Jan 09 2024

Legislation to Legalize Personal Marijuana Cultivation Filed in New Jersey Senate

A legislative bill that would allow marijuana to be grown for medical and recreational use has been filed in New Jersey’s Senate.

Senate Bill 1985 today was “Introduced in the Senate, Referred to Senate Judiciary Committee”. The measure was filed by Senator Vin Gopal along with cosponsors Senators Troy Singleton, Patrick Diegnan, Shirley Turner and Andrew Zwicker.

The proposed law  would legalize “growing or possessing up to six marijuana plants for personal recreational use, and up to 10 plants for personal medical use, by persons aged 21 or older.”
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Jan 09 2024

Bipartisan Washington State Bill Would Ban Marijuana Concentrates With Over 35% THC

Legislation that would prohibit most recreational marijuana concentrates (oil, wax, hash, etc.) in Washington State has been refiled in the House of Representatives.

Sticky Frog Live Resin Sugar, which is sold throughout Washington State with THC percentages often between 80 and 97%.

House Bill 1642 is sponsored by State Representative Lauren Davis along with a bipartisan coalition of 11 cosponsors. The measure was first filed in January, 2023 and assigned to the House Committee on Regulated Substances & Gaming. Yesterday the measure was “reintroduced and retained in present status”.

The legislation “Prohibits licensed cannabis retailers from selling cannabis concentrates with a tetrahydrocannabinol (THC) concentration greater than 35 percent, except for cannabis retailers with a medical cannabis endorsement who may continue to sell these products to qualifying patients and designated providers who are entered in the Medical Cannabis Authorization Database.”
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Jan 09 2024

US Legislation to Allow Marijuana Banking Sponsored by Lawmakers From 37 States

Federal legislation to allow banks to provide financial services to state-legal marijuana businesses is sponsored by lawmakers from 37 different states.

The SAFE Banking Act in the US House of Representatives has 98 sponsors, while the SAFER Banking Act has 35 sponsors in the Senate. Although the SAFER Banking Act is an updated version of the SAFE Banking Act (filed five months later in September) and includes several additional provisions, both measures would allow banks and other financial institutes like credit unions to provide services to marijuana businesses that are legal under their state’s law.

In September the Senate version of the bill received approval by the Senate Committee on Banking, Housing and Urban Affairs, with Senate Majority Leader Chuck Schumer saying November that the full Senate is “getting close” to a vote.
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Jan 09 2024

In US Over 2.3 Million Marijuana Expungements Issued Since 2018

According to an analysis by the National Organization for the Reform of Marijuana Laws, state courts have either expunged or sealed the records of more than two million marijuana-related cases since 2018.

According to publicly available data, state and local courts have expunged an estimated 2.3 million marijuana-related cases. States that have been most active in providing relief to those with past convictions include California, Illinois, Missouri, New Jersey, New York, and Virginia.

Twenty-four states and the District of Columbia have enacted laws in recent years providing explicit pathways to either expunge, seal, annul, or otherwise set aside the records of those with low-level marijuana convictions. In some jurisdictions — such as California, Connecticut, Illinois, Missouri, and New Jersey — courts automatically review past records and notify those who meet the state’s criteria for expungement. In other jurisdictions — such as Arizona and Massachusetts — laws require those seeking legal relief to petition the courts to have their records reviewed and vacated.
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Jan 09 2024

$283 Million Worth of Medical Marijuana Sold in Arkansas in 2023, Over $1 Billion Since 2020

2023 was a record-breaking year for medical marijuana sales in Arkansas.

According to data released by the Arkansas  Department of Finance and Administration, there was $283 million worth of medical marijuana and medical marijuana products sold throughout 2023. Sales included marijuana flower as well as a variety of marijuana products such as tinctures, lotions and capsules.

The $283 million in sales brings the total since 2020 to over $1 billion, and the total since the start of medical marijuana sales in 2019 to $1.035 billion.
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Jan 08 2024

New Jersey Assembly and Senate Approves Bill to Allow State Officers to Represent Marijuana Businesses

New Jersey’s full Senate and Assembly have given approval to legislation to allow state officers to represent marijuana businesses and marijuana business applicants.

Senate Bill 4268 was given approval today in the Senate by an overwhelming vote of 33 to 2. The measure, filed by Senator Nicholas Scutari, was then amended slightly and passed in the Assembly 48 to 26. Given it was amended in the Assembly, it will need to go back to the Senate for one final vote of concurrence before it can be sent to Governor Phil Murphy for consideration.

This bill, as amended, “would permit special State officers or employees who do not have responsibility for matters affecting medical cannabis or personal use cannabis business activities to represent, appear for, or negotiate on behalf of cannabis businesses, applicants for cannabis businesses, and certain other entities associated with cannabis business activities, such as an entity that employs or uses a medical or personal use cannabis handler to perform work for or on behalf of a cannabis business.”
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Jan 08 2024

Study: Colleges See Increase in Applications Following State Marijuana Legalization

When a state legalizes marijuana, colleges in that state see a large increase in applicants, according to a recently published study.

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The study was conducted by researchers at Oxford College and the University of South Carolina, and it published in the peer-reviewed journal Contemporary Economic Policy with the title Higher education: The impact of recreational marijuana on college applications.

“Using a two-way fixed effects difference-in-differences model, we investigate the effects of local recreational marijuana (RMJ) policy changes on college applications and find that the three largest state public schools reaped, on average, an almost 54% increase in applications”, states the study.
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Jan 08 2024

Maine: $19 Million in Legal Marijuana Sold in December, $216 Million in 2023

Maine marijuana sales passed $200 million in 2023.

There was $19,310,089 worth of marijuana and marijuana products sold via licensed retail outlets in Maine in December, according to the state’s Office of Cannabis Policy. These sales were spread out among 338,983 transactions different transactions.

December sales bring the total marijuana sales for 2023 to $216.86 million.
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Jan 08 2024

US House Bill to Decriminalize and Deschedule Marijuana Sponsored by Lawmakers From 26 States

A federal House bill to fully decriminalize marijuana across the United States is sponsored by lawmakers representing the majority of states.

The Marijuana Opportunity Reinvestment and Expungement (MORE) Act, first filed by Representative Jerrold Nadler (D) in September, has 80 sponsors. These sponsors represent 26 different states, including states that are typically seen as more conservative like Tennessee, Texas and Ohio.

The MORE Act would completely deschedule marijuana, removing it from the federal list of controlled substances. This would decriminalize marijuana nationwide, while placing a 5% tax (that rises to 8% by the fifth year) on legal marijuana sales in states that decide to allow it.
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Jan 08 2024

Report: Medical Marijuana Market Valued at $14.50 Billion, to Grow to $60 Billion Value by 2030

The global market for medical marijuana was valued at $14.50 billion in 2022 and is expected to more than quadruple by 2030.

According to a new report conducted by the research firm SkyQuest, the global market for medical marijuana grew was $11.84 billion in 2021 to $14.50 billion in 2022. It’s anticipated to grow to be worth over $60 billion by 2030, representation an eye-opening compound annual growth rate of 22.5%.

“The medical cannabis market is currently in a phase of significant growth, primarily attributed to the increasing awareness surrounding its diverse therapeutic applications”, states the report. “Cannabis and its derivatives, including CBD and THC, have garnered attention for their potential to address various health concerns.”
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