A new report from the Arkansas Department of Finance and Administration (DFA) shares a variety of facts about the state’s medical cannabis program, which launched in May 2019.

According to the Arkansas Advocate, dozens of storefronts have opened over the past five years, and an estimated 102,000 medical cannabis patient cardholders have approved.

In total sales, medical cannabis has generated $1.1 billion since 2019 but for this year alone, the state collected approximately $68 million (between January through March), and just $45 million between February and March.

The report shows that $31.32 million was collected in medical cannabis annual revenue in 2019, which jumped to $181.8 million in 2020, $264.9 million in 2021, $276.3 million in 2022, and finally $282 million in 2023.

Although sales reported in 2024 so far (approximately $2 million less than in 2023), there has been an increase in products sold, with 13,804 sold in 2023 and 17,240 in 2024 so far. This noteworthy observation, according to Arkansas Department of Finance and Administration spokesperson Scott Hardin. “That’s a reflection of the more competitive pricing, which is great news for patients,” Hardin said.

An estimated $127 million in cannabis tax revenue has been collected over the past five years (approximately $5 million came from February and March 2024 alone). The law sets aside 4% of cannabis taxes to help provide meals for students who are on free or reduced lunch programs. The amount of cannabis products in pounds has steadily increased over time as well with 4,735 pounds sold in 2019, 28,021 in 2020, 40,347 in 2021, 50,547 in 2022, and 62,227 in 2023.

When medical cannabis sales first began in 2019, only 11,000 patients were approved cardholders. One year later, cardholder numbers increased to approximately 43,000, and finally the most recent cardholder number has surpassed 102,000. “The pace of it has varied, but the fact that we’ve consistently increased to where we are today with more than 100,000—it’s going to be interesting to see going forward if that continues over the next couple of years,” Hardin said. Current cardholder data shows that most patients use medical cannabis for post-traumatic stress disorder, followed by intractable pain.

An estimated 53%, or 92,494 cardholders, are women, according to data reported in June 2023. Additionally, patients between the ages of 25-44 hold the most cards than any other age range, and in terms of race, 84% of cardholders are white.

The DFA doesn’t show sales data for April at the moment, but Hardin noted that $2 million in sales were collected on 4/20 alone, which is three times more than the daily average (about $750,000).

Arkansas Cannabis Industry Association president, Bill Paschall, has become a mainstay in cannabis policy and regulations. He told the Arkansas Advocate that he has often spent days chatting with legislators to keep them up to speed with what’s going on in the world of weed.”

Although Paschall didn’t have any experience in medical cannabis previously, he has spent the past five years understanding the industry. One of his most important observations is that medical cannabis in Arkansas hasn’t led to any harmful effects on society. “The fears that people expressed when this first passed in 2016 have not come to bear,” said Paschall. “We’ve not seen social upheaval or spikes in kids with drug issues due to medical marijuana. … The industry is well regulated in Arkansas, and because it’s well regulated the folks who buy medical marijuana can have confidence in what they’re buying.”

Natural Relief Dispensary owner David Berman manages the second top performing dispensary in the state, having sold 1,067 pounds of cannabis products in February and March 2024. According to Berman, a majority of the products sold at his dispensary is flower. “Most of our patients are just used to that consumption method,” Berman said. “But as our market matures, we’re educating them on the other consumption methods like edibles, vape cartridges and concentrates.”

Currently, Arkansas allows for a maximum of 40 dispensaries statewide, while only 38 operating dispensaries. The remaining two slots for dispensary licenses have been delayed for approval to do recent litigation.

First involves Green Springs Medical Marijuana Dispensary in Hot Springs, Arkansas, which had its license revoked on May 2. The Arkansas Alcoholic Beverage Control Division (ABC) stated that multiple violations, including selling 1,800 products that had expired, as well as failure to keep the processing area clean and sanitary, and more. “When a dispensary ignores warnings, violations and guidance offered by ABC, the only remaining option is revocation,” said ABC division director Christy Bjornson. “We anticipate an appeal and look forward to presenting our case to the board.”  

Green Springs Medical Marijuana Dispensary owner Dragan Vicentic told the Arkansas Advocate that he plans to appeal the decision. “I thought the fine amount would be reduced because of my satisfactory explanation, and the next thing I knew, the director asked for a revocation of the license, which I thought was very extreme,” Vicentic said.

Arkansas advocates are working on expanding the state medical cannabis law through the ballot measure called “The Arkansas Medical Marijuana Expansion Initiative.” If the initiative is included on the November 2024 ballot and passed into law, it would allow adults over 21 to cultivate seven mature and seven immature plants at home, expand the type of people who would be allowed to certify patients, remove fees for cardholder applications, and allow cards to last for three years instead of just one before needing to reapply.

The post Arkansas Finance Department Shows Medical Cannabis Program Growth first appeared on High Times.

