Oregon Made Over $8 Million in Taxes From Legal Marijuana Sales in September

In September those in Oregon purchased enough marijuana legally for the state to earn over $8 million in tax revenue.

More precisely, Oregon made $8,054,422 in marijuana taxes in September, according to new data released by the Oregon Department of Revenue. Although this is lower than the record setting $10.1 million made in August, it represents a an 8% increase from the $7.4 million garnered in September, 2017.

Of the $8 million in marijuana taxes made in September, roughly $6.9 million came from the statewide marijuana tax (17%), with the remaining $1.1 million coming from local taxes (up to 3% per locality).

This new data brings the state’s marijuana tax total for FY 2019 (which began on July 1 and goes to June 30, 2019) to $22,268,666, putting the yearlong total on track to reach $90 million, which would surpass the $82 million made in FY 2018.

For a full breakdown of the marijuana tax revenue Oregon has made since the start of legal sales in 2016, click here.

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Study: Medical Marijuana Associated With Reduced Opioid Use in Fibromyalgia Patients

Fibromyalgia patients suffering from lower back pain respond favorably to medical cannabis as a treatment, according to a new study published in the journal Clinical and Experimental Rheumatology, and epublished by the National Institute of Health.

For the study, researchers assessed the analgesic efficacy of both opioids and medical cannabis in 31 fibromyalgia (FM) patients with lower back pain. Participants were treated with inhaled cannabis containing less than 5% THC for a six month period

According to a press release from NORML, patients reported greater pain improvement with medical cannabis as opposed to the use of opioids alone. Patients demonstrated increased range of motion following cannabis treatment, but did not show any similar improvement with opioids. While undergoing cannabis treatment, the majority of patients elected to “decrease or discontinue pharmaceutical analgesic consumption”.

Authors concluded: “This observational cross-over study demonstrates an advantage of MCT (medical cannabis treatment) in FM patients with LBP (lower back pain) as compared with SAT (standard analgesic therapy). Further studies randomized clinical trials should assess whether these results can be generalized to the FM population at large.”

The full text of the study,  titled Effect of adding medical cannabis treatment to analgesic treatment in patients with low back pain related to fibromyalgia: An observational cross-over single center study, appears in the latest issue of the journal Clinical and Experimental Rheumatology.

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Recreational Cannabis Stores Finally Open in Massachusetts

Update: Two years after Massachusetts voters approved Question 4 legalizing the recreational use and sale of marijuana, two stores opened on Nov. 20 – Cultivate in Leicester and New England Treatment Access (NETA) in Northampton. At Cultivate, pot patrons paid from $19 to $420 for flower products.

In Northampton, Mayor David Narcewicz was first on line at NETA; he purchased an infused chocolate bar for $20. “It’s just a historic moment for the commonwealth and for the city,” he crowed. “I’m glad to be a part of it.”

Back in June, the Massachusetts’ Cannabis Control Commission (CCC), tasked by the legislature and governor to draft and implement the establishment of a retail cannabis industry, publicly indicated that their self-directed date to open non-medical cannabis retail outlets, July 1, would not be realized.

The Commission’s intent was to avoid mistake-laden employee background checks, consumer chaos and confusion and product inventory problems that occurred in the six previous states that created commercial cannabis markets (Colorado, Washington, Oregon, Alaska, Nevada and California).

NORTHAMPTON MAYOR DAVID NARCEWICZ: “It’s just a historic moment for the commonwealth and

MA: Over $440,000 in Legal Marijuana Purchased in First Day of Legal Sales With Just Two Outlets Open

With just two outlets open, there was over $440,000 worth of marijuana and marijuana products purchased legally in Massachusetts on Tuesday, the first day of legal sales.

According to the state’s Cannabis Control Commission, over 10,000 individual marijuana-related items (whether it be dried flower, tincture or some other product) were sold during the first day of legal sales. The total value of these products is over $440,000, resulting in over $88,000 in tax revenue for the state (which taxes marijuana at 20%).

These sales came from just two marijuana outlets, located in Leicester and Northampton. Additional outlets are expected to open in the coming weeks and months.

The start of legal sales on Tuesday comes a little over two years after voters approved an initiative to legalize marijuana in 2016. The initiative allows those 21 and older to possess and grow marijuana, and allows them to purchase the plant at a licensed marijuana retail outlet.

