Oct 07 2024

New Jersey: Second Senate Committee Approves Measure to Legalize Psilocybin for Therapeutic Use

A second committee in the New Jersey Senate has voted to pass legislation to legalize the therapeutic use of psilocybin mushrooms.

Psilocybin mushroom.

The Senate Senate Budget and Appropriations Committee has given approval to Senate Bill 2283, roughly four months after it was passed by the Senate’s Health, Human Services, and Senior Citizens Committee.

Sponsored by Senate President Nick Scutari (D), the bill initially would have allowed individuals 21 and older to “possess, store, use, ingest, inhale, process, transport, deliver without consideration, or distribute without consideration, four grams or less of psilocybin.” However, it was amended before passage to focus on the therapeutic use of psilocybin for those with a qualifying medical condition.
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Oct 07 2024

North Carolina Marijuana Superstore Celebrates One Month Open to Everyone 21+

The Great Smoky Cannabis Company in Cherokee, North Carolina, has now been open for exactly one month, with tens of thousands of patrons making purchases.

The Great Smoky Cannabis Company (91 Bingo Loop Rd, Cherokee), located on the tribal land of Eastern Band of Cherokee Indians, has been open to everyone 21 and older since September 7. Today, they celebrate a full month of being open. During that time, the store has had over 20,000 customers, with not a single arrest reported by patrons leaving tribal land after making a purchase.

The Great Smoky Cannabis Company has been referred to by many as a “superstore” or “megastore”, given it is one of the largest marijuana stores in the United States. It’s the home of a former bingo hall that cost $50 million to renovate. The store first opened on April 20, but was only accessible by tribal members.
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Oct 07 2024

These Five Marijuana Strains are the Most Popular As of October 2024

As the cannabis market continues to expand across the U.S., several strains have captured the attention of consumers.

Runtz.

Using data from various state regulatory agencies, as well as data from sites that track strain popularity such as Leafly, here are the five marijuana strains dominating sales as of October 2024. Continue reading

Oct 07 2024

Maine Sees $21 Million in Marijuana Sales During September, Surpassing 400,000 Transactions

Maine’s marijuana market continues to demonstrate resilience, with September reporting a total of $21,275,491 in sales across 407,240 transactions.

Within these sales, $12.5 million was attributed to “usable cannabis,” $5.6 million to marijuana concentrates, and $3.1 million to “infused products.”

With September’s sales, the year-to-date total has reached an impressive $183,209,598 from 3,406,206 transactions, according to the Maine Office of Cannabis Policy.
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Oct 07 2024

Report: CBD Skincare Market Valued at $2.3 Billion, Projected to Reach $22 Billion by 2032

According to a newly released report, the global market for CBD skin care products is valued at over $2 billion, and is expected to grow at a drastic rate over the next eight years.

The SNS Insider report indicates that the market is valued at $2.29 billion in 2023, and is projected to reach $22 billion by 2032 with a remarkable CAGR (compound annual growth rate) of 28.7% over the forecast period from 2024 to 2032.”

“The CBD skincare product market is very promising and growing with the fact that people today are desperately looking for natural and organic ingredients in personal care products”, states the report. “Consumers prefer products that offer therapeutic benefits without chemicals that can have adverse impacts.”
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Oct 07 2024

Study: Medical Marijuana Dosing Patterns Vary Widely by Condition, Finds Analysis of Over 16,000 Patients

According to a study published recently in the journal Clinical Therapeutics, there is significant variations in medical marijuana use based on patients’ medical conditions.

Researchers from the University of Southern California, Brandeis University, and Monash University in Australia analyzed data from over 16,000 patients who purchased medical cannabis from dispensaries in New York over a four year period. The study sought to better understand patterns in the consumption of Δ-9-tetrahydrocannabinol (THC) and cannabidiol (CBD) over time.