The post Arkansas Finance Department Shows Medical Cannabis Program Growth appeared first on Paradise Found.

The University of California, Berkeley (UCB) recently published a scientific brief in February regarding illegal water use for cannabis plants.

Entitled “Water Use: Cannabis in Context,” the brief was conducted by individuals at the Berkeley Cannabis Research Center, which is part of the College of Environmental Science Policy & Management. The Cannabis Research Center has been reviewing cannabis water use since 2017, and the most recent brief is split into four sections posed with a question.

First, “How much water does cannabis use relative to stream flow?” explains that cannabis water use in regions along the Northern California coast and semi-inland areas (primarily Humboldt and Mendocino County) represents a “small fraction” of surface water supplies year-round, and especially during the months of July, August, and September. However, cannabis grows aren’t spread out evenly amongst these areas, with many farms gathered near one another. In those areas, “cannabis water demand represents >10% of available supplies during the dry season.” Researchers also make an important note that the watershed samples they refer to include demand mainly from unlicensed farms.

The researcher’s second section addresses the comparison between water demand between unlicensed versus licensed farms. “Unlicensed cannabis accounts for significantly more cultivated area than licensed cannabis farming and therefore has a much larger water demand footprint,” researchers explained. “Furthermore, because unlicensed cannabis farms often have little to no water storage on-site, water is extracted from watersheds on demand, which tends to peak in August.”

Ultimately, unlicensed farms consume much more than licensed farms throughout the year. “Water demand for unlicensed cultivation therefore exceeds that of licensed cultivation to an even greater extent in the driest time of year when stream flow is lowest,” the authors stated, recommending that incentives be provided for licensed farmers to be able to obtain or retain their existing licenses while “increasing off-site stream storage” to use as irrigation during the summer months.

The third section explores how much residents in Humboldt and Mendocino Counties consume in comparison to the amount of water that licensed grows utilize. Researchers studied 91 watersheds and found that resident’s demand for water usage far exceeded that of licensed cultivators by 97%. “On average, licensed cannabis farm demands are one-tenth the amount of water as residential demand,” the brief states. “Water demands for other forms of agriculture in the region far exceed those of cannabis and residential use.”

Finally, the last section examined water used licensed cannabis grows and found that those cultivation sites only used 4% or less of streamflow in the month of August, some even without additional water storage. “If licensed cannabis farms had enough water storage capacity to accommodate at least half of their annual water demand, there would be no watersheds among those sampled exceeding 2% of their estimated streamflow availability,” the authors concluded. “If licensed cannabis farms had storage capacity equivalent to their annual water demand, licensed cultivation would not require more than 1% of available flow in any sampled watershed.”

The release of this brief is well-timed to educate voters as spring approaches, which is also when they will have the opportunity to choose, approve or reject the Humboldt Cannabis Reform Initiative (HCRI) which will appear as Measure A on the upcoming ballot. If approved, it would severely hinder local growers by banning them from making any changes to their farms. A report analyzing the HCRI was prepared for Humboldt County Board of Supervisors by the Humboldt County Planning Department in March 2023, explaining the harms of such a measure. “HCRI has been written to effectively discourage existing permit holders from modifying their permits in any way,” the report stated. “This includes adding infrastructure intended for environmental protections or modification of activities or site configuration to adapt to the evolving industry. These restrictions affect the smallest of farms permitted in Humboldt County to the largest cultivation sites.” 

More recently, former Board of Supervisors member Mark Lovelace, who has spent the past seven years advising other California counties and cities on cannabis regulations, wrote an op-ed for Times Standard urging voters to vote no on Measure A. “Based on my professional analysis, I believe that Measure A will deal a devastating blow to the small cannabis businesses it purports to want to help,” Lovelace wrote. “The measure will impose an unrealistically small limit on the size of any new cannabis farms and will deny even the smallest ‘craft’ farmers any opportunity to grow or adapt their operations within Humboldt County. With cannabis prices continuing to fall, small farmers will be assured of making less money every year until they are no longer viable.”

Lovelace described the measure as “grossly uninformed and demonstrates a deep lack of understanding of the cannabis industry and basic economics.” Measure A cites any grow larger than 10,000 square feet (which he describes as slightly larger than the average suburban lot), is a “large grow.” Additionally, the average size of all licensed Californian cultivator lots are more than 27,000 square feet, 93 cultivators are larger than 100,000 square feet, and nine include more than one million square feet.

In addition to other important points of defense of local cannabis growers, Lovelace summarizes the effect that Measure A may have on small cultivators. “Measure A would put Humboldt County’s small cannabis farms at an extreme disadvantage against large growers elsewhere in the state, rendering them largely unviable in an increasingly competitive industry. I urge Humboldt County’s voters to vote NO on Measure A,” Lovelace concluded.

The post Report: Unlicensed Cannabis Grows Use More Water Than Licensed Grows in California appeared first on High Times.