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Connecticut: Incoming Governor Says Marijuana Legalization Will be a Priority Next Year

Connecticut’s incoming Governor Ned Lamont (D) said on Monday that he plans to make marijuana legalization a top priority in 2019.

“It’s going to be one of the priorities we got,” said Lamont when asked about marijuana legalization. “It’s something I would support, and I don’t want the black market controlling marijuana distribution in our state. I think that’s a lousy way to go. Canada, Massachusetts, others are doing it”.

Lamont noted that “That’s going to lead to some enforcement things. In the meantime, we enforce Connecticut laws.”

Earlier this year Connecticut’s Joint Committee on Appropriations voted 27 to 24 to pass House Bill 5394, which would have legalized marijuana for everyone 21 and older. Unfortunately the measure failed to advance further before the legislative session ended, but it gave a clear sign that lawmakers are willing to give the issue serious consideration.

If Connecticut does legalize marijuana next year, they would become the 11th state to do so, following Michigan who passed a legalization initiative during this month’s election.

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New Jersey Governor Signs Hemp Bill Into Law

New Jersey legislation to create a hemp pilot program has been signed into law by New Jersey Governor Phil Murphy.

Assembly Bill 1330, signed into law today by Governor Murphy, “directs the Department of Agriculture to create an industrial hemp agricultural pilot program that promotes the study and cultivation of hemp to the maximum extent permitted by federal law.” The measure was passed by the Assembly in June, unanimously (67 to 0), and was passed by the Senate in September, 33 to 2.

The law states that “The department may partner with any qualified institution of higher education to administer the program; however, any person participating in the program must demonstrate to the satisfaction of the Secretary of Agriculture that the person has complied with all federal requirements related to the cultivation of industrial hemp.”

The department is also required “to adopt rules and regulations to administer the program. These include creating requirements for the licensing or contracting of growers participating in the program, prescribing hemp testing procedures to ensure compliance with federal law, creating a fee structure for administration of the program, and certifying germinating seeds and hemp cultivars if necessary. Any rule or regulation adopted by the department must comply with federal law.”

Assembly Bill 1330 notes that “Industrial hemp is used in a wide variety of products including textiles, construction materials, and foodstuffs. The demand for these goods is growing at the State and national level and hemp can be a viable agricultural crop in the State. The ability to grow hemp on an industrial scale would allow farmers to diversify their products by adding a lucrative cash crop and researching cultivation methods of industrial hemp would greatly aid farmers seeking to grow hemp for the first time.”

For more information on Assembly Bill 1330, including its full text, click here.

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MJBizCon Las Vegas 2018 Photo Gallery

MJBizCon broke cannabis conference records last week with 27,600 attendees (up 51% from last year) and 1,027 companies (up 38% from last year) exhibiting on the Las Vegas Convention Center floor.

Freedom Leaf had a large booth that housed our affiliated companies: Hempology, Irie CBD, AccuVapePlants to Paper and Leafceuitcals Europe.

Following the successful three-day event, the organizers announced that next year’s MJBizCon in Las Vegas will expand to five days and move to December 9-13. “The City of Las Vegas and Clark County have officially proclaimed the debut of ‘MJBizCon Week’ surrounding the annual MJBizCon Conference & Expo beginning in 2019,” they stated.

Like SXSW – the music, film and interactive festival in Austin in March – MJBizCon Vegas will become a weeklong event with many nightly parties worth attending. This year’s best parties included Willie’s Reserve, High Times Biz Bash (featuring a performance by 2 Chainz at Brooklyn Bowl), Grasslands and Cannabis Wonderland.

Click to view slideshow.

More 2018 Events

November-December Calendar

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Poll: 81% of Indiana Adults Support Legalizing Medical Marijuana

According to new polling, the vast majority of Indiana adults support legalizing medical marijuana.

The poll, conducted at Ball State University, found that 81% of adults in Indiana are in favor of legalizing marijuana for medical purposes. Only 16% are opposed to the move.

Earlier this year Indiana passed legislation legalizing the medical use of CBD oil. However, the extremely restrictive nature of the law has led to medical marijuana proponents to continue advocating for an expanded law that allows for the medical use of all marijuana, not just CBD oil, while expanding the list of conditions that qualify individuals to use the medicine. This new poll gives them quite a bit of ammo in their effort.

