• May 27, 2020
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  • Cannabis Industry Lobbyists Set New Spending Record


    The cannabis industry lobby has reached a new high of $3.77 million in Capitol Hill spendings this year, far surpassing the $2.76 million spent in 2018.

    Cannabis industry lobby spending has reached $3.77 million this year, a new high that surpasses the $2.76 million spent in 2018, according to Open Secrets figures. The Cannabis Trade Federation led the industry in lobby spending at $760,500.

    The spike in spending comes during the same cycle federal lawmakers in the House passed the SAFE Banking Act. The bill was the first-ever stand-alone cannabis reform measure considered by the chamber.

    Other major spenders this cycle include Curaleaf Inc. ($700,000), whose Senior Vice President of Government Relations serves as the chairman of the Cannabis Trade Federation, the National Cannabis Roundtable ($445,000), the National Cannabis Industry Association ($430,000), Parallel Brands ($420,000), Tweed Inc ($210,000), Canndescent ($190,000), the Global Alliance for Cannabis Commerce ($140,000), Dama Financial, and Trulieve ($120,000 each).

    Weedmaps and Acreage Holdings spent $95,000 and $80,000, respectively, on lobbying efforts, while the California Cannabis Industry Association spent $56,000 and the Oregon Cannabis Association spent just $5,000.

    In July, Cannabis Trade Federation CEO Ned Levine said the STATES Act, which is sponsored by Sen. Elizabeth Warren (D), is the organization’s “top priority.” That bill would prohibit the federal government from interfering with state-approved cannabis policies.

    In 2014, the cannabis industry spent just $80,000 on lobbying efforts, which increased to $300,000 in 2015, to $430,000 in 2016, and to $1.62 million in 2017.

    The Open Secrets data was downloaded from the Senate Office of Public Records on October 23.

    Source: https://www.ganjapreneur.com/cannabis-industry-lobbyists-set-new-spending-record/


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