The post Report: Unlicensed Cannabis Grows Use More Water Than Licensed Grows in California appeared first on Paradise Found.

A lengthy new report from the Department of Defense found that during Trump’s administration, the White House Medical Unit was mishandling dangerous prescription drugs.

The 80-page document released on January 8 detailed inappropriate mishandling of pharmaceuticals and their respective prescribing practices. The investigation into this matter began in 2018 after the Inspector General of the Department of Defense received complaints which included shoddy record keeping, overuse of brand name medications instead of cheaper generic alternatives, mishandling of medications such as one person picking up a prescription for another and so on. 

“Without oversight from qualified pharmacy staff, the White House Medical Unit’s pharmaceutical management practices may have been subject to prescribing errors and inadequate medication management, increasing the risk to the health and safety of patients treated within the unit. Additionally, the White House Medical Unit’s pharmaceutical management practices ineffectively used DoD funds by obtaining brand‑name medications instead of generic equivalents and increased the risk for the diversion of controlled substances,” the report said.

Over 120 officials were interviewed during the course of the investigation. Several witnesses gave testimony to the Department of Defense in the course of this investigation, almost all of whom described a very laissez faire environment compared to most pharmacies, or most fast food restaurants for that matter, which have all been under immense pressure from the DEA to crack down on mishandling of controlled substance. Most anyone who has tried to fill a prescription for opioid painkillers or stimulants like Adderall in the last five years can attest to this. 

“Anything that took place at the White House Clinic was never written down, never recorded. [However,] the only record that you ever had that a patient came in and got any sort of medication would have been if it was a controlled substance that we were required to document for the pharmacy. But if you came in and got any other prescription medication that wasn’t classified as a controlled substance there would be no record that you came in and did anything,” one witness told the Department of Defense, while another said that it was common practice to make “go-bags” of drugs like Ambien and Provigil for White House staffers before overseas trips.

In addition to mishandling of medications, the investigation found that taxpayers have been footing the bill for egregious overuse of brand name medications in lieu of their generic alternatives. Between 2017 and 2019, for instance, the White House spent $46,500 for Ambien and $98,000 for Provigil, which are 174 and 55 times more expensive, respectively, than their generic alternatives. Medical services including prescribing of controlled substances were also found to have been administered to ineligible White House staffers, on an average of six to 20 times a week according to the report. 

“We found that the White House Medical Unit provided a wide range of health care and pharmaceutical services to ineligible White House staff in violation of Federal law and regulation and DoD policy. Additionally, the White House Medical Unit dispensed prescription medications, including controlled substances, to ineligible White House staff,” the report said. “We concluded that all phases of the White House Medical Unit’s pharmacy operations had severe and systemic problems due to the unit’s reliance on ineffective internal controls to ensure compliance with pharmacy safety standards,” the report said.

The Department of Defense report concluded that more stringent and robust policies to prevent such issues in the future, which included establishing stricter controls for how controlled substances are prescribed and distributed as well as establishing stricter controls for who is eligible for White House medical care and who is not.

“We recommend that the Director of the Defense Health Agency, in coordination with the White House Medical Unit Director, develop policy and procedures to manage controlled and non‑controlled medications, including, at a minimum, procurement, storage and inventory, prescribing and dispensing, and disposal,” the report said. “We recommend that the Director of the Defense Health Agency, in coordination with the White House Medical Unit Director, establish controls for White House patient eligibility within the Military Health System.”

The complete report from the Inspector General can be found here. 

The post Trump’s White House Pharmacy Had a Bit of a Pill Problem appeared first on High Times.

The post Trump’s White House Pharmacy Had a Bit of a Pill Problem appeared first on Paradise Found.

Over the last half-decade, millions of Americans have seen their marijuana-related convictions expunged by state courts, according to a new report from the National Organization for the Reform of Marijuana Laws (NORML).

The findings highlight a byproduct of the legalization of recreational cannabis for adults, as states that have ended prohibition have also included a path toward pardons and expungements for those who have previously been busted for marijuana. Additionally, President Joe Biden issued pardons in 2022 to individuals with low-level federal marijuana convictions.

NORML’s report, based on publicly available information, revealed that “state and local courts have taken action on an estimated 2.3 million marijuana-related cases” since 2018. According to the report, the states “that have been most active in providing relief to those with past convictions include California, Illinois, Missouri, New Jersey, New York, and Virginia –– all states that have legalized recreational cannabis for adults. 

NORML said that it “estimates that state and local police have made more than 29 million marijuana-related arrests since 1965,” and that among those who were arrested, “some 90 percent were charged with low-level cannabis possession offenses.”

“Hundreds of thousands of Americans unduly carry the burden and stigma of a past conviction for behavior that most Americans, and a growing number of states, no longer consider to be a crime,” NORML’s Deputy Director Paul Armentano said in a statement on the report. “Our sense of justice and our principles of fairness demand that public officials and the courts move swiftly to right the past wrongs of cannabis prohibition and criminalization.”