The poll shows that support for medical marijuana in Indiana is roughly the same as, or just slightly lower than, support nationwide: A HealthDay/Harris Poll released earlier this year found that 85% of Americans believe that marijuana “should be legalized for medical use”.

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Study: Marijuana Use Associated With Decreased Incidence of Liver Cirrhosis in Those With Hepatitis C

Marijuana use is associated with decreased incidence of liver cirrhosis in those with the Hepatitis C Virus, according to a new study published by the Canadian Journal of Gastroenterology and Hepatology.

A cirrhosis word cloud.

“The effect of cannabis use on chronic liver disease (CLD) from Hepatitis C Virus (HCV) infection, the most common cause of CLD, has been controversial”, states the study’s abstract. “Here, we investigated the impact of cannabis use on the prevalence of CLD among HCV infected individuals.”

For the study researchers “analyzed hospital discharge records of adults (age ≥ 18 years) with a positive HCV diagnosis”, evaluating “records from 2007 to 2014 of the Nationwide Inpatient Sample (NIS)” while excluding “records with other causes of chronic liver diseases (alcohol, hemochromatosis, NAFLD, PBC, HBV, etc.).”

Of the 188,333 records, researchers “matched cannabis users to nonusers on 1:1 ratio, using a propensity-based matching system, with a stringent algorithm.” They then “used conditional regression models with generalized estimating equations to measure the adjusted prevalence rate ratio (aPRR) for having liver cirrhosis (and its complications), carcinoma, mortality, discharge disposition, and the adjusted mean ratio (aMR) of total hospital cost and length of stay (LOS) [SAS 9.4].”

The study “revealed that cannabis users (CUs) had decreased prevalence of liver cirrhosis, unfavorable discharge disposition, and lower total health care cost ($39,642[36,220-43,387] versus $45,566[$42,244-$49,150]), compared to noncannabis users (NCUs).

Researchers conclude by stating that “Our findings suggest that cannabis use is associated with decreased incidence of liver cirrhosis, but no change in mortality nor LOS among HCV patients. These novel observations warrant further molecular mechanistic studies.”

For more information on this study, click here.

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Massachusetts’ First Legal Recreational Marijuana Sales to Occur on November 20

The first legal recreational marijuana sales in Massachusetts will take place on Tuesday, November 20.

Cannabis Becomes Legal TonightTwo marijuana retail outlets were given the green light today to begin selling recreational marijuana next week. New England Treatment Access in Northampton and Cultivate Holdings in Leicester will become the first outlets to sale marijuana as part of the state’s legalization initiative (passed by voters in 2016).

Both stores, which were given the go-ahead to open in three days by the Cannabis Control Commission, say they will open their door to recreational marijuana customers the morning of November 20. New England Treatment Access plans to open at 8 a.m., while Cultivate Holdings will open at 10 a.m.

As reported by the Associated Press, the “commence operations” notice given to the two outlets requires them to wait three calendar days before opening so they can coordinate with local officials and law enforcement. The openings are expected to draw big crowds, based on the experiences of other legal U.S. states and Canada when they first launched recreational sales.

“This signal to open retail marijuana establishments marks a major milestone for voters who approved legal, adult-use cannabis in our state,” said Steven Hoffman, chairman of the cannabis panel, in a statement. “To get here, licensees underwent thorough background checks, passed multiple inspections and had their products tested, all to ensure public health and safety as this new industry gets up and running.”

Legal-marijuana advocates, who had complained about the slow pace of regulatory approvals in the state, cheered the news .

“We can rightfully squawk about state delays and problematic local opposition, but the fact remains that we’re the first state east of the Mississippi to offer legal, tested cannabis to adult consumers in safe retail settings,” said Jim Borghesani, a spokesman for the group that led the ballot question to legalize recreational pot.

Borghesani called it a “historic distinction” for Massachusetts.

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New Jersey Lawmakers to Vote on Marijuana Legalization This Month Says Senate President and Assembly Speaker

New Jersey lawmakers will vote later this month to advance legislation that would legalize marijuana, says Assembly Speaker Craig Coughlin and Senate President Steve Sweeney.

