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U.S. President Joe Biden, whose October 2022 executive order launched marijuana rescheduling, will be the Democratic Party’s nominee for president.

At least that’s what Biden has said repeatedly since his performance in a June 27 debate against presumptive Republican challenger and former President Donald Trump heightened concerns about the 81-year-old incumbent's age and mental acuity.

A miniature revolt ensued among donors and major Democratic Party figures, some of whom are considering possible replacements amid concerning poll numbers that suggest Trump could win a second nonconsecutive term handily.

Despite public calls for Biden to drop out of the race, he says he is staying in.

But some major Democrats still are hedging their bets, worried that if Biden loses, Trump could torch the president's legacy - including marijuana rescheduling.

If Biden does change his mind and bows out, who would his likely replacements be? And what are their records on marijuana? MJBizDaily takes a look into the prospects. Read story >

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Legalization news, market updates, investment and more

California MJ operators pivot to comply with new vape law

Photo courtesy of Final Bell Holdings

California cannabis brands and retailers are implementing new initiatives for vape packaging and disposal in response to a state law that went into effect July 1.

New requirements under California Business and Professional Code 26152.1, include:

• A ban on using the term “disposable” to describe marijuana vape products in advertising, labeling and marketing.
• Mandating that THC oil, vape pens and batteries be disposed of at hazardous waste collection facilities or other approved business.

The burden of disposing of defective, returned or used vape products likely will now fall on retailers. Read story >

SNDL acquires Delta 9 Cannabis debt, agrees to buy Indiva

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Canadian marijuana and alcohol company SNDL has acquired the debt of Delta 9 Cannabis for 28.1 Canadian dollars ($20.6 million) and entered a stalking-horse agreement to purchase distressed edibles maker Indiva.

In the Indiva acquisition, SNDL agreed to buy "all of the issued and outstanding shares of Indiva and the business and assets of the Indiva Group" for an estimated CA$25 million-CA$28 million. Read story >  

Delaware to allow medical marijuana operators to convert to adult use for $200K

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Delaware adult-use marijuana sales will begin by April 2025 if Gov. Jay Carney signs four bills passed by the state Legislature, regulators say.

One of the bills would allow existing medical cannabis operators to convert to recreational sales after paying a $200,000 fee. Read story > 

More Headlines

• Maryland’s total marijuana sales surpass $1 billion in first year of adult use. Read story >

• What tax deductions will be available to marijuana companies if 280E disappears? Read story >

•  Nevada deems 60% of cannabis social equity lounge applicants ineligible. Read story >

• Judge keeps Alabama medical marijuana licensing on hold. Read story >

• Several finance-related cannabis awards up for grabs at Emjays. Read story >

• Latest Cookies lawsuit claims $2 million unpaid in Massachusetts marijuana deal. Read story >

• Republican opposition defeats North Carolina medical cannabis again. Read story >

• New Connecticut law restricts THC beverage sales to liquor, cannabis stores. Read story >

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