Aug 16 2023

North Carolina Committee Passes Bill to Regulate Kratom and Hemp-Derived Consumables

A key North Carolina committee has approved legislation that will establish a regulatory and licensing system for both kratom and products made from hemp.

Hemp (left) and kratom (right).

The House Committee on Finance has given a favorable report to House Bill 563, allowing it to be referred to the Rules, Calendar, and Operations Committee (RCOC), the last step before it can be considered by the full House of Representatives. The RCOC held a public hearing on the measure this morning.

According to its official summary, the measure would:

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Aug 16 2023

Missouri Regulators Issue Recall of Over 62,000 Marijuana Products

The Missouri Division of Cannabis Regulation (MDCR) has issued a recall covering more than 62,000 different marijuana products throughout the state.

The MDCR says they are “issuing a patient and consumer communication to alert patients and consumers about a mandatory product recall” affecting “manufactured products sold to dispensaries and manufacturers by infused product manufacturer, Delta Extraction, LLC, MAN000022.”

The agency says the “recalled products were not compliantly tracked in the statewide track and trace system (METRC) in order for [Division of Cannabis Regulation] to verify the products came from marijuana grown in Missouri or that the product passed required testing prior to being sold at dispensaries.”
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Aug 15 2023

Missouri Marijuana Sales Pass $123 Million in July

In Missouri there was over $123 million in marijuana sold legally in July, a modest increase from the month prior.

For the sixth straight month Missouri marijuana sales passed $100 million, with $123.2 million in sales for July. This is the second highest month so far this year (falling $3 million short of the $126 million sold in March), and it brings the year-to-date total to $752 million.

The $123.2 million sold in July is a roughly $2 million increase over the $121 million sold in June. Of the $123.2 million sold, $98.7 million was recreational marijuana with $24.5 million being sold to medical marijuana patients.
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Aug 15 2023

Montana Marijuana Sales Reach $28.5 Million in July, Break Monthly Record

In Montana July broke a record for the most legal marijuana sold in a single month.

According to data released by the Montana Cannabis Control Division, licensed marijuana stores sold $28,552,001 worth of marijuana and marijuana products in July. This beats the previous record of $27,098,679, set in March of this year, by nearly $1.5 million.

The marijuana sales total for July was $1.6 million more than the total for June ($26,935,335) and $2.5 million more than May ($26,096,828). Of the $28.5 million in marijuana sold, $23,505,205 was purchased by recreational consumers with $5,046,795 purchased by medical marijuana patients. These sales resulted in around $4.5 million in tax revenue.
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Aug 15 2023

As Ohio Prepares to Vote on Legalization, Report Says State Could Make $403 Million In Annual Marijuana Taxes

With it looking likely that marijuana legalization will be on the ballot this November in Ohio, a new report shows just how much the state could gain from legalizing and taxing the plant.

According to a new report released by researchers from Ohio State University, the state could gain up to $403 million in new tax revenue from the legal distribution of marijuana and marijuana products to those 21 and older.

The report examined marijuana sales data in a variety of other legal marijuana states between 2018 and 2023, including in Michigan which has a similar population as Ohio.
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Aug 15 2023

Report: Cannabis Infused Edibles Market Worth $9.68 Billion, to Grow to $20 Billion by 2028

According to a new report, the global market for legal cannabis infused edibles is worth almost $10 billion as of the start of 2023, and it’s expected to grow rapidly in the coming years.

The Cannabis Infused Edible Products Market size is expected to grow from $9.68 billion in 2023 to $20.60 billion by 2028, at a compound annual growth rate of 16.30% during the forecast period (2023-2028).

“The fact that edibles are inconspicuous and allow consumers to devour unknowingly, has shifted consumer preferences from smoking towards edibles”, states the report, released by ReportLinker. “This growing popularity has led edibles to penetrate most of the United States retails, where the state must have some specific cannabis or marijuana regulated laws.”
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Aug 15 2023

Study: Medical Cannabis Decreases Symptoms of Neurological Disorders in 96% of Patients

In a new study the vast majority of patients with neurological disorders receive symptom relief from marijuana use.

According to researchers “the purpose of this study was to investigate the quality of life of patients receiving medical cannabis.” One hundred patients receiving medical cannabis were given (a) a socio-demographic and clinical questionnaire, and (b) the SF-36 Health Survey scale for assessing quality of life.

“The majority of our patients who received medical cannabis to treat their neurological disorders (58%) reported decrease in their symptoms (96%), better energy and vitality (68%), ability to perform their professional duties (88%), and an improvement in sleeping and appetite (79% and 71%, respectively) after receiving medical cannabis”, states the study.
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Aug 15 2023

Marijuana Use Not Associated With Negative Survival Outcomes in Liver Transplant Patients, Finds Study

According to a new study a history of using marijuana is not associated with a decrease in survival rates among liver transplant patients, despite some marijuana users being denied such transplants.

The study was conducted by researchers at the University of Ottawa and the University of British Columbia, and is published in the Canadian Liver Journal and the US National Library of Medicine.

With the “aim to investigate liver transplantation candidacy and outcomes among cannabis users”, researchers conducted a meta-analysis of eight peer-reviewed studies involving over 5,000 patients.
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Aug 15 2023

Oregon Bill to Study State-Run Bank, Potentially Useable by Marijuana Businesses, Vetoed by Governor

Legislation that would study the creation of a state-run bank that could potentially be useable by marijuana businesses has been vetoed by Governor Tina Kotek.

House Bill 2763 was filed by State Representatives Mark Gamba and Jules Walters in the House and Senator Jeff Golden in the Senate. It was passed by the full legislature in June. The proposal would establish a 19-member task force designed to study the idea of the state operating a public bank.

Specifically they would be responsible for examining the “potential benefits and harms from the bank to state and local jurisdictions and private industries, including potential benefits and harms of a state bank engaging in lending, payments or providing other public financial infrastructure”, including “financial services for cannabis businesses.” A report would have been required by September, 2024.
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Aug 14 2023

Alaska Made Over $2.2 Million in Marijuana Taxes in June

According to data released by the Alaska Department of Revenue, the state made over $2.2 million in taxes from the legal distribution of marijuana in June.

In total the state with a population of less than 750,000 people made $2,282,147 in marijuana tax revenue in June, a slight decrease from the $2,398,053 made in May. The high point for the year was in March, with $2.5 million in taxes made from legal marijuana. The low point was in February, with $2.1 million in marijuana taxes.

The year-to-date marijuana tax total for Alaska is now $28,154,513.
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