On Wednesday at the state League of Municipalities’ annual conference in Atlantic City Coughlin said he has enough in committee to pass a measure that would legalize marijuana for everyone 21 and older. Speaking after Coughlin, Sweeney said he agrees with Coughlin’s timeline, but noted that he needs help from Governor Murphy to lobby votes; Murphy made legalizing marijuana one of his primary platforms in his successful run for governor last year, evening going as far as vowing to legalize marijuana in his first 100 days (a timeline which has passed, though most people don’t hold it against him as he’s continued to make it a key issue).

“The only way something like this gets passed legislatively is if all three of us work together,” said Sweeney. “If [the governor is] not going to lobby any votes for us then it won’t get done.”

According to a Quinnipiac University poll released earlier this year, 59% of voters in New Jersey support legalizing marijuana, with 37% opposed; only 4% remain undecided on the issue.

If New Jersey does legalize marijuana, they would become the 11th state to do so; Michigan became the 10th during this month’s election.

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N.H. voters send prohibitionists packing

Election results put legalization on the agenda for 2019

Last week, New Hampshire voters sent a strong message to Gov. Chris Sununu and the political establishment: it’s time to end marijuana prohibition! Although Sununu (a prohibitionist) won re-election, his margin of victory over legalization supporter Molly Kelly was smaller than anticipated. Most importantly, the Democratic party — which added support for legalization to its platform earlier this year — gained control of both chambers of the legislature.

The Senate, in particular, promises to be much less hostile to reform advocates in 2019. To illustrate, here are a few senators who were voted out last week:

• Sen. Gary Daniels (R-Milford) voted no on all cannabis reform bills throughout his time in the House and Senate. Voters replaced him with Rep. Shannon Chandley (D-Amherst), who has been much more reasonable on cannabis policy as a member of the House Criminal Justice and Public Safety Committee.

• Sen. Kevin Avard (R-Nashua) voted against a 2018 bill that would have allowed registered patients to cultivate their own limited supply of cannabis. Voters replaced him with a legalization supporter, former Rep. Melanie Levesque (D-Brookline).

• Sen. Bill Gannon (R-Sandown) strongly opposed all sensible marijuana policy reforms throughout his time in the House and Senate. This was supposed to be a safe Republican district, but voters chose to replace Gannon with legalization supporter Jon Morgan (D-Brentwood).

The odds of passing a legalization bill improved significantly as a result of the election. However, in order to achieve victory in the House and Senate, we will need a robust effort to educate and persuade undecided legislators.

After the election, I published a commentary in the Union Leader, making the case that “cannabis is objectively less harmful than alcohol, and most residents of the ‘Live Free or Die’ state are ready to see it treated that way.”

Please help us get our 2019 campaign off to a …

National League of Cities Calls on Feds to Reschedule Marijuana, Respect State Marijuana Laws

The National League of Cities – which represents nearly 20,000 cities – has passed two resolutions urging the federal government to reschedule marijuana and to respect state laws that legalize the substance.

In their resolutions the League calls on the feds to remove marijuana as a schedule 1 controlled substance, and to pass legislation “that would ensure states and local governments have the ability to establish laws and regulations on the manufacturing, distribution, and sale of medical and adult-use cannabis within the state.” This is the first time the group has called on the government to reschedule marijuana.

The League also passed a resolution calling for a resolution in the conflict between state and federal cannabis laws and “provide guidance to financial institutions that results in the cannabis market having access to the federally regulated banking system.” This resolution is similar to one the group has passed in previous years.

In addition, in their resolutions the League calls for the addition of federal regulations overseeing “the manufacturing, distribution and sale of legal medical and adult-use cannabis”.

The National League of Cities was founded in 1924 and represents over 19,000 cities, towns and villages.

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Oklahoma Officials Issue Licenses to Over 650 Medical Marijuana Dispensaries, Over 1,000 Cultivators

Oklahoma voters legalized medical marijuana just a few months ago, but the state has already issued licensed to thousands of patients and hundreds of businesses.

According to a recent tweet by the Oklahoma Medical Marijuana Authority (OMMA), the state has issued medical marijuana licenses to over 12,200 patients since the application process opened in late August.

