Oct 28 2024

Industrial Hemp Market Valued Over $7 Billion, Projected to Reach $25 Billion by 2032

The Industrial Hemp market grew in value from $6.03 billion in 2023 to $7.07 billion in 2024, according to a new report.

The report anticipates that the market will continue to see rapid growth. At an anticipated compound annual growth rate (CAGR) of 17.29%, the market is expected to be valued at $25.33 billion by 2032.

According to the report, the market “is expanding steadily due to the significant changes in legislative frameworks that have made it easier for hemp to be grown and processed, the growing awareness of the advantages hemp has for the environment, and the expansion of hemp applications into a wide range of end-use industries.”
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Oct 28 2024

Missouri to Launch Marijuana Testing Lab Amid Rising Safety Concerns

Missouri is setting up a state-run marijuana testing laboratory to enhance regulatory oversight of the cannabis industry, using funds sourced from state marijuana taxes.

This lab, aimed at bolstering quality control, will test products for safety and potency, addressing the potential for misleading claims in a market with over $1 billion in annual sales of joints, edibles, and other cannabis products.

This new laboratory, expected to be operational by fall 2025 according to a report from The Beacon, will be based at the Missouri State Public Health Laboratory in Jefferson City. The state has allocated $3.8 million for the lab in fiscal year 2024, followed by $2.4 million in 2025, to support its establishment and operations. Testing will focus on cannabinoid levels, especially THC, and will screen for contaminants such as pesticides, heavy metals, and mold.
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Oct 28 2024

Poll: 69% of Americans Support Rescheduling Marijuana, More Trust Democrats Over GOP on Marijuana Policy

A new YouGov poll shows that a strong majority of American voters support rescheduling marijuana, and more trust the Democratic presidential nominee to address cannabis policy effectively.

According to the survey, 27% express confidence in the Democratic candidate’s handling of the issue compared to 20% favoring the GOP nominee. The poll also found that marijuana policy is a greater priority for Trump supporters, 17% of whom say it is an important issue, compared to 11% among Harris supporters.

When asked about current cannabis rescheduling efforts, respondents across the political spectrum showed support for the Biden administration’s push to move marijuana from Schedule I to Schedule III of the Controlled Substances Act. Support was particularly high among Harris supporters, with 86% endorsing the rescheduling move, while 51% of Trump supporters also approved. Among registered voters overall, 69% backed the policy change.
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Oct 28 2024

Here’s the Most Popular Marijuana Strains in New York Right Now

As New York’s legal marijuana market matures, certain strains have become clear favorites among consumers.

Apple Fritter.

Based on data from the New York Office of Cannabis Management as well as sources such as Leafly and Weedmaps, the following list highlights the top 10 strains currently in high demand across the state. Perhaps unsurprisingly, many of these strains are also popularity in other parts of the country like California and Oregon, while some are only
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Oct 28 2024

Study: CBD and THC Show Anti-Metastatic Potential in Breast Cancer Cells

Researchers from Lebanese American University and Germany’s University of Veterinary Medicine Hannover have published findings in the journal Scientific Reports indicating that cannabinoids derived from Lebanese cannabis may offer significant anti-cancer properties.

Specifically, their study explored how CBD and THC mixtures influence the growth and motility of breast cancer cells in vitro.

The research team focused on a cannabinoid blend that mirrors the natural composition of Lebanese cannabis. They conducted various assays, including cell cycle analysis, immunofluorescence, and ELISA, to observe how the compounds affect cell death and autophagy in breast cancer cells.
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Oct 27 2024

UK Report: Illegal Cannabis Sales Surge 50% in Past Two Years

 Curaleaf International, a global leader in the medical marijuana market, has released a report detailing the growth of the nation’s illegal marijuana market, while calling on the government to put in place stricter regulations in order to protect consumers.

Curaleaf is “urging the UK government to take immediate action against the rapidly growing online illicit cannabis market, which is allowing street cannabis to be sold from unregulated and unpoliced websites and platforms”, according to a press release sent today.

Curaleaf’s latest report reveals that illegal online cannabis sales via the open and dark web have risen by 50% in the past two years, and increased by 67% across open web retailers.
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Oct 27 2024

Kentucky to Hold First Medical Marijuana License Lottery on Monday, Over 100 Cities and Counties to Consider Allowing Dispensaries

Kentucky’s medical marijuana program is set to take a substantial step forward on Monday with its inaugural license lottery for cultivators and processors.

The upcoming lottery will grant licenses to those tasked with cultivating and processing medical cannabis, marking a key milestone in Kentucky’s rollout of its newly legalized medical cannabis program. A separate lottery for dispensaries is anticipated by year’s end, paving the way for retail outlets to open in communities that permit them.

Kentucky’s medical marijuana law defines cultivators as entities responsible for growing, harvesting, and curing raw cannabis, while processors handle the transformation of raw cannabis into usable products. In this first lottery, 16 cultivator licenses and 10 processor licenses will be awarded randomly, with 584 applicants vying for cultivator slots and 344 for processor slots. The lottery event, open for public viewing, will be livestreamed at 2 p.m.
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Oct 26 2024

High-CBD Extract Shows Promise in Reducing Inflammatory Response in Asthma Patients

In a new study, researchers have identified high-CBD extract (CBD-X) as a potential game-changer for asthma treatment, especially for patients who find little relief from conventional inhaled corticosteroids.

Published in the Journal of Pharmaceuticals, the study reveals how CBD-X could disrupt key inflammatory pathways driving asthma’s chronic symptoms, potentially offering fresh hope to millions worldwide suffering from this relentless respiratory condition.

Asthma impacts over 10% of the global population and is characterized by persistent airway inflammation, mucus overproduction, and bronchial hyperresponsiveness. While asthma treatments have advanced, a significant number of individuals—particularly those with “type 2-low” asthma—remain unresponsive to standard therapies, creating an urgent need for alternative solutions.
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Oct 26 2024

Massachusetts Now Offering Over 700 Marijuana Strains at Licensed Stores

As of mid-October, over 700 marijuana strains are available at licensed stores across Massachusetts.

According to the Massachusetts Cannabis Control Commission (CCC), there are 709 active marijuana strains being sold throughout the state as of October 13. This is 65 more than the total number of strains reported in May, and this is more than double the number of strains reported in June 2022 (330).

Massachusetts legalized marijuana in 2016, with the first licensed marijuana store opening in 2018. The law allows those 21 and older to possess up to an ounce of marijuana and cultivate up to six plants for personal use. The first licensed marijuana store opened in 2018. Recreational marijuana purchases are subject to an excise tax of 10.75%, in addition to the standard statewide sales tax of 6.25%. Medical marijuana sales are exempt from both taxes.
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Oct 25 2024

Arizona: Maricopa County Superior Court Ends Attempt To Take Over A Marijuana Dispensary License

A Maricopa County Superior Court judge has ruled in favor an Arizona marijuana dispensary operator, ending an attempt to take its license.

The case centered on Moe Asnani and Chip Boyden’s attempts to circumvent agreements and take over a dispensary license from Investing in the Future LLC.

Anavel Vasquez was qualified to be the majority owner of an entity applying for a marijuana establishment license, under a social equity ownership program implemented by the Arizona Department of Health Services as part of the laws legalizing the sale of recreational marijuana in Arizona in 2020.
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