Using purchase data recorded in point-of-sale systems, the researchers identified six distinct patterns of cannabis dosing. For THC, the majority of patients (62.6%) maintained steady doses at either low (4.1 mg) or moderate levels (7.4 mg). Approximately 22% of patients exhibited fluctuating or increasing THC doses over time, ranging from 5 to 20 mg. A smaller group, making up 15.8% of the total, decreased their THC intake from 11 mg to 5 mg over the study period. Similar patterns were observed for CBD, though the dosing levels tended to be higher, ranging between 4 and 16 mg.
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Oct 07 2024

Study: Abnormal Cannabinoids Show Potent Antifungal Activity Against Candida Species

In a new study, scientists have uncovered a powerful new use for abnormal cannabinoid (AbnCBD) derivatives.

These unique compounds, distinct from traditional cannabinoids, have shown remarkable effectiveness in combating drug-resistant Candida species, notes the study’s researchers. Published in Pharmacological Research, the study reveals how these derivatives not only inhibit fungal growth but also disrupt biofilm formation, offering a promising new approach to battling antifungal resistance.

The research was conducted by scientists from the University of Jerusalem, Ariel University, and The Hebrew University of Jerusalem. Their work focused on abnormal cannabinoids, a class of synthetic lipid compounds that, unlike traditional cannabinoids, do not interact with CB1 and CB2 receptors. Previous studies highlighted the cardioprotective and anti-inflammatory properties of one compound in particular, comp 3, as well as its antimicrobial potential against methicillin-resistant Staphylococcus aureus (MRSA).
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Oct 07 2024

Study: Cannabinoids Show “Promising Potential” in Cancer Treatment

Published in the journal Discover Oncology, a comprehensive review conducted by researchers from institutions in Pakistan, Portugal, Turkey, Saudi Arabia, and South Korea investigates the potential role of cannabinoids in cancer treatment.

The collaboration includes the Pakistan National University of Sciences and Technology, the University of the Punjab, and The Islamia University of Bahawalpur, along with international partners from the Polytechnic Institute of Bragança, Fırat University, Shaqra University, and Korea University. The study was also published online by the US National Library of Medicine.

Cannabinoids, known for centuries in traditional medicine, are gaining renewed attention for their therapeutic properties, particularly in cancer care. The study highlights how compounds like Δ9-THC, CBD, and CBG show promising effects in fighting cancer by influencing critical cellular processes such as inducing apoptosis (programmed cell death), stimulating autophagy (cell cleanup), and inhibiting metastasis and angiogenesis (tumor growth through blood vessel formation). These findings are based on an extensive review of literature from databases like PubMed, Google Scholar, Web of Science, Scopus, and Embase.
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Oct 07 2024

SAFE Banking Act Gains 131st Sponsor in US House

The SAFE Banking Act now has 131 sponsors in the US House of Representatives.

On October 1, Congressmember Amu Bera (D-CA) became the latest lawmaker to join as a sponsor for the SAFE Banking Act (H.R. 2891). The measure now has 131 bipartisan sponsors, more than any other marijuana-related bill in the U.S. Congress.

The SAFE Banking Act is designed to establish federal protections for banks and credit unions that work with marijuana businesses operating legally under state law. This applies to thousands of dispensaries and retail outlets across the 38 states with medical marijuana programs, as well as the 23 states that allow recreational sales. The bill would also allow these businesses to take standard IRS tax deductions, which they are currently denied.
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Oct 05 2024

Illinois Marijuana Sales Surpass $165 Million in September, Bringing Year-to-Date Total Above $1.5 Billion

Illinois’ legal marijuana market remained steady in September, with licensed retail outlets and dispensaries selling $167.9 million worth of product, according to data from the Illinois Cannabis Regulation Oversight Officer.

Approximately 85% of these sales were made by recreational consumers, while medical marijuana purchases accounted for 15% of the total. Nearly one in four recreational marijuana purchases was made by non-residents, with Illinois residents responsible for around 77% of the sales.

Year-to-date, marijuana sales in Illinois have surpassed $1.5 billion, generating over $275 million in tax revenue.
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