In addition, the state has issued (as of November 11) licenses to 651 medical marijuana dispensaries, 1060 marijuana cultivators and 277 companies intending to process marijuana products. In total the OMMA has issued over 14,000 medical marijuana licenses.

“Thanks to the hard work of our Oklahoma Medical Marijuana Authority (OMMA) project team, we have been able to meet the required timelines of SQ 788 and provide a system that will efficiently provide for the processing of applications,” says Interim State Health Commissioner Tom Bates. “It has taken many long hours and great coordination between partners to reach this benchmark and we could not have accomplished our work without the help and expertise of the Office of Management and Enterprise Services and our software vendor, Complia Government Solutions.”

For the full text of Oklahoma’s new medical marijuana law, click here.

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Joy Beckerman: Hemp Industries Association Evangelist

You can’t take the hippie out of Joy Beckerman. The Hemp Industries Association (HIA) president became a canna-activist in Grateful Dead parking lots in the early ’90s. “I learned about the social and political injustice of marijuana and of industrial hemp on Grateful Dead tour,” she tells Freedom Leaf.

With her busy schedule, Beckerman doesn’t have the time to attend Dead & Company shows these days, though she did go to the Fare Thee Well concerts in 2015. She has a trade organization to run and presentations to make. Just days before this interview, Beckerman spoke to a large group of attendees at the CannaGather event in New York. At warp-speed, she discussed every aspect of hemp, from science to laws to investment possibilities.

Several days later, Beckerman tells me why she decided to make hemp her life’s work. “If you’re going to be a professional, you’re going to have to specialize and serve your clients and the needs of building either the hemp economy or the marijuana economy appropriately,” she says. “I chose the former.”

Back in her Deadhead days, Beckerman opened a hemp store, Heaven on Earth, in Woodstock, NY. She proudly recalls that “we got a cease-and-desist letter for stamping ‘I GREW HEMP’ on dollar bills.”

Connecticut: Voters put legalization on the agenda for 2019

Governor-elect Ned Lamont strongly supports ending marijuana prohibition; lawmakers will begin considering new bills in January

Last week, Connecticut voters made it possible that marijuana prohibition will be brought to an end during the next legislative session. For the first time in history, Connecticut has voted elect a governor, Ned Lamont, who supports the legalization, regulation, and taxation of cannabis for use by adults.

“It’s an idea whose time has come, and I’m going to push it in the first year,” Lamont said while campaigning.

Of course, a governor doesn’t have the power to end marijuana prohibition by himself. In order to put a legalization bill on Gov. Lamont’s desk in 2019, our coalition members will all need to step up and help convince representatives and senators to vote in favor.

The Marijuana Policy Project and the Connecticut Coalition to Regulate Marijuana are committed to making the Nutmeg State one of the next states to legalize and regulate cannabis. Please help us get our 2019 campaign off to a great start by contributing to our efforts today!

Please share this message with your family and friends, and encourage them to like us on Facebook and follow us on Twitter!

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Connecticut: Voters put legalization on the agenda for 2019

Governor-elect Ned Lamont strongly supports ending marijuana prohibition; lawmakers will begin considering new bills in January

Last week, Connecticut voters made it possible that marijuana prohibition will be brought to an end during the next legislative session. For the first time in history, Connecticut has voted elect a governor, Ned Lamont, who supports the legalization, regulation, and taxation of cannabis for use by adults.

“It’s an idea whose time has come, and I’m going to push it in the first year,” Lamont said while campaigning.

Of course, a governor doesn’t have the power to end marijuana prohibition by himself. In order to put a legalization bill on Gov. Lamont’s desk in 2019, our coalition members will all need to step up and help convince representatives and senators to vote in favor.

The Marijuana Policy Project and the Connecticut Coalition to Regulate Marijuana are committed to making the Nutmeg State one of the next states to legalize and regulate cannabis. Please help us get our 2019 campaign off to a great start by contributing to our efforts today!

Please share this message with your family and friends, and encourage them to like us on Facebook and follow us on Twitter!

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Freedom Leaf Dives Into the Hemp-CBD Market

Freedom Leaf Inc.’s bid to diversify into an industrial hemp cultivator, CBD producer and formulator drew support with a $3 million investment from Merida Capital Partners in October, capping off a busy year of deal-making for the Las Vegas-based company.

