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MacKenzie Scott alone accounted for one-third of America's $19.2 billion in megagifts last year

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MacKenzie Scott alone accounted for one-third of America's $19.2 billion in megagifts last year

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Philanthropy leader at Warren Buffett and Bill Gates’ Giving Pledge says children of billionaires are pushing them to give their wealth away faster

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Elon Musk on MacKenzie Scott giving away $26 billion of her fortune: 'Sadly,' it makes the world a worse place
PoliticsTexas

Texas Gov. Abbott vetoes bill that would have banned THC-infused vapes, gummies and other products

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Nadia Lathan
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The Associated Press
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June 23, 2025, 5:07 AM ET
Employee Savannah Gavlik displays THC products at the Dope Daughters dispensary that Texas lawmakers were seeking to ban, on May 29, 2025, in Austin-
Employee Savannah Gavlik displays THC products at the Dope Daughters dispensary that Texas lawmakers were seeking to ban, on May 29, 2025, in Austin-Eric Gay—AP
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Texas Gov. Greg Abbott vetoed a bill Sunday to ban all THC consumables, allowing the booming market flush with THC-infused vapes, gummies and other products to continue to be sold across the state.

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Abbott, a Republican, waited until the final moment to veto the bill in what would have been one of the most restrictive THC bans in the country and a significant blow to the state’s billion-dollar industry.

The law would have made it a misdemeanor to own, manufacture or sell consumable THC, or tetrahydrocannabinol, products and was the latest push by states to regulate THC after a 2018 federal law allowed states to regulate hemp, a similar plant to marijuana that can be synthetically processed to produce THC, the compound giving marijuana its psychoactive properties.

Loopholes in existing law have allowed many THC-infused goods to enter the market across the country, including states with strict marijuana laws.

Texas has some of the strictest marijuana laws in the country, prohibiting all recreational use and providing a limited medical marijuana program. The consumables market has allowed residents to legally access goods giving a similar high to marijuana.

Republican lawmakers have criticized the products as dangerous due to a lack of federal oversight in how the goods are manufactured. Texas’ ban is one of the more far-reaching among states that have taken similar steps. Several states, including California, have imposed age limits and restrictions on the potency of THC products.

Critics of the Texas bill say it allows people who cannot access marijuana through the state’s medical marijuana program to acquire goods that can provide a similar relief. Many retailers across the state also pointed to the thousands of jobs and millions in revenue the industry brings each year.

Last year, Florida Republican Gov. Ron DeSantis vetoed a bill that would have put age restrictions on THC consumables, claiming it would hurt small businesses.

Subscribe to Fortune Gulf Brief. Every Tuesday, this new newsletter delivers clear-eyed, authoritative intelligence on the deals, decisions, policies, and power shifts shaping one of the world’s most consequential regions, written for the people who need to act on it. Sign up here.
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