November 1, 2018
The U.S. Government Can Actually Track Canadians Who Buy Marijuana Online: We’ve been hearing a lot of stories buzzing around lately about the how to purchase marijuana anonymously in Canada. First off, we know that buying marijuana with a credit card – online, or in store – is a questionable move for those who wish to remain anonymous as possible. Thanks to the U.S Patriot Act of 2001, if you purchase marijuana legally in Quebec or Canada with a Visa or MasterCard the transaction may be subject to scrutiny and investigation by the U.S. government, which also reserves the right to ban any weed-buying Canadians from entering the United States. 420intel.ca
Why U.S. Cannabis Companies are Packing Their Boards with Political and Corporate Heavyweights: As Big Marijuana reaches for legitimacy in the national marketplace, the cannabis industry’s top companies are packing their boards with stars. Brian Mulroney, former Prime Minister of Canada, earlier this month joined the board of Acreage Holdings which operates marijuana-growing facilities in several states, including Pennsylvania. Mulroney sits on the board with his old pal, former U.S. Speaker of the House John Boehner, who along with former Massachusetts governor Bill Weld, was named to the Acreage board in April. In the realm of cannabis, the boards lend an air of gravitas and legitimacy. Philadelphia cannabis entrepreneur investor Lindy Snider stated, “The fact they can attract that kind of talent is very telling. They’re not going to take these positions frivolously It’s a great indicator of where we’re headed.” www2.philly.com
The La Croix of Cannabis? The Marijuana Market Bets on Beverages: Cannabis startups envision a not-too-distant future in which consumers seek alternative refreshments during happy hour. As the cannabis industry continues to go more mainstream, entrepreneurs are on the lookout for the next niche market. Edibles have been done every which way, CBD-infused lotions and body care products are now touted by the likes of Kathy Ireland and Meryl Streep, and even “King of Instagram” Dan Bilzerian has a vape line. So, what remains? “Benjamin Witte, founder of Recess, said, “There was a massive opportunity to bring CBD and adaptogens to new product formats, primarily functional beverages.” www.fastcompany.com
ISRAEL, CBD Oil Offers Hope, Promising Results for Children Battling Autism: Adi Aran, who oversees the neuropediatric unit at Shaare Zedek Medical Center in Jerusalem, has spent years studying the affects of CBD oil on children who have autism. His latest study — the largest and most comprehensive of its kind in the world — will be complete within the next few weeks.
Aran carefully documented what he observed in the first 60 children he treated with CBD oil. Behavioral outbursts were “much improved” or “very much improved” in more than 60% of the patients. Their parents reported fewer disruptive behaviors, reduced anxiety and a decrease in communication problems while their kids were taking cannabis oil. And the treatment resulted in very few negative side effects compared to the antipsychotic medications commonly prescribed to children diagnosed with autism. The results, published earlier this year in the medical journal Neurology, attracted worldwide attention. WTHR.com
The Yin and Yang of Cannabis: Why CBD oil and THC are Better Together: Scientists say cannabinoids interact with each other “synergistically”—in a way that magnifies their individual effects. They call this interaction between cannabinoids “the entourage effect.” But what is synergy? The entourage effect of cannabinoids is similar: the effect of multiple cannabinoids is greater than the sum of their individual effects. In fact, the various strains of cannabis have differing effects because each strain has a unique ratio of cannabinoids which produces a unique overall effect. 420intel.com
Chart: Declines in Wholesale Prices Hammer Major Recreational Cannabis Markets: According to figures provided by Cannabis Benchmarks, a Connecticut-based provider of wholesale marijuana pricing data, wholesale cannabis prices in Oregon and Washington state are down more than 50% relative to the same week in October 2017, with double-digit declines also observed in California, Colorado and Nevada. Despite record demand in Colorado for adult-use cannabis – cumulative sales through August 2018 were up 12% compared to 2017 – wholesale marijuana prices continued to decline. Growing conditions in Washington and California were excellent this year, bringing a bountiful harvest into an already oversupplied market and pushing wholesale prices down even further. mjbizdaily.com
Rohrabacher Says Trump Will Liberalize Marijuana Policy After Midterms. Rep. Dana Rohrabacher of California said he has worked to secure a “solid commitment” from administration officials to legalize medical marijuana across the federal level and leave recreational use of the drug up to the states. “I have been reassured that the president intends on keeping his campaign promise,” Rohrabacher said. Trump had signaled on at least three separate occasions during the 2016 presidential campaign that he would leave recreational marijuana laws up to the states and that he could favor opening up medical marijuana usage at the federal level. www.rollcall.com
Nevada Legal Cannabis Added $1 Billion Impact to State Economy: Nevada’s legal cannabis industry generated nearly $1 billion in total output activity for the state’s economy in its first year of legalized recreational sales, a top industry group said Friday. With $989.7 million in total contributions to the economy—including auxiliary businesses that supply, outfit, and shelter cannabis companies—the industry also brought 8,300 full-time equivalent jobs to the state, the Nevada Dispensary Association said. Of that sum, the industry generated $443.3 million in direct, indirect, and induced labor income. www.leafly.com
$5.5 Billion up for Grabs if Australia Legalizes Cannabis: A new report pegs Australia’s recreational cannabis market at 7.8 billion Australian dollars ($5.5 billion) – assuming a fully legal and regulated market is put in place by 2023. In neighboring New Zealand, commercial opportunities from a fully regulated recreational marijuana industry would top 977 million New Zealand dollars ($634 million), the report from United Kingdom-based analytics firm Prohibition Partners estimates. Mjbizdaily.com
Pennsylvania Tops 80,000 Medical Cannabis Patient Registrations: Pennsylvania’s medical marijuana patient count continues to surge, boding well for MMJ sales.Here’s what you need to know:
- The number of registered patients has jumped by 33% from 60,000 to 80,000 in the past two months. The number approved to receive ID cards also has increased by a third, from 38,000 to 51,000 during the same period.
- Pennsylvania has 35 MMJ dispensaries in operation and another 17 will soon open, according to Philadelphia magazine.
- In late July, the state awarded 13 additional grower/processor licenses, bringing the total to 25.
- The state started allowing the sale of marijuana in flower or leaf form for vaping to be sold in July.
Marijuana Business Factbook 2018 projects the Pennsylvania MMJ market will reach $50 million-$80 million in sales this year. mjbizdaily.com
New Jersey’s Medical Marijuana Patients Double to 34,000: New Jersey’s medical cannabis program has double the number of participating patients since Democratic Gov. Phil Murphy took office in January 2018, his administration said Oct. 22, 2018. Murphy said the decade-old program, which began under Democratic Gov. Jon Corzine, has taken “incredible strides” in recent months with the addition of new covered conditions and a plan to double the number of treatment centers to 12. The expansion to 34,000 patients came after Murphy added five conditions to the list of covered illnesses in March, including anxiety, migraines, Tourette’s syndrome and two types of chronic pain, according to Health Department Commissioner Dr. Shereef Elnahal. The department said 800 doctors, up from 500, are now participating in the program. www.marijuana.com
Judge Tosses Oregon County’s Marijuana Lawsuit Against State: U.S. District Judge Michael McShane signed a formal order dismissing Josephine County’s lawsuit earlier this week, saying a city or county doesn’t have standing to sue a state in federal court, The Daily Courier reported Thursday. The lawsuit was filed in April and contended that federal law banning marijuana pre-empts Oregon’s law legalizing marijuana for commercial sales. AP
Doing Business with the Cannabis Industry? Make Sure Your Insurance Will Cover You: Much has been written about the difficulties and limitations of insuring leaf-touching cannabis businesses. However, any individual or company simply interacting with the cannabis industry may unsuspectingly have a gap in insurance, or worse, be jeopardizing their entire insurance portfolio. Law.com
Colorado Lawsuit Could Ripple Through US Cannabis Industry: A federal trial in Colorado could have far-reaching effects on the United States’ budding marijuana industry if a jury sides with a couple who say having a cannabis business as a neighbor hurts their property’s value. The trial set to begin 10-29-18 in Denver is the first time a jury will consider a lawsuit using federal anti-racketeering law to target cannabis companies. But the marijuana industry has closely watched the case since 2015, when attorneys with a Washington, D.C.-based firm first filed their sweeping complaint on behalf of Hope and Michael Reilly. KOMONews
North Dakota’s First Cannabis Production Facility Opens: The lone medical marijuana manufacturing facility currently up and running in the state aims to have marijuana products available in December or January. North Dakota Department of Health’s division of medical marijuana selected two companies to operate growing centers, including Pure Dakota in Bismarck. Pure Dakota received approval from the state last month, while the facility in Fargo has not. The Bismarck manufacturing facility is on the fast track to getting medical marijuana into the hands of qualifying patients, who can begin applying for registry cards on Monday. Bismarck tribune
New York Liquor Stores Want to Sell Marijuana: Instead of creating a whole new system of specialized stores to distribute marijuana when it becomes legal, New York should just allow existing liquor and wine retail outlets to sell cannabis to adults. That’s the position of a new advocacy effort launched by owners of booze shops this month. Marijuana Moment
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