While Freedom Leaf (OTCQB: FRLF) has been traded on the Over-The-Counter markets as a fully reporting and audited public company for four years, the transaction with Merida Capital Partners marks the first time it has sold equity in the company to a venture capital firm. Merida Capital is not just any venture firm. It already commands a high profile in the cannabis business as a backer of KushCo Holdings Inc., New Frontier Data, Grow Generation, Emerald Scientific and many others successfully participating in the cannabis and hemp sector.

Freedom Leaf CEO Clifford J. Perry says Merida Capital’s long-term view on its investments reflects the firm’s name, taken from an area in Spain where the Romans built aqueducts that have stood for some 2,000 years: “They stay with their companies and promote acquisitions and synergy in their portfolio. So far, they’ve been tremendously successful.”

Perry likes to call Freedom Leaf the “little train that could” since it started out as a publisher of a magazine and is now branching out into hemp cultivation and full-spectrum CBD extraction businesses in a flurry of transactions.

Wisc.: Election brings new hope, but challenges remain

Local voters approve 13 medical marijuana and seven legalization measures; ask legislators to listen.

Great news! On Election Day, around a million Wisconsin voters approved advisory questions on their ballots calling for more humane marijuana laws.

More than half of the state’s population saw cannabis-related measures on their ballots, and every single one of the measures passed. Medical cannabis questions received between 67% and 89% in the 11 counties and two cities where they appeared. Adult-use questions garnered between 60% and 76% of the vote.

As the Wisconsin State-Journal’s analysis shows, the measures easily passed in jurisdictions that voted for the Republican and the Democrat for the gubernatorial race.

Congratulations to all the advocates and voters who were involved!

In other encouraging news, voters elected a new governor — Tony Evers — who supports medical marijuana and would like to put the question of legalization to voters. (In Wisconsin, voters can’t place questions on the statewide ballot themselves; only state lawmakers can refer questions to them.)

Meanwhile, in neighboring Michigan, voters overwhelmingly approved legalizing and regulating marijuana for adults 21 and older.

Despite all this encouraging news, however, challenges remain. Popular support for medical marijuana has been strong for many years, but thus far Wisconsin’s lawmakers have refused to act.

Let your state legislators know you want the legislature to finally listen to voters on medical cannabis when they convene for the 2019 legislative session. It’s past time Wisconsin roll back its cruel and wasteful war on marijuana.

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Texas Lawmaker Files Legislation to Decriminalize Marijuana Possession

Legislation to decriminalize marijuana possession has been filed in the Texas Legislature.

State Representative Joe Moody has prefiled legislation that would decriminalize the possession of up to an ounce of marijuana. The measure would make it so that anyone caught with up to an ounce could be fined a maximum of $250, but would not receive any jail time or criminal record. This is in stark contrast to current law, where possessing up to an ounce is punishable by a fine of up to $2,000 and up to six months in jail (as well as a misdemeanor charge on your record).

“Civil penalty legislation is the first thing I’ve filed on the first day of filing for the 86th Session”, said Moody in a press release. “There’s been an incredible swell of bipartisan support since last session, and the official Texas Republican and Democratic platforms both approve of this kind of reform now,”. Moody says he’s “optimistic that this will be the session we finally see smarter, fairer marijuana laws in Texas.”

According to a poll released in April and conducted by Quinnipiac University,  61% of voters in Texas are in favor of ending cannabis prohibition, with just 39% opposed. Although unsurpisingly Democrats and Independents support ending prohibition at a higher rate than Republicans (69%), support among Republicans was still impressively high for a state considered by many to be quite conservative (50%).

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MJBizCon Vegas Highlights: Speakers, Luncheons and Parties

The largest marijuana trade show in the country, MJBizCon, returns to Las Vegas from Nov. 13-16. More than 1,000 exhibitors will be displaying their products at the Las Vegas Convention Center (LVCC), including Freedom Leaf. We’ll be introducing our new companies – Hempology, Leafceuticals, Irie CBD and Accuvape – at Booth 1869.

Expo Schedule Highlights

Nov. 13: Crash courses, symposiums and forums.

