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ICYMI: This week in weed news 11/18

Friday’s here already, which means it’s time to look back at the week’s top headlines. From developments in congress to new celebrity brands, here’s what you may have missed in cannabis news. 

Congress sent a cannabis bill to Biden, signifying a new era in public cannabis perception. The bill, which will make it easier to conduct medical marijuana research and protect doctors who discuss the plant with patients, is the first standalone cannabis bill to be approved by both chambers of Congress. Up next is a discussion on the Safe Banking Act, which Chuck Schumer has signaled he wants passed before this Congress ends. 

Stone Road will soon be getting Michiganders stoned. The California-based company has partnered with Gamut Cannabis to bring Stone Road cannabis to the Great Lake State. This marks the fourth market launch for the queer-led brand. 

Helios Labs will be the first social equity operator in Illinois to receive a $1 million loan. As part of the state’s Department of Commerce and Economic Opportunity social equity loan program, the minority-owned craft grower received its loan from Good Tree Capital. “As a leading social equity cannabis organization, we are happy to be among the first to access these funds,” said Ambrose Jackson, CEO.

$750 million in cannabis is stuck in limbo as New York inches toward retail. The estimated 300,000 pounds of usable weed is a major stressor for more than two hundred farms who were given cultivation licenses last spring. Now that the harvest is complete, the weed is piling up. It might not be a problem for too long, though, as the state is expected to dole out its first retail licenses as early as next week. 

Is this what happens when you see the light? Todd Rundgren is the latest celebrity to join the host of celebrities starting cannabis brands. His partnership with Michigan-based Cheef Cannabis will launch with two strains, Michigan Cookies and Soi Mintz. What’s he calling his new line, you ask? “Hello, It’s Weed” of course

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