Nov 14 2024

US Treasury: Over 830 Banks Now Serving State-Legal Marijuana Businesses

Over 830 financial institutions nationwide have filed with the U.S. Treasury Department to disclose their relationships with licensed cannabis businesses, according to quarterly data from the department.

This marks a modest increase from last year’s figures and is nearly double the number of banks and credit unions that reported partnerships with the cannabis industry in 2018.

Despite this growth, less than 10% of all U.S. financial institutions currently provide services to state-licensed cannabis businesses. Federal regulations discourage most banks from engaging with the cannabis industry due to marijuana’s status as a Schedule I controlled substance under federal law. As a result, many cannabis businesses are forced to operate largely in cash, creating significant challenges in security and operational efficiency.
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Nov 14 2024

Bill to Legalize Recreational Marijuana Prefiled in Texas Senate

Legislation that would make recreational marijuana legal for those 21 and older throughout Texas was prefiled yesterday in the Texas Senate, in preparation for the upcoming session.

Senate Bill 335 was filed by Senator Sarah Eckhardt (D) yesterday, one day after State Representative Jessica Gonzalez filed companion bill House Bill 1208.

Both measure would allow those 21 and older to possess up to 2.5 ounces of dried marijuana and up to 15 grams of marijuana concentrates. A licensed and regulated system of marijuana businesses would be established, including retail outlets that would be accessible to anyone 21 and older regardless of whether or not they live in Texas or have a medical condition.
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Nov 14 2024

Study Highlights CBD’s Potential to Protect Lung Cells from Radiation-Induced Damage

Researchers at University Hospital of the Technical University of Munich have found that cannabidiol (CBD) may help protect lung endothelial cells from the harmful side effects of radiation, which they outline in a new study.

Published in the journal Cancers, the study investigated CBD’s ability to shield the lung’s microvasculature from oxidative stress and inflammation caused by radiation therapy, which is commonly used to treat thoracic cancers.

Radiation therapy, while effective in targeting cancer, often damages surrounding healthy tissues, leading to serious conditions such as radiation-induced lung disease (RILD), including pneumonitis and fibrosis. The study’s authors aimed to determine whether CBD could mitigate these harmful effects. Using both in vitro and in vivo models, they observed that CBD reduced oxidative stress, DNA damage, and inflammation markers in irradiated lung endothelial cells.
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Nov 13 2024

Study: “CBD Could Offer a Cost-Effective, Non-Invasive, and Effective Treatment for Managing Alzheimer’s Disease”

A new study conducted by researchers from Augusta University and The University of Texas Health Science Center at Houston has found that cannabidiol (CBD) may serve as a promising, cost-effective treatment for Alzheimer’s disease (AD).

Published in the International Journal of Molecular Sciences, the study suggests that inhaled CBD could help improve cognitive function and reduce the accumulation of amyloid plaques, key markers of Alzheimer’s disease.

The research focused on CBD’s impact on acetylcholine (ACh) production, a neurotransmitter essential for cognitive functions. Additionally, the study examined how CBD influences innate lymphoid cells (ILCs), specifically ILC2s, a subtype of immune cells linked to inflammation. Researchers treated 5xFAD mice, a genetic model for Alzheimer’s, with a broad-spectrum CBD formulation via inhalation over a seven-month period. The treatment resulted in improved cognitive function, reduced senile plaques, and an altered ILC2 profile within the central nervous system.
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Nov 13 2024

Producers of Duck Dynasty and Deadliest Catch to Premiere New Cannabis Show, High Science, on YouTube on November 27

From the Emmy award-winning creatives behind Duck Dynasty, Deadliest Catch and others, comes another “paradigm-bending” television series, High Science, premiering Wednesday, Nov. 27, on YouTube (YouTube @HighScienceTV).

The show will focus on “the colorful cannabis pioneers trailblazing the modern-day green rush.”, according to a press release.

“Fans are invited to add High Science to their holiday watchlists as it introduces humorous and entertaining show hosts, Rich Batenburg Jr. and Richard “Rick” Batenburg III”, states the release. “The father/son duo takes viewers on a rarely seen adventure that unravels the inside world of cannabis. Like scenes out of the Wild West, the cannabis characters are as legendary as the cowboys of the OK Corral.”
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Nov 13 2024

Texas Representative Files Comprehensive Cannabis Legalization Bill, Senators File Multiple Medical Marijuana Bills

A sweeping cannabis legalization bill was prefiled in the Texas House of Representatives yesterday by State Representative Jessica Gonzalez, seeking to authorize and regulate the cultivation, sale, and use of cannabis for those 21 and older.

