Sep 01 2023
According to data released by the New Mexico Regulation & Licensing Department, marijuana retail outlets sold $47,714,498.16 worth of marijuana in August, falling just short of but essentially tying the monthly record of $47,759,256.32 sold in May.
Of the $47.7 million sold, $14.4 million was medical marijuana and $33.3 million was recreational marijuana.
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Sep 01 2023
The Assembly Appropriations Committee has given approval to Senate Bill 58, a measure to legalize the “possession, preparation, obtaining, transfer, as specified, or transportation of” psilocybin, psilocyn, mescaline, ibogaine and DMT. The Assembly Health and Public Safety Committees have already voted in favor of the bill, as has the state’s full Senate.
The bill, which would also legalize “any spores or mycelium capable of producing mushrooms or other material which contain psilocybin or psilocyn”, will now be allowed a vote by the full Assembly. If it’s passed by the Assembly it will need to go back to the Senate for one final vote before it can be sent to Governor Gavin Newsom, given it was amended slightly in committee.
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Sep 01 2023
Last week, on August 24, the Global Cannabis Stock Index was at 7.29, the lowest ever recorded since the index’s creation in 2013. As of yesterday, August 31, the index had jumped to 8.91, a 22% increase. This jump came one day after the Department of Health news. As of the time of publication the index rose slightly more to 8.93 (its high for the day is 9.19).
The last time the index was above 8.50 was in the middle of March. The 8.93 represented currently still marks a roughly 20% decrease from the high point of the year (11.28 in February).
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Sep 01 2023
It is the second collective bargaining agreement in the Michigan cannabis industry that the Teamsters have ratified, and the first in the Western part of the state.
The agreement features significant improvements, including an immediate raise with a three percent wage increase for all workers each following year, guaranteed gratuities and increased transparency around the way they are distributed, guaranteed discounts, seniority, protections from unjust termination and discipline, enhanced safety for drivers, and more paid time off.
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Sep 01 2023
Proponents of the measure must now collect 17,509 signatures from registered South Dakota voters in order to put the issue before voters in November, 2024.
If the initiative is placed on the ballot and passed into law, the possession of up to two ounces of marijuana and the cultivation of up to six plants would be allowed for those 21+. Marijuana use would be restricted “where tobacco is prohibited”, and the initiative would have no impact on the state’s current hemp and medical marijuana laws.
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Sep 01 2023
Conducted by researchers at the University of Basel, the aim of this “prospective, placebo-controlled, double-blind, randomized, cross-over study was to determine cannabinoid levels in blood and driving-related ability after single (S1) and repetitive (S2) vaporization of cannabis rich in cannabidiol (CBD)”. The study was published online ahead of print by the US National Library of Medicine.
For the study healthy adult volunteers were given either low-THC/CBD-rich cannabis products or a placebo. Main outcomes were “THC- and CBD-levels in whole blood and overall assessment of driving-related ability by computerized tests.”
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Aug 30 2023
The subcommittee work session on House Bill 544 will take place at 10 am in Legislative Office Building 302-304. The proposed law was filed by State Representative Daniel Eaton along with with cosponsors.
House Bill 544 would regulate marijuana similar to alcohol. It would put control of the legal marijuana market in the hands of the state liquor commission.
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Aug 30 2023
“I can now share that, following the data and science, @HHSGov has responded to @POTUS’ directive to me for the Department to provide a scheduling recommendation for marijuana to the DEA”, said Secretary of Health Xavier Becerra in a social media post. “We’ve worked to ensure that a scientific evaluation be completed and shared expeditiously.” The social media post was made at exactly 4:20pm.
In the letter addressed to the Drug Enforcement Agency (DEA) the Department of Health asked for marijuana to be reclassified as a Schedule III drug under the Controlled Substances Act, allowing it to be used for medical purposes (other schedule III drugs include codeine and testosterone).
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Aug 30 2023
The new fund was established under the state’s marijuana legalization law. It offers social equity licensees loans with a fixed rate of 3%. In addition applicants who enroll in and complete SEC’s accelerator program will receive a 1.5% interest rate discount.
“Access to fair, safe and equitable funding for cannabis businesses is critical to standing up and building strong companies,” SEC Executive Director Ginne-Rae Clay said yesterday in a press release. “Connecticut is among the first states to offer direct state financial assistance to ‘budding’ cannabis entrepreneurs.”
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Aug 30 2023
The over tripling of value by 2030 would mark a compound annual growth rate (CAGR) of 12.1% during the forecast period of 2022 to 2030, finds the report conducted and released by Report Ocean.
“Cannabis oil is anti-inflammatory and acts as a pain reliever”, states the report. “In addition, it offers superior moisturization and unclogs the pores. Moreover, the rising use of cannabis oil in skincare products will drive the growth of the market.”
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