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:
#cannabispolitics – “Seeking Alpha reports that a group of GOP lawmakers in the U.S. House of Representatives has put forward the first cannabis bill for the newly formed 118th Congress.
The bill is seeking to amend federal law related to firearm sales to medical cannabis users. AS the law stands currently, users of either recreational or medical cannabis are prohibited from purchasing or possessing guns.
It is being sponsored by Rep. Alex Mooney (R-WV) and co-sponsored by Rep. Thomas Massie (R-KY) and Rep. Brian Mast (R-FL), who serves as a co-chair of the Congressional Cannabis Caucus. Further details on the bill have not been published.”
#psychedelics – “The global market for psychedelic drugs including psilocybin, ketamine, and LSD is expected to grow to nearly $12 billion per year before 2030, according to data from a recent market analysis. In a report released last Thursday, Brandessence Market Research revealed that the psychedelic drug market is anticipated to reach a valuation of $11.82 billion by 2029, growing from an estimated $4.87 billion in 2022.
The report shows the global market for psychedelic drugs expanding at a compound annual growth rate (CAGR) of 13.49% over the next six years. The market includes several psychedelic drugs being used or researched as treatments for a wide range of mental health disorders, including psilocybin, LSD, ketamine, MDMA, GHB, and others.”
#californiacannabis – “In a unanimous published opinion, the three-judge circuit panel found that the appellants, Francine Shulman and companies Iron Angel LLC and 3F Inc., had shown an injury and had Article III standing, but lacked statutory standing under the federal Racketeer Influenced and Corrupt Organizations Act…
The appeal upholds an order issued by U.S. District Judge Andre Birotte, who dismissed Shulman’s $200 million civil racketeering suit in October 2020.
Shulman alleged that defendant Todd Kaplan and his partners plotted to steal 1,500 acres of Santa Barbara County farmland by lying about their expertise and funding, then inducing her to sign a lease agreement which she said allowed them to oust her from her property. Shulman brought claims under the RICO Act.
Kaplan and the other defendants urged the court to toss the suit, arguing it was an “elaborate tale of scheming and conspiracy” spun to bring claims under racketeering laws, and federal law does not recognize cannabis operations as protected entities.”
#cannabis – “British law enforcement officers announced Wednesday they arrested two more Americans who allegedly brought cannabis from Los Angeles to London in checked baggage, bringing the number of such arrests to double digits.
The day prior, the United Kingdom’s National Crime Agency announced they had arrested nine people for their accused smuggling of more than 340 kilograms — about 750 pounds — of cannabis worth $6.7 million (or £5.5 million).
With the newest pair of arrests at Heathrow Airport, the total number of arrests stands at 11 and the total confiscated amount of cannabis is more than 400 kilograms, or about 880 pounds, the NCA said in a news release.”
#californiacannabis – “After gaining access, the thieves broke through as many as seven interior doors, damaging retail shelves and lighting, Monday said. They took an estimated $16,000 in cash, as well as cannabis products valued at as much as $30,000, he added.
Police were notified of an activated alarm and a burglary around 3:15 a.m. They found an “unknown tool was used to force open a door” on scene, according to Santa Rosa police Sgt. Ryan Cogbill.”
#cannabisindustry – “The governor of the U.S. Virgin Islands (USVI) has officially signed a pair of bills to legalize marijuana and facilitate cannabis expungements in the territory, making it the latest jurisdiction in the country to end prohibition.
Gov. Albert Bryan Jr. (D) signed the legislation, sponsored by Sen. Janelle Sarauw (I), just before a 10-day deadline for action. He also took the opportunity to issue a proclamation allowing people to petition for pardons for prior cannabis possession convictions.
“From the beginning of the Bryan-Roach Administration, we have worked towards the legalization of the adult use of cannabis, and today, with the hard work of the members of the 34th Legislature and prior Legislatures and the efforts of my team, we are finally here and finally signing into law the Virgin Islands Cannabis Use Act,” the governor, who released his own legalization proposal in 2019, said.”