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Cannabis Newsletter - November 1, 2019

Updated: Nov 7, 2019

In today's newsletter, Los Angeles potentially redoing its licensing process, implications of the oversupply of this hemp harvest, the USDA’s proposed rules for hemp production, and more.

  • Los Angeles City Council President calls for the City's cannabis licensing process to be redone, sending shock waves through the local cannabis community and all but ensuring future litigation should existing licenses be revoked.

  • Los Angeles cannabis online retail license application system maxed out after being live for only 71 seconds and thrown into doubt amidst allegations of corruption, use of online bots, and a failure to properly implement social justice assurances.

  • Analyzing the impact of the oversupply of hemp.

  • A new Gallup poll shows a “super-majority” of Americans support legalizing cannabis.

  • Cannabis company market valuations volatile partly due to vaping injuries, even as anti-trust concerns recede over some merger and acquisition deals.

  • The USDA announced interim rules and regulations for growing hemp this week. Regulations include requirements for maintenance of information , THC testing, plant disposal, licensing, and plans for producers in jurisdiction without approved hemp production plans.

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