Jun 27 2024

Illinois: Legal Marijuana Sales Reach $170 Million in May, Over $800 Million for the Year

In Illinois, there was approximately $170 million in legal marijuana and marijuana products sold in May.

According to the Illinois Department of Financial and Professional Regulation, $146.2 million worth of recreational marijuana and $24.4 million worth of medical marijuana were sold in May. This totals $170.6 million, a slight increase from the $169.6 million sold last month, and approximately $10 million more than in May 2023.

Sales numbers for May includes the licensed distribution of dried marijuana flower as well as a variety of other products such as concentrates, edibles, and topicals. Of the $146 million in recreational marijuana sold in May, $33 million was purchased by those who reside outside of Illinois. Continue reading

Jun 27 2024

Clinical Trial Finds Oral CBD is Safe and Effective at Treating Anxiety

According to a newly published study, the administration of oral CBD is safe and effective for patients suffering from mild to moderate anxiety disorders.

CBD tincture.

The study is published in the July 2024 issue of the Asian Journal of Psychiatry, as well as being published online by the US National Library of Medicine. The study is titled Evaluation of the efficacy, safety, and pharmacokinetics of nanodispersible cannabidiol oral solution (150 mg/mL) versus placebo in mild to moderate anxiety subjects: A double blind multicenter randomized clinical trial.

“Anxiety disorders, an increasingly prevalent global mental health illness, affected approximately 301 million individuals worldwide in 2019”, states the study’s abstract. “There is an unmet need for the treatment of anxiety disorders, as current therapies are associated with limited response rates, residual symptoms, and adverse effects.”
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Jun 27 2024

Maryland Governor Announces Launch Of Marijuana Workforce Development Program

Maryland Governor Wes Moore announced today the launch of the Cannabis Workforce Development Program, the first workforce development initiative developed and administered by a cannabis regulatory agency in the nation.

Maryland Governor Wes Moore (Photo credit: Mandel Ngan/AFP via Getty Images).

“This groundbreaking collaboration will support Marylanders interested in joining the state’s growing cannabis industry and prioritize individuals and communities directly impacted by the War on Drugs,” said Governor Moore. “For decades, cannabis policy has been used as a cudgel. Together, we prove how cannabis policy can be used as a valuable tool to leave no one behind.”

The new program will prioritize individuals with a history of cannabis-related offenses, and it will be offered free of charge to eligible applicants. The program is a joint partnership between the Maryland Cannabis Administration and the Maryland Department of Labor’s Employment Advancement Right Now (EARN) Program. The program will help reduce barriers to employment and create paths to sustainable jobs in the cannabis industry. Applications will be accepted on a rolling basis starting July 1.
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Jun 27 2024

California: Over $350 Million in Legal Marijuana Sold in May, $1.7 Billion Year-to-Date

Legal marijuana sales in California surpassed $350 million in May, bringing the year’s total to over $1.7 billion.

Licensed marijuana stores in California sold $355 million worth of marijuana and related products in May. Although this represents a modest 0.5% decrease from the previous month, it marks a 4% increase compared to the previous May.

The average price per gram of dried marijuana flower in California in May was $9.56, with the average price of an eighth being $24. Concentrates averaged $17 per gram.
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Jun 27 2024

Biden-Harris Campaign Launches Webpage Titled “Joe Biden Is Reforming America’s Approach To Marijuana”

In an effort to contrast the Biden-Harris Administration’s approach with that of former President Trump, their campaign has launched a new webpage on JoeBiden.com titled “Joe Biden Is Reforming America’s Approach to Marijuana.”

The webpage begins with the statement “Joe Biden has been clear for a long time that our nation’s marijuana laws are outdated and are failing communities, particularly communities of color. Far too many Americans – especially Black and Brown Americans – have seen their lives upended because of a failed approach to marijuana.”

The page continues, “When he ran in 2020, Biden promised to fight to ensure that no one is in jail for marijuana possession alone. And since taking office, Joe Biden and Kamala Harris have led the most significant federal reform to our nation’s approach to marijuana in history.”
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Jun 27 2024

Delaware Senate Committee Approves House-Backed Bill to Allow Recreational Marijuana Sales to Begin in December

A key committee in the Delaware Senate has given approval to legislation that would allow medical marijuana dispensaries to begin selling recreational marijuana this year, months ahead of schedule.

Yesterday, the Senate Judiciary Committee voted to pass House Bill 408. The vote comes a week after the measure was passed by the full House of Representstives, 29 to 11. Sponsored by State Representative Ed Osienski with a companion bill from Senator Trey Paradee, the measure would establish a temporary conversion license for medical marijuana dispensaries, enabling them to sell recreational marijuana while maintaining their medical operations.

“As we approach the launch of recreational marijuana sales in Delaware, it’s vital to implement policies that support both new and existing retailers”, says Rep. Osienski stated. “Our experienced centers can smoothly handle this transition, using the fees from conversion licenses to support social equity applicants.”
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Jun 26 2024

These 5 States Have the Cheapest Legal Recreational Marijuana Prices

Recreational marijuana is legal in 24 states, with all but Virginia allowing licensed sales. Prices in these states vary substantially.

Among these states, the average price of marijuana and marijuana products varies significantly, with some states having averages more than double those of others.

Using data compiled by state regulatory agencies, here are the five legal marijuana states with the cheapest average cannabis prices:

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Jun 26 2024

Washington State Marijuana Sales Top $100 Million in May, Resulting in $37 Million in Taxes

Washington State’s legal marijuana market saw over $100 million in sales in May.

According to data released by the state, there was approximately $101.84 million in legal marijuana sales in May, a 1.3% increase from the previous month and a 1.8% increase over May 2023. This brings the yearly total to around $500 million.

Total sales for May fell around $8 million short of the record-breaking $109.6 million sold in June 2022.
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Jun 26 2024

Arizona: Nearly $100 Million in Legal Marijuana Sold in May, $24 Million in Taxes Garnered

Licensed marijuana stores in Arizona sold nearly $100 million worth of product in May.

According to the Arizona Department of Revenue, the state made $24,482,049 in tax revenue from $97 million in marijuana sales. This is roughly the same as the $24,586,563 in taxes garnered in April, but noticeably less than the $28,423,424 sold in May 2023, which remains the single-month record.

Recreational consumers accounted for 78% of the total marijuana sales in May ($76.4 million), while medical marijuana sales made up the remainder ($20.6 million). Continue reading

Jun 26 2024

Lawmaker Pushes Federal “Stop Pot Act”

A  US congressmember behind federal legislation aiming to penalize states and tribes that legalize marijuana continues to seek support for the measure.

The Stop Pot Act, introduced in September by Representative Chuck Edwards (R-NC), is cosponsored by Representatives David Rouzer (R-NC), Gregory Murphy (R-NC), Pete Sessions (R-TX), and John W. Rose (R-TN). The measure would withhold federal funding from states and tribes that have legalized recreational marijuana.

Specifically, if the Stop Pot Act is passed into law, the federal government would withhold 10% of federal highway funds from states that violate the federal Controlled Substances Act (CSA). Since the CSA classifies marijuana as a Schedule I drug, any state that legalizes it would be in violation of federal law and thus face funding cuts.
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