Illinois: $3.2 Million in Marijuana Sold During First Day of Legal Sales

According to state officials, there was $3.2 million in marijuana sold in Illinois during their first day of legal sales.

There were 77, 128 transactions on New Year’s Day, when the law legalizing marijuana for recreational purposes took effect, according to Toi Hutchinson, senior adviser to Gov. J.B. Pritzker on cannabis control, and first reported on by the Associated Press. Dispensaries reported long lines the first day of sales and expected them to continue through the weekend.

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Initiative to Legalize Marijuana Filed in Oklahoma

Activists seeking to legalize marijuana for all adults in Oklahoma have officially filed an initiative to do just that.

Michelle Tilley and Ryan Kiesel, executive director of the American Civil Liberties Union of Oklahoma, filed State Question 807 with the Oklahoma Secretary of State’s Office this week. Once the language of the initiative passes through a review as well as a challenge period (where it can be challenged on its legal viability), they will have 90 days to collect 178,000 signatures from registered Oklahoma voters. This is the second time the pair has filed such an initiative.

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Legal Marijuana starts in Illinois on New Year’s Day

Starting New Year’s Day in Illinois those who are 21 and older will be able to legally allowed to buy up to 30 grams of marijuana up to 5 grams of marijuana oil or hash, and up to 500 grams of THC-infused products such as edibles at licensed commercial dealers throughout the state. This is according to a Reuters report.

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Oregon Officials Ban Marijuana-Infused Alcohol

The Oregon Liquor Control Commission has ruled that starting January 1, 2020, it’s prohibited for any alcoholic benerage to contain THC or CBD, which are bothcompounds found in marijuana.

According to Reuters, Mark Pettinger, spokesman for the agency, cited concerns raised by the U.S. Food and Drug of potential liver damage from CBD, also known as cannabidiol.

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Four Federal Agencies Release Guidelines for Banks Working with Hemp Industry

On Tuesday a coalition of federal agencies released a joint statement noting that financial institutions including banks and credit unions may work with individuals and businesses involved in the hemp industry.

“This statement provides banks with background information on the legal status of hemp, the U.S. Department of Agriculture’s (USDA) interim final rule on the production of hemp, and the BSA considerations when providing banking services to hemp-related businesses”, states the joint press release, which was published by the Federal Reserve.

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