The latest update in the cannabis industry as of November 2024:

State-Level Cannabis Legalization Efforts 1. Florida: Amendment 3 • This amendment proposes to legalize recreational cannabis for adults aged 21 and older. • It allows individuals to purchase and possess up to 3 ounces of cannabis, with a 5-gram limit on concentrates. • Support for the measure appears strong, with recent polls suggesting it may surpass the 60% voter approval threshold required for constitutional amendments  . 2. Arkansas: Medical Marijuana Expansion • A measure on the ballot aims to broaden the state’s medical marijuana program by: • Allowing home cultivation (up to 7 mature and 7 immature plants per patient). • Introducing telehealth services for medical cannabis consultations. • Expanding the scope of conditions that qualify for medical marijuana use. • It also seeks to legalize recreational marijuana contingent on federal descheduling . 3. North and South Dakota: Recreational Cannabis • Both states are voting on measures to legalize recreational cannabis: • North Dakota: Measure 5 allows adults 21+ to possess up to 1 ounce of cannabis, 4 grams of concentrate, and 300 milligrams of edibles. It includes provisions for regulated sales. • South Dakota: Measure 29 revisits recreational cannabis after a prior approval was overturned. It would permit possession of up to 2 ounces and home cultivation of up to 12 plants for personal use  . These efforts reflect a broader trend toward cannabis reform in both medical and recreational contexts. Let me know if you’d like more details on any of these initiatives! Federal Developments in Cannabis Regulation 1. USDA’s Hemp Testing Deadline Extension • The U.S. Department of Agriculture (USDA) has postponed the requirement for hemp products to undergo testing at DEA-registered labs for another year. This delay aims to address concerns from stakeholders about the limited number of approved labs and the associated challenges for compliance  . 2. Postponement of DEA Hearing on Cannabis Rescheduling • The Drug Enforcement Administration (DEA) has delayed a hearing on cannabis rescheduling until early 2025. The hearing is part of the federal review process to determine whether cannabis should remain a Schedule I substance or be moved to a lower schedule, which would impact regulations and access nationwide. The delay could have significant implications for cannabis reform advocates and the industry  . These developments reflect continued federal scrutiny and gradual shifts in cannabis policy. Let me know if you’d like further clarification or updates on these issues! Business and Industry News in Cannabis 1. Florida Approves New Dispensary Licenses • The Florida Office of Medical Marijuana Use has issued 22 new licenses for medical marijuana dispensaries. This expansion is part of the state’s efforts to meet growing demand as more residents qualify for medical cannabis use. The move reflects Florida’s position as one of the fastest-growing medical marijuana markets in the U.S.  . 2. Ransomware Threats in the Cannabis Sector • The cannabis industry has seen a spike in ransomware attacks, with cybercriminal groups like Everest targeting businesses. Experts attribute the sector’s vulnerabilities to regulatory complexity, fragmented systems, and the industry’s limited access to traditional banking services. Companies are being urged to strengthen cybersecurity to protect sensitive data . These updates highlight both the industry’s growth potential and the challenges it faces. If you’d like to explore either topic further, let me know! Local Decriminalization Initiatives in Texas 1. Dallas, Texas • Voters are deciding on an initiative to decriminalize the possession of small amounts of marijuana. If passed, individuals caught with up to 4 ounces of marijuana would receive a citation rather than face criminal charges. • This measure aligns with efforts in other Texas cities to reduce penalties for cannabis possession, despite state-level resistance. 2. Lockhart, Texas • A similar decriminalization measure is on the ballot in Lockhart, a smaller city in Texas. The initiative mirrors Dallas’s approach, seeking to shift from criminal prosecution to issuing citations for possession of up to 4 ounces of marijuana . These measures are part of a growing trend in Texas where localities are taking independent steps to reform marijuana laws, often facing legal challenges from state officials. Let me know if you’d like more details about these or other related initiatives!