For the sixth time this year, monthly marijuana tax revenue in Colorado was a little over $22 million.

In total the state garnered $22,125,036 in taxes from the legal distribution of marijuana and marijuana products, according to the Colorado Department of Revenue. This is on par with the $22.7 million sold in October and the $22.6 million sold in September. The high point for the year came in April (perhaps unsurprisingly), with $25.1 million.

Colorado’s year-to-date revenue for marijuana taxes is now $247 million. The total since the start of legal sales in 2014 is $2,599,068,573.
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 According to a new report, the global market for cannabidiol (CBD) was valued at $7.6 billion in 2023 and is anticipated to reach approximately $36.6 billion by 2033.

CBD tincture.

Over the period from 2024 to 2033, the CBD market is projected to experience a compound annual growth rate (CAGR) of 17.5%.

“CBD is renowned for its efficacy in pain alleviation, seizure management, and anxiety treatment”, states the report. “This has fueled a burgeoning demand for CBD in health and wellness sectors, propelling the market forward. Government approvals further contribute to the growing acceptance and utilization of CBD-infused products, fostering increased manufacturing to meet the rising consumer demand.”
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North Carolina Congressmember Chuck Edwards continues to push the “Stop Pot Act” he filed in September, despite it gaining little traction thus far.

The Stop Pot Act would withhold federal funding from states and tribes that have legalized recreational marijuana. The measure is cosponsored by Representatives David Rouzer (NC), Gregory Murphy (NC), Pete Sessions (TX) and John Rose (TN), all Republican.

Despite receiving public backlash following the bill’s introduction, Representative Edwards is pushing forward with his effort to get the bill passed by the Republican-controlled House of Representatives. Recently his office began circulating a letter to congressional colleagues seeking additional cosponsors for the Stop Pot Act.
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New Jersey’s Cannabis Regulatory Commission (CRM) has announced that they have drastically decreased the cost of enrolling in the state’s medical marijuana program.

The CRM has announced that the cost to enroll in the medical marijuana program for a two-year period, and the cost to renew enrollment, has dropped from the previous price of $50, down to just $10. The change is effective immediately.

“Many patients face barriers to accessing treatment due to costs, like paying out of pocket for doctor’s visits and the cost of cannabis”, says Jeff Brown, Executive Director of the CRC. ” NJ-CRC is doing everything in our power to eliminate as many barriers as possible to ensure those who can benefit from cannabis treatment remain in the program”.
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A bipartisan pair of lawmakers in Pennsylvania have announced that they will soon be refiling legislation that would decriminalize the personal possession of marijuana.

Under the proposed law, introduced by Senators Sharif Street (D) and Camera Bartolotta (R), the personal possession of marijuana would become, at most, a $25 fine. Consuming marijuana in public would be a fine of up to $100.

Under current Pennsylvania law, even a miniscule amount of marijuana is a misdemeanor punishable by up to 30 days and jail and a driver’s license suspension of six month

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Although marijuana sales dropped between October and November, so did marijuana prices.

There was $17,635,649 worth of legal marijuana purchased in November, spread out among 315,978 different transactions. This is according to new data released by Maine’s Office of Cannabis Policy.

Although sales were down slightly from the $18.9 million sold in October, the average cost per gram dropped to an all-time low of $7.52, down from the $7.67 average in October and the $7.81 average for the year as a whole. This is the third straight month where the average price per gram dropped to a record low.
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Legislation in the House of Representatives that would decriminalize and fully deschedule marijuana now has 76 sponsors.

The Marijuana Opportunity Reinvestment and Expungement (MORE) Act was filed in September by US Representative Jerrold Nadler (D) along with four cosponsors. By the end of November the number of cosponsors climbed to 73.

On Wednesday, Representatives Jamaal Bowman (D-NY), Jesús García (D-IL) and Mark Takano (D-CA) signed on as cosponsors, bringing the total number to 76. This represents 17% of the entire House of Representatives, and over a third of all House Democrats.
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