Welcome back to the Week in Weed, your Friday look at what’s happening in the world of legalized marijuana. This week, we see legalization bills introduced in Kansas. Virginia is looking at losing a lot of money by not setting up a retail market. Young people are switching from alcohol to cannabis. And finally, we have a story about Pi Day.
KANSAS
Kansas is one of only a handful of states where both medical and adult-use cannabis are illegal. Could that be about to change? Two bills were introduced recently that would allow cannabis use. Senate Bill 294 would legalize medical marijuana, and House Bill 2405 would allow adult-use. Both would set up markets. Obviously, introducing a bill is only the first step in a very long process, so it’s unlikely things will change quickly, but you gotta start somewhere!
VIRGINIA
We haven’t talked much about Virginia lately, even though a bill to set up a retail cannabis market is sitting on the Governor’s desk, waiting for a signature. This is because Governor Glenn Youngkin (R) has made his distaste for cannabis well known, so we don’t like the chances. The state’s Department of Revenue recently issued a fiscal impact statement that shows the state forgoing millions in tax dollars by not setting up a market. The estimate is a loss of $7.3 million in Fiscal Year 2026, and up to $87.84 million by Fiscal Year 2031. Those are big numbers, but we stand by our prediction that the Governor will not sign.
ALCOHOL – OUT; CANNABIS – IN
With cannabis legal in so many states, the alcohol industry is feeling the competition. According to a recent study by Bloomberg Intelligence, three out of four young adults are substituting cannabis for alcohol at least once per week. Hemp-based beverages are part of what’s driving the move. Will the alcohol industry jump on the cannabis bandwagon? It’s hard to tell, as states seek to limit intoxicating hemp products. That might make companies unwilling to invest in products they can’t sell. On the other hand, the thought of missing out on a new market is unappealing. It will be interesting to see how this plays out.
AND FINALLY
Last Friday was Pi Day, and a Chicago pizzeria decided to celebrate in style. They made a gigantic cannabis-infused pie. In the words of Derrick Tung, owner of Paulie Gee’s Logan Square
There are few words more appetizing than infused pizza.
Be well everyone, and we’ll see you next week.