WeedLife News Network

Switzerland has given the green light to develop a comprehensive national framework for cannabis in the country.

It’s easy to get excited about the cannabis industry when you hear that legal cannabis sales in the U.S. grew 30 percent in 2020 to a whopping $22 billion, outpacing the $17.5 billion spent on wine. If you’re a savvy, experienced businessperson, you might mistake that kind of booming market with an opportunity to turn a quick profit.

But there are a few aspects of operating a business in the cannabis industry that are dramatically different from running a typical business. Here are three hard truths about cash flow that people need to understand before even considering launching a cannabis business.

Hard Truth 1: You Need Considerable Liquid Funds to Start and Operate a Cannabis Business

Arkansas sees another campaign to potentially legalize cannabis in the state. Advocates hope this spells the end of state-wide prohibition.

A group headed by a former Arkansas lawmaker has joined the charge to reform cannabis policy in the state by organizing a group to campaign for a constitutional amendment to legalize recreational marijuana. Eddie Armstrong, a former Democratic state representative from North Little Rock, is listed as the chair of the organization Responsible Growth Arkansas in a filing with the Arkansas Ethics Commission submitted on October 15.

The text of the proposed constitutional amendment had not yet been filed with the office of the Arkansas Secretary of State as of the beginning of the week. The group’s statement of organization, however, notes that the organization will “advocate for the passage of an amendment to the Arkansas Constitution to allow the regulated sale of adult-use cannabis in the state,” according to media reports. 

In an email to reporters, Armstrong wrote that more details of the proposed constitutional amendment to legalize recreational cannabis will be released in the upcoming weeks.

Medical Marijuana Legalized in 2016

Arkansas voters legalized medical marijuana in 2016 with the passage of Issue 6, a constitutional amendment ballot measure that received 53 percent of the vote. Under the Arkansas Medical Marijuana Amendment, patients can receive a doctor’s recommendation to possess up to 2.5 ounces of cannabis for the treatment of one or more qualifying medical conditions.

Medical marijuana dispensaries began serving patients in 2019. However, statutory limits on the number of cannabis cultivators and retailers could soon leave patients with an inadequate supply of medicine, says medical marijuana advocate Melissa Fults.

A new set of studies aims to explore how weed affects people from diverse communities, including queer and trans folks

Between the legalization of cannabis in late 2018 and the onset of the COVID-19 pandemic in early 2020, the amount of cannabis Canadians are using is increasing. At the same time, a greater emphasis has been put on mental health as people cope with the loss, isolation and hardship of the pandemic. Yet there are still many gaps in our knowledge of how cannabis use affects our mental health, and debate abounds over whether it is an effective coping tool or a harmful crutch. 

Within the research that does exist, people from diverse communities are under-studied and under-represented, especially LGBTQ2S+ people. To better understand the unique relationship these communities have with cannabis use and mental health, the Mental Health Commission of Canada (MHCC)—in partnership with the Canadian Institute of Health Research, the Canadian Consortium for Early Intervention in Psychosis, the Schizophrenia Society of Canada Foundation and Veterans Affairs Canada—has funded a series of year-long research projects.

“I’m hoping we can really expand the conversation about the relationship between cannabis and mental health, so it’s not just all negative,” Bartram says. “It’s important not to close the door on the possibility of benefits, while at the same time not being naive about risks.” 

While we wait for the studies’ results, here’s what you need to know about the relationship between cannabis and mental health, and the unique needs of diverse populations. 

In about one year — by October 2022 — Vermont's retail cannabis market is scheduled to go into place, and the state's Cannabis Control Board has already made some key decisions that will shape Vermont’s legal marijuana marketplace.

VPR’s Mitch Wertlieb spoke with senior political correspondent, Bob Kinzel. Their conversation has been edited and condensed for clarity.

Mitch Wertlieb: In one of their earliest and most important decisions, the board has decided to prioritize small marijuana growers, and why are they doing this in particular?

Bob Kinzel: Mitch, they're really doing this at the direction of the Legislature, and I think it might be one of the most important decisions that they've made, because it has a rippling effect on many aspects of this issue.

In about one year — by October 2022 — Vermont's retail cannabis market is scheduled to go into place, and the state's Cannabis Control Board has already made some key decisions that will shape Vermont’s legal marijuana marketplace.

