It’s vacation time around the world, but marijuana reform never rests. Cannabis investors need to stay alert, even in their beach hammocks during this sweltering August. New laws and court rulings can suddenly change the industry’s dynamic.

Here’s a roundup of the latest legal, regulatory, and political developments affecting the global marijuana industry. Let’s start on the federal level in the United States.

Federal

Republican presidential candidate Ron DeSantis, Governor of Florida, recently asserted on the campaign trail that he would “use deadly force” against dealers of illicit drugs. DeSantis, whose campaign is floundering, is increasingly using extremist rhetoric to appeal to the GOP’s far-right base.

DeSantis also said that he does not support federally decriminalizing marijuana and vowed to block such efforts if elected to the White House. He insists that marijuana use impairs the workforce, erodes productivity, and can lead to death.

Rep. Chrissy Houlahan (D-PA) recently introduced in the House the Industrial Hemp Act (tweet):

Rep. Houlahan stated: “Hemp is relatively easy to grow, resistant to pests that kill other crops, good for the soil, and is a high-yield product. All of these qualities make it attractive to farmers. It’s used to make a range of goods including biodegradable fibers and biofuels. Unfortunately, today these farmers face regulations that are a little outdated.”

A New Orleans-based federal appeals court last week ruled that the ban prohibiting people who use cannabis from possessing firearms is unconstitutional.

A three-judge panel reversed the conviction of a man who was sentenced to nearly four years in prison after being pulled over by the police with firearms and admitting to using pot.

The appeals court stated: “Throughout American history, laws have regulated the combination of guns and intoxicating substances. But at no point in the 18th or 19th century did the government disarm individuals who used drugs or alcohol at one time from possessing guns at another.”

The ruling has ramifications for a slew of similar cases around the country that are currently in progress.

The States

Arizona regulators announced a recall of marijuana products due to salmonella contamination. Companies that produce synthetic marijuana cited the incident as another reason for the desirability of marijuana that’s made in the lab. Marijuana is a fragile plant susceptible to contamination; synthetic pot precludes that problem.

California Gov. Gavin Newsom’s (D) Unified Cannabis Enforcement Taskforce recently announced that it destroyed $68.5 million worth of illegal cannabis and seized a dozen firearms in July.

The governor’s office stated: “This is part of our work to tackle organized criminal cannabis operations and keep our environment safe from toxic chemicals.”

Black market marijuana is burgeoning throughout the country. State taxes on marijuana are soaring in the U.S., which in turn is driving up weed prices. This phenomenon is a headwind for the above-board marijuana industry, because it makes legal pot less affordable, hurts company margins, and fuels a rising black market.

Notably, California imposes high tax rates on marijuana, which has generated some of the most expensive prices on the legal market. California also has the world’s largest black market for marijuana, which has led to an increase in arrests.

Minnesota Gov. Tim Walz (D) recently demanded that Republican lawmakers stop spreading what he called “misinformation” about the state’s newly enacted marijuana legalization law.

The GOP in Minnesota has been regurgitating alarmist rhetoric about marijuana that comes straight from the playbook of the now-discredited War on Drugs. These assertions that marijuana is deadly, hooks kids, and harms worker productivity have been proven untrue.

New York’s Office of Cannabis Management announced last week that the state’s first marijuana farmers market has received official approval. The market now operates Thursdays, Fridays and Saturdays in the scenic upstate tourist mecca of New Paltz.

When New York became the 15th state to legalize recreational cannabis on March 31, 2021, the door opened to one of the largest marijuana markets in the world.

International

Germany’s federal cabinet is on track this week to approve a major portion of the government’s marijuana legalization plan. To assuage concerns among skeptical members of the public, German officials also launched this week a public education campaign on what they call “the risks of cannabis consumption.”

Germany is the largest economy in the European Union and the growth engine of the Continent. Medical cannabis has been legal in Germany since 2017. Private recreational use of the drug is banned, although law enforcement tends to turn a blind eye towards small amounts.

Germans account for 17% of total European demand, and 3% of global demand. Those are disproportionately high percentages. Now that Germany has elected a new center-left coalition government, efforts are underway to legalize recreational marijuana in the country.

Ukraine’s parliament last month voted in favor of a draft bill that would legalize medical cannabis production and distribution in the country.

Despite the bloody Russia-Ukraine war, lawmakers in this besieged Eastern European country still have time to consider marijuana legalization, which tells you something about the power of weed.

WATCH THIS VIDEO: High Society! Defining The New Marijuana Consumer

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John Persinos is the chief investment strategist of Marijuana Profit Alert.

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