Nov. 14: The expo officially opens with a series of morning keynotes from MJBiz’s Chris Walsh, Acreage Holdings‘ Kevin Murphy and Scotts Miracle-Gro’s Chris Hagedorn.

Nov. 15: A full day of speakers on a variety of subjects, including “Corporate Responsibility,” “New Tech and Innovation” and “Federal Marijuana Reform.”

Nov. 16: Getaway day has a shortened schedule. Morning highlights include “The Future of Hemp” with Joy Beckerman, “Private Equity Investing” with Al Foreman and “How Diversity Leads to Profitability.”

Luncheons, Receptions and Official After-Parties

Nov. 13: After-party at Omnia nightclub,3570 S. Las Vegas Blvd., 9;30-10:30 pm

Nov. 14: Minorities in Cannabis luncheon, 12-2pm, LVCC

Nov. 14: MJBizCon mixer, 4-6 pm, LVCC

Nov. 14: After-party at 1-Oak nightclub, …

There Was Over $135 Million in Legal Marijuana Sold in Colorado in September

There was over $135 million in marijuana and marijuana products sold legally in Colorado in September, according to data from the state’s Department of Revenue.

In total there was $135,536,453 in marijuana and marijuana products purchased legally in Colorado in September. This is slightly less than the $141 million sold in August, which set a record in the state for the most marijuana sold in a given month.

Of the $135 million in marijuana sold in September, $27.9 million came from medical marijuana sales, the remainder coming from the sale of recreational marijuana. These sales helped Colorado garner around $20 million in tax revenue for September alone.

This new data brings the state’s total marijuana sales for 2018 to $1,157,781,963, putting Colorado on track to sell around $1.6 billion in legal marijuana by the end of the year. This would a little higher than the $1.5 billion sold in 2017, and nearly 20% more than the $1.3 billion sold in 2016.

Marijuana has been legal in Colorado since 2013, thanks to voters approving a legalization initiative in 2012; the first marijuana store opened in 2014.  In Colorado marijuana is taxed at 15%, plus the standard 2.9% statewide sales tax. Revenue is allotted primarily for schools, hospitals and roads.

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Michigan Marijuana Legalization Initiative Should Take Effect Next Month

In all likelihood marijuana will become legal next month in Michigan.

On Tuesday Michigan voters handily passed Amendment 2, which legalizes marijuana for everyone 21 and older. The measure will now take effect 10 days after election results are certified, which almost always occurs in early December This would put the state on track to have marijuana legalization by the end of the year.

Once in effect, the new law will allow those 21+ to possess up to 2.5 ounces of marijuana, or up to 10 ounces at a private residence; they will also be allowed to grow up to 12 marijuana plants at a private residence.

Although the initiative legalizes marijuana retail outlets, it likely won’t be until late 2019, or the first half of 2020, when these stores will begin opening.

Amendment 2 was passed with 55.91% voting in favor, making Michigan the 10th state to legalize marijuana.

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Study Says “CBD Shows Similar Efficacy in the Severe Pediatric Epilepsies to Other Antiepileptic Drugs”

Cannabidiol (CBD) “shows similar efficacy in the severe paediatric epilepsies to other antiepileptic drugs”,  states a new meta-study published by the journal Developmental Medicine & Child Neurology, and epublished by the National Institute of Health.”

“There are hundreds of compounds found in the marijuana plant, each contributing differently to the antiepileptic and psychiatric effects”, states the study’s abstract. “Despite considerable community interest in the use of CBD for paediatric epilepsy, there has been little evidence for its use apart from anecdotal reports, until the last year. ” Researchers note that “Three randomized, placebo-controlled, double-blind trials in Dravet syndrome and Lennox-Gastaut syndrome found that CBD produced a 38% to 41% median reduction in all seizures compared to 13% to 19% on placebo.”

Similarly, “CBD resulted in a 39% to 46% responder rate (50% convulsive or drop-seizure reduction) compared to 14% to 27% on placebo. CBD was well tolerated; however, sedation, diarrhoea, and decreased appetite were frequent.”

Researchers conclude that “CBD shows similar efficacy to established antiepileptic drugs.”

The study was conducted by researchers at the University of Otago in New Zealand, and the University of Melbourne, Austin Health and Royal Children’s Hospital and the Florey and Murdoch Children’s Research Institutes, all in Australia.

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