*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).
Tim Davis, Partner and Executive Managing Director at Steward Partners, joins Cheddar News' Closing Bell, where he discusses what activity we could expect to see from the crypto market this week as the Fed decision approaches, the prices of Bitcoin and Ether struggle to find a spark, and the industry continues to digest President Biden's executive order on crypto.
Russia may be asking China for help with its war in Ukraine, according to several reports citing unnamed U.S. officials. Russia is reportedly calling on its ally for military and economic assistance, in an attempt to avoid punishment from sanctions imposed by the U.S., Europe, and Asia, which have hammered Russia's economy. Chinese and Russian officials denied the reports. Meanwhile, top U.S. and Chinese officials are meeting today, with both countries confirming the conflict in Ukraine will be the meeting's main topic. Edward Wong, diplomatic correspondent for the New York Times, joins Cheddar News' Closing Bell to discuss.
A Ukrainian drone company is using its technology to help defend its home nation during the ongoing war with Russia. Valerii Iakovenko, co-founder and CEO of DroneUA, joined Cheddar News to discuss its efforts to help against the invasion. "These drones can be used to do strikes more precise and even cheap drones, even simple technologies can help to make a defensive possibilities more precise," he said.
Following the Texas Supreme Court's decision to end further challenges against the latest abortion restrictions, Texas saw a 60 percent decrease in abortions performed in the state — with an exodus of patients seeking care in other parts of the country. President, and CEO of Planned Parenthood Federation of America, Alexis McGill Johnson, joined Cheddar News at South by Southwest 2022 to discuss the impact of the court's ruling on reproductive health care in the Lone Star State and beyond.
Damian Mason, farm owner, agricultural economist and author of "Food Fear" joined Cheddar News to talk about how the Russian invasion of Ukraine is putting pressure on commodities, which could lead to a 20 percent price hike according to the United Nations. “Russia and Ukraine are responsible for about 35 percent of exports, 35 percent of grain exports, specifically wheat,” said Mason. He also added, "You've got Russia saying, 'we're going to hoard and hold back our wheat,' which of course crimps global supply, and you've got Ukraine that maybe won't even get harvested."
In order to qualify for one of the coveted first retail licenses in New York's adult-use cannabis program, you'll have to have a conviction on cannabis-related charges or have an immediate family member who does. It's part of the latest effort by New York lawmakers to create a diverse and inclusive industry — but some advocates still have reservations. Amber Littlejohn, the executive director of the Minority Cannabis Business Association, joined Cheddar News' Closing Bell to discuss. "We definitely applaud the state of new york, but ultimately the devil will be in the details as to whether or not this actually works out to create equity in the cannabis industry," she said.
David Daley, senior fellow for FairVote, joins Cheddar News to discuss the Supreme Court denying the GOP's challenge to congressional maps in North Carolina and Pennsylvania.
