Aug 06 2024

Rhode Island: More Recreational Marijuana Sold in July than Any Previous Month

July broke the monthly record for recreational marijuana sales in Rhode Island.

According to the Rhode Island Department of Business Regulations, there was $8.04 million worth of recreational marijuana sold in July, in addition to $2.04 million in medical marijuana sales. Although the combined $10.08 falls narrowly short of the record-setting $10.20 million sold in December, the $8.04 million in recreational marijuana sold is a new monthly record for the state.

This brings the total sales for 2024 to $68,597,681, with an average transaction amount of $37.02. Last year, the total sales amounted to $107,816,615, contributing approximately $15 million in tax revenue.
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Aug 06 2024

US Senate Committee Approves Bill to Continue Blocking Washington D.C. Marijuana Sales

A key Senate committee has passed legislation that would continue to prohibit Washington D.C. from allowing recreational marijuana sales.

The Senate Appropriations Committee recently voted to approve the 2025 Financial Services and General Government (FSGG) Appropriations Act. The measure, which was advanced by a unanimous vote of 27 to 0, includes a provision that prevents D.C. from implementing a 2014 law that legalized recreational marijuana within the district, including licensed retail outlets. Although the portion of the law allowing marijuana to be possessed is currently in effect, the US Congress has prevented the opening of marijuana stores for a decade.

The provision states:
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Aug 05 2024

Bipartisan Coalition of 80 US Lawmakers Send Letters to FDA and President Biden Urging Approval of MDMA-Assisted Therapy

A bipartisan coalition of 19 U.S. Senators and 61 Members of the House of Representatives have sent letters to the Food and Drug Administration (FDA) and President Biden, urging swift and scientifically-based approval of MDMA-Assisted Therapy (MDMA-AT) for treating post-traumatic stress disorder (PTSD).

MDMA, often referred to as “ecstasy”.

Led by Sens. Michael Bennet (D-Colo.), Thom Tillis (R-N.C.), Kyrsten Sinema (I-Ariz.), and Rand Paul (R-Ky.), alongside Reps. Jack Bergman (R-Mich.), Lou Correa (D-Calif.), Morgan Luttrell (R-Texas), and Jimmy Panetta (D-Calif.), the letters highlight the urgent need for new PTSD treatments, especially for veterans. This initiative is backed by 15 additional senators and 57 more members of the House, reflecting widespread bipartisan support.

“MDMA-AT has shown incredible promise, with 71% of phase-three trial participants no longer meeting a PTSD diagnosis after three eight-hour sessions of MDMA-AT”, states a press release from Rep. Bergman. “Moreover, 86.5% of participants experienced “clinically significant” improvements in their PTSD symptoms. These results are more than double that of the current best treatment for PTSD.”
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Aug 05 2024

New Hampshire Governor Approves Medical Marijuana for All Conditions

Legislation allowing medical marijuana for any condition a physician deems necessary has been signed into law by New Hampshire Governor Chris Sununu.

House Bill 1278, filed by State Representative Wendy Thomas, successfully passed both the House and Senate last month. Governor Sununu has now signed it into law, officially removing the state’s list of qualifying medical marijuana conditions. The new law permits medical marijuana for “any debilitating or terminal medical condition or symptom for which the potential benefits of using therapeutic cannabis would, in the provider’s clinical opinion, likely outweigh the potential health risks for the patient.”

The measure stipulates that certifying providers must include the patient’s specific condition or symptom on the written certification and attest to their clinical opinion.
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Aug 05 2024

These 5 States Will Vote on Marijuana Initiatives in Just 3 Months

With the November 5 election just three months away, voters in five states—North Dakota, South Dakota, Florida, Arkansas, and Nebraska—are gearing up to consider various marijuana initiatives.

It’s shaping up to be a big election for marijuana law reform, with five states set to consider statewide measures to legalize recreational or medical marijuana. With that in mind, here’s a look at the five states with marijuana initiatives set to be considered this November, and where they stand in the polls.
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Aug 05 2024

Missouri’s July Recreational Marijuana Sales Hit $123 Million, Cumulative Sales Pass $2.6 Billion

In July, Missouri recorded $123 million in recreational marijuana sales, nearly identical to the sales in July 2023.

This brings the state’s total marijuana sales for the year to approximately $824 million, putting the state on track to pass $1 billion in sales in September. Overall, cumulative sales since February 2023 have now reached $2.66 billion, resulting in over $250 million in tax revenue.

In 2023, Missouri generated $1.3 billion in legal marijuana sales, contributing over $130 million in tax revenue to the state.
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Aug 05 2024

US House: Federal Marijuana Banking Bill Gains 129th Sponsor

The SAFE Banking Act in the US House of Representatives now has 129 sponsors.

Yesterday, Congressmember Dwight Evans (D-PA) joined as a cosponsor  to the SAFE Banking Act (H.R. 2891). This brings the total number of sponsors for the bill to 129, more than any other marijuana related measure in the US Congress.

The SAFE Banking Act aims to offer clear federal protections for banks and credit unions that provide financial services to state-legal marijuana businesses. This includes medical marijuana dispensaries in the 38 states where they are legal and recreational marijuana stores in the 23 states where they are authorized.
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Aug 05 2024

Ohio: Here Are the 98 Dispensaries Selling Recreational Marijuana Starting Tomorrow, August 6

The Ohio Department of Commerce Division of Cannabis Control (DCC) has announced that they will issue its first set of dual-use Certificates of Operation (COO) to 98 eligible dispensaries across the state tomorrow, August 6, allowing them to sell recreational marijuana.

This comes more than a month in advance of the September 7 deadline as outlined in the initiated statute passed by Ohio voters in November 2023.

“Once an entity has received its COO, it is legally authorized to begin the sale of non-medical cannabis in addition to medical cannabis”, states a press release sent today by the COO.
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Aug 04 2024

$350 Million in Marijuana Sold Legally in July in California, $2.4 Billion Year-to-Date

In July, there was around $350 million worth of legal marijuana sales in California.

According to state data, there was $344 million in recreational marijuana sold in July, along with approximately $6 million worth of medical marijuana. This marks a slight increase from the $339 million sold in June and aligns with the $350 million sold in May. Despite sales remaining steady, July’s marijuana sales were about 7% lower than those in July 2023.

The average price per gram of dried marijuana flower increased slightly to $10 from $9.50. The average price of marijuana concentrates remained steady at $17.
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Aug 03 2024

Michigan: Over $285 Million in Legal Marijuana Sold in July, All-Time Tax Revenue Passes $1.5 Billion

Michigan experienced a significant increase in marijuana sales in July, reaching over $285 million.

There was $286 million in marijuana sold legally in July, according to data compiled and released by the Michigan Cannabis Regulatory Agency. This marks a significant increase from the $275 million sold last month, as well as the $276 million sold in July 2023.

Since the legalization of recreational marijuana in December 2019, total sales have now reached nearly $9 billion. Medical marijuana sales have added another $1.7 billion, making the combined total well above $10 billion. These sales have resulted in over $1.5 billion in tax revenue.
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