NORML’s report details a number of examples of state governors and local officials issuing pardons for low-level pot convictions, including in Illinois, where Democratic Gov. J.B. Pritzker issued 11,017 pardons to those with low-level marijuana convictions in 2019.

In the report, NORML also breaks down the differences between pardons and expungements.

“While pardons provide a level of forgiveness for past crimes, these are not the same as expungements – which seal past convictions from public view. To facilitate the latter, lawmakers in many states in recent years have enacted laws providing explicit pathways to expunge the records of those with low-level marijuana convictions. In some cases, those eligible for expungement relief are not required to take any action. Instead, state officials automatically review past records and notify those who meet the state’s criteria for expungement. In other cases, state law requires those seeking to have their records expunged to petition the courts in order to have their records reviewed and vacated,” the report said. “Predictably, states that have automated the review and expungement process have seen a massive uptick in the processing of marijuana-related expungements.”

Despite all the sweeping reforms at the state and local level, cannabis remains prohibited under federal law. But Biden’s actions were significant, affecting around 6,500 United States citizens.

“As I often said during my campaign for President, no one should be in jail just for using or possessing marijuana.  Sending people to prison for possessing marijuana has upended too many lives and incarcerated people for conduct that many states no longer prohibit. Criminal records for marijuana possession have also imposed needless barriers to employment, housing, and educational opportunities.  And while white and Black and brown people use marijuana at similar rates, Black and brown people have been arrested, prosecuted, and convicted at disproportionate rates,” Biden said in 2022 after issuing the pardons. 

In addition to the pardons, Biden also urged “all Governors to do the same with regard to state offenses.”  

“Just as no one should be in a Federal prison solely due to the possession of marijuana, no one should be in a local jail or state prison for that reason, either,” the president said, adding that he had asked “the Secretary of Health and Human Services and the Attorney General to initiate the administrative process to review expeditiously how marijuana is scheduled under federal law.”

“Federal law currently classifies marijuana in Schedule I of the Controlled Substances Act, the classification meant for the most dangerous substances.  This is the same schedule as for heroin and LSD, and even higher than the classification of fentanyl and methamphetamine – the drugs that are driving our overdose epidemic,” he said.

A year later, President Biden issued a second pardon proclamation that “will pardon additional offenses of simple possession and use of marijuana under federal and D.C. law.” 

“Criminal records for marijuana use and possession have imposed needless barriers to employment, housing, and educational opportunities. Too many lives have been upended because of our failed approach to marijuana.  It’s time that we right these wrongs,” Biden said in 2023. “Just as no one should be in a federal prison solely due to the use or possession of marijuana, no one should be in a local jail or state prison for that reason, either. That’s why I continue to urge Governors to do the same with regard to state offenses and applaud those who have since taken action.”

The post Report: More Than 2 Million Pot-Related Expungements Since 2018 appeared first on High Times.

The post Report: More Than 2 Million Pot-Related Expungements Since 2018 appeared first on Paradise Found.

As states throughout the country continue to legalize medical and adult-use cannabis, the federal de-scheduling and later legalization of cannabis is likely to come sometime in the near future. But what exactly comes with such a widespread shift in policy?

As we look ahead at the potential for federal legalization, a new report warns lawmakers about taking a thoughtful approach, namely accounting for the potential unintended effects that interstate commerce on the current intrastate cannabis markets could have on social equity and small cannabis businesses.

Report Highlights Unintended Consequences of Federal Reform

While the shift would better align federal policy with state-level reforms and public opinion, “it will also disrupt and force the transformation of existing intrastate cannabis markets,” the report by Parabola Center for Law and Policy opens. “How the nation will shift from dozens of individual state cannabis markets to one national market, and the implications of that shift, is unknown but likely to be dramatic.”

The report continues, “It is also safe to assume that many advocates for federal de-scheduling are not aware of the consequences such a policy change portends for existing and entrenched state cannabis policies.”

The report, titled “How to Federally Legalize Cannabis Without Violating the Constitution or Undermining Equity and Justice,” offers a blueprint for Congress to protect cannabis professionals in the industry, promoting justice with care to avoid undoing the progress states with legal cannabis laws have worked toward through the past decade. 

The American cannabis market is worth $33.8 billion, composed primarily of small business owners making up more than 10,000 businesses providing an estimated 400,000 jobs across the U.S.

The report was authored by Tamar Todd, an attorney whose primary experience is drug policy alongside her role as a U.C. Berkeley School of Law lecturer teaching cannabis law and policy.

Protective Recommendations for Federal Cannabis Legalization

The report makes three key constitutional policy recommendations to mitigate the risks of corporate consolidation and monopolization that may come with federal reform. Parabola also includes draft text addressing the potential solutions. 

