Dec 17 2024

Michigan Marijuana Sales Reach $276 Million in November, $2.8 Billion Year-to-Date

In Michigan, the state’s legal marijuana market brought in over $275 million in sales in November.

In November, marijuana and marijuana products generated $276,363,269 in sales, according to data from the Michigan Cannabis Regulatory Agency (CRA). Recreational marijuana made up the vast majority of sales, while medical marijuana contributed $884,669.59. These figures mark an increase from October’s $270 million, and they bring the year-to-date total for the state to around $2.8 billion.

The all-time total for recreational sales has now reached $9,952,493,286.39, while medical marijuana sales have hit $1,620,782,323.81, combining for a total of $11,573,275,610.
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Dec 17 2024

Federally Funded Survey Finds Marijuana Use By Teens at Historic Lows

Federally funded survey data from the University of Michigan reveals that teen marijuana use has dropped significantly over the past decade, reaching historic lows.

The annual Monitoring the Future report finds that cannabis use among young people is at a 30-year low, consistent with trends previously reported by the Centers for Disease Control and Prevention and the National Survey on Drug Use and Health.

Over the past decade, during which 24 states have legalized adult-use marijuana sales, the percentage of 8th graders, 10th graders, and 12th graders who reported having ever consumed marijuana decreased by 32%, 37%, and 23%, respectively.
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Dec 16 2024

Clinical Trial: CBD Shows Potential for Reducing Anxiety in Women With Advanced Breast Cancer

A study published in JAMA Network Open found that cannabidiol (CBD) may alleviate anxiety in women with advanced breast cancer.

The randomized, double-masked clinical trial was conducted by researchers from the Dana-Farber Cancer Institute, Harvard Medical School, New York Medical College, and Cambridge. The study included 50 participants aged 18 and older with baseline clinical anxiety. Half received a single 400-mg oral dose of CBD, while the other half received a placebo, administered within 48 hours of tumor burden scans.

While the primary outcome—changes in anxiety scores before and after ingestion—did not show a significant difference between the two groups, the study revealed encouraging secondary findings. Participants who received CBD had significantly lower anxiety levels two to four hours after ingestion compared to the placebo group. Additionally, no severe side effects were reported.
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Dec 16 2024

Kentucky Completes Second Medical Marijuana Dispensary License Lottery, Announces 12 Winners

Today, Governor Andy Beshear announced the results of Team Kentucky’s second medical cannabis dispensary license lottery held at the Kentucky Lottery Corporation. Twelve applicants were selected through a random number generator.

“Today’s drawing concludes the process for the medical cannabis business licenses lottery at this time,” said Governor Beshear. “Team Kentucky remains focused on building this emerging industry the right way. Ultimately, this program is about the patients, and we are excited about building this program so that they have access at the soonest possible date.”

Two drawings were held for the following regions:
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Dec 16 2024

MindMed Launches Phase 3 Trials for LSD-Based Treatment to Tackle Anxiety Disorders, Announces First Patient Dosed

Mind Medicine Inc., a clinical-stage biopharmaceutical company developing novel product candidates to treat brain health disorders, today announced that the first patient has been dosed in its Phase 3 Voyage study of MM120 ODT, a pharmaceutically optimized form of lysergide D-tartrate (LSD) for the treatment of GAD.

Representative Image of MM120 ODT/Courtesy of Catalent.

Voyage is the first of two Phase 3 studies in GAD evaluating the efficacy and safety of MM120 ODT versus placebo and is expected to enroll approximately 200 participants in the United States. The Panorama study, the second Phase 3 trial, will be conducted in the U.S. and Europe and is on track to initiate in the first half of 2025.

“Today marks a pivotal moment in our journey towards advancing a novel treatment option for the 20 million people1 in the U.S. living with GAD. Building on our scientifically rigorous Phase 2b study, which demonstrated efficacy that far exceeds today’s standard of care and a favorable tolerability profile, our Phase 3 studies are designed to adhere to the highest clinical and ethical standards and are in alignment with guidance from the U.S. Food and Drug Administration,” said Daniel R. Karlin, M.D., M.A., Chief Medical Officer of MindMed.
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Dec 16 2024

Pennsylvania Governor Announces Marijuana Legalization Will be Included in 2025 Budget Request

Governor Josh Shapiro has confirmed that his upcoming budget proposal will include a plan to legalize recreational marijuana in Pennsylvania.

