Sep 04 2024

California Legislature Passes Bill Allowing Marijuana Businesses to Hold Multiple Licenses, Sending it to Governor Newsom

Legislation in California to simplify marijuana business operations by allowing multiple activities under a single license, has been approved by the state’s legislature with overwhelming support.

(Photo credit: Getty Images).

California Senate Bill 1064, introduced by Senator John Laird (D) in April, has passed both the full Assembly (73 to 0) and Senate (37 to 1). Yesterday, the measure was presented to Governor Gavin Newsom, giving him 12 days to decide whether to sign it into law, allow it to become law without a signature, or veto it.

SB 1064 introduces a new “combined activities license,” which would allow two or more cannabis-related business activities to operate under a single license at the same premises, with the exception of laboratory testing. Under current law, cannabis operators are required to apply for separate licenses for each activity they wish to conduct, such as retail sale, cultivation, and distribution. This bill seeks to simplify the licensing process by allowing certain activities to be combined, reducing the administrative burden on businesses.
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Sep 04 2024

Idaho Nonprofit Announces Forthcoming Initiative to Decriminalize Marijuana Possession and Cultivation

The nonprofit political group Kind Idaho has announced that they will soon unveil an initiative to decriminalize marijuana, with the goal of putting it to a vote of the people in 2025 or 2026.

“Our 2023-2024 campaign has concluded and we did not meet the requirements to get on the ballot”, said Kind Idaho in a social media post. The group was referring to a medical marijuana initiative they were hoping to place on this year’s ballot, but fell short of the required signatures. “Thank you to everyone that signed, donated, volunteered!”

The group says “We will be restructuring and rebranding soon to be focused on patient advocacy in general and our next ballot initiative will be aimed at cannabis decriminalization. More information to follow.”
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Sep 04 2024

California Reports $263 Million in Cannabis Tax Revenue for Q2 2024

Today, the California Department of Tax and Fee Administration (CDTFA) reported cannabis tax revenue for the second quarter of 2024.

As of mid-August, total cannabis tax revenue from second-quarter returns is $263.1 million, according to a CDTFA press release. This figure includes $154.3 million in cannabis excise tax and $108.8 million from sales tax collected from cannabis businesses. These figures do not include outstanding returns or returns that still are being processed.

Reported revenue for the first quarter of 2024 returns has been revised to $266.4 million. This includes $157.3 million attributed to cannabis excise tax and $109.1 million to sales tax. These revisions are a result of amended and late returns, as well as other tax return adjustments.
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Sep 03 2024

Study Finds CBD May Enhance Cancer Immunotherapy in Triple-Negative Breast Cancer

A study published in the recent issue of the journal  Cancer Immunology Research suggests that cannabidiol (CBD) may enhance the effectiveness of atezolizumab, a drug commonly used in treating triple-negative breast cancer (TNBC).

The study, which was published online ahead of print by the National Library of Medicine, highlights the potential for CBD to be used as an immune modulator, offering a new avenue for improving cancer treatments.

Triple-negative breast cancer is an aggressive form of cancer that often relies on cytotoxic therapies. Current treatments include the combination of atezolizumab, an immune checkpoint inhibitor (ICI), with chemotherapy. However, the effectiveness of this combination is limited for patients with low reactivity to atezolizumab, prompting researchers to explore alternative treatments that could enhance its efficacy.
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Sep 03 2024

North Carolina Marijuana Superstore Opens Saturday for Everyone 21 and Older: Exploring Their Lineup

The Great Smoky Cannabis Company (91 Bingo Loop Road Cherokee) opens their doors to everyone 21 and older in four days, on Saturday, September 7.

Just a few of the dozens of products available at the Great Smoky Cannabis Company.

The marijuana superstore, located at the home of a former bingo hall that cost over $50 million to renovate, opens Saturday on tribal land operated by the Eastern Band of Cherokee Indians. The store is located about three hours from Charlotte and 4.5 hours from Raleigh.

