Mar 25 2024

US Census Data Shows Legal Marijuana States Made $710 Million in Tax Revenue in Q4, 2023

In the final quarter of 2023, legal marijuana states combined to make over $700 million in marijuana tax revenue, according to government data.

Data released by the US Census Bureau shows that among the states that currently allow it, licensed marijuana sales garnered $710 million in tax revenue during the final quarter of 2023, cover October 1 to December 31.

22 states plus the District of Columbia were included in this data. Minnesota allows marijuana sales, but stores aren’t expected to open until sometime next year. In Virginia, marijuana possession is legal, but not sales.
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Mar 25 2024

Federal Legislation to Protect State Marijuana Laws Gains 10th Bipartisan Sponsor in US House

A proposal in the House of Representatives to protect state marijuana laws has garnered its 10 legislative sponsor.

marijuana

Congressmember Bonnie Watson Coleman (D-NJ) has officially signed on as a cosponsor to the STATES (Strengthening the Tenth Amendment Through Entrusting States) Act 2.0, bringing the total to 10. The measure was filed in December by Representative Dave Joyce (R) with four cosponsors.

The STATES 2.0 Act would amend the Controlled Substances so that those acting in compliance with state marijuana laws would no longer be committing a federal crime, and it would allow commerce between legal marijuana states and tribes
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Mar 25 2024

House Republican Policy Committee Says Marijuana is “Dangerous” and Causes “Violence, Depression and Suicide”

An advisory committee for national Republicans says marijuana causes “violence, depression and suicide”, and they’re calling on Republican lawmakers to oppose legislation allowing banks to work with state-legal marijuana businesses.

The House Republican Policy Committee has released a report declaring their opposition to the SAFE/SAFER Banking Acts, which would allow marijuana banking, as well as legislation that would remove previous marijuana use as a barrier for federal employment and security clearances (the Cannabis Users’ Restoration of Eligibility – CURE – Act). The report is titled Guide to the Issues – The Victims of Marijuana Use.

“Marijuana is a dangerous, addictive drug with no mechanism to control rouge producers from increasing potency and causing more harm”, states the committee. “Rather than labeling marijuana as a recreational drug, it should be labeled for what it is, a gateway drug that increases schizophrenia and impairs cognitive ability.”
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Mar 25 2024

The 10 Most Popular Marijuana Strains Across the United States

In the United States there are hundreds of active marijuana strains (there’s over 600 in Massachusetts alone), but these 10 stand out among the crowd in terms of their popularity.

There are currently 24 states with legal recreational marijuana, and 38 with legal medical marijuana. The vast majority of these states have thriving legal marijuana markets, with licensed marijuana stores and dispensaries. Among these states, a handful of strains remain popular across the country, with some displaying some serious long-term interest.

With that in mind, using data compiled by Leafly and state regulatory agencies, below are the top 10 most popular marijuana strains across the US:
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Mar 25 2024

Utah Governor Lets Bill Allowing Hospitals to Administer Psilocybin and MDMA to Become Law

Legislation establishing a pilot program allowing hospitals to administer psilocybin and MDMA has become law without a signature from the governor.

Dried psilocybin (left) and MDMA (right).

Senate Bill 266, sponsored by Senate Majority Whip Kirk Cullimore (R) and House Speaker Pro Tempore James Dunnigan (R), was approved unanimously through both the House and Senate. Governor Spencer Cox (R) was given the option of signing it into law, vetoing it or allowing it to become law without a signature; he chose the latter. The measure will officially take effect on May 1.

Under the new law, psilocybin and MDMA could be administered by a privately owned and not-for-profit healthcare system that has 15 or more licensed hospitals, or is “closely affiliated with an institution of higher education”. Any healthcare system that decides to take part in the pilot program must inform the legislature by July 1, 2026.
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Mar 25 2024

Those 18+ in Germany Can Legally Possess and Grow Marijuana Starting April 1

Legislation allowing the personal possession and home cultivation of marijuana cleared its final parliamentary hurdle on Friday and will officially take effect next week.

Members of German Parliament’s upper house and lower chamber have both given approval to legislation legalizing recreational marijuana for residents who are at least a18 years old. The law allows for the possession of up to 25 grams of marijuana in public, while also allowing adults to grow up to three plants for personal use. The law takes effect on April 1.

As part of the new law, not-for-profit cannabis clubs will be allowed to grow and sell cannabis for their members beginning on July 1st. Each club will be authorized to have up to 500 members. Members can pay for marijuana and marijuana products, but the clubs can only charge enough to break even and not turn a profit.
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Mar 25 2024

American Bankers Association Poll Finds 63% of Adults Support Federal Marijuana Banking Legislation

According to new polling commissioned by the American Bankers Association (ABA), a large majority of American adults support passing federal marijuana banking legislation.

“The data released today also indicate that by greater than a 3-to-1 margin (63% support vs. 17% oppose) U.S. adults support Congress passing legislation that allows cannabis businesses to access banking services and financial products like checking accounts and business loans in states where cannabis is now legal”, states a press release for the poll, which was conducted by Morning Consult on behalf of the American Bankers Association.

“Americans have made it clear that Congress should resolve the ongoing conflict between state and federal law on cannabis banking issues by passing legislation that will enhance public safety, tax collection and transparency,” said Rob Nichols, ABA president and CEO.
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Mar 25 2024

$160 Million Worth of Marijuana Sold Legally in Illinois in February

February marijuana sales topped sales for January, despite the month being two days shorter.

According to the Illinois Department of Financial and Professional Regulation, there was $160 worth of marijuana sold legally in February. This includes dried marijuana flower as well as a variety of marijuana products including concentrates, edibles and topicals.

The roughly $160 million in marijuana sales in February is a slight increase over the $158.1 million sold in January, and it’s an increase of over $12 million from the total sales for February, 2023.
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Mar 25 2024

Marijuana Stock Index Up 24% From Start of Year

The Global Cannabis Stock Index is currently 24% higher now than it was on January 2.

At the time of publication the Global Cannabis Stock Index stands at 9.96. This is a 24% increase over the 8.03 value the market held on January 2, the first business day of the year.

The current value is a 16% increase over where the market stood a year ago, and a 7% increase from six months ago.
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Mar 24 2024

An Updated Timeline of the DEA’s Marijuana Rescheduling Review

The Drug Enforcement Administration (DEA) is currently conducting a review of marijuana’s Schedule I status. Here’s a timeline of how this review began, what’s happened since, and what comes next.

The DEA’s review of marijuana’s scheduling status was prompted by the Department of Health and Human Services (HHS) sending a letter to the agency in August, requesting marijuana be moved to Schedule III. This recommendation came after a nearly year-long review by HHS, which came at the request of President Biden via a late-2022 executive order. The decision is now entirely in the hands of the DEA, with no deadline for them to come to a decision.

Under current law, marijuana is a Schedule I drug, indicating it has no known medical value, it’s highly addictive and dangerous, and is illegal for all uses. Other Schedule I drugs include heroin and LSD. If moved to Schedule III, marijuana would be in the same class as substances like ketamine, testosterone and codeine, making it available for prescription use nationwide.
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