Racketeering in Oregon and New Zealand’s Push for Adult Cannabis

In Washington D.C., a temporary bill is enacted to protect MMJ patients from employment discrimination, without democratic Mayor Muriel Bowser’s signature. The law, which is similar to legislation passed in New York City, exempts certain public sector and safety-related jobs and will give lawmakers 225 days to come up with a more permanent policy.

In Oregon, a racketeering claim over cannabis odors is being allowed to proceed after the owners of a vineyard located next to a marijuana cultivator alleged a client cancelled an order from fear of grape contamination. The suit may prove significant, since although wafting odors have been a common complaint in RICO cases, courts have ruled that damages must be concrete and not speculative. Critics argue that the claims have ideological, as opposed to practical motives. Let us know what you think online at Cannabis Broadcast Station.

In California, authorities investigate a string of 10 local marijuana shop break-ins in Sacramento, with suspicions that they may be connected. The lack of banking services for cannabis businesses, which forces them to deal in cash, makes them primary targets for burglaries. The city’s police department says they’re taking measures to prevent future occurrences, but cite the need for banking reform.

In Oklahoma, new data reveals that regulators approved over 4,000 medical cannabis grower permits and almost 2,000 dispensary licenses in the first year of the state’s MMJ program, along with over 170,000 patients. They’re also implementing new rules, including residency requirements to promote local businesses. Experts anticipate the state’s market to reach up to 180 million dollars by the end of 2019.

In international finance, Tilray merges with its largest stockholder, Privateer Holdings, in an agreement which extends the lock-up and provides for the orderly release of 75 million Tilray shares, or 77 percent of their outstanding total shares . The transaction is expected to be completed quickly, and will give Tilray more flexibility in its global expansion.

Also in Canada, after an ongoing unlicensed cultivation scandal, Ontario-based CannTrust lays off 180 employees. The layoffs will cost the financially-troubled company 2 million Canadian dollars in severance pay, and 20 percent of its workforce. It is expected to save them 9 million in the long run.

Overseas, New Zealand’s former Prime Minister Helen Clark urges residents to legalize adult use cannabis when they vote in a nationwide referendum ending prohibition, set to take place in 2020. She supports a government-regulated system that would discourage large, commercial companies in a market that analytics firm Prohibition Partners estimates could be worth up to 630 million dollars.

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Directed by: Micah Tatum @arbitrageent
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William Bradley

William Bradley

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