A gigantic inflatable joint was the centerpiece of a Saturday smoke-out at the White House supporting the legalization of marijuana. According to reports, dozens of demonstrators lit up to encourage President Obama to change the status of cannabis from a Schedule I drug in the same class as heroin and cocaine to a lower category that would essentially make possession and use of the drug legal in the U.S.

That is not going to happen. Obama has already said that marijuana legalization is not on his agenda for the last year of his presidency.

While that is disappointing to pot advocates, it may not be that big a problem. There is growing support for legalization among members of Congress and more states are scheduled to include initiatives on the ballot in this year’s elections. There are 23 jurisdictions, including the District of Columbia, where marijuana is legal for either recreational or medicinal use or both. Another 11 states may be added to that list in 2016 either by initiatives or legislative action.

Here are excerpts from other recent cannabis-related news stories.

Marijuana Chain Wants Naming Rights to Broncos’ Home Stadium
When a company that sells marijuana announced Friday it wanted to acquire naming rights for the Broncos’ home field, many people probably assumed it was an April Fool’s joke.

But marijuana is big business in Colorado, and Native Roots, which runs a 14-store chain in the state, is quite serious about sponsoring the Broncos playing field.

“It’s not a joke, we’re very serious,” founding partner Rhett Jordan told CBS 4 in Denver.

Sports Authority holds those naming rights, but it filed Chapter 11 bankruptcy protection in early March, raising questions about whether it will continue to sponsor it. Jordan says his company has both the financial strength and desire to make a deal work.

Read more at The Sporting News.

Oregon Edibles Will Be Less Potent Than Other States
At the start of this year, Oregon lawmakers have been steadily working towards the goal of eventually having separate recreational and medical marijuana markets. The Oregon Health Administration will run the medical marijuana market and the Oregon Liquor Control Commission would govern the recreational market – in the meantime, adults 21 and older are able to purchase marijuana through medical marijuana dispensaries.

Since October, the early access program for adult use of marijuana has been allowing the sale of marijuana flower as well as young marijuana plants – however, until now things such as edibles and extracts have been completely off limits for anyone who does not hold a medical marijuana card.

This last week there were two big decisions made for the future of adult marijuana users and the selection they are offered. The first thing is Governor Kate Brown signed a bill which changes the marijuana industry in Oregon in a big way – by integrating the medical and recreational markets.

What this means is that medical dispensaries will be able to sell taxed marijuana to adults 21+ without a medical marijuana card; and recreational dispensaries will be able to sell un-taxed marijuana to anyone with a valid medical marijuana card. On top of bringing the two markets together, it is also allowing stores to sell single low-dose marijuana edibles and extracts to adults 21+ during the early access program

Read more at The Marijuana Times.

High Times Wants to Be the Playboy of Pot
Picture a mood-lit Las Vegas casino, at first glance indistinguishable from any other pleasure palace on the Strip: salarymen hunch over $20 blackjack tables as waitresses with plunging necklines circle the floor.

Instead of bourbon-and-sodas, however, these waitresses are carrying trays full of vaporizers and water pipes. The games themselves have names that sound more like Cypress Hill songs: “Craps and Blunts,” “Roll and Roulette.”

High rollers, indeed.

A casino doubling as a smoker’s paradise may seem like a tired Cheech & Chong skit from the ’70s. But this vision is one of many ambitious concepts being hatched at High Times, the scruffy monthly magazine that, for 42 years, has served as the barely legal bible of dorm room stoners and closet cannabis growers.

Just as Playboy transformed from a skin magazine to a branding behemoth during the sexual revolution, a new management team at High Times is looking to pare back its outlaw image to become a lifestyle brand. Its big plans to capitalize on the era of legalized marijuana include a revamped website, apparel, furniture, nightclubs and eventually ganja-themed cruises, hotels and casinos.

Read more at The New York Times.

Oregon Marijuana Banking Bill May Be More of a Symbolic Win Than a Game-Changer
Marijuana businesses in Oregon shouldn’t expect financial institutions to suddenly open their doors to the industry if Gov. Kate Brown signs a cannabis banking bill that is currently sitting on her desk.

The unfortunate reality is that banks are unlikely to start serving cannabis clients until Congress or federal regulators take action to change marijuana’s status as a federally illegal drug, regardless of any changes at the state level, banking experts say.

“The primary issue for our banks remains the fact that this is a Schedule 1 federally controlled substance,” said Kevin Christiansen, government affairs director at the Oregon Bankers Association.

“Until that’s dealt with at the federal level, you’re not going to see a lot of movement from the banking industry, at least based on what we hear from our members in Oregon,” he added.

The Oregon House and Senate both passed a bill, HB 4094, earlier this month that would exempt financial institutions from state criminal prosecution for providing financial services to legal marijuana businesses, so long as the institutions don’t violate other state laws.

Read more at Marijuana Business Daily.

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