Nov 01 2023
According to the New Mexico Regulation & Licensing Department, there was $46,682,243 worth of legal marijuana sold throughout October, roughly $1 million short of the record breaking $47.7 million sold in August.
In October medical marijuana patients purchased $12,051,505 worth of marijuana and marijuana products, with adult-use sales reaching $34.6 million.
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Nov 01 2023
(Photo credit: Getty Images).
The study by Real Estate Witch and Leafly found that property values in the 23 states that have legalized recreational marijuana have risen by $185,075 since 2014, compared to $136,092 in states without recreational marijuana. Typical home values in a recreational state are $417,625, 41% higher than in non-recreational states ($295,338).
Of the 10 states with the largest increases in home values, seven have legalized recreational cannabis. Meanwhile, of the 10 states with the smallest increases in home values, nine have not legalized recreational cannabis.
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Nov 01 2023
The commission in April voted unanimously to advise that marijuana possession warrants discretion in regards to sentencing especially given its non-violent nature. The proposed change went through a congressional review and public comment period before officially taking effect today, November 1.
The change clarifies that a downward departure from the defendant’s criminal history category may be warranted based on if “the defendant received criminal history points from a sentence for possession of marihuana for personal use, without an intent to sell or distribute it to another person.”
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Nov 01 2023
Connecticut’s recreational marijuana law was passed in July, 2021, with the first marijuana store opening in January of this year. The law allows those 21 and older to possess up to 1.5 ounces of marijuana, but they can only purchase up to a quarter of an ounce per transaction. Under the new rules change, taking effect December 1, the purchase limit will be increased to half of an ounce.
“As more retailers, production companies and other supply chain licensees have come online, the capacity of the industry has increased,” said DCP Commissioner Bryan T. Cafferelli. “We are confident this measured approach to adult-use sales has resulted in a healthy market for businesses and a safe and fair marketplace for adult-use cannabis consumers and medical marijuana patients.”
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Nov 01 2023
The university has announced that the new two-year online program under the School of Pharmacy will open in fall 2024, reports the Clarion Ledger. The course will cover two subjects; dietary supplements and medical marijuana.
“The purpose is to provide advanced training for people who are seeking employment or want to advance their current jobs in dietary supplements, which could be herbal products or medical cannabis,” says David Colby, director of online graduate programs in the biomedical sciences department
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Nov 01 2023
No specific legislation was considered during today’s hearing, but the subcommittee discussed, in detail, the potential implications of legalizing marijuana and the various approaches that could be taken if the state decides to do so. Subcommittee Chair Representative Dan Frankel (D) recently issued a memo seeking cosponsors for a forthcoming marijuana legalization bill.
The committee heard from a variety of individuals, including Penn State College of Medicine professor Kent Vrana and New Frontier Data Chief Knowledge Officer Amanda Reiman. Among those who spoke many were supportive of legalization and the social benefits that come with it, but some opposed to the idea with the common refrain being that it could negatively impact youth. This was countered with data showing that youth marijuana usage has actually decreased in legal marijuana states.
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Nov 01 2023
CBD tincture.
“We investigate the impacts of state legalization of products containing cannabidiol (CBD), a non-psychoactive alternative to marijuana, on opioid prescribing rates”, states the abstract of the study, published in the Southern Economic Journal.
“Research suggests that legalized medical marijuana may reduce opioid prescriptions, though no empirical link between CBD and opioids has been ascertained. Using county-level prescribing rates between 2010 and 2019, as well as state-level morphine milligram equivalent (MME) consumption of 8 common opioids, we estimate that state adoption of limited access cannabis product (CBD) laws leads to no change in opioid prescribing rates.”
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Nov 01 2023
The study found that this policy “will likely generate about $260 million in net benefits for society, though likely results ranged between $200 million in net costs and $1.9 billion of net benefits.”
Researchers state that their “simulation model suggests that in 90% of likely scenarios, recreational marijuana legalization will have a positive net economic benefit on society.”
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Nov 01 2023
DAZED! is a marijuana consumption lounge “with VIP booths, expertly crafted canna-cocktails and unique bong chandeliers”, according to a press release sent today. “With 3,000 square feet of mixed-used food, consumption, and entertainment space, DAZED! Lounge will redefine the cannabis experience for tourists and local customers alike.”
Larry Scheffler, co-CEO of Planet 13, says they are “thrilled to share our exciting plans for our trailblazing cannabis consumption lounge.” Scheffler says “From day one, our goal has been to out-Vegas-Vegas, and this is another big step in that direction. It’s an extraordinary space for cannabis novices, connoisseurs, tourists and locals to enjoy cannabis while experiencing world-class entertainment”.
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Nov 01 2023
According to the new Worldwide Cannabis Market Size Report, conducted by Spherical Insights, the global market for legal marijuana was valued at $26.86 billion as of the start of 2023, and it’s expected to grow to a value of $198 billion by 2032. This would mark a compound annual growth rate of 22.2% between 2022 and 2032.
“The cannabis industry’s increased emphasis on research and development is resulting in the development of new products and applications, which fuels market expansion”, states the report.
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