*By Jacqueline Corba*
Pop-up pot shops and cannabis confabs have been on the rise in the nation's capital, as would-be marijuana businesses try to find new ways to engage potential customers since Washington legalized the possession of small amounts of the drug three years ago.
Since the district's Initiative 71 went into effect in 2015, people 21 years and up can possess up to two ounces of pot. It's not O.K. to buy it or sell it, but people can transfer up to one ounce of the drug to another person of age ー a practice known as "gifting."
"We gift all the time, but a lot of people who want to get compensated, they have someone buy something else in exchange," said Lisa Scott, founder of the D.C. marijuana edible company Bud Appetit.
Cannabis businesses sell a legal item such as a t-shirt or jewelry, and then "gift" marijuana to the customer. Scott said in an interview with Cheddar's CannaBiz that these types of exchanges at private events are increasing as consumer demand is on the rise.
Authorities have grown less tolerant. During a pop-up party in January, almost two dozen vendors were arrested and charged with misdemeanor drug possession with the intent to distribute, according to [The Washington Post](https://www.washingtonpost.com/local/public-safety/in-the-murky-world-of-dc-marijuana-law-pop-up-markets-thrive/2018/03/26/84b9b2c6-2967-11e8-b79d-f3d931db7f68_story.html) . The charges were soon dropped by prosecutors.
"The laws are going to change, and eventually they will open the doors to more recreational sales and we want to be ready for when it happens," said Scott, who earlier this year started the D.C. Cannabis Business Association. "We don't want people with deep pockets and money from other states to come in and take our customers."
For full interview, [click here](https://cheddar.com/videos/understanding-the-murky-legal-landscape-for-cannabis-in-d-c).
Catching you up on the stories you need to know this morning, the U.S. could soon get its first major gun safety law in years, the House Select Committee investigating the January 6th attack on the U.S. capitol holds its second hearing, and today might just be the day the Supreme Court overturns Roe v. Wade, and decides on new gun laws.
U.S. stocks closed Thursday at their lowest levels of the trading day, as investors continue to eye inflation ahead of the May CPI report out Friday. Art Hogan, Chief Market Strategist for National Holdings, joins Cheddar News' Closing Bell to discuss.
The PGA has suspended 17 golfers, including Phil Mickelson and Dustin Johnson, who are competing in a Saudi-backed golf event outside of London. In a memo, commissioner Jay Monahan said "these players have made their choice for their own financial-based reasons", announcing they are ineligible to participate on the PGA tour or any other tours it sanctions. Hugh Kellenberger, Senior Managing Editor at the Athletic, breaks down the controversy, and what might happen next.
U.S. stocks closed Friday at session lows after May CPI data showed inflation in the U.S. has not peaked and is still rising rapidly. For the week, the S&P fell 5.06%, the Dow lost 4.58%, and the Nasdaq dropped 5.60%, marking the worst week since January for all three major indexes. Mike Zigmont, Head of Trading and Research at Harvest Volatility Management, joins Cheddar News' Closing Bell to discuss.
Benefits brokerage, Nava Benefits, raised $40 million in a Series B round. Nava says it's on a mission to fix healthcare, one benefits plan at a time. The startup is working to bring benefits to small business that are normally available to only Fortune 500 companies. Brandon Weber, Co-Founder and CEO of Nava Benefits, joined Cheddar News' Closing Bell to discuss.
