Feb 06 2025

Report: Cannabis Cultivation Market Valued at $208 Billion in 2025, to Reach $407 Billion by 2029

The global cannabis cultivation market is projected to experience significant growth in the coming years, according to a new report.

(Photo credit: John J. Kim / Chicago Tribune).

The market, valued at $179.32 billion in 2024, is expected to grow to $208.64 billion in 2025 and reach $407.91 billion by 2029, with a compound annual growth rate (CAGR) of 18.2%.

The report, conducted by Research and Markets, attributes the market’s expansion to increasing legalization, greater public acceptance, and rising medical applications of cannabis. The adoption of cannabis for chronic disease treatment, including conditions such as multiple sclerosis and epilepsy syndromes, is also noted as a major factor fueling growth.
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Feb 06 2025

Montana Senate Gives Approval to Resolution Calling on Federal Government to Enact the SAFER Banking Act

Montana’s full Senate has given overwhelming approval to a resolution urging the federal government to enact the SAFER Banking Act into law.

The Senate approved Senate Joint Resolution 5 today through its second reading by a vote of 41 to 9. A third and final reading is expected to occur soon.

The resolution urges the federal government to enact the SAFER Banking Act, a proposal to allow banks and other financial institutions such as credit unions to provide financial services to state-legal marijuana businesses, enabling these businesses to move away from a dangerous cash-only model that leaves them susceptible to robberies. The SAFER Banking Act would also allow marijuana businesses to claim standard IRS tax deductions.
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Feb 06 2025

New York Office of Cannabis Management Launches Cannabis Banking Directory.

The New York Office of Cannabis Management (OCM) has introduced a new “Cannabis Banking Directory”.

The directory is now accessible at the bottom of the Social Economic and Equity page on the OCM’s website. Launched yesterday, the directory is intended to help licensed marijuana businesses find reliable banking services as the state’s legal market expands.

“This directory, launched by our SEE Team, aims to streamline the connection between licensed cannabis businesses and supportive financial institutions,” says OCM. “This initiative is part of the office’s strategic efforts to reduce regulatory barriers and improve financial stability for cannabis businesses.”
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Feb 06 2025

Tennessee Republicans File Bicameral Legislation to Ban THCa and THCp in Hemp-Derived Products

Tennessee legislators have introduced bicameral legislation that would criminalize producing, selling, and possessing hemp-derived products containing tetrahydrocannabinolic acid (THCa) and tetrahydrocannabiphorol (THCp).

House Bill 1148, sponsored by State Representative Ed Butler (R) and six Republican cosponsors, was filed alongside its companion measure, Senate Bill 1236, introduced by Senator Ferrell Haile (R).

The legislation removes THCa and THCp from the list of authorized hemp-derived cannabinoids under Tennessee law. It also creates a Class A misdemeanor for individuals who knowingly manufacture, sell, or distribute products containing substances not on the state’s approved list of hemp-derived cannabinoids. Additionally, consumers who knowingly purchase, possess, or accept such products would face the same misdemeanor charge.
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Feb 06 2025

Illinois Lawmaker Files Bill to Launch Psilocybin Equity Pilot Program

Illinois State Representative Theresa Mah (D) introduced House Bill 2992 today, known as the Healing Opportunities through Psilocybin Equity Pilot Program Act.

The legislation would create a regulatory framework for the production, distribution, and supervised use of psilocybin, the psychoactive compound found in psychedelic mushrooms.

The bill outlines the formation of the Illinois Psilocybin Advisory Board within the Department of Financial and Professional Regulation. The board would be responsible for guiding the development of regulations and overseeing the program’s implementation. Multiple state agencies—including the Department of Public Health, the Department of Agriculture, the Illinois State Police, and the Department of Revenue—would play roles in regulating different aspects of the psilocybin industry.
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Feb 06 2025

Study: CBD May Help Kill Ovarian Cancer Cells by Disrupting Their Fat Metabolism

A study published in Scientific Reports found that cannabidiol (CBD) disrupts lipid metabolism and induces apoptosis in ovarian cancer cells through cannabinoid receptor type 1 (CB1R)-mediated endoplasmic reticulum (ER) stress.