The first recommendation explicitly preserves states’ rights to set their own cannabis laws “as designed and without disruption” in the face of federal reform. The report states that Congress should “specifically state that it does not intend to preempt, prohibit, or otherwise limit any state law, regulation, or requirement regardless of whether the state law affects interstate commerce or favors in state interests.”

The second recommendation deems that small, social equity and worker-owned cannabis businesses should gain priority in interstate cannabis commerce. These guidelines, per the recommendation, would be regulated through a registration system with the federal government, with registrations reserved for state-licensed entities that are involved in promoting industry diversity, that offer support and services to “disadvantaged individuals, veterans, or individuals and communities most affected by cannabis prohibition and enforcement” or protect the rights of workers to organize and co-own businesses.

Parabola also recommended a focus on avoiding U.S. Constitution’s Dormant Commerce clause violations. This clause prohibits states from preventing or restricting interstate commerce, additionally granting Congress the authority to regulate this type of commerce. Should cannabis see federal legalization, the report explains that state regulatory structures could open themselves up to liability under federal legalization should they keep their industries within their respective states. 

Still Time to Mitigate Risk

The report warns that, should the government legalize cannabis on a federal level without “explicit federal protections for state-based intrastate markets, everything will change once cannabis is de-scheduled. The world of legal cannabis will look nothing like it does now.” 

Without these protections, the report predicts that the end of federal legalization and demise of interstate barriers “will likely lead to consolidation of the cannabis industry and a monopolization of the market by large cannabis companies. Additionally, large corporations currently operating in other areas will enter the cannabis market once the risks and constraints of federal prohibition are removed.”

While there are surely benefits to federal cannabis legalization, the report argues that that market is “unlikely to prioritize the social equity goals that have driven many states’ existing policies.”

Parabola ultimately calls on Congress to protect state-level cannabis equity programs and limit market consolidation and monopolization, otherwise warning that “state efforts to create an equitable and inclusive industry will be wiped out.”

The post Report: Federal MJ Reform May Hurt Small Business and Equity, Congress Must Act appeared first on High Times.

The post Report: Federal MJ Reform May Hurt Small Business and Equity, Congress Must Act appeared first on Paradise Found.

Marijuana-related jobs are becoming harder to find in Colorado. You’ve likely seen headlines claiming that Colorado marijuana sales are dropping. Alongside this, the state’s cannabis workforce has also fallen by 28 percent according to a recent report.

This is a first for the Centennial State, which legalized adult-use cannabis sales back in 2014. While such trends are being seen across the country, reports show that Colorado has been hit the hardest.

Between February 2022 and February of this year, cannabis business owners cut nearly 10,500 jobs within the state—bringing the state down to a total of 27,856 workers. Compare that to the industry employment rates of other states:

• California – 85,593
• Florida – 29,011
• Illinois – 29,925
• Massachusetts – 28,370
• Michigan – 35,405

It comes as no surprise that a state like California has surpassed Colorado simply due to its size. However, in comparison to a state like Florida (which only offers medicinal marijuana), this is a surprise

Colorado’s employment decline parallels that of its drop in wholesale cannabis prices: Currently, prices are down 61 percent in comparison to 2021.

“I’m not surprised,” Truman Bradley, executive director of Marijuana Industry Group, told Westword. “The industry has gone through a 20-month downturn with no end in sight. Sales are down over 20% on the recreational side and over 45% on the medical side this year.”

According to the Colorado Department of Revenue, the state recorded $129.4 million in its first month of sales. This is down 15% from the $151.1 million sold in January 2022.  And more than 30% down from January 2021.

This loss in sales is affecting the industry as a whole. With accountants, software providers, and other business services all cutting staff. Not to mention, state and tax revenues are also declining.

“The economic impact of the Colorado cannabis industry is real, and unfortunately, we’re seeing that a contraction also has ripple effects,” Bradley noted.

Employment Cuts Being a Result of Legalization, Economic Inflation, and COVID-19

While times are tough for Colorado’s cannabis industry, some economic forecasts are optimistic. The Governor’s Office of State Planning and Budgeting predicts marijuana tax revenue will grow 16% in 2024.

Still, these employment cuts are simply a reminder of the continuing struggles the country faces from the public health crisis of 2020.

“COVID changed a lot of things in cannabis and other industries,” Bradley said. “After a big shock like that, it’s hard to know what the world would’ve been like without that shock. We went through the best year we’ve ever had, immediately followed by a downturn. It’s not just that other states have legalized. We’re also dealing with high inflation that we haven’t seen since cannabis has been legal.”

With that in mind, it’s difficult to assume what direction Colorado should take its industry. Bradley believes there are “long-term concerns” with the current 15% excise tax on wholesale marijuana.

Colorado remains only one of three states that charges an excise tax on wholesale cannabis transfers. Such a decision was approved by voters when Coloradans initially legalized it in 2012.

“When Colorado voted for the various tax plans in place now, in some cases, we were the only legal marketplace to buy cannabis for almost one thousand miles,” Bradley said. “That’s not the case anymore, so decade number two needs to look different than decade number one if the Colorado cannabis industry is going to stick around.”

The post One-Third of the Colorado Marijuana Workforce Has Been Cut appeared first on High Times.

The post One-Third of the Colorado Marijuana Workforce Has Been Cut appeared first on Paradise Found.

A recent report released by AYR Wellness discovered shifting trends and popularity of cannabis consumption activities on 4/20. More than 900 cannabis consumer participants, ranging in age between 21-74 years old, were asked a variety of questions between February and March.

According to AYR Wellness President and CEO David Goubert, the study sheds some new light on cannabis continuing to grow in popularity. “Our 4/20 survey proves that the unofficial cannabis holiday continues to hold a special place in the hearts of consumers, with nearly 40% planning to take off work to celebrate,” Goubert said, according to Forbes. “The data also uncovered some compelling findings around how people prefer to consume cannabis—from who they consume with to formats they prefer consuming with—that AYR can use to create more meaningful engagements with our customers.”

Goubert referred to the statistic that 39% of participants stating that they were planning on taking time off for 4/20. Additionally, 31% of participants said that 4/20 is a “special occasion” (and specifically 42% of medical cannabis consumers also believe that 420 is a “special day”).

However, 71% of participants said that their consumption habits won’t change on 4/20, while 23% said that they plan to consume more cannabis than they usually do.

For those who admitted that they plan to celebrate, 70% of them said that they were interested in trying beverages or beverage enhancers. For those who prefer flower, the study also found that 61% of participants choose to break up their flower with their hands rather than use a grinder (an answer shared by 73% of those between the ages of 55-74).

April falls on a Thursday this year, and because it lands on a weekday, 73% of consumers said they’ll be consuming after 5pm (and 47% will consume later in the evening after 10pm). While 78% of consumers intend to consume on their own, 43% are “somewhat comfortable” spending time with others while using cannabis, 45% said they are “somewhat comfortable” being under the influence in public, and 44% are “somewhat comfortable” consuming at a social gathering where cannabis is not being consumed by everyone involved.

A new trend is also beginning to rise for some cannabis companies who have opted to give their employees paid time off to celebrate the holiday, such as Massachusetts-based Temescal Wellness. “4/20 is a day to show appreciation, love and respect for cannabis and its power to help amplify the health and happiness that people experience in their daily lives,” said Temescal Wellness Director of Retail and Customer Engagement Sian Leininger. “For us, it’s a day to celebrate our employees, whose passion, knowledge and true dedication inspires their unparalleled service to our customers and our community all of the other days of the year.”

Likewise, Sacramento-based Conception Nurseries announced on April 6 that April 20 would be a paid holiday as well. “The paid holiday is the company’s way of showing gratitude for the hard work and dedication of our employees,” said Conception Nurseries founder and CEO, Kevin Brooks. “Taking the day also gives us a chance to reflect on what our hard work in this industry is for—where we have come from and where we are going.”

April 20 events are returning in full swing this year now that the dangers of the pandemic have subsided, and sales are expected to break more records. Last year, $485.3 million in cannabis sales was collected over the entire time frame between Friday, April 15 and Wednesday, April 20, according to data collected by Akerna. A recent report from Fortune projects that the cannabis industry as a whole could reach up to $35.5 billion by the end of the year, and approximately $57 billion by 2028.

The post Report: 39% of Consumers Plan to Take Time Off of Work to Celebrate April 20 appeared first on High Times.

The post Report: 39% of Consumers Plan to Take Time Off of Work to Celebrate April 20 appeared first on Paradise Found.

Information collected in the “Global Hemp Market by Type” report from Research and Markets, which analyzed the numerous applications of hemp as a textile, food item, construction material, and more. The report projects that the next five years will see the industry’s compound annual growth rate (CAGR) of 21.6%, suggesting that this percentage will rise because many other countries have legalized industrial hemp, or will do so in the near future.

The report also cites examples of hemp successes seen throughout this year. In terms of application, hemp meal was recently covered as an alternate method of feeding livestock. “Hempseed and hempseed cakes could be used as feed materials for all animal species, according to the scientific opinion of the European Food Safety Authority (EFSA) Panel on Additives and Products or Substances Used in Animal Feed, with species-specific differences in the rate of inclusion in the diet,” a Research and Markets press release states. “Hemp oil, as a rich source of essential fatty acids, can be used as a supplement in animal feed, while hemp seeds and hempseed cakes can be used as a fat and protein source in animal diets.”

The report also explains that hemp bast fibers, which are made up of cellulose, hemicellulose, lignin and pectin, also offer many benefits for use in textiles. “The benefits of bast fibers include lighter product weight, lower energy consumption, and a smaller environmental footprint. Bast fibers can be spun and woven and are thus widely used in the textile industry,” Research and Markets states. “Furthermore, bast fibers are far stronger than cotton and do not mildew. Hemp bast fibers have exceptional properties such as strength, durability, and anti-bacterial and anti-fungal properties.”

In addition to an increase in legalization worldwide, the report also cites the increased use of hemp seed and oil in food items and a “rising incidence of Chronic Diseases” to be two main drivers contributing to the rise of hemp. Although, the lasting stigma against hemp and cannabis and some country’s restrictions on industrial hemp continue to hinder its growth.

Other hemp-based reports have also been published recently and anticipate a similar growth for the hemp industry. A report from the United Nations Conference on Trade and Development (UNCTAD) called “Commodities at a glance: Special issue on industrial hemp” that the global hemp market will reach $18.6 billion by 2027. According to UNCTAD economist and report author Marco Fugazza, hemp offers a lot of potential for both established and developing countries. “The growing hemp market offers significant economic opportunities that all countries can capitalize on,” Fugazza said. “As a renewable product, the opportunities are sustainable. This is extremely important as countries try to boost their economies while protecting the environment.”

The UNCTAD report recommends that “governments must clarify its legal status as a non-intoxicant.” Once this has been done, countries can begin to explore the many benefits that hemp plants offer. “Because of its versatility and its functional characteristics, the industrial hemp market holds vast potential in agriculture, textiles, recycling, automotive, furniture, food and beverages, paper, construction materials and personal care,” the UNCTAD report states. Additionally, hemp can be an effective part of crop rotation, which can help maximize the use of land and contribute to increased incomes for farmers.

Hemp for animals and livestock continues to be an argued topic. While hemp as animal feed could reduce stress in cattle, a recent research study showed that it found THC in the systems of cows who ate hemp feed. In September, the state of Idaho halted the sales of CBD pet supplements because “Safe levels of hemp and hemp-derived products in animal feed have not yet been established under federal or state law,” the State Department of Agriculture said.

The post Industrial Hemp Market to Hit $18.1 Billion in Five Years appeared first on High Times.

The post Industrial Hemp Market to Hit $18.1 Billion in Five Years appeared first on Paradise Found.

States that have legalized recreational cannabis sales for adults collectively generated more than $3.7 billion in revenue last year, according to a new report from the Marijuana Policy Project.

The findings, released on Wednesday, amount to a 34% increase in revenue from adult-use sales compared to 2020 –– continuing an upward trajectory dating back to 2014, when recreational pot sales began in Colorado and Washington, the first two states to end prohibition on pot use for adults.

Today, 18 states have legalized adult-use cannabis sales. The latest report from the Marijuana Policy Project was based on sales figures from the 11 states that had licensed pot retailers open for business in 2021.

The total revenue tally of $3,715,994,252 does not include medical cannabis sales.

Toi Hutchinson, the president and CEO of the Marijuana Policy Project, said that the latest report provides “further evidence that ending cannabis prohibition offers tremendous financial benefits for state governments.”

“The legalization and regulation of cannabis for adults has generated billions of dollars in tax revenue, funded important services and programs at the state level, and created thousands of jobs across the country. Meanwhile, the states that lag behind continue to waste government resources on enforcing archaic cannabis laws that harm far too many Americans,” said Hutchinson, who left her post as a senior cannabis adviser to Illinois Gov. J.B. Pritzker late last year to take the helm at the advocacy organization.

The Marijuana Policy Project provided state-by-state revenue totals for last year’s recreational cannabis sales, with California raking it the most by far:

    •    Alaska: $28,900,231 

    •    Arizona: $153,824,757

    •    California: $1,294,632,799 

    •    Colorado: $396,157,005

    •    Illinois: $424,206,703

    •    Maine: $12,362,622

    •    Massachusetts: $227,474,842 

    •    Michigan: $209,912,278 

    •    Nevada: $159,885,501

    •    Oregon: $177,773,944 

    •    Washington: $630,863,570

Last year’s revenue total represented a big jump from 2020, which saw $2,766,027,570 in recreational pot revenue generated. And that represented a significant increase from 2019, when there was $1,707,204,090 in revenue brought in.

According to the Marijuana Policy Project, “states reported a combined total of $11.2 billion in tax revenue from legal, adult-use cannabis sales since 2014 when sales began in Colorado and Washington state.”

As the group explained, “states with legal, adult-use cannabis sales, tax revenues can be allocated for social services and programs,” which can include “funding education, school construction, early literacy, public libraries, bullying prevention, behavioral health, alcohol and drug treatment, veterans’ services, conservation, job training, conviction expungement expenses, and reinvestment in communities that have been disproportionately affected by the war on cannabis, among many others.”

“Legalizing cannabis for adults has been a wise investment…In addition to revenue generated for statewide budgets, cities and towns have also generated hundreds of thousands of dollars in new revenue from local adult-use cannabis taxes,” the Marijuana Policy Project said in its analysis.

