A Cannabis Wire analysis of new Congressional lobbying disclosures found these, and other, entities newly lobbying on cannabis issues.
Major insurance companies continue to register to lobby on the most closely-watched cannabis legislation in Congress.
Now that Congress will play a bigger role in the future of the CBD industry, will more companies try to sway the outcome?
And, another major bank registered to lobby on the SAFE Banking Act, too.
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.