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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Aug 03 2024

Court Rules RAW Rolling Papers Are Not “Drug Paraphernalia”

The United States Court of Appeals for the Ninth Circuit has ruled that RAW rolling papers are not considered “drug paraphernalia” under the Controlled Substances Act.

The ruling upheld a prior ruling in favor of HBI International, in its ongoing dispute with Central Coast Agriculture, Inc. The court denied Central Coast Agriculture’s petition for a full court rehearing, sustaining the original decision by a three-judge panel. This decision marks a significant moment in the trademark conflict over the “RAW” and “Raw Garden” trademarks.

On July 26, 2024, the ruling reaffirmed that BBK’s RAW rolling papers are not considered “drug paraphernalia” under the Controlled Substances Act, a claim previously contested by Central Coast Agriculture. The refusal to rehear the case leaves the lower court’s decision in favor of BBK unchanged.
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Aug 03 2024

US Senate Majority Leader and Other Senators Urge DEA to “Promptly Finalize” Marijuana Rescheduling

A group of prominent senators have sent a letter to the Biden Administration urging them to promptly reschedule marijuana.

Yesterday, U.S. Senate Majority Leader Chuck Schumer (D-NY), Senate Finance Committee Chair Ron Wyden (D-OR), along with Senators Cory Booker (D-NJ), Tina Smith (D-MN), Ben Ray Luján (D-NM), Patty Murray (D-WA), and Kirsten Gillibrand (D-NY) sent a letter to Attorney General Merrick Garland and DEA Administrator Anne Milgram, expressing their strong support for the Drug Enforcement Administration’s (DEA) proposal to transfer marijuana from Schedule I to Schedule III of the Controlled Substances Act (CSA).

“We write to express support for the Drug Enforcement Administration’s proposal to transfer marijuana from schedule I to schedule III of the Controlled Substances Act (“CSA”)”, states the lett. “The proposed rule to reclassify marijuana to schedule III recognizes the medical benefits of marijuana, will improve access for studying the health effects of short and long-term cannabis use, and will provide relief to cannabis businesses that continue to navigate a patchwork regulatory system to conduct legal business”.
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Aug 02 2024

Oregon: July Marijuana Sales Hit $82 Million, Bringing 2024 Total to Above Half a Billion Dollars

Oregon’s legal marijuana industry generated over $80 million in sales in July, bringing the yearly total to well above $500 million.

The $82,186,496 in legal marijuana sold in July marks an increase from June’s $79,854,131. This is according to data compiled and released by the Oregon Liquor and Cannabis Commission. Monthly sales have remained above $75 million consistently since February 2023.

Since the start of legal marijuana sales in October 2016, the total sales have climbed to $6.785 billion, contributing $1.2 billion in tax revenue. So far in 2024, the state has seen sales of around $562 million, generating close to $100 million in taxes.
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Aug 02 2024

Legal Marijuana Sales in New Mexico Exceed $50 Million in July, Generating Over $8 Million in Taxes

There was over $50 million in legal marijuana sold throughout New Mexico in July.

In July, there was a total of $50,097,212.57 worth of marijuana sold through licensed marijuana stores and dispensaries, according to data released by the New Mexico Regulation & Licensing Department. Sales were distributed across 1,206,438 different transactions.

Recreational marijuana sales in July were $38,018,830.10, while medical marijuana sales totaled $12,078,382.44, both higher than the previous month, as well as higher than the previous August (in both months sales were around $48 million).
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Aug 02 2024

Ohio: Legal Recreational Marijuana Sales Begin Tuesday, August 6

The Ohio Division of Cannabis Control has notified marijuana dispensaries that they will be able to start recreational marijuana sales on Tuesday, August 6.

“Right this second, the state is in process of authorizing some dispensaries to begin adult use sales on Aug. 6, which is several months ahead of schedule from where we thought the program would be at this time last year,” says Tom Haren, a spokesman for the Ohio Cannabis Coalition. “So we’re incredibly grateful to the hard work of the staff at the Division (of Cannabis Control) for moving this along quickly and being able to roll out quickly an adult-use schedule — while at the same time ensuring that they’re addressing consumer safety, so that we can provide Ohioans with a true alternative to the illicit market, and an opportunity to buy legal regulated, tested and taxed products.”

The beginning of recreational marijuana sales comes roughly eight months after voters in the state approved Issue 2 to legalize marijuana for those 21 and older.
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Aug 01 2024

Clinical Trial: Marijuana-Infused Tea Associated With Decreased Pain and Improved Quality of Life in Fibromyalgia Patients

The daily consumption of marijuana-infused tea is associated with a reduction in pain and improvements in overall quality of life for those with fibromyalgia, according to a new study.

The study was published in the recent issue of the Journal of Clinical Medicine, as well as being published online by the US National Library of Medicine. The study is titled Is a Low Dosage of Medical Cannabis Effective for Treating Pain Related to Fibromyalgia? A Pilot Study and Systematic Review.

“Fibromyalgia is a multifaceted and frequently misunderstood chronic pain disease marked by widespread musculoskeletal pain and cognitive/somatic dysfunction”, notes the study’s abstract. “This trial aims to contribute to the existing knowledge on treating fibromyalgia (FM) with medical cannabis (Cannabis sativa L.) and explore a safer and more effective cannabis administration method.”
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