May 16 2024

BREAKING: Department of Justice to Officially Publish Marijuana Rescheduling Plans Today

The Department of Justice (DOJ) plans to publish a notice today that details its proposal to reclassify marijuana to Schedule III, according to multiple officials with the Biden Administration.

The notice being posted comes a little over two weeks after the Department of Justice confirmed that marijuana is being moved to Schedule III. Today’s notice from the DOJ indicates that the move has been approved by the White House Office of Management and Budget. Once the notice is posted, a legally required 60-day public comment period will begin soon after.

Under current law, marijuana is classified as a Schedule I drug, rendering it illegal for all purposes. By reclassifying marijuana to Schedule III, it will effectively be legalized nationwide for prescription use. This change will also provide numerous federal protections to state-legal medical marijuana patients and businesses, which are currently unavailable under the existing classification.
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May 16 2024

US Lawmakers From Over 40 States Now Sponsoring Federal Marijuana Banking Legislation

Federal legislation to allow marijuana banking is now sponsored by lawmakers from 41 different states, demonstrating its widespread and bipartisan support.

In the House of Representatives, the SAFE Banking Act has 118 sponsors, more than any marijuana-related bill in US congressional history. In the Senate, the similar SAFER Banking Act has 36 sponsors. Combined, these measures have sponsors from 41 states, 82% of the entire country.

Both measures would allow accredited banks and credit unions to provide a suite of banking services, including debit card processing and loans, to marijuana businesses that are following their state’s laws. Despite state licensing, these businesses are currently unable to access banking services due to federal restrictions, compelling many to operate solely with cash and heightening their risk of theft.
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May 15 2024

Study Says CBD is a “Promising Tool for Refractory Epilepsy in Pediatric Patients”

The cannabis-compound cannabidiol (CBD) is a promising option for treating refractory epilepsy in pediatric patients, according to a new study.

The study, titled “Use of Cannabidiol in the Treatment of Drug-Refractory Epilepsy in Children and Young Adults: A Systematic Review”, was conducted by researchers at the Rafael Nuñez University Corporation in Colombia and published in the Journal of Neurosciences in Rural Practice. It was also epublished by the National Library of Medicine.

According to the study “Epilepsy poses a significant challenge in pediatric and adolescent populations, impacting not only seizures but also psychological and cognitive comorbidities, leading to higher mortality rates than the general population”. It notes that “Drug-refractory epilepsy, resistant to conventional treatments, affects a range of 7-20% of pediatric patients. The search for alternative therapies has led to exploring the therapeutic potential of Cannabis sativa L. compounds, particularly cannabidiol (CBD).”
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May 15 2024

Massachusetts Conducting Nationwide Search for Cannabis Executive Director, Position Pays $187,000 Annually

The Massachusetts Cannabis Control Commission (CCC) is on the lookout for a new Executive Director to steer the state’s thriving $7 billion marijuana industry.

According to the CCC, the ideal candidate should be a “tough, strategic thinker” capable of managing the day-to-day operations of the agency.

The Executive Director will be tasked with enforcing Massachusetts’ marijuana laws and regulations, reporting to the five Commissioners appointed by the governor, state Treasurer, and Attorney General. Commissioner Bruce Stebbins highlighted the job’s salary of about $187,000 per year, describing it as an “exciting opportunity” for someone ready to tackle the challenges of overseeing a state agency that regulates a federally illegal substance.
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May 15 2024

New Hampshire’s Full Senate to Vote on House-Backed Marijuana Legalization Bill

The New Hampshire Senate is scheduled to vote tomorrow, May 16, on legislation that would legalize recreational marijuana.

House Bill 1633 was given approval last week by the Senate Judiciary Committee, marking the first time a Senate committee in New Hampshire has ever given approval to a marijuana legalization bill. The measure has already been passed by the full House of Representatives by a vote of 239 to 136.

Now, the full Senate has placed the proposal on its agenda, with a vote expected tomorrow.
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May 15 2024

Maryland Marijuana Sales Top $90 Million in April

There was over $90 million in legal marijuana sold in Maryland for the second straight month.

Although April saw a slight decrease in marijuana sales compared to March, they were still substantial at $92,291,643. Of this total, approximately $63 million came from recreational marijuana sales. Year to date, Maryland’s legal marijuana market has generated $365.3 million in sales.

In terms of product breakdown, dried flower remained the most popular category, accounting for $54 million in sales. This was followed by marijuana concentrates at $24 million and infused edibles at $11 million.
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May 15 2024

The 5 Most Impactful Pro-Marijuana Moves Made By President Biden

Throughout his Senate career, President Joe Biden often took a staunch anti-marijuana and anti-drug stance. However, since taking office, President Biden has become one of the most pro-marijuana presidents in U.S. history, and certainly the most impactful.

During his 2020 presidential campaign, Biden announced that he supported decriminalizing marijuana and allowing states to decide their own marijuana policies. Many in the marijuana community were buoyed by these comments but were hesitant, thinking it might be mere political posturing.

Three and a half years later, although a notable portion of the pro-marijuana community wishes President Biden had done more — including announcing his support for full legalization — it’s hard to argue that President Biden, at the very least, has more marijuana-related accomplishments under his belt than any previous POTUS.
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May 15 2024

GOP Congresswoman Praises Decision to Reschedule Marijuana, Department of Health Secretary Warns Decision “Has Not Been Finalized”

At a congressional hearing today a GOP lawmaker praised the DEA’s decision to reschedule marijuana, with the head of the Department of Health and Human Services (HHS) warning that rescheduling has not yet been finalized.

At today’s hearing of the House Education and the Workforce Committee, Congressmember Lori Chavez-DeRemer (R-OR) told HHS Secretary Xavier Becerra that it is “really good welcoming news” that the Biden Administration is moving to reschedule marijuana to Schedule III.

“We’re more than willing to work with you on these issues,” said Becerra, who followed this up by saying “Remember, the cannabis action has not yet been finalized. But we’re more than willing to work with you. We work based off of evidence, and so whatever we do has to be evidence-based.”
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May 14 2024

Arkansas Medical Marijuana Sales Exceed $1 Billion, Patient Count Surpasses 100,000

Since the start of legal medical marijuana distribution in Arkansas in 2019, sales have surpassed $1 billion.

According to the Arkansas Department of Finance and Administration (DFA), Arkansas medical marijuana patients have purchased over $1.10 billion worth of products since sales began in May 2019. The DFA reports that 203,000 pounds of medical marijuana have been sold.

In 2019, the first year of legal medical marijuana, sales were just $31 million. This rose to $181.8 million the following year and then to $264 million in 2021. Sales reached $276 million in 2022 and increased to $283 million in 2023. Continue reading

May 14 2024

Michigan’s April Marijuana Sales Top $275 Million, Total Sales Surpass $8 Billion as Prices Hit All-Time Low

Legal marijuana sales in Michigan passed $275 million in April, despite prices dropping to an all-time low.

According to data compiled and released by the Michigan Cannabis Regulatory Agency, there was a total of $278,546,443 worth of marijuana and marijuana products sold legally in April. Just $1,861,261.02 was purchased by medical marijuana patients, with the remaining $276,685,182.93 purchased by recreational consumers. Sales for April fell around $10 million short of the record-breaking total of $288 million sold last month.

Total recreational marijuana sales since the start of legal sales in December, 2019 now stands at $8,000,677,441, resulting in over $1.4 billion in tax revenue. This is in addition to the $1.6 billion in medical marijuana sold during the same period.
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