Jun 01 2024

Oregon: Legal Marijuana Prices Hit Record Lows—$3.60/Gram for Flower, $15/Gram for Concentrates

The average price of legal marijuana has reached a historic low in Oregon.

Recent data from the Oregon Liquor and Cannabis Commission reveals that the average price for dried marijuana flower in licensed marijuana stores has fallen to $3.60 per gram—the lowest recorded rate. Additionally, the price for marijuana concentrates has dropped to a new low of $15 per gram, down from a previous stable average of $16.

These figures position Oregon as the state with the most affordable legal marijuana prices in the nation. For comparative context, Massachusetts, the next closest in terms of low prices, sells its marijuana flower at $5.36 per gram.
Continue reading

Jun 01 2024

24 States and Counting: The Next 10 States Likely to Legalize Recreational Marijuana

There’s currently 24 states that have legalized recreational marijuana. That number could jump to above 30 in the near future.

As we approach mid-2024, it’s becoming increasingly clear which states are on the verge of legalizing recreational marijuana this year or next, and which are still some distance away. Below, we outline the 10 states most likely to legalize recreational marijuana next.

Continue reading

Jun 01 2024

US House Bill to Allow Nationwide Marijuana Banking Garners 123rd Bipartisan Sponsor

Federal legislation that would explicitly allow banks to work with licensed marijuana businesses has garnered its 123rd bipartisan sponsor in the US House of Representatives.

The SAFE Banking Act (H.R. 2891) now has 123 sponsors, with Congressmember Dan Goldman (D-NY) becoming the latest to join as a cosponsor yesterday. The proposed law would provide federal protections for banks and credit unions that offer financial services to marijuana businesses legal under state laws. This would cover medical marijuana dispensaries in the 38 states where they are legal, as well as recreational marijuana stores in the 23 states where they are allowed.

Additionally, the legislation would allow state-legal marijuana businesses to take standard IRS tax deductions, which is currently prohibited.
Continue reading

May 31 2024

Vermont Governor Signs Psychedelics Bill Into Law

Legislation establishing a “Psychedelic Therapy Advisory Working Group” has been signed into law by Vermont Governor Phil Scott.

Psilocybin mushrooms.

Governor Scott signed Senate Bill 114 into law recently, following overwhelming approval in the state’s legislature.

Once the measure takes effect, the Psychedelic Therapy Advisory Working Group will be established “to examine the use of psychedelics to improve physical and mental health and to make findings and recommendations regarding the advisability of the establishment of a State program similar to other jurisdictions to permit health care providers to administer psychedelics in a therapeutic setting and the impact on public health of allowing individuals to legally access psychedelics under State law.”
Continue reading

May 31 2024

Illinois: $170 Million Worth of Legal Marijuana Sold in April, Prices Reach Record Lows

The legal sale of marijuana in Illinois amounted to roughly $170 million in April, according to the Illinois Department of Financial and Professional Regulation.

The sales total, specifically $169.6 million, includes dried marijuana flower and various products like concentrates, edibles, and topicals.

Of this amount, $144.5 million was purchased by recreational consumers, while medical marijuana patients accounted for $25.1 million. Although April’s total represents a slight decrease from March’s $174 million, it shows an increase compared to February’s $160 million and January’s $158 million. The year-to-date marijuana sales in Illinois now approximate $660 million.
Continue reading

May 30 2024

New York Bill to Allow Licensed Marijuana Events Ordered to Third and Final Reading in Senate

Legislation aimed at allowing and regulating marijuana events across the state has passed through its second reading in the New York Senate and has been ordered to a third and final reading.

Filed by Senator Michelle Hinchey, Senate Bill 9679 will be sent to the Assembly if it passes its final reading in the Senate. If enacted into law, the measure would amend the existing marijuana law by adding Section 130-a, which establishes a framework for cannabis event permits.