This announcement follows the announcement earlier this month of a bipartisan bill being filed by State Representatives Rick Krajewski and Dan Frankel, aimed at establishing a legal, taxed and regulated marketplace for marijuana for everyone 21 and older. The governor has emphasized the potential economic benefits, projecting $41 million in tax revenue during the first year and nearly $300 million annually once the industry matures.

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Dec 16 2024

Study Says Psychedelics “May Hold Potential as a Safe and Effective Treatment for Bipolar Disorder”

Researchers from the University of Texas have conducted a study examining the impact of recreational psychedelics on bipolar disorder.

Dried psilocybin mushroom.

Published online ahead of print by the US National Library of Medicine, the study, appearing in the upcoming issue of the Journal of Affective Disorders, examines how substances like psilocybin affect individuals with bipolar disorder (BD), a group often excluded from clinical trials due to concerns about manic episodes or psychosis.

Using the Time-Line Follow Back (TLFB) method, the researchers tracked participants’ mood symptoms, substance use, and other mental health-related variables over three months following their most recent psychedelic experience.
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Dec 16 2024

Ohio: $338 Million in Legal Marijuana Sold Since August 7, Garnering $40 Million in Taxes

Updated data released today by the Ohio Division of Cannabis Control (DCC) shows that since the start of recreational sales on August 7, there’s been over $338 million in marijuana sales.

According to the DCC, licensed marijuana stores sold $338,997,057 worth of product between August 7 and December 14, spread across 4,177,377 different transactions. These numbers were bolstered by $18,277,744 in sales for the week of December 7 to December 14.

Ohio’s all-time total for legal marijuana sales, encompassing both recreational and medical markets, now stands at $2,257,006,868 across 20,507,180 transactions.
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Dec 16 2024

Cannabis Bioscience International Holdings Files Petition to Include Alexis Bortell as Witness in DEA Rescheduling Hearing

Cannabis Bioscience International Holdings (CBIH) is formally petitioning to have Ms. Alexis Bortell, long-time cannabis advocate and patient, to serve as a witness in the upcoming DEA hearing on marijuana rescheduling.

According to a press release sent today by CHIH, Alexis Bortell has been a leading voice in the fight for medical cannabis access since being diagnosed with intractable epilepsy at the age of seven.

“After enduring years of ineffective treatments with conventional anti-epileptic drugs, her remaining options were: Felbatol (Felbamate), a drug with serious and potentially life-threatening side effects, including dependency and abuse, or a lobectomy, an invasive brain surgery with the risk of devastating outcomes such as memory loss, impaired motor function, and emotional disorders”, states CBIH. “Ultimately, she found lasting relief through a combination of CBD and THC, a treatment that has kept her seizure-free for nearly a decade. Her story underscores the tragic impact of cannabis’ Schedule I classification, which perpetuates stigma that has severely limited her career opportunities in medical school due to drug tests, dictates where she must live, and creates completely unnecessary barriers to accessing her life-saving medication.”
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Dec 16 2024

New Jersey Doubles Marijuana Social Equity Fee, Announces January Start for Cannabis Lounge Applications

The New Jersey Cannabis Regulatory Commission (CRC) has approved increase in the state’s social equity excise fee (SEEF), and introduced an application process for cannabis consumption lounges.

Starting January 1, 2025, the SEEF will increase from $1.24 to $2.50 per ounce. Revenue from this fee is directed toward programs supporting education, economic development, and social services in communities disproportionately affected by the war on drugs.

Over the past fiscal year, New Jersey generated approximately $2.6 million from the SEEF. The fee had previously fluctuated, dropping from $1.52 in 2023 to $1.24 in 2024, after starting at $1.10 when recreational marijuana sales were legalized.
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