As the number of cannabis reform proposals in Congress increases, so too does the number of entities putting forth their priorities.
Each year, the list of entities lobbying on cannabis grows longer. And, more diverse.
Last year, spending rebounded from a 2020 drop. But it’s remained broadly unchanged since then – much like the movement on cannabis reform in Congress.
The global online retail giant has endorsed the most comprehensive cannabis reform proposal to-date in Congress. In early summer, Amazon began to lobby on a more narrow reform bill.
Lobbying spending by cannabis-focused entities declined after a Q4 2019 peak that coincided with the passage of the SAFE Banking Act. But this quarter, spending has rebounded.
While the global online retail giant said in June that it would support the MORE Act, a bill to end the federal criminalization of cannabis, it formally registered early Wednesday morning.
From CBD and banking legislation in Congress to the right to advertise in legal states, here are the entities newly lobbying on cannabis-related issues at the national level.
There are more companies and groups lobbying on cannabis than ever before, but spending has yet to rebound from a 2020 decline.
Alcohol Giant Diageo, Tobacco Giant Reynolds, and Morgan Stanley Among Companies Newly Lobbying On Cannabis
As energy builds behind national cannabis reform, increasingly mainstream and global companies are lobbying on cannabis for the first time.
Altria, maker of Marlboro, is “excited about the U.S. opportunity for our investment in Cronos,” a Canadian cannabis company, the company’s CFO said during a consumer conference Wednesday.
Altria, parent company of Philip Morris USA, recently registered to lobby on cannabis in Virginia, where a legalization bill backed by the governor is sailing through the legislature.
The MORE Act, which would remove cannabis from the Controlled Substances Act, is up for a full House vote on Friday.
At the federal level, more than a dozen entities have begun to lobby on cannabis-related issues, including hemp and CBD, or adjusted their focus.
The amount of money that cannabis-focused entities spent on cannabis lobbying at the federal level fell for the third quarter in a row, following an unprecedented rise in 2019.
Trulieve is responsible for half of all cannabis product sales in Florida. According to state lobbying disclosures, the company is watching Florida’s neighbors, too.