VPR’s Mitch Wertlieb spoke with senior political correspondent, Bob Kinzel. Their conversation has been edited and condensed for clarity.

Mitch Wertlieb: In one of their earliest and most important decisions, the board has decided to prioritize small marijuana growers, and why are they doing this in particular?

Bob Kinzel: Mitch, they're really doing this at the direction of the Legislature, and I think it might be one of the most important decisions that they've made, because it has a rippling effect on many aspects of this issue.

So, let's start with, what's a small grower. The board defines this as an indoor operation that's no larger than 1,000 square feet.

Producing and distributing pot in Grover Beach is about to be more pocket-friendly thanks to a new drop in commercial cannabis tax.

The Grover Beach City Council unanimously greenlit the plan at its Oct. 25 meeting to attract businesses in the cannabis industry to the beach city. Grover Beach's cannabis industry has been expanding ever since its first legal marijuana business opened in May 2018. In fiscal year 2020-21, the city raked in $2.4 million in cannabis revenue. It's a major leap from the $16,359 the fledgling industry generated that first year.

Thirteen people, including four former law enforcement officers, a prosecutor and a former selectman, have been charged in a conspiracy to use medical marijuana grow houses in western Maine to illegally sell $13 million of the drug in and out of Maine.

Court documents in the case were made public Wednesday in U.S. District Court in Bangor after one of the defendants pleaded guilty to conspiring to possess and distribute more than a ton of marijuana and 1,000 marijuana plants.

The documents detail a far-reaching scheme in which the head of the conspiracy, 41-year-old Lucas Sirois of Farmington, allegedly gave cops ownership interests in his company and brand new “company” cars in exchange for confidential information that he used to benefit his business. He also learned about the federal investigation into his illegal business dealings through the officers’ networks, according to the documents.

A former Rangeley selectman is also implicated, accused of accepting cash payments from Sirois in exchange for advocating for his agenda, including a vote to advance a marijuana ordinance Sirois had drafted to a town referendum.

The defendant who pleaded guilty is Randal Cousineau, 69, of Farmington, who admitted that he participated in a conspiracy to illegally cultivate and sell marijuana from 2016 to July 2020. Cousineau was the primary financier and 50 percent partner in an illegal marijuana cultivation facility in Farmington, according to court documents. He also held an interest in an illegal marijuana distribution company.

Attorney Advises Businesses To Heed The Warnin

Some seven months after former Governor Andrew Cuomo signed recreational marijuana into law, New York cannabis regulators are still figuring out which rules and guidelines are needed to make this complex program function properly. (Article orginally appeared on Benzinga by Nina Zdinjak)

Just last week, the Cannabis Control Board proclaimed marijuana gifting to be illegal, writes WSKG. 

Tremaine Wright, former state Assemblymember who leads the regulatory body for the state’s cannabis industry addressed the increasingly popular cannabis gifting activity. 

“There is no gray market in New York state,” Wright said. “This conduct is not legal and must stop. Individuals who do not cease run the risk of severe financial penalties.”

HempSol CBD Gets The Ball Rolling 

In September, the Rochester-based HempSol CBD hit the headlines for giving away an eighth of an ounce of cannabis with the purchase of a $65 T-shirt. At the time, the shop owner said the promotional “gift” was legal under the state’s adult-use cannabis law, which allows for adults to gift each other up to three ounces of marijuana. 

Every year, we hear the same old myth about laced Halloween candy. But it’s just that—a myth, not a truth.

With every Halloween that passes, articles and news coverage warning parents about finding cannabis-infused edibles in their kid’s candy bags are revived. The fact is that these warnings and tall tales, while issued with good intentions, are simply not rooted in truth.

A new Snopes article dug into the myths and origin of this annual charade. While the first state to legalize medical cannabis was California in 1996, cannabis-infused edibles were largely produced as baked goods. At the time, perfecting the art of an infused gummy bear or other recognizable candy was not yet the norm. Snopes ascertains that the topic began to gain attention around 2010, when medical cannabis candies were being advertised in newspapers and other print media. 

Scare-tactic stories have real-life consequences. The Los Angeles Times reported that law enforcement confiscated cannabis-infused candies from dispensaries on October 30, 2010. 

University of Delaware Professor of Sociology and Criminal Justice Joel Best recently spoke with Fox News regarding his thorough research on the topic. 

“My research stretches back to 1958,” Best shared with Fox News. “I have been unable to find any evidence that