Aug 13 2023

Alabama Voids Medical Marijuana Licenses, Issues 24 New Licenses

In June the Alabama Medical Cannabis Commission announced the 21 companies selected to receive medical marijuana licenses. Now the state has voided those licenses before they were officially issued, while announcing the issuance of a new batch of licenses.

alabama medical marijuana

The Commission announced that they are issuing licenses to 24 companies, including seven cultivators (three more than in June). Of the 24 licenses, 19 were part of the original batch awarded licenses in June.

Commission Chair Rex Vaughn says he’s hopeful that dispensaries could be open by the end of the year, saying “I think it’s still realistic we can get there but that also depends on litigation that we may have in front of us and we can’t foresee that. But right now we have the green light to move forward and we’re very thankful that we’re in this place and we had today to regroup.”
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Aug 11 2023

Study: Cannabidivarin (CBDV) May Help Prevent Neurobehavioral Alterations From Fragile X Syndrome

The marijuana compound cannabidivarin (CBDV) has therapeutic potential for preventing neurobehavioral alterations associated with Fragile X syndrome, according to new research.

Cannabidivarin

Cannabidivarin.

The research is published in the peer-reviewed journal Cells, with the title Early Administration of the Phytocannabinoid Cannabidivarin Prevents the Neurobehavioral Abnormalities Associated with the Fmr1-KO Mouse Model of Fragile X Syndrome. The study was conducted by researchers at the University of Brescia in Italy,  SUNY Downstate Medical Center in New York City, the University of Bordeaux in France and Jazz Pharmaceuticals in the UK.

“Phytocannabinoids, including the non-addictive cannabis component cannabidivarin (CBDV), have been reported to hold therapeutic potential in several neurodevelopmental disorders (NDDs)”, states the study’s abstract. “Nonetheless, the therapeutic value of phytocannabinoids for treating Fragile X syndrome (FXS), a major NDD, remains unexplored. ”
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Aug 11 2023

Michigan: Over $275 Million in Legal Marijuana Sold in July, New Monthly Record

In July a record-breaking $276 million in legal marijuana was sold in Michigan.

According to a new report by the Michigan Cannabis Regulatory Agency, the state sold $276,746,264.07 worth of legal marijuana and marijuana products in July. This includes dried marijuana flower and shake, as well as marijuana products such as concentrates (hash, oil, etc.), edibles, tinctures and topicals.

The sales in July mark a considerable increase from the $260.8 million sold in June and the $245 million sold in May.
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Aug 10 2023

Arizona: Nearly $24 Million in Taxes Made From Legal Marijuana Sales in June, $149 Million Year-to-Date

Arizona garnered just shy of $24 million in tax revenue in June from legal marijuana sales.

According to data released by state officials, Arizona made $23,874,588 in tax revenue from the distribution of marijuana via licensed retail outlets. This is a considerable decrease from the $28.4 million made in May, but roughly on par with the $24.8 million and $23.4 million made in April and March, respectively. In February marijuana tax revenue was $23.2 million, with the state bringing in $25.1 million in January.

The year-to-date revenue from marijuana sales is now around $149 million. The total since the start of legal marijuana sales in February, 2021 is $613.5 million.
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Aug 10 2023

Israel Health Ministry Expanding Access to Medical Marijuana

Regulators in Israel have announced new changes that will greatly expand access to medical marijuana for patients.

Israel’s Health Ministry announced Tuesday a “comprehensive reform” of the nation’s medical marijuana laws. It said that the changes are designed to significantly reduce regulations, improve supervision of production and to transfer more responsibility to cannabis farmers.

Arguably the most impactful change will allow physicians to prescribe cannabis to patients as a first-line treatment, removing the requirement that it be used only as a “last resort”. Under current law doctors must try other medicines such as opioids before they can prescribe marijuana.
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Aug 10 2023

Connecticut: $23 Million in Marijuana Sold Legally in July

July marijuana sales in Connecticut were almost identical to the record-breaking total for June.

According to the Connecticut Department of Consumer Protection, there was $23,627,729.22 worth of marijuana and marijuana products sold legally in July. This is close to the record-breaking $23,906,583 sold in June. There was $22.7 million sold in May.

The total amount of marijuana sold since the start of legal recreational marijuana sales in January of this year now stands at almost $150 million.
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Aug 10 2023

Federal Court Rules Ban on Marijuana Users Possessing Guns is Unconstitutional

Banning those who use marijuana from possessing firearms is unconstitutional, according to a new ruling by a federal appeals court.

In the case United States of America versus Patrick Darnell Daniels, Jr., the U.S. Court of Appeals for the Fifth Circuit unanimously agreed to reverse the conviction of an individual sentenced to nearly four years in prison after being caught by police with firearms and then subsequently admitting to using marijuana “fourteen times a month”.

The three-judge panel cited a 2022 Supreme Court ruling which found that any regulations or restrictions on firearm use must be consistent with the original intent of the second amendment, established in 1791. The court argued that the government did not meet this standard when arguing that marijuana use disqualifies an individual from possessing guns.
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Aug 10 2023

Gallup Poll: Half of All Americans Have Tried Marijuana

According to a new Gallup poll, half of Americans (50%) say they have tried marijuana at least once, the highest ever recorded.

The 50% figure is a modest increase over the 49% in 2022 and 48% in 2021. In 2019, 45% had tried marijuana.

In answer to a separate question intended to measure current behavior, about one in six Americans (17%) say they “smoke marijuana.” This is also a new high in Gallup’s trend since 2003, albeit similar to the 16% recorded a year ago.
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Aug 09 2023

Colorado Made Over $23 Million in Marijuana Taxes and Fees in July

In July Colorado garnered over $23 million in taxes and fees from the legal marijuana industry.

According to the Colorado Department of Revenue the state made $22,399,914 in tax revenue from the legal distribution of marijuana and marijuana products in July. This is in addition to the $843,850 in fees the state earned during the same period, bringing the combined total to $23,243,765.

This marks a roughly $1 million increase from the $22,124,218 in taxes and fees the state made in June, and $300k more than the $22.9 million made in May.
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Aug 08 2023

Global Cannabis Stock Index Up 12% Since June But Down 47% From a Year Ago

The Global Cannabis Stock Index has seen a modest increase in recent weeks.

As of the time of publication the Global Cannabis Stock Index currently sits at 8.32, a 3% increase from the 8.05 seen at the close of markets yesterday.

The low point of the year for the Index came on June 23 with the market dipping to an all-time low of 7.41. Since then the market has seen a 12% increase, rising to 8.32 at close of today’s market.
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