Nov 29 2023

Study Finds Cannabis Associated With Weight Loss and Lower BMI, May Be Useful in Obesity Treatment

According to a meta-analysis of clinical trials, those who consume cannabis or cannabis products often experience weight loss and reduced BMIs, indicating that they may be useful in treating obesity.

The study was published in the recent issue of the International Journal of Obesity, with its abstract published online ahead of print by the National Library of Medicine.

“Obesity poses a significant public health challenge”, states the study’s abstract. “Research has examined the impact of cannabis and subproducts on health but varying results have hindered a consensus.”
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Nov 29 2023

“Stop Pot Act” to Withhold Funds from Legal Marijuana States “Has No Chance”, Says Democratic House Leader

House Minority Leader Hakeem Jeffries (D) says a Republican-led bill to punish states that legalize marijuana “has no chance” of being passed into law.

The Stop Pot Act was filed in September in the House of Representatives by North Carolina Representative Chuck Edwards, and it now has five sponsors, all Republican. The proposal would withhold federal funding from states and tribes that have legalized marijuana.

House Minority Leader Hakeem Jeffries says he opposes the measure, and believes “it has no chance” of becoming law.
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Nov 29 2023

US Supreme Court Considers Whether Hemp Legalization Impacts Mandatory Minimum Gun Charges

The United States Supreme Court on Monday heard oral arguments in a case where the defendant is arguing that the legalization of hemp nationwide means that he should not face a mandatory minimum sentence for a gun possession charge due to his past marijuana convictions.

In the case, Brown v. U.S., the defendant was charged with illegal possession of a firearm, based on charges established under the Armed Career Criminal Act (ACCA).

The 1984 law established a maximum penalty of 10 years in prison for those with violent felonies and past drug charges who are caught possessing guns. After two charges, the third offense carries a mandatory minimum sentence of 15 years.
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Nov 28 2023

California Garnered $270 Million in Marijuana Taxes in Q3, 2023, From Over $1 Billion in Sales

California made over a quarter of a billion dollars in marijuana taxes in the third quarter of this year.

According to the California Department of Tax and Fee Administration, California garnered $269.3 million in taxes from the legal distribution of marijuana in the third quarter, which covers July, August and September. During that period there was around $1.1 billion in marijuana and marijuana products purchased. Purchases include dried marijuana flower and shake as well as marijuana products including concentrates, edibles and topicals.

$156.9 million of the taxes the state brought in came from the state’s marijuana excise tax, while $112.4 came from the state’s sales tax.
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Nov 28 2023

New Jersey Governor is “Very Much” Open to Legalizing Personal Marijuana Cultivation

New Jersey is one of just two legal marijuana states that do not allow marijuana to be cultivated for personal use, but Governor Phil Murphy (D) is open to changing that.

In a recent interview with local outlet New 12 New Jersey, Governor Murphy was asked about legalizing personal marijuana cultivation and he said “I’m very much open-minded to this.”

Murphy said “I would bet, if I were a betting man, that down the road that that’s exactly where this would land”.
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Nov 28 2023

Ohio Legislation Filed to Redirect Marijuana Tax Revenue, Allow Cities to Ban Marijuana Use and Cultivation

Legislation has been filed in the Ohio Legislature to significantly redirect tax revenue that will be garnered from the state’s recently approved marijuana legalization law, while allowing cities to place bans on marijuana use and cultivation.

Filed by State Representative Gary Click, House Bill 341 would make multiple adjustments to how marijuana tax revenue will be distributed, as defined by Issue 2 (passed by voters earlier this month).

Under Issue 2, those 21 and older will be allowed starting December 7 to possess and purchase up to 2.5 ounces of marijuana and up to 15 grams of marijuana concentrates. The initiative gives the state nine months to begin issuing licenses for marijuana businesses. Once marijuana stores are open, marijuana will be taxed at 10%.
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Nov 28 2023

US Senate Just One or Two Votes Short of Passing Marijuana Banking Bill (SAFER Banking Act)

The SAFER Banking Act appears to be just “one or two votes” short of having enough votes to pass the full United States Senate.

Congressional staffers for two senators who are sponsoring the SAFER Banking Act both say that the Senate needs just one or two more Republicans to support the measure for it to have the 60 votes needed to be passed through the full Senate. This is in line with comments Senate Majority Leader Chuck Schumer made last week when he said the Senate is “getting close” to a vote.

Schumer vowed in September that the measure would be voted on by the full Senate “very soon”. That remark came after the Senate Committee on Banking, Housing and Urban Affairs gave approval to the bill.
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Nov 28 2023

Montana: $28 Million in Legal Marijuana Purchased in September, Year-to-Date Sales Near a Quarter Billion

There was slightly over $28 million in legal marijuana sold in September in Montana.

According to the Montana Cannabis Control Division, there was $28,159,456 in marijuana and marijuana products sold legally in September, a modest decrease over the record-breaking $28,697,312 sold in August. This marks the third straight month where marijuana sales have surpassed $28 million, with July marking the first time the state passed the $28 million mark.

82% of the marijuana sold in September was purchased by recreational consumers, with sales reaching $23,356,918. The remaining $4,802,538 was purchased by those who are authorized medical marijuana patients.
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Nov 28 2023

North America Cannabis Market Valued at $30 Billion, Estimated to Reach $54 Billion Value by 2029

According to a new report the North America cannabis market showcased growth at a compound annual growth rate (CAGR) of 10.20% during 2019 to 2022, and that growth is expected to continue in the coming years.

The report conducted by Research and Markets found that by the end of 2022, the legal marijuana market in North America was valued at $25.82 billion, which is anticipated to grow to over $30 billion by the end of this year. The market is expected to experience a CAGR of 11.49% during the forecasted period of 2024 to 2029 to reach a total valuation of $54.52 billion.

“The cultivation of cannabis has become more sophisticated, with the advent of modern growing techniques and technologies”, states the report. “This has led to increased product quality and diversity, ranging from traditional flower products to concentrates, edibles, topicals, and more.”
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Nov 27 2023

New Hampshire Commission Fails to Reach Consensus on Marijuana Legalization Policy

A commission established by New Hampshire lawmakers has failed to come to an agreement on if and how the state should go about legalizing recreational marijuana.

In August Governor Sununu signed into law legislation creating a commission designed to prepare the state for the legalization of marijuana and give recommendations on how lawmakers can most effectively achieve that goal. The commission has now concluded its meetings without coming to any agreement, with members often sparring over specific details.

The chairman of the commission, Senator Tim Lang (R), put forth a framework that would see the state operating marijuana retail outlets, with products taxed at 15%.
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