Nov 18 2024

Michigan Marijuana Sales Hit $269 Million in October, Nearing $10 Billion Total

In Michigan, licensed marijuana stores sold nearly $270 million worth of product in October.

In October, marijuana and marijuana products generated $269,527,217.05 in sales, according to data from the Michigan Cannabis Regulatory Agency (CRA). Nearly all sales were for recreational marijuana, with approximately $1 million coming from medical marijuana. These figures represent a slight increase from the $265 million recorded in September and the $262 million in October 2023.

The year-to-date total for marijuana sales in Michigan is now $2.5 billion. All-time sales are now $9,676,325,456.65, putting the state on track to cross $10 billion in mid-December. All-time sales have resulted in over $1.5 billion in tax revenue.
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Nov 16 2024

Legal Marijuana Sales in Maryland Top $95 Million in October, $944 Million Year-to-Date

Maryland has continued its strong marijuana sales trend with over $95 million sold in October.

According to data released by the Maryland Cannabis Administration, there was $96,122,126 worth of marijuana and marijuana products sold legally in October, a slight increase from the $93 million sold in September. Sales data includes dried marijuana flower and prerolls, as well as a variety of marijuana products including marijuana concentrates, edibles and topicals. Of the $96 million sold, $71 million was purchased for recreational use, with medical marijuana patients purchasing $25 million in product.

The year-to-date total for marijuana sales in Maryland is now $944 million, putting the state on track to pass the $1 billion mark in November. The top month for the year reminds August, with $100.6 million in marijuana sales.
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Nov 15 2024

Illinois Launches $7M Cannabis Research Institute

Illinois is investing $7 million in a new Cannabis Research Institute (CRI) to examine marijuana’s effects on individuals and communities.

The funding, from the state’s Department of Human Services, will support the institute’s mission to provide comprehensive research on the scientific and socio-economic impacts of cannabis use and production.

The CRI, set to be led by Reginald “Reggie” Guadino, will operate from the University of Illinois’ Discovery Partners Institute in Chicago. It is temporarily located at the Illinois Medical Center, previously used as a COVID-19 testing site on the city’s West Side.
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Nov 15 2024

New Study Reveals Promise of Minor Cannabinoids for Psychiatric Disorders

A new systematic review from Utrecht University in the Netherlands explores the potential of minor cannabinoids in treating psychiatric disorders.

Published in European Neuropsychopharmacology, the study offers fresh insight into how these lesser-known compounds might aid in addressing conditions such as anxiety, depression, and addiction.

The research highlights the growing interest in cannabinoids for mental health treatment, fueled by evidence linking the endocannabinoid system to psychiatric disorders. While cannabidiol (CBD) and Δ9-tetrahydrocannabinol (Δ9-THC) have been extensively studied, the cannabis plant contains approximately 120 minor cannabinoids that have received far less attention. According to the study, “Although some displayed promising pharmacological profiles, research on their application for psychiatric disorders is fragmented.”
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Nov 14 2024

Cannabis Bioscience International Holdings Selected to Participate in DEA’s Marijuana Rescheduling Hearing

Cannabis Bioscience International Holdings (OTCMKTS: CBIH) announce recently that it was selected from a competitive field of numerous companies as one of the few U.S. bioscience cannabis companies invited to participate in the DEA hearings on the rescheduling of marijuana.

Represented by CEO, Mr. Dante Picazo, CBIH will present clinical trial data showcasing the therapeutic benefits and potential of Cannabis sativa L., emphasizing the company’s commitment to pioneering innovative treatments. In its presentation, CBIH will provide robust evidence on the safety and efficacy of cannabis compounds in medical science, while highlighting the economic opportunities a rescheduling could unlock for the entire industry, according to a press release.

“This opportunity reaffirms the importance of advancing cannabinoid research and development. The event provides a vital forum where regulatory authorities can engage directly with entrepreneurs, executives, physicians, scientists, patients, and other key industry stakeholders. Such interaction paves the way for a more informed and equitable regulatory framework for the sector,” says Mr. John Jones, Treasurer and Director of CBIH.
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Nov 14 2024

US Treasury: Over 830 Banks Now Serving State-Legal Marijuana Businesses

Over 830 financial institutions nationwide have filed with the U.S. Treasury Department to disclose their relationships with licensed cannabis businesses, according to quarterly data from the department.

