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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).

To Read The Rest Of This Article By TG Branfalt on Ganjapreneur

Published: October 30, 2019

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