Feb 12 2024

FDA Grants Priority Review of Application for MDMA-Assisted Therapy

The US Food and Drug Administration (FDA) has granted priority review for an application seeking to use MDMA (commonly known as ecstasy) for the treatment of post traumatic stress disorder (PTSD).

MDMA tablets, often called “ecstasy”.

Lykos Therapeutics, a company dedicated to “transforming mental healthcare”, announced recently that the FDA has accepted its new drug application (“NDA”) for midomafetamine capsules (“MDMA”) used in combination with psychological intervention, which includes psychotherapy (talk therapy) and other supportive services provided by a qualified healthcare provider for individuals with post-traumatic stress disorder (“PTSD”). The FDA has granted the application priority review and has assigned a Prescription Drug User Fee Act (“PDUFA”) target action date of August 11, 2024.

If approved, this would be the first MDMA-assisted therapy and psychedelic-assisted therapy.
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Feb 11 2024

WA Bill to Legalize Personal Marijuana Cultivation Again Killed in Committee, Growing Even One Plant Will Remain a Felony

For at least another year Washington State will remain the only legal marijuana state that doesn’t allow personal marijuana cultivation.

Late last month the House Regulated Substances and Gaming Committee voted 7 to 4 to pass House Bill 2194, a measure to legalize the personal cultivation of up to four marijuana plants for everyone 21 and older. Now, the measure has been effectively killed in the House Appropriations Committee which has refused to act on the bill prior to a required deadline for this legislative session.

This marks the 10th year that lawmakers have tried, but failed, to approve legislation legalizing marijuana home grows. The state first legalized marijuana in 2012, tying Colorado as the first to do so. Since then, 22 other states have done the same, with all of them allowing those 21 and older to grow marijuana at all.
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Feb 11 2024

Colorado Made $21.5 Million in Taxes From Nearly $120 Million in Marijuana Sales in January

It’s a new year, but Colorado continues to garner tens of millions of dollars in marijuana taxes each month.

Data released by the Colorado Department of Revenue shows that the state made $21,546,871 in marijuana tax revenue in January, from nearly $120 million in sales. This brings the all-time tax revenue for legal marijuana sales to $2,639,704,603, with total sales passing $15.6 billion.

Of the $22.5 million in marijuana taxes made in January, around 75% came from the state’s retail marijuana sales tax, with around 20% coming from the retail marijuana excise tax. The remaining 5% came from the states sales tax.
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Feb 11 2024

Maine: $17.5 Million in January Marijuana Sales, Price Per Gram Drops to All-Time Low of $7.29

There was $17.5 million in legal marijuana sold in Maine in January, as prices continue to drop.

According to the state’s Office of Cannabis Policy, licensed marijuana stores sold $17,518,326 worth of marijuana and marijuana products such as edibles and concentrates. This is a modest dip from the $19.3 million sold in December, but an increase over the $14 million sold last January.

In total there was 320,917 different marijuana transactions in the state, which has a population of roughly 1.3 million people.
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Feb 11 2024

For the Third Straight Year, the Super Bowl Winner Will Be From a Legal Marijuana State

Regardless of the outcome of today’s game, it will be the third year in a row where the Super Bowl winning team is from one of the 24 states with legal recreational marijuana.

Both the Kansas City Chiefs and San Francisco 49ers are from states where marijuana is legal for all uses. California legalized recreational marijuana in 2016, with Missouri doing the same six years later in 2022.

Last year’s Super Bowl was won by the Chiefs, just months after voters approved a legalization initiative. The year prior it was won by the Los Angeles Rams, obviously in the same legal marijuana state as the 49ers.
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Feb 10 2024

Vice President Kamala Harris Says Biden Administration Has “Changed Federal Marijuana Policy”

In a campaign video posted on the social media platform X, Vice President Kamala Harris incorrectly stated that the Biden/Harris Administration has “changed federal marijuana policy”.

A screenshot from the video VP Harris posted on X.com.

In the video, VP Harris said “We changed federal marijuana policy, because nobody should have to go to jail just for smoking weed.”

Harris’ video may have been posted prematurely, given that at the time of publication the Biden Administration has not made any changes to federal marijuana policy. However, the Drug Enforcement Administration (DEA) is currently considering a request from the Department of Health and Human Services (HHS) to reschedule marijuana, with some rumors indicating an announcement could come in a matter of days.
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Feb 09 2024

Virginia House Votes in Favor of Bill to Legalize Recreational Marijuana Sales

Legislation to legalize the licensed distribution of marijuana to everyone 21 and older has been approved through a House of Delegates committee and given initial approval by the full chamber.

House Bill 698 was given approval Tuesday by the House General Laws Committee in a vote of 11 to 8. Today, the measure was given initial approval by the full House of Delegates in a voice vote. The measure will now need to receive one final vote, expected to come next week, before it can be sent to the state’s Senate.

Virginia is one of 24 states that has legalized recreational marijuana, but it’s the only one to not allow marijuana to be sold through marijuana retail outlets. House Bill 698 would change that by allowing some existing medical marijuana dispensaries to sell recreational marijuana, while also issuing 60 licenses for marijuana microbusinesses that would open in early 2025.
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Feb 09 2024

Michigan’s January Marijuana Sales Top $240 Million, Resulting in $38 Million in Tax Revenue

There was over $240 million in legal marijuana sales in Michigan in January.

In total there was $242,812,694 worth of marijuana and marijuana products sold legally in January, according to the Michigan Cannabis Regulatory Agency. The vast majority of these sales, $240,289,360, were recreational marijuana sales, with just $2,523,333 sold to medical marijuana patients.

The total for January is a considerable drop from the record-breaking $280 million sold in December, but it’s significantly higher than the $207 million sold in January, 2023.
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Feb 09 2024

US Navy Eases Restrictions On Prior Marijuana Use

The United States Navy has announced a change in policy that will see them no longer immediately fire a recruit who tests positive for marijuana when arriving to boot camp.

US Navy ships.

Rear Adm. James Waters, the director of the Navy’s military personnel plans and policy division, said at a press conference that the change gives Navy officials the authority to grant waivers for any recruits who initially test positive for THC.

“If they fail that test and own up — ‘Yes, I smoke marijuana ‘– we do an evaluation of the young person to make sure there’s not something else going on,” says Waters. “But we trust that through the process of boot camp that we have an opportunity to bring them along with our culture.”
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Feb 08 2024

Illinois: $158 Million in Legal Marijuana Sold in January

In January licensed marijuana retail outlets in Illinois sold over $150 million worth of product.

There was a total of $158.1 million worth of legal marijuana sold in January, according to data just released by the Illinois Department of Financial and Professional Regulation. $133.8 million of this was purchased by recreational consumers, with $24.3 million purchased by medical marijuana patients.

The $158.1 million is considerably lower than the record-breaking $181 million sold in December, but it’s slightly higher than the $155.5 million sold in January, 2023.
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