This Week in Cannabis News: September 9, 2022

Here’s what you need to know this week

Sen. Merkley talks SAFE Banking Plus

At a conference this week, Democratic Senator Jeff Merkley gave an update on SAFE Banking Plus, which would allow for traditional banking for cannabis in the U.S. SAFE Banking Plus contains additional provisions around social equity and social justice not previously included in the SAFE Banking Act.

In a similar vein, a recent poll showed that 65 percent of U.S. voters support cannabis banking reform. The Independent Community Bankers of America (ICBA)-funded study indicated that voters overwhelming support allowing cannabis companies to bank like other businesses do in states where cannabis is legal.

Cannabis workforce updates

‍‍The Guardian recently analyzed unionization efforts of cannabis employees in the U.S. and the success that some unions have been having.

In Michigan, a bill aimed at lowering the minimum age for cannabis employees in some cannabis industry roles was introduced.

Miscellaneous U.S. market updates

In New York, Albany Business Journal suggested that New York expects 15-20 stores to open in 2022, which will be great to see as the seeds of that state’s sector get off the ground.

The New Mexican cannabis market grew to another record high last month. Between medical and recreational use, New Mexico's total sales surpassed $40 million for the month.

Also in the South, Arkansas medical cannabis sales reached nearly $24 million in August.

And finally, Illinois is selling lots and lots of cannabis—so far this year, cannabis consumers throughout the state have purchased over a billion dollars in cannabis.

Featured guest: Mike Fourcher, Co-founder and Editor at Grown In

This week’s From an Expert conversation is with Mike Fourcher. Mike is the co-founder and the editor of Grown In, a well-established cannabis industry publication. His career has taken him from Capitol Hill to Chicago City Hall; from work as a Clinton Administration Energy Department staffer to co-founding multiple successful news startups.

Before starting Grown In, Mike’s most recent news startup was The Daily Line, a subscription-based Chicago and Illinois political news startup he co-founded and sold in 2017. Prior to his life in media startups, Mike spent decades working in Chicago, Illinois, and national politics. Mike joined us for an Illinois-focused webinar last week, and we thought his insight into the market was bang-on—so we wanted to feature that conversation as part of this week’s program: