Welcome to the Cannabis Countdown. In This Week’s Edition, We Recap and Countdown the Top 10 Marijuana and Psychedelics Industry News Stories for the Week of September 7th – 13th, 2020.
Without further ado, let’s get started.
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In Yet Another Sign That Psychedelics Are Making Their Way Into the Mainstream, Compass Pathways Has Filed for its Initial Public Offering (IPO) on the NASDAQ Stock Exchange
The London-based Compass Pathways, which will trade under the ticker symbol ‘CMPS,’ is backed by some serious heavyweights, including lead investor Christian Angermayer and well-known Silicon Valley tech billionaire Peter Thiel.
A Few Months Ago, Mike Tyson Made Headlines After Announcing Plans to Expand His Cannabis-Themed Tyson Ranch
Mike Tyson, the former heavyweight champ is back in the news following recent comments made about Psychedelics on the Joe Rogan Podcast as well as for his highly-anticipated return to the ring against Roy Jones Jr. this November.
Because Marijuana Remains Federally Illegal, the Industry is Largely Deprived of Tax Benefits Extended to Operators in Other Markets—But Still Has an Obligation to Pay Taxes and Properly Report Transactions
The Internal Revenue Service (IRS) on Thursday released updated guidance on tax policy for the Marijuana industry, including instructions on how Cannabis businesses that don’t have access to bank accounts can pay their tax bills using large amounts of cash.
The Beaver State’s Voters Will Decide if Psilocybin Can Be Sold, and Who Can Use it for Their Medical Wellness Issues
Efforts to legalize Psilocybin (Magic Mushrooms) just took a huge step forward because of an initiative on the ballot for Oregon voters to consider this November—Oregon Measure 109, the Psilocybin Program Initiative also known as “Yes on 109.”
Gov. Michelle Lujan Grisham (D) Said at a Press Briefing That the State Needs to “Look for Innovative Ways to Increase Economic Activity”
The governor of New Mexico again agued that that marijuana legalization represents an economic opportunity for the state, especially amid budget shortfalls caused by the coronavirus pandemic.
In a Recent Speech, Democratic Presidential Nominee Joe Biden Reaffirmed His Position that People Convicted of Low-Level Drug Offenses Should Be Forced into Rehabilitation to Stay out of Jail and Get Their Records Cleared
While Joe Biden seems to view the policy as a progressive alternative to incarceration, many drug reform advocates feel mandatory treatment reinforces misconceptions about substance misuse, and they point out that the efficacy of forced rehabilitation programs is scientifically questionable.
Twitter is Partnering with a Federal Drug Agency to Promote Substance Misuse Treatment Resources When Users of the Social Media Platform Search for “Marijuana” or Certain Other Substance-Related Keywords
In collaboration with the Substance Abuse and Mental Health Services Administration (SAMHSA), Twitter this week began adding a notification above relevant tweets on select drug terms that says, “If you or someone you know is struggling with substance use, you are not alone.” It directs users to SAMHSA’s helpline and website.
The North American Cannabis Market, Which Has Been Steadily Growing Over the Past Few Years, is Projected to Continue and Even Accelerate in the Years to Come
Retail sales of medical and recreational Cannabis in the United States are on pace to eclipse $15 billion by the end of 2020, an increase of approximately 40% over 2019 sales figures, according to exclusive projections from the 2020 edition of the Marijuana Business Facebook as quoted in the Marijuana Business Daily
Psychedelic Substances Are Also Showing Promising Early Results for Treating Mental Disorders, in Controlled Doses
A growing body of drug research has shown that experiences with Psychedelic drugs can be both positive and negative – scary and uncomfortable for some, but leading to improvements in well-being and relationships for others.
Edibles are Hitting the Medical Cannabis Dispensary Shelves in Florida, Launching a New Market Segment that Could Generate up to $250 Million in Sales in the First Full Year