The bill defines a “cannabis event” as an event where licensed retailers of adult-use cannabis can sell their products outside of their licensed premises. These events can take place at various locations such as theatrical productions, concerts, sporting events, exhibitions, private venues, or any other location authorized by the Office of Cannabis Management (OCM). Additionally, these events may include educational activities, music, and other forms of entertainment.
Continue reading

May 30 2024

Study Finds CBD Gel Reduces Pain and Enhances Grip Strength in Hand Osteoarthritis Patients

A recent study published in the journal Scientific Reports and available online through the National Library of Medicine has revealed promising results for the use of cannabidiol (CBD) in treating hand osteoarthritis (OA).

Conducted by researchers at the University of Sydney, Avecho Biotechnology, and the NTF Group in Australia, the study explored the potential benefits of a novel transdermal CBD gel for managing this chronic condition.

Hand OA is a degenerative disease characterized by chronic pain and impaired functionality, and current treatment options often fall short. CBD has previously demonstrated analgesic and anti-inflammatory effects in preclinical arthritis models, prompting researchers to investigate its efficacy in human subjects.
Continue reading

May 30 2024

Florida Governor Set to Veto Bill to Ban Delta-8 THC

Governor Ron DeSantis is set to veto legislation banning Delta-8 THC, according to multiple sources within the governor’s office.

Gummies made with delta-8 THC.

If enacted, Senate Bill 1698 would limit the sale of hemp products containing Delta-9 THC while placing a complete ban on the production and sale of products containing Delta-8 and Delta-10 THC. Those in the hemp industry argue that if the bill passes, it would devastate the industry and lead to thousands of job losses.

Florida’s Senate gave final approval to Senate Bill 1698 in a unanimous 39 to 0 vote, meaning they have well more than the two-thirds required to override a governor’s veto. However, the measure’s passage was much closer in the House of Representatives, with the final vote being 64 to 48.
Continue reading

May 30 2024

Trump Found Guilty on 34 Felony Charges, Bolstering Biden’s Reelection Bid

Donald Trump was convicted of 34 felony charges related to falsifying business records to influence the 2016 presidential campaign.

(Photo credit: Andrew Kelly/Pool via AP)

A New York jury found Trump guilty of 34 counts related to a $130,000 payment made to adult film actress Stormy Daniels. The prosecution alleged that Daniels was paid to keep secret a 2006 tryst she had with Trump in order to influence the results of the 2016 election, which Trump ultimately won. The verdict comes at a time when nationwide polling shows him around 2% ahead of President Biden.

The trial lasted a month and a half, with the verdict coming swiftly. In addition to the fiery testimonies of Daniels and Trump’s former lawyer Michael Cohen, Trump was held in contempt of court ten times and fined $10,000 for violating a gag order against attacking people involved with the trial. Many Republican leaders, including House Speaker Mike Johnson, traveled to New York to speak out in support of the 2024 Republican presidential candidate.
Continue reading

May 30 2024

Federally Funded Study Reveals Marijuana Terpenes Effective in Chronic Pain Management

In a groundbreaking study funded by federal agencies, researchers have discovered that terpenes, a component of marijuana, can significantly alleviate chronic neuropathic pain in mice through the activation of adenosine A2A receptors (A2AR).

Terpenes are aromatic compounds found in many plants, contributing to their flavor and scent, and are abundant in cannabis. Previous studies have hinted at the analgesic properties of terpenes, but this study provides a more focused insight into their mechanisms and effectiveness.

The research team, which included researchers from the University of Arizona and the National Institute of Diabetes and Digestive and Kidney Diseases at the National Institutes of Health, utilized a mouse model to explore the effects of specific terpenes (geraniol, linalool, β-pinene, α-humulene, and β-caryophyllene) in treating chronic pain conditions, including chemotherapy-induced peripheral neuropathy (CIPN) and inflammatory pain caused by lipopolysaccharide. The terpenes were tested at a dosage of 200 mg/kg, which showed a level of pain relief comparable to standard pain medications like morphine and the synthetic cannabinoid WIN55,212.
Continue reading