This marks a modest increase from last year’s figures and is nearly double the number of banks and credit unions that reported partnerships with the cannabis industry in 2018.

Despite this growth, less than 10% of all U.S. financial institutions currently provide services to state-licensed cannabis businesses. Federal regulations discourage most banks from engaging with the cannabis industry due to marijuana’s status as a Schedule I controlled substance under federal law. As a result, many cannabis businesses are forced to operate largely in cash, creating significant challenges in security and operational efficiency.
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Nov 14 2024

Bill to Legalize Recreational Marijuana Prefiled in Texas Senate

Legislation that would make recreational marijuana legal for those 21 and older throughout Texas was prefiled yesterday in the Texas Senate, in preparation for the upcoming session.

Senate Bill 335 was filed by Senator Sarah Eckhardt (D) yesterday, one day after State Representative Jessica Gonzalez filed companion bill House Bill 1208.

Both measure would allow those 21 and older to possess up to 2.5 ounces of dried marijuana and up to 15 grams of marijuana concentrates. A licensed and regulated system of marijuana businesses would be established, including retail outlets that would be accessible to anyone 21 and older regardless of whether or not they live in Texas or have a medical condition.
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Nov 14 2024

Study Highlights CBD’s Potential to Protect Lung Cells from Radiation-Induced Damage

Researchers at University Hospital of the Technical University of Munich have found that cannabidiol (CBD) may help protect lung endothelial cells from the harmful side effects of radiation, which they outline in a new study.

Published in the journal Cancers, the study investigated CBD’s ability to shield the lung’s microvasculature from oxidative stress and inflammation caused by radiation therapy, which is commonly used to treat thoracic cancers.

Radiation therapy, while effective in targeting cancer, often damages surrounding healthy tissues, leading to serious conditions such as radiation-induced lung disease (RILD), including pneumonitis and fibrosis. The study’s authors aimed to determine whether CBD could mitigate these harmful effects. Using both in vitro and in vivo models, they observed that CBD reduced oxidative stress, DNA damage, and inflammation markers in irradiated lung endothelial cells.
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Nov 13 2024

Study: “CBD Could Offer a Cost-Effective, Non-Invasive, and Effective Treatment for Managing Alzheimer’s Disease”

A new study conducted by researchers from Augusta University and The University of Texas Health Science Center at Houston has found that cannabidiol (CBD) may serve as a promising, cost-effective treatment for Alzheimer’s disease (AD).

Published in the International Journal of Molecular Sciences, the study suggests that inhaled CBD could help improve cognitive function and reduce the accumulation of amyloid plaques, key markers of Alzheimer’s disease.

The research focused on CBD’s impact on acetylcholine (ACh) production, a neurotransmitter essential for cognitive functions. Additionally, the study examined how CBD influences innate lymphoid cells (ILCs), specifically ILC2s, a subtype of immune cells linked to inflammation. Researchers treated 5xFAD mice, a genetic model for Alzheimer’s, with a broad-spectrum CBD formulation via inhalation over a seven-month period. The treatment resulted in improved cognitive function, reduced senile plaques, and an altered ILC2 profile within the central nervous system.
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Nov 13 2024

Producers of Duck Dynasty and Deadliest Catch to Premiere New Cannabis Show, High Science, on YouTube on November 27

From the Emmy award-winning creatives behind Duck Dynasty, Deadliest Catch and others, comes another “paradigm-bending” television series, High Science, premiering Wednesday, Nov. 27, on YouTube (YouTube @HighScienceTV).

The show will focus on “the colorful cannabis pioneers trailblazing the modern-day green rush.”, according to a press release.

“Fans are invited to add High Science to their holiday watchlists as it introduces humorous and entertaining show hosts, Rich Batenburg Jr. and Richard “Rick” Batenburg III”, states the release. “The father/son duo takes viewers on a rarely seen adventure that unravels the inside world of cannabis. Like scenes out of the Wild West, the cannabis characters are as legendary as the cowboys of the OK Corral.”
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