Customer donations at cannabis shops may help fund new super PAC called Legalize America
A super PAC called Legalize America is launching Wednesday with backing from advocacy group the U.S. Cannabis Council and legal cannabis companies. It’s described as the first super PAC aimed at cannabis reform in the U.S., MarketWatch has learned.
Curaleaf Holdings Inc. CURLF , Cronos Group CRON and delivery service Dutchie are among the supporters of Legalize America, which will raise money from cannabis companies and from customers and dispensaries as the 2024 political season heats up. The option of making round-up donations has already been offered at some cannabis dispensaries to fund for other causes, such as the Last Prisoner Project, a nonprofit devoted to cannabis criminal justice reform.
It will also work with the Food and Drug Administration and other federal agencies on regulating cannabidiol, or CBD, a move that could end up affecting federal rules around all cannabinoids, including THC. The round-up donation program has the potential to raise significant amounts of money, but the group did not comment on projected donations.
Matt Karnes, founder of GreenWave Advisors, a cannabis research and advisory firm, said lobbying efforts on behalf of the cannabis industry remain “insignificant” compared with those of the opposition, which for the most part includes large pharmaceutical, tobacco and alcohol companies.
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