One state that will be included in next year’s report will be New Mexico, which just launched adult-use cannabis sales last week.

The state reported more than $3 million in recreational pot sales in the opening weekend.

New Mexico Gov. Michelle Lujan Grisham has touted legalization as a potential economic driver for the state.

“As we look to rebound from the economic downturn caused by the pandemic, entrepreneurs will benefit from this great opportunity to create lucrative new enterprises, the state and local governments will benefit from the added revenue and, importantly, workers will benefit from the chance to land new types of jobs and build careers,” Lujan Grisham said last year after signing the legalization bill into law.

The post States Made More Than 3.7 Billion in Recreational Pot Sales Last Year appeared first on High Times.

The post States Made More Than 3.7 Billion in Recreational Pot Sales Last Year appeared first on Paradise Found.

Most financial leaders in cannabis don’t trust the Biden administration, new data suggests. On December 14, GreenGrowth CPAs announced the cannabis industry’s first 2021 Cannabis CFO Survey—a 22-page analysis containing business and market outlook data from over 75 cannabis industry CFOs, CEOs, founders, controllers and other financial roles in 20 markets across the United States. 

The report showed a lack in confidence about commitment on federal cannabis reform from President Joe Biden’s administration, and it provided some fascinating details of how people in financial roles in the cannabis industry differ in opinion from members of other industry sectors. 

Financial leaders were asked their perspective on the cannabis business environment, progress recovering from the COVID-19 pandemic and outlook on raising capital and assessing the potential impact of the Biden administration. “The answers were volunteered by financial leaders throughout the cannabis ecosystem,” GreenGrowth CPAs Chief Marketing Officer Kristofer Lenz told High Times. “We sent emails to our internal distribution list ([over 40,000] mix of clients, prospects and folks who signed up for our newsletter), posted on social media and conducted personal outreach to industry partners who also shared within their networks.”

Notably, over 62 percent of respondents doubt support from the Biden administration. Specifically, President Biden doesn’t have a great track record on cannabis like most other members of the Silent Generation. White House Press Secretary Jen Psaki reaffirmed last July that President Joe Biden opposes cannabis legalization—putting him at odds with top Democrats such as Senate Majority Leader Chuck Schumer and Senator Cory Booker.

GreenGrowth CPAs provided four highlights from the 2021 Cannabis CFO Survey:

• 70.2 percent of cannabis operators feel the cannabis business environment is improving (but only 28 percent of cultivators agree)
• 18.2 percent of operators are stronger financially today than before the COVID-19 pandemic
• 79.2 percent of operators are planning to raise capital, 19.5 percent through an IPO/RTO go-public transaction
• 62.4 percent don’t think the Biden Administration supports cannabis, and 41.6 percent think we are 5+ years away from federal legalization

One problem is the difference in opinion between how cannabis operators in general feel about the health of the cannabis business environment compared to cultivators in particular. While over 70 percent of operators believe the cannabis business environment is improving, just 28 percent of cultivators agree. 

“In the last six months, wholesale prices have absolutely plummeted due to oversupply, lack of demand, a lot of other issues, and you can really see in the data, the impact it’s having,” Lenz explained. “There is the East and West divide. Essentially we’re going through this sort of peak and valley evolution in the market. When new markets come online, there’s a lot of pent-up demand, a lot of licenses.”

Lenz explained the difference between newer and older state markets. “So there’s Illinois, Massachusetts, in these sort of newer markets, where the wholesale price is high, demand is really high, and this vision of cannabis capitalism—as people are imagining it—is really thriving,” he said. “But in more states that are older, we’re seeing a valley form. It’s actually happening in Colorado, California, especially where the more and more cultivators come online, the more sophisticated those cultivation opportunities are, the more flower is hitting the market, but the demand is not necessarily catching up.”

This could be perhaps due to the “collapse” of the wholesale value of cannabis crops in California, partly due to sky-high taxes, fees and light-deprivation weed. Growers in the Emerald Triangle in Humboldt, Mendocino and Trinity Counties, for instance, are calling this an “extinction event.”

The insights in the 2021 Cannabis CFO Survey were self-reported a blend of multi-state operators, retailers, cultivators and ancillary service providers throughout the cannabis industry. The report is free for download at the GreenGrowth CPAs website.

The report shows the amount of distrust with the priorities of the Biden administration among financial leaders in the industry. Keep in mind, however, that no president can directly remove cannabis from control under the Controlled Substances Act, but he could, however, order executive agencies to consider either altering the classification of cannabis or change their enforcement approach.

The post Majority of Cannabis CFOs Think Biden Doesn’t Support Cannabis appeared first on High Times.

The post Majority of Cannabis CFOs Think Biden Doesn’t Support Cannabis appeared first on Paradise Found.