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.
One of the world’s largest cannabis companies is now lobbying in at least a half dozen states.
Cannabis Wire has found that major cannabis companies, like Canopy Growth, are registered to lobby.
Altria and Anheuser-Busch, previously lobbying on hemp and cannabis respectively, have now specified CBD as an area of interest.
After reaching new highs in 2019, lobbying by cannabis companies and groups continues to fall in 2020.
The company’s subsidiary donates big to attorneys general groups of both parties.
Compared to the last quarter, spending on cannabis-related issues is down somewhat, though some entities are pushing for coronavirus relief.
Two groups, including the campaign arm of The Heritage Foundation, joined an anti-cannabis veteran to oppose cannabis legislation in Congress.
Companies and organizations spent nearly $11 million on federal lobbying alone, vastly outpacing previous years. But given the coronavirus, 2020 is a mystery.