House Bill 1208 proposes a legal framework for managing various aspects of the cannabis industry, from licensing and taxation to product safety standards.

If passed, the bill would allow licensed businesses, or “cannabis establishments,” to grow, process, test, and sell cannabis products within the state, while individuals over 21 would be permitted to possess and use cannabis legally, with the limit set at 2.5 ounces of dried flower and 15 grams of concentrates.
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Nov 12 2024

Connecticut: $24 Million in Cannabis Sold Legally in October, $250 Million Year-to-Date

Connecticut marijuana sales saw an uptick from September to October, rising to just above $24 million.

According to the Connecticut Department of Revenue Services, there was $24,055,147 worth of marijuana and marijuana products sold legally in October, a slight jump from the $23,445,921 sold in September. October’s sales are similar to the $24.8 million sold October of last year.

Total marijuana sales for 2024 now stand at around $250 million, bringing the all-time total to around $550 million. In 2023, the yearly total reached $274 million.
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Nov 11 2024

Baltimore Proposal to Establish Cannabis Reparations Fund Passes With 76% Support

In last week’s election, Baltimore voters overwhelmingly approved a measure to establish a city fund aimed at compensating communities disproportionately impacted by past cannabis arrests and prosecutions.

The charter amendment, known as Question G, passed with 76% of voters in favor and 24% opposed.

Question G allows Baltimore to tap into state funds generated by Maryland’s recreational marijuana sales tax to support these communities. Maryland imposes a 9% tax on recreational cannabis, directing 35% of the revenue to the state’s Community Repair and Reinvestment Fund, of which Baltimore will receive the largest share due to its high proportion—30%—of marijuana possession prosecutions between July 2002 and January 2023.

Under the new measure, Baltimore must outline specific legislation detailing how these funds will be allocated before receiving its share. The law identifies “disproportionately impacted communities” based on areas with more than 150% of the state’s 10-year average for cannabis possession charges, ensuring targeted support.
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Nov 11 2024

Pennsylvania House Majority Leader Says There’s “Will in the House to Move Forward” With Marijuana Legalization

Following last week’s election, Democrats in the Pennsylvania House of Representatives retained a one vote majority. Now, Majority Leader Matt Bradford (D) says that he expects the House to see some movement on legislation to legalize recreational marijuana.

In September, a bipartisan coalition of 17 House members introduced a comprehensive, bipartisan marijuana legalization bill. Under the proposed law, those 21 and older would be allowed to possess and use up to 30 grams of marijuana, purchasable via a licensed marijuana outlet. The legal marijuana industry would be overseen by the Department of Agriculture.

Now, following Tuesday’s election, Bradford says there’s “will in the House to move forward” on marijuana legalization next session.
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Nov 11 2024

If We Care About Veterans, We’ll Legalize Marijuana Nationwide

As the nation honors Veterans Day, a growing number of advocates argue that the best way to honor America’s veterans is to provide them with broader access to cannabis.

(Photo credit: GETTY Images).

For years, veterans and advocacy groups have pushed for marijuana reform, pointing to cannabis’ potential to address conditions like post-traumatic stress disorder (PTSD), chronic pain, and anxiety—issues disproportionately affecting those who have served in the military. However, federal restrictions continue to complicate access to even medical marijuana, despite evidence and state-level policies increasingly support its therapeutic value.

Currently, veterans who seek relief through medical cannabis face a patchwork of laws depending on the state in which they live. Thirty-eight states and Washington, D.C. have legalized medical marijuana, and 24 states have legalized it recreationally. But the federal government still classifies marijuana as a Schedule I drug under the Controlled Substances Act, categorizing it as a substance with “no accepted medical use” and a high potential for abuse. This classification limits veterans’ access to cannabis through the Department of Veterans Affairs (VA), which cannot recommend or prescribe medical marijuana, even in states where it is legal. A process to move marijuana to Schedule III is currently underway, but its future is in question with a new administration incoming, and some argue a move to Schedule III wouldn’t do near enough to help veterans.
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