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Hawaii Lawmakers Announce Cannabis Legalization Push For 2023, With Newly Seated Pro-Reform Governor
Hawaii advocates are optimistic about the prospects of cannabis legalization in the brand new session, with a marijuana activist coalition holding a press conference on Wednesday to lay out the path forward for reform.
Voters elected a pro-legalization governor and lieutenant governor in the November election. After a task force made recommendations for legalization, lawmakers are ready to introduce reform legislation. The Marijuana Policy Project, the American Civil Liberties Union of Hawaii, and the Drug Policy Forum of Hawaii are all represented by representatives.
Cannabis reform is the hurdle.
They were joined by Rep. Kapela, who said that they stand on the edge of history this year. She said that they have a plan for the legalization of recreational cannabis.
Marijuana is not just a matter of money; it is a matter of morals. Kapela said that society's most marginalized people would be the first to participate in the cannabis industry.
The needs of U.S. residents and Hawaii's people would be better served by cannabis operations that use sustainable and indigenous techniques.
Kapela said that her cannabis legislation would incorporate some of the cannabis "recommendations" made by a state marijuana task force that submitted a report on legalization policy considerations to the legislature. Kapela said that the state's commitment to incarceration disproportionately harms people of color and economically disadvantaged residents. "We can build a cannabis industry that diversifies our economy, strengthen our agricultural heritage, and deliver justice to those who have been unfairly criminalized by the legalization of cannabis.
Since the cannabis reform was approved in the Senate in 2021, it didn't go through the House before a deadline
DeVaughn Ward said that marijuana prohibition has caused harm to communities of color. The harm to our residents and the waste of limited and valuable public safety resources can be stopped if cannabis is legalized. The Drug Policy Forum of Hawaii said that the legislation that is set to be introduced is a critical opportunity for the legislature to repair the harms caused by decades of cannabis prohibition. The needs of those damaged by the continued criminalization of cannabis should be the focus of Hawaii's cannabis policy. A properly regulated adult-use market will create an abundance of quality jobs and business opportunities, including those related to cannabis tourism, craft marijuana, and cannabis science.
The former governor of Hawaii, Dave Ige, who has resisted legalization, said he was slightly reluctant to pass something that conflicts with federal law.
The state of Hawaii has a medical marijuana system that allows consumers to grow and sell cannabis in violation of federal law. Activists are feeling more confident now that Gov.
Josh Green has taken office. In November, he said he would sign a bill to legalize cannabis for the public and had ideas about how tax revenue from marijuana sales could be used.
Green said in the debate that people have moved past that as a concern. For years, advocates have worked with controversial state lawmakers to develop a bill to tax and regulate cannabis in the state, only to have the governor oppose it. In 2020, Ige allowed a bill to become state law without the governor's signature that decriminalized possession of up to three grams of cannabis without the possibility of imprisonment. He described it as a tough call and said he went back and forth. Last year, a Hawaii Senate committee approved a bill allowing people 65 and older to qualify for medical marijuana even if they have a diagnosed condition. The legislation wasn't enacted last session.
The state legislature passed a resolution to get an exemption from the Drug Enforcement Administration to run its medical cannabis program. The measure was approved by the House, but only in the chamber. Lawmakers in the state have been working on legislation. A House committee approved a Senate-passed resolution to request that the state form of a psilocybin mushrooms working group explore the drug's therapeutic potential, but it didn't move forward.
The Marijuana Legalization Bill was approved by the Minnesota Legislature. Readers helped make Marijuana Moment happen!
After four days of continuous selling, investors in marijuana stocks such as Aurora Cannabis, Tilray, and Curaleaf are having a good day. The time is 12:24 p.m. Tilray stock is leading the whole sector higher with a big 6 percent gain, while shares of Curaleaf are gaining 1.3%.
Medical marijuana's popularity is behind it all.
In only 24 states and territories, marijuana is legal today, despite the fact that it was not legalized at the national level. Medical marijuana is allowed in 42 states and territories. The exact date for full-scale legalization at the federal level is not certain, but it will certainly happen. The medical marijuana front received some good news yesterday.
It was found in a study of 1,724 adults 18 and older in 36 states and the District of Columbia. According to the study, 3 out of 10 patients with chronic pain have switched to marijuana. More than half of such patients have begun substituting medical marijuana for nonprescription drugs.
Studies show that the availability of medical marijuana is leading to a decrease in the number of prescriptions for narcotic painkillers. According to a report yesterday from marijuana news source Marijuana Moment, other studies show a decline in the sale of narcotics in states that have legalized medical marijuana.
Medical marijuana seems to be taking market share from pharma. What's bad news for pharmaceutical stocks isn't always good news for marijuana stocks.
Aurora Cannabis, Tilray, and Curaleaf have never generated positive free cash flow. Hope lasts forever.
According to analysts polled by S&P Global Market Intelligence, Aurora Cannabis could potentially turn in an actual profit in 2025, as calculated according to generally accepted accounting principles.
Tilray could be both profitable and GAAP profitable, even without federal legalization, according to the analysts.