The cannabis industry spent $5.22 million on Washington lobbying for 2021 – and just broke the previous record.
The cannabis industry set a record in its spending on Washington lobbying last year, with its outlay of $5.43 million.
Last year’s outlays to influence policymakers and regulators were made as the industry had hits and misses in Washington, D.C. On the other hand, the Senate again failed to advance the SAFE Banking Act, a much-discussed bill that aims to protect financial institutions KBE, -0.98% that work with the marijuana industry.
While the cannabis industry’s lobbying spending keeps growing, the sums involved fall well short of lobbying spending by bigger Washington players. Amazon.com Inc. AMZN, -1.65% and its subsidiaries, for example, paid out $21.38 million in 2022, according to an analysis by OpenSecrets, which is a research group tracking money in U.S. politics.
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