The outlet first opened on April 20, exclusively available to those who were both medical marijuana patients and a member of the tribe. On July 4, the store expanded its services to include recreational sales, but access was still limited to tribal members. Starting September 7, anyone 21 and older can come into the store and purchase a variety of marijuana products.
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Sep 03 2024

Ohio: $66 Million in Marijuana Sold Legally Between August 6 and August 31, Prices Continue to Drop

There was over $60 million worth of marijuana and marijuana products sold legally in the first 25 days after legal recreational marijuana sales began in Ohio.

According to the Ohio Division of Cannabis Control (DCC), there was $67,320,029 worth of legal marijuana sold between August 6, the start of recreational marijuana sales, and August 31.

The majority of these sales —$44,051,671— were purchased for recreational consumption, with licensed medical marijuana patients purchasing $23,268,358 worth during the same period.
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Sep 03 2024

Wisconsin Tribal Leaders Call on State to Legalize Medical Marijuana

Wisconsin is one of just 12 states that have not yet legalized medical marijuana: Tribal leaders in the state are calling for a change.

On Tuesday, tribal leaders urged Wisconsin lawmakers to move forward with the legalization of medical marijuana, advocating for patients suffering from chronic pain and PTSD to have access to cannabis as a treatment alternative.

Rob Pero, founder of Canndigenous, a Native American hemp business based in Cambridge, expressed frustration over the current legal status. “We’re caught in a kind of ‘Prohibition Island’ here, surrounded by states where it’s legal,” he said. “Our people are being forced to choose between breaking the law to obtain their medicine and staying without it in Wisconsin.”
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Sep 03 2024

Report: 394 Million Joints Sold Between June 2023 and June 2024 in the U.S., Generating $4.1 Billion in Revenue

This morning, Custom Cones USA released a white paper in partnership with cannabis data analytics firm Headset, that is a comprehensive report on the state of the pre-roll market in 2024.

The data revealed that pre-rolls generated more than $4.1 billion in sales revenue and sold over 394 million units in from January 2023 to June 2024

To gain comprehensive insights into the current state of the pre-roll market, Custom Cones USA partnered with cannabis industry analytics firm Headset, combining their retail point-of-sale data across 12 U.S. states from January 2023 to June 2024, as well as Custom Cones USA’s B2B insights from more than 300 companies representing every corner of the pre-roll industry, including recreational and medical cannabis producers, hemp producers, plant processors, vertically integrated brands, cannabis brand agencies, dispensaries, and multi-state operators. Notable findings include:
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Sep 03 2024

Swing State Voters Strongly Favor Legalizing Marijuana, Finds Poll

According to new polling, a strong majority of voters in the swing states of Pennsylvania, Michigan and Wisconsin support legalizing recreational marijuana, and more than eight out of every 10 support medical marijuana legalization.

Conducted by Ragnar Research Partners, the poll states that “Voters in swing states overwhelmingly support responsible modernization of US marijuana policy. Over 4 in 5 support legalizing medical (84%) and over 3 in 5 support legalizing for anyone 21 years or older (62%). ”

These numbers “hold true among voters that both Trump and Harris need to win. Right now, over half of persuadable voters support legalizing marijuana for anyone 21 years or older, although they are firm that there should be an age limit (73% support).”
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Sep 03 2024

Colorado’s “First Psychedelic Church” Opens in Colorado Springs, Offering Free Psilocybin Mushrooms and DMT

Colorado’s first psychedelic church has officially opened its doors in Colorado Springs, offering a unique approach to spiritual and community gatherings centered around the use of psychedelics.

Founded by Benji Dezaval, the church seeks to provide a safe space for individuals to explore the therapeutic and spiritual benefits of substances like psilocybin mushrooms and DMT. The church offers “communal gifts” of two grams of dried psilocybin mushrooms, two weeks’ worth of microdoses or a light dose of dimethyltryptamine (DMT). All without a cost.

“Everything is provided for free as an act of wellness,” lead guide Dezaval said before offering the psychedelics he cultivated inside his northeastern Colorado Springs home to the group of faces, some familiar to him, some new.
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