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Audio transcript (~2 min read)
This is the New Realm Compliance Brief, Volume One, Edition Twenty-One, for Friday, September Fourth.
Top story: New Mexico's cannabis tracking cutover reaches its final deadline today. Retailers lose access to the state's old BioTrack system and must now operate entirely on the new state-built seed-to-sale platform, N M S Two S. At an August thirty-first hearing, Second District Judge Joshua Allison declined to rule immediately on the industry's request to halt the transition, saying he would first watch how the new system performs for retailers. The Cannabis Association of New Mexico said the shutdown period had already interrupted sales for some businesses, and its executive director, Matt Kennicott, said affected operators had gone days with no cash flow. The state's BioTrack contract expires September fifteenth.
Around the states: California Governor Gavin Newsom announced the state has collected eight point four billion dollars in cannabis tax revenue since legalization, including about two hundred sixty-two million dollars in the second quarter of this year, and officials said August enforcement operations seized thirteen point three million dollars in illicit marijuana and tobacco products. In Missouri, state regulators recalled products from a licensed manufacturer because they contained chemically modified or synthetically derived cannabinoids, the same product category at the center of the federal hemp debate.
On the radar: December eleventh is the new effective date of the federal hemp T H C ban under the delay signed into law this week, with bipartisan bills pending that would regulate hemp beverages like alcohol. October fifteenth is payment processor Square's deadline for merchants to remove C B D and hemp items from their catalogs. And a Travis County, Texas judge's decision is still pending on the hemp industry's request to pause enforcement of the state's new T H C standards.
Full details and source links are in today's email. This update is for general information only — it is not legal advice.