Researchers examined how CBD affects lipid metabolic pathways in ovarian cancer cells, given the role of metabolic reprogramming in tumor survival. The study found that CBD significantly inhibited ovarian cancer cell proliferation, reduced fatty acid levels, and suppressed the expression of genes involved in fatty acid uptake and synthesis.

Further analysis using RNA sequencing and real-time RT-PCR revealed that CBD activated ER stress pathways, leading to apoptosis. When researchers supplemented cells with unsaturated fatty acids or blocked CB1R, ER stress, or reactive oxygen species (ROS) signals, they observed a significant reduction in CBD-induced apoptosis, G0-G1 phase cell cycle arrest, and mitochondrial dysfunction.
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Feb 06 2025

Missouri Has Transfered Nearly $50 Million in Medical Cannabis Funds to Support Veterans

This week, the Missouri Department of Health and Senior Services (DHSS) transferred $3.25 million in funds from Missouri’s medical marijuana program to the Missouri Veterans Commission (MVC).

(Photo credit: GETTY Images).

This transfer brings the total transferred to the MVC from the medical marijuana program since its inception is $49,728,820.

Missourians voted in November 2018 to adopt Constitutional Amendment 2, which is now known as Article XIV. The amendment includes a provision requiring that fees and taxes generated by the medical marijuana program, minus operational expenses, be transferred to the MVC for health and care services for military veterans. Article XIV states that medical marijuana sold in licensed dispensaries will be taxed at a rate of 4%. Since dispensary sales began in October 2020, more than $1 billion in medical sales have occurred.
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Feb 05 2025

Washington State Bill to Legalize Personal Marijuana Cultivation Scheduled for Committee Vote

Legislation to legalize personal marijuana cultivation in Washington State has been scheduled for a vote in its committee of origin on February 11.

House Bill 1449, filed by a group of 16 state representatives, has been scheduled for an executive session vote on February 11 at 1:30pm in the House Consumer Protection & Business Committee. Typically the committee will not schedule a vote unless there’s enough support to approve it.

Under the proposed law, those 21 and older would be allowed grow up to six cannabis plants at a private residence, with a maximum of 15 plants allowed per household. Although the current possession limit for cannabis in Washington is one ounce, HB 1449 would allow those who grow marijuana to possess whatever is harvested from those plants.
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Feb 05 2025

Tennessee: “Pot for Potholes” Act to Legalize Marijuana Filed in Senate, Two Days After Being Filed in House of Representatives

Senator Heidi Campbell (D) filed the “Pot for Potholes Act” in the Tennessee Senate today.

Senate Bill 921 was “filed for introduction today”, two days after State Representative Aftyn Behn (D) introduced House Bill 703, a companion measure.

The “Pot for Potholes Act” would legalize recreational marijuana, including establishing a regulatory framework for the cultivation, processing, and retail sale of marijuana and marijuana products in Tennessee, with oversight by the state’s Department of Agriculture.
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Feb 05 2025

Washington Committee Holds Public Hearing on Psilocybin Bill

Today, Washington’s House Health Care & Wellness Committee held a public hearing on House Bill 1433, a measure to legalize medical psilocybin in a highly regulated manner.

Dried psilocybin mushrooms (photo credit: Shutterstock).

Filed by State Representative Nicole Macri (D) with 29 sponsors, HB 1433 would allow those with a physician recommendation to use psilocybin. The bill would create a structured framework allowing licensed facilitators to administer psilocybin in supervised settings. The Washington State Department of Health and Liquor and Cannabis Board would oversee the program, with input from a newly formed Psychedelic Substances Board responsible for developing licensing requirements and safety protocols.

Senate Bill 5201, a companion bill to HB 1433, is scheduled for a public hearing at 8am February 6 in the Senate Health & Long-Term Care Committee.
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