado until the company showed that it had actually reached out to the numerous defendants to try to resolve the dispute in good faith.

“We’re not trolls,” attorney Peter Ticktin of The Ticktin Law Group, representing GS Holistic, told Judge Neureiter in Denver Tuesday. Ticktin told Law360 that the company has filed about 850 of these trademark suits and about 300 of them have settled.

The lawsuits allege retailers are selling counterfeit versions of GS Holistic’s Stündenglass-branded glass infusers, or gravity bongs, and a rotating glass hookah called the “G-Pen.””

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Psychedelic mushrooms and quiet quitting: Psilocybin use tied to working fewer overtime hours

#psilocybin – “A recent scientific study has uncovered an intriguing connection between the use of psilocybin, the psychoactive compound found in certain “magic” mushrooms, and reduced overtime work among full-time employees. While the study’s findings aren’t conclusive proof of causation, they shed light on how psychedelic substances might influence work habits. The research has been published in the Journal of Psychoactive Drugs.

In recent years, there has been a resurgence of interest in the potential therapeutic benefits of psilocybin, with ongoing research exploring its role in treating mental health conditions such as depression and anxiety. However, less attention has been paid to how these substances might influence everyday aspects of life, including our work habits and so-called “quiet quitting.””

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The VISIONS Act, Psilocybin and Federal Enforcement

#psychedelicspolitics – “Perhaps inevitably, lawmakers introduced a very skinny bill last week to protect states that legalize psilocybin from federal intervention. Specifically, it requires that:

[n]o Federal funds may be used to prevent any State or unit of local government from implementing such State’s or unit of local government’s own laws that authorize the use, distribution, sale, possession, research or cultivation of psilocybin.

So it’s a spending bill prohibition, like the Rohrabacher-Blumenauer amendment for medical cannabis. And Earl Blumenauer (D-OR) is in fact sponsoring this new law, along with Robert Garcia (D-CA). That’s it for now, though we expect the bill to pick up some support in the coming weeks and months….”

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United States: New California State Law Addresses Noncompete Agreements

#cannabiscontracts – “As most companies are aware, absent specific exceptions, under California Business and Professions Code (Code) Section 16600, California generally prohibits employers from entering into contracts with employees that preclude those employees from engaging in a lawful profession, trade, or business of any kind. These contracts are generally referred to as “noncompete agreements.”

Notwithstanding existing laws on the subject, on September 1, 2023, Governor Gavin Newsom signed California’s Senate Bill 699 related to noncompete agreements. Specifically, SB 699 prevents employers from enforcing contracts that are void under Code Section 16600, regardless of whether the contracts were signed outside of California. SB 699 provides that “an employer or former employer shall not attempt to enforce a contract that is void under this chapter regardless of whether the contract was signed, and the employment was maintained outside of California.” Section 1 of SB 699 also states that “California has a strong interest in protecting the freedom of movement of persons whom California-based employers wish to employ to provide services in California, regardless of the person’s state of residence. This freedom of employment is paramount to competitive business interests.” It is unclear how SB 699 will be interpreted…”

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Mechanisms and molecular targets surrounding the potential therapeutic effects of psychedelics

#psychedelics – “Psychedelics, also known as classical hallucinogens, have been investigated for decades due to their potential therapeutic effects in the treatment of neuropsychiatric and substance use disorders. The results from clinical trials have shown promise for the use of psychedelics to alleviate symptoms of depression and anxiety, as well as to promote substantial decreases in the use of nicotine and alcohol….”

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