Dec 11 2024

Minnesota Cancels Early Marijuana License Lottery Amid Legal Challenges

Minnesota’s Office of Cannabis Management (OCM) has cancelled its lottery for early marijuana business licenses intended to go to social equity recipients.

The cancellation follows lawsuits claiming certain applicants were unfairly excluded, leading a Ramsey County judge to halt the lottery initially scheduled for late last month. OCM explained that the intended benefits of preapproval licenses—allowing businesses to launch ahead of those with standard licenses—are no longer feasible due to the legal delays preventing timely implementation.

The cancellation could impact Minnesota’s marijuana supply, as recipients of early preapproval licenses would have been able to begin cultivation before those issued standard licenses.
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Dec 11 2024

Colorado Collects $20 Million in Marijuana Taxes in November, $236 Million in 2024

Colorado generated $20,147,794.18 in marijuana tax revenue in November, according to data from the Colorado Department of Revenue.

This figure is consistent with the $20.9 million made in October and the $21.1 million collected in September. The state’s highest monthly total this year remains $23.2 million, recorded in April.

Year-to-date marijuana tax revenue in Colorado has reached $236,223,020, contributing to an all-time total of $2,854,380,752 since legal sales began in 2014.
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Dec 10 2024

New York: $919 Million in Marijuana Sold Legally in 2024, Resulting in nearly $100 Million in Taxes

New York’s legal marijuana market is on track to surpass $1 billion in sales before the end of 2024.

According to data presented at today’s Cannabis Control Board (CCB) meeting, the state currently has 261 licensed marijuana stores, with sales reaching $919 million so far in 2024. This puts New York on track to pass the $1 billion mark before the end of the year.

“We will comfortably break that billion-dollar mark for the first time before the end of the year,” said John Kagia, who serves as director of policy at the Office of Cannabis Management (OCM). “That’s a billion dollars of cannabis sold legally to adults in New York State—cannabis that is no longer being purchased from the unregulated market. It’s also generating approximately $100 million in tax revenue to fund critical state programs. This is just the beginning, but what a start.”
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Dec 10 2024

Wisconsin Governor Names Marijuana Legalization as a Top Priority for 2025 Legislative Session

Wisconsin’s governor has highlighted marijuana legalization as a top priority for the state’s 2025 legislative session.

Governor Tony Evers (D) (photo credit: Mandel Ngan/AFP/Getty Images).

Speaking during a budget listening tour last week, Governor Tony Evers (D) outlined his post-election plans, ranking “legalizing marijuana” second among his administration’s objectives for the coming year. Other key proposals included healthcare expansion, gun safety measures, and additional reforms.

Evers, a long-time advocate for marijuana legalization, continues to face opposition from the Republican-controlled legislature. Although Democrats gained seats in the last election, they remain the minority in both chambers, presenting significant hurdles to passing comprehensive legalization before the 2026 elections.
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Dec 10 2024

Psychedelics, Especially Psilocybin and LSD, Show Promise for Easing Depression and Anxiety in Terminally Ill Patients, Study Finds

A new systematic review and network meta-analysis, published in the Journal of Psychopharmacology, explores the potential of psychedelics to alleviate existential distress in terminally ill patients.

Dried psilocybin (left) and LSD (right).

Conducted by researchers from the University of Modena and Reggio Emilia, the Italy Department of Mental Health and Drug Abuse, and the University Utrecht in the Netherlands, the study analyzed data from nine randomized controlled trials (RCTs) involving 606 participants.

The analysis assessed the efficacy and safety of psychedelics such as psilocybin, ketamine, LSD, and MDMA. Results showed significant improvements in depression and anxiety compared to control groups.

“Network meta-analysis identified psilocybin as the most effective compound for depression, and LSD for anxiety. However, head-to-head comparison between psychedelics did not reach statistical significance”, states the study. “The rates of treatment discontinuation and adverse events between psychedelics and controls were comparable.”
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Dec 10 2024

South Carolina Lawmakers File Bills to Decriminalize Marijuana Possession and Legalize Medical Marijuana

In a significant push toward marijuana reform, two South Carolina lawmakers prefiled bills on December 5 aimed at decriminalizing marijuana possession and establishing a medical marijuana program.

Both bills, introduced by Democratic members of the South Carolina House, reflect a growing national movement to reevaluate marijuana laws.

Introduced by Representative Todd Rutherford, House Bill 3019 seeks to create a framework for the legal medical use of marijuana in South Carolina. The bill, titled the “Put Patients First Act,” would allow registered patients suffering from debilitating medical conditions to use marijuana with a doctor’s recommendation. The measure outlines provisions for a confidential registry, establishes protections for physicians and caregivers, and permits the operation of dispensaries to cultivate and distribute marijuana for medical purposes.
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Dec 10 2024

Nearly $25 Million in Marijuana Sold in Connecticut in November, $275 Million in 2024

In Connecticut, licensed marijuana stores sold over $24 million worth of product.

In total , there was $24,411,425 in marijuana and marijuana products sold in November, a slight increase from the $24,055,147 sold in October and the $23,445,921 sold in September.

The year-to-date total for 2024 is now around $275 million, bringing the all-time total to nearly $600 million.
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Dec 09 2024

Montana: Licensed Marijuana Sales Top $26 Million in November, Over $300 Million in 2024

Montana’s marijuana market remains steady, with over $26 million in total sales in November.

The Montana Department of Revenue released data today showing that there was $23,124,107 in recreational marijuana sold in November, in addition to $3,584,808 in medical marijuana sales, combining for $26,708,916 in total sales. Sales include dried marijuana as well as a variety of marijuana products such as edibles, concentrates, prerolls, and topicals.

The year-to-date total for 2024 is now around $310 million, bringing the all-time total to $920,309,950.
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Dec 09 2024

Ohio Marijuana Sales Surpass $320 Million in First Three Months of Recreational Market, Nearly $40 Million in Tax Revenue

Since licensed marijuana sales began on August 7 in Ohio, the state has recorded $320,719,313 in combined sales across both medical and recreational markets, according to data released today by the Ohio Department of Commerce’s Division of Cannabis Control.

Between August 7 and December 7, recreational marijuana sales totaled $203,141,060, while medical marijuana sales reached $117,578,253. This period saw 2,537,211 recreational transactions and 1,179,673 medical transactions. The combined $320 million in sales resulted in around $38 million in tax revenue for the state.

The average price per gram has increased slightly to $7.47, up from a low of $6.99 the previous week. By comparison, prices in early August hovered around $9.42 per gram.
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Dec 09 2024

Federal Circuit Court of Appeals Appears Unlikely to Side With Cannabis Companies in Case Challenging Marijuana Prohibition

A federal appeals court on Thursday appeared poised to reject claims by several Massachusetts marijuana businesses that the longstanding federal prohibition on the drug is no longer constitutional, according to Reuters.

The businesses, represented by attorney David Boies, argued that the legal and legislative landscape surrounding marijuana has shifted significantly since the U.S. Supreme Court upheld the federal ban in 2005.

Boies told the three-judge panel of the 1st U.S. Circuit Court of Appeals in Boston that the original justification for the ban—rooted in Congress’s goal of eradicating marijuana nationwide—has effectively been abandoned. He pointed out that 38 states, including Massachusetts, now allow marijuana use for medical or recreational purposes. He also cited Congress’s actions since 2014 barring the U.S. Department of Justice from interfering with state medical marijuana programs and its 2010 approval of medical marijuana in Washington, D.C.
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