Since the legalization of recreational marijuana in Washington State in 2012, and the commencement of legal sales in July 2014, the state has witnessed an impressive boom in its marijuana market.

Over the past decade, this market has generated approximately $15 billion in total sales, according to the state’s Liquor and Cannabis Control Board. These sales resulted in over $5.5 billion in tax revenue for the state. This revenue has been made possible largely due to Washington’s 37% excise tax on marijuana sales—the highest in the nation.

In 2023 alone, Washington’s marijuana sales reached about $1.25 billion. As of July 2024, the state had already recorded $701.85 million in sales, with July being the most lucrative month, bringing in over $103 million. This consistent performance keeps Washington among the top states in the U.S. for legal marijuana sales.
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Today, the Democratic National Committee (DNC) released the final 2024 Democratic Party Platform, which will be voted on by delegates at the Convention tomorrow evening.

This platform was passed by the Platform Committee on July 16, before the President stepped aside. It will receive a final vote tomorrow at the DNC Convention. A section of the platform states:

“No one should be in jail just for using or possessing marijuana. Sending people to prison for possession has upended too many lives and incarcerated people for conduct that many states no longer prohibit. Those criminal records impose needless barriers to employment, housing, and educational opportunities, disproportionately affecting Black and brown people. President Biden took historic action to end this failed approach by pardoning people convicted federally for using or possessing marijuana. He has called on governors to use their pardon power to do the same for state-level offenses. And his Administration is taking a major step to reschedule cannabis so it’s no longer classified as more dangerous than fentanyl or methamphetamine.”
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Colorado has officially established the rules for psilocybin use, paving the way for the state’s upcoming therapeutic program.

Although healing centers won’t begin administering psilocybin treatments until 2025, the state took a significant step forward by finalizing the regulations last week.

Tasia Poinsatte, the Colorado director of the Healing Advocacy Fund, which played a crucial role in launching Oregon’s psilocybin program four years ago, said their now actively involved in guiding Colorado’s efforts. Unlike some other psilocybin programs, Colorado’s regulations do not permit patients to take psilocybin products at home; instead, the treatments will be administered by licensed facilitators at designated healing centers.
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The VA Medicinal Cannabis Research Act, legislation that seeks to advance research into the potential benefits of medical cannabis for veterans, has gained its 21st sponsor in the U.S. Congress.

On August 9, Congressmember Jason Crow (D-CO) signed on as a cosponsor of the House version of the bill, bringing the total number of sponsors in the US House of Representatives to 12. The Senate version of the bill currently has 12 sponsors, making for a combined total of 21 supporters in Congress. Congressmember Zoe Lofgren (D-CA) was the most recent new cosponsor prior to Crow. Lofgren signed on July 9.

The bill, introduced by Congressmember Lou Correa (D-CA) in the House (H.R. 1003) and by Senator Jon Tester (D-MT) in the Senate (S. 326), mandates the Department of Veterans Affairs (VA) to conduct clinical trials on the safety and efficacy of cannabis in treating veterans diagnosed with conditions such as chronic pain and post-traumatic stress disorder (PTSD). The legislation would also require the VA to submit reports on its findings to Congress, paving the way for informed policy decisions based on empirical evidence.
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Teamsters have successfully unionized their 10th marijuana store in Illinois.

Earlier this week, Teamsters Local 777 announced that they’ve won both a new collective bargaining agreement and an election at Zen Leaf in less than one week. Zen Leaf is a subsidiary of the multi-state operator Verano Holdings.

This accomplishment is the fourth Verano store in Illinois to unionize under the Teamsters. The push for unionization has been gaining momentum across the state in recent months, with six other Illinois cannabis stores voting to unionize earlier this year, bringing the total unionized marijuana stores in the state to at least 10.
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Vermont’s legal marijuana market generated over $66 million in revenue between January and June of this year.

(Photo credit: USA Today).

In the first half of 2024, Vermont’s licensed marijuana stores sold $66.22 million worth of marijuana and marijuana products, resulting in approximately $8.5 million in tax revenue, according to data compiled and released by the Vermont Department of Taxes.

The monthly high for the year was in May, with $11.45 million in sales generating $1.60 million in taxes. June followed with $11.14 million in sales, resulting in $1.56 million in tax revenue.”

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