Jan 23 2024

Report: Cannabis Testing Market Worth $1.7 Billion, to Over Double by 2030

The global market for cannabis testing services is expected to grow at a Compound Annual Growth Rate (CAGR) of 14.23% between 2023 and 2030, according to a new report.

(Photo credit: MoCann Testing).

The report, conducted by Persistence Market Research, found the market to be worth $1.7 billion as of the end of 2023. The report anticipates the market will grow to be worth $4.4 billion by 2030.

“Ensuring compliance, quality, and safety of cannabis products for medical and recreational use is paramount, and cannabis testing services market play a crucial role in this regard”, states the report. “These services encompass various analytical testing methods, including heavy metal, microbiological, pesticide, residual solvent, potency, and contamination testing.”
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Jan 23 2024

National Association of State Departments of Agriculture Calls on Congress to Triple THC Limit for Hemp

The National Association of State Departments of Agriculture (NASDA) is urging members of Congress to significantly increase the amount of THC allowed in legal hemp.

In 2018 federal lawmakers legalized the cultivation of hemp throughout the United States via a provision in a federal farm bill. The provision states that hemp cannot contain more than 0.3% THC. If it does, it’s considered marijuana and is illegal to grow.

Now, NASDA, founded in 1915, is calling on Congress to triple the THC limit to an even 1%.
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Jan 22 2024

Study Finds CBD May Be Useful in Mitigating Stress in Canines, Particularly During Car Travel

According to a new study the use of cannabidiol (CBD) may be effective in mitigating stress in dogs who have to routinely travel via motor vehicle.

The study, titled Daily dosing of cannabidiol (CBD) demonstrates a positive effect on measures of stress in dogs during repeated exposure to car travel, was published in the Journal of Animal Science. It was conducted by researchers at the Waltham Petcare Science Institute.

“Dogs are routinely exposed to events that may elicit stress and result in negative emotional states which can impact pet dog welfare”, states the study’s abstract. “One event many dogs living with people are routinely exposed to is car travel, with many dogs displaying behaviors, along with corresponding physiological responses, that are indicative of stress and anxiety.”
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Jan 22 2024

US Justice Department Seeks to Dismiss Lawsuit Calling Marijuana Prohibition Unconstitutional

According to a motion filed by the United States Department of Justice, they are seeking to have a lawsuit dismissed that would protect businesses following state marijuana laws.

In a motion filed with the U.S. District Court for the District of Massachusetts in the case CANNA PROVISIONS, Gyasi Sellers, Wiseacre Farm, Verano Holdings, v. Merrick Garland (in his official Capacity as Attorney General of the United States), the Justice Department says it will be seeking a motion to dismiss the lawsuit prior to the court-appointed deadline of January 23.

The lawsuit in question claims that continuing marijuana prohibition, in particular enforcing federal marijuana policy on states that have legalized the plant, is unconstitutional and harms public safety.
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Jan 22 2024

Florida Governor Says Marijuana Legalization Initiative Will be on This November’s Ballot

Florida Governor Ron DeSantis in recent remarks said that a marijuana legalization initiative will be on this November’s ballot, giving indication that he believes an effort by the state’s attorney general to block the vote will be rejected by the Florida Supreme Court.

Last year the Florida Division of Elections confirmed that the Smart & Safe Florida campaign submitted 967,528 validated signatures on their initiative to legalize recreational marijuana, more than the 891,523 signatures required to put the measure a on the November, 2024 general election ballot.

In November the Florida Supreme Court heard arguments on whether or not the initiative should be put to a vote in November, with the hearing spurred by a challenge from Attorney General Ashley Moody. The court has not yet ruled on the case, with an April 1 deadline fast approaching.
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Jan 22 2024

Nevada Made $10 Million in Taxes From $68 Million in Marijuana Sales in October

Licensed marijuana stores sold nearly $70 million worth of marijuana in October, garnering the state nearly $10 million in tax revenue.

Legal marijuana sales were $67,921,099 in October throughout Nevada, according to the Nevada Department of Taxation. This resulted in the state bringing in $9,978,856 in marijuana tax revenue.

Total tax revenue for the fiscal year-to-date (starting July 1) is $40,473,664. This was made from the legal distribution of $277,602,500 worth of marijuana and marijuana products.
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Jan 22 2024

Massachusetts: Record-Breaking $158.7 Million in Marijuana Sold in December, $1.8 Billion For 2023

There was more legal marijuana sold in December in Massachusetts than any month prior.

There was $158.7 million worth of marijuana sold legally in December, narrowly breaking the previous monthly record of $158.3 million sold in August.

According to data compiled and released by the Massachusetts Cannabis Control Commission, $140.1 million of the marijuana sold in December was recreational marijuana, while medical marijuana sales reached $18.6 million.
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Jan 22 2024

Missouri: $123 Million in Legal Marijuana Sold in December, $1.3 Billion for 2023

December marijuana sales fell just short of the monthly record set earlier this year.

December marked the 10th straight month that legal marijuana sales surpassed $100 million in Missouri. In total there was $123.3 million worth of marijuana sold, coming within $3 million of the record-setting $126 million sold in March. $106.5 million of the marijuana sold in December was purchased by recreational consumers, while $16.8 million was purchased by medical marijuana patients.

Sales for all of 2023 reached $1.3 billion, resulting in over $100 million in tax revenue for the state. All-time sales for legal marijuana is now just shy of $2 billion.
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Jan 19 2024

National Poll Shows President Biden’s Favorability Rating Will Jump 11% Among Likely Voters if Marijuana is Rescheduled

A new nationwide poll finds that a strong majority of American voters support rescheduling marijuana, and if the government does so this year it will give President Biden a large favorability jump.

Conducted by Lake Research Partners, the poll found that 58% of likely voters support rescheduling marijuana, moving it from its current Schedule I status to Schedule III. Just 19% oppose this move, which would legalize medical marijuana for prescription use nationwide while providing medical marijuana patients and businesses with a plethora of legal protections.

Rescheduling marijuana was supported by a majority of all age groups and political affiliations, but was unsurprisingly highest among those aged 18 to 25 with 65% in support and just 14% opposed.
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Jan 19 2024

California Committee Unanimously Approves Psychedlics Bill

Two committees in the California Assembly have given approval to a bill to establish a psychedelics work group to prepare the state for legalization.

Psilocybin (“magic”) mushrooms.

The Assembly Appropriations Committee voted 11 to 0 today to pass Assembly Bill 941, filed by Assemblymember Mari Waldron (R). The committee’s vote comes nine days after it was approved, also unanimously, through the Assembly Health Committee, and a little over three months after Governor Gavin Newsom vetoed a bill that would have legalized certain psychedelics including psilocybin, DMT and ibogaine.

This bill “would require the California Health and Human Services Agency to convene a workgroup to study and make recommendations on the establishment of a framework governing psychedelic-assisted therapy, as defined.”
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