Nearly $160 Million in Legal Marijuana Sold in Illinois in September, Prices Reach All-Time Lows

In September, Illinois saw marijuana sales above $150 million for the 12th consecutive month.

According to updated numbers provided by the Illinois Cannabis Regulation Oversight Officer, there was $136.5 worth of recreational marijuana sold in September, in addition to $21.7 million worth of medical marijuana. The combined $158.2 million is a noticable dip from the $165 million sold last month and last September. Still, the state’s legal marijuana industry has continued to remain consistent, with monthy sales above $150 million since September 2023.

Of the recreational marijuana sold in September, $106.1 million was purchased by those living in Illinois, with out-of-state residents purchasing $30.4 million worth of marijuana and marijuana products during the same period.
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Kamala Harris Campaign Pledges To Work With Congress To Legalize Marijuana at the Federal Level

The campaign for Vice President Kamala Harris, the Democratic nominee for president, released a policy agenda this week that includes a pledge to “legalize marijuana at the federal level.”

Harris promises to “work with Congress to ensure that the safe cultivation, distribution, and possession of recreational marijuana is the law of the land” if elected next month. This pledge comes nearly two weeks after Harris said in an interview, “I just think we have come to a point where we have to understand that we need to legalize [marijuana] and stop criminalizing this behavior.”
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Here’s the Most Popular Marijuana Strains in North Carolina As of October 2024

Marijuana remains illegal in North Carolina, yet many strains remain popular among consumers across the state.

Tahoe OG.

Despite the prohibition, residents turn to nearby states with legal markets, online sources, and the black market to access their favorite strains. Here, we explore the most popular strains that are in demand in North Carolina as of October 2024, using data provided by our readers as well as Leafly.
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Delaware Governor Signs Bill Allowing Marijuana Banking

Legislation to protect banks and other financial institutions that provide services to state-legal marijuana businesses has been signed into law by Governor John Carney.

House Bill 355, sponsored by Representative Ed Osienski and Senator Trey Paradee, clarifies that providing financial services to legal cannabis businesses is lawful under Delaware state law. Passage of the bill removes a major barrier for the cannabis industry, which has struggled to access traditional banking services due to the continued federal classification of marijuana as a Schedule I drug.

“This legislation is a critical step forward for Delaware’s cannabis industry,” said State Treasurer Colleen Davis. “By ensuring safe access to banking services, we are empowering legitimate businesses to operate transparently and securely.”
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The Most Popular Marijuana Strains in Washington State Right Now

As one of the first two states to legalize recreational marijuana, Washington has long been a leader in the U.S. marijuana market. This early start has allowed the state to develop a thriving industry, with numerous strains emerging as favorites among consumers.

Apple Fritter.

Using data from a variety of licensed cannabis stores located throughout the state, as well as data provided by Leafly, below is a breakdown of the most popular marijuana strains in Washington State as of October 2024.
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Massachusetts Poll: 42% Support Initiative to Legalize Psychedelics, 44% Oppose, Campaign Raises Over $6 Million

Massachusetts voters could become the next state to legalize psychedelics if they choose to approve Question 4 next month. Polling shows it’s likely to be a close race.

Mescaline (top left), ibogaine (top right), psilocybin mushrooms (bottom left), and DMT (bottom right). All four would be legalized under the initiative put forth by Massachusetts for Mental Health Options.

Question 4, being voted on November 5 and put forth by the nonprofit Massachusetts for Mental Health Options (MMHO), would legalize the possession and personal cultivation of up to one gram of DMT, 18 grams of non-peyote mescaline, 30 grams of Ibogaine, one gram of psilocybin, and one gram of psilocin. Possessing up to twice this amount would be punishable by a fine of up to $100.

The initiative would “expand mental health treatment options in Massachusetts by providing new pathways to access natural psychedelic medicine therapy,” including “creating access to natural psychedelic medicine therapy and removing criminal penalties for personal possession of these medicines.” The law would allow licensed service centers to supply psychedelics, overseen by a newly-created Natural Psychedelic Substances Commission, modeled after the state’s Cannabis Control Commission.
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California Judge Upholds Statewide Ban on Hemp Products Containing THC

A California judge has temporarily upheld a comprehensive statewide ban on most consumer hemp products containing THC.

On Friday, Superior Court Judge Stephen Goorvitch denied a request from the hemp industry for a temporary restraining order (TRO) against the restrictions, which were put in place by Governor Newsom last month. These regulations prohibit the sale of any industrial hemp food, beverage, or dietary product for consumption if it contains THC or other “intoxicating cannabinoids”, pending resolution of a lawsuit challenging the ban.

The request for a TRO was filed in late September in Los Angeles Superior Court by the U.S. Hemp Roundtable, a trade group, along with six hemp companies. This action followed California’s implementation of a ban on intoxicating hemp products. The lawsuit aimed at overturning the ban is set for trial proceedings beginning on November 22, according to court records.
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Study: CBD Shows Therapeutic Potential for Gut Health and Related Conditions

A recent literature review published in the journal Cells by explores the multifaceted therapeutic effects of cannabidiol (CBD) on the gastrointestinal (GI) system.

This non-psychotropic compound, found in Cannabis sativa, has demonstrated promising modulatory effects across various bodily systems, including the central nervous and immune systems.

The review, conducted by researchers from the University of Toledo, the University of Louisville School of Medicine, and Tulane University School of Medicine,  highlights CBD’s ability to interact with multiple receptors—both cannabinoid and non-cannabinoid—while also exhibiting antioxidant properties that function independently of these receptors. These interactions play a crucial role in influencing intestinal permeability, the microbiome, immune cells, and cytokines, making CBD a potential therapeutic agent for conditions like inflammatory bowel disease (IBD).
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Report: US Cannabis Industry Needs Up to $130 Billion to Grow, Offering $2.4 Billion in Potential Interest for Banks

A new report released today by Whitney Economics (WE) highlights the significant financial needs of the U.S. cannabis industry, projecting that between $65.6 billion and $130.7 billion in sustainable growth capital will be necessary to support new cannabis businesses and refinance existing ones over the next decade.

This investment could generate an estimated $1.0 billion to $2.4 billion in interest revenue for financial institutions that engage in cannabis lending.

Published with support from CTrust—a business credit scoring and monitoring agency for the cannabis industry—and Green Check, a fintech connector for the emerging market, the report emphasizes the industry’s expanding financial landscape. It projects U.S. cannabis retail sales to grow from $28.8 billion in 2023 to $87.0 billion by 2035. To sustain this growth, the number of cannabis licenses is expected to increase from approximately 40,000 today to between 65,000 and 70,000, providing new opportunities for lending and investment.
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Supreme Court Weighs RICO Lawsuit Over Hemp-Based CBD Product That Cost Trucker His Job

The U.S. Supreme Court held a hearing today to deliberate on a case involving a truck driver, Douglas Horn, who was fired after testing positive for THC following the use of a hemp-based CBD product.

Horn claims the product, marketed as containing “0% THC” by companies including Medical Marijuana Inc. and Dixie Holdings LLC, led to his wrongful termination. His lawsuit hinges on the Racketeer Influenced and Corrupt Organizations (RICO) Act, a law typically reserved for combatting organized crime but also applicable to civil claims.

Horn, who had been a truck driver for 14 years, began using the hemp-based supplement to alleviate chronic pain from a car accident. The product, Dixie X, was advertised as THC-free and compliant with federal regulations. After testing positive during a random drug screening, Horn was dismissed from his job, despite his assertion that he had never used marijuana and relied on the product in good faith.
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