Aug 10 2024

Colorado Marijuana Tax Revenue Reaches $150 Million in 2024, All-Time Taxes Surpass $2.76 Billion

Colorado’s tax revenue from legal marijuana sales has exceeded $150 million in the first seven months of the year.

According to the Colorado Department of Revenue, the state has collected $150,904,366 in tax revenue from legal marijuana sales so far in 2024. This brings the cumulative total to $2,769,062,068.

The $150 million in taxes was generated from approximately $770 million in marijuana sales, including $100 million in July alone. All-time sales have now exceeded $16 billion.
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Aug 10 2024

Federal Legislation to Protect Marijuana Users in Public Housing Gains Five Bicameral Sponsors

Federal legislation that would allow those in public housing to use state-legal marijuana without fear of eviction has five sponsors in the in the US House of Representatives and Senate.

The Marijuana in Federally Assisted Housing Parity Act was earlier this year in the US House of Representatives by Congressmember Eleanor Holmes Norton (D-DC), with a companion bill filed in the Senate by Senator Cory Booker (D-NJ). Since being filed, Congressmember Zoe Lofgren (D-CA), Barbara Lee (D-CA) and Earl Blumenauer (D-OR) have joined as sponsors.

The proposed law would allow the use of marijuana in federally assisted housing, including public housing and Section 8 housing, if the consumer is in compliance with state marijuana laws. This would include medical marijuana in medical marijuana states, as well as recreational marijuana consumers in the 24 states where it’s legal.
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Aug 10 2024

Marijuana Descheduling Bill Reaches 95 Sponsors in US House

Federal legislation to deschedule marijuana and allow the expungement of past convictions has gained its 95th sponsor in the US House of Representatives.

Congressmember Jason Crow (D-CO) joined as an official cosponsor of the MORE (Marijuana Opportunity Reinvestment and Expungement) Act yesterday, bringing the bill’s total sponsors to 95.

The MORE Act, supported by Vice President Kamala Harris, would remove marijuana from the federal Controlled Substances Act, effectively decriminalizing it nationwide. The bill also establishes a federal excise tax on state-legal marijuana sales, starting at 5% and eventually increasing to a maximum of 8%. Additionally, it includes measures to expunge past marijuana convictions and protect users from being denied public benefits.
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Aug 09 2024

Oregon Marijuana Union Initiative Officially Placed on November Ballot

The United for Cannabis Workers Act, put forth by United Food and Commercial Workers (UFCW) Local 555, has officially been placed on the November 5 ballot.

Measure 119 “would ensure that cannabis workers’ freedoms to organize and bargain collectively are protected under state law”, according to a press release from UFCW. No one would be required to join a union, but workers would have the freedom to do so if they choose.

“Workers across every industry should have the freedom to unionize if they so choose”, says Dan Clay, President, UFCW Local 555. “This ballot measure closes an age-old loophole that deprives that right to thousands of Oregon cannabis workers. Shady cannabis tycoons have taken advantage of an outdated law to strip workers’ rights that are guaranteed to nearly every other American. By passing Measure 119, voters will enshrine the freedom to unionize in the Oregon Cannabis industry.”
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Aug 09 2024

North Carolina Tribe to Open Marijuana Superstore To Everyone 21 and Older in Less than a Month

The Eastern Band of Cherokee Indians (EBCI) is set to open its marijuana megastore to everyone 21 and older in less than a month on September 7.

The Great Smoky Cannabis Company will soon welcome everyone 21 and older, regardless of whether or not they’re a patient or tribal member. Located near Harrah’s Cherokee Casino Resort, the store is approximately three hours from Charlotte and 4.5 hours from Raleigh, housed in a former bingo hall that underwent a $50 million renovation.

In June, the EBCI Tribal Council voted to legalize recreational marijuana, following a September ordinance approved by tribal members. This ordinance requested the development of legislation to legalize and regulate recreational marijuana on tribal land.
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Aug 09 2024

Washington State Sells Over $100 Million Worth of Legal Marijuana in July, Bringing in Over $37 Million in Taxes

There was over $100 million worth of legal marijuana sold throughout Washington State in July.

(Photo credit: Vista).

According to data compiled and released by the Washington State Liquor and Cannabis Commission, there was approximately $103 million in legal marijuana sales in July. This is a slight increase from the $100.2 million sold in the previous month, but a slight decrease from the $106 million sold last July. June 2022 retains the monthly high of $109 million.

The yearly total for marijuana sales is now above $700 million, resulting in over $200 million worth of tax revenue. In 2023 there was $1.25 billion in marijuana sales resulting in over $400 million in taxes.
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Aug 09 2024

Study: “Psilocybin Appears as a Valuable Treatment for OCD”

A recent study published in Pharmacological Reports by researchers at the Medical University of Warsaw suggests that psilocybin may offer significant benefits in treating obsessive-compulsive disorder (OCD).

Dried psilocybin mushrooms.

OCD is a chronic mental health condition that affects approximately 2% of the population, characterized by persistent and intrusive thoughts (obsessions) and repetitive behaviors (compulsions) that can severely disrupt daily life.

Current pharmacological treatments for OCD primarily target serotonin, dopamine, and glutamate neurotransmission systems. Selective serotonin reuptake inhibitors (SSRIs) are commonly prescribed, yet up to 40% of patients do not respond adequately to these treatments. This has created a critical need for new therapeutic options.
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Aug 08 2024

UC San Diego Seeking Participants for Five Marijuana Clinical Trials

The University of California, San Diego (UCSD) is currently seeking participants for five clinical trials focused on marijuana and its potential therapeutic benefits.

These studies are part of the university’s ongoing efforts to explore the medical applications of marijuana, which is becoming increasingly relevant as more states legalize its use for both recreational and medicinal purposes, and as marijuana is rescheduled at the federal level.

The first trial investigates the neural mechanisms behind marijuana-induced pain relief. Pain is often referred to as a “silent epidemic,” affecting over 100 million Americans and costing society more than $500 billion annually. This study aims to identify how vaporized marijuana alleviates acute pain by mapping the brain’s response, potentially leading to more effective and targeted pain therapies.
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Aug 08 2024

Trump Says He “Agrees a Lot More” with Marijuana Legalization as More States Legalize

Former President Donald Trump, the current Republican nominee for president, is beginning to “agree a lot more” that marijuana should be legalized.

Donald Trump speaking at a press conference at Mar-a-Lago.

“As we legalize it, I start to agree a lot more because, you know, it’s being legalized all over the country,” said Trump at a press conference held today. “Florida has something coming up. I’ll be making a statement about that fairly soon.”

Trump’s comments were made in response to a reporter questioning him on the Biden Administration’s move to reschedule marijuana, and Vice President Harris’ stance that no one should be jailed for marijuana.
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Aug 08 2024

Study of Nearly 10 Million People Finds Marijuana Linked to Improved Outcomes for Heart Attack Patients, Reduced In-Hospital Mortality

According to a study published in the Archives of Medical Sciences: Atherosclerotic Disease, heart attack patients with a history of marijuana use have a lower in-hospital mortality rate compared to those without a history of use.

For the study, researchers from various institutions, including the Detroit Medical Center-Wayne State University and the Royal Devon University Healthcare NHS Foundation Trust, conducted a comprehensive analysis of 20 years of hospital data, including data from 9,930,007 acute myocardial infarction (AMI) patients recorded in the National Inpatient Sample (NIS) from 2001 to 2020. Of these, 117,641 patients (1.2%) reported using cannabis. The researchers applied a series of statistical tests and multivariate regression models to compare the outcomes of cannabis users with those who did not use the substance.

“Cannabis users had lower odds of atrial fibrillation, ventricular fibrillation, cardiogenic shock, acute ischaemic stroke, cardiac arrest” and they had a 36% lower risk of all-cause mortality during their hospital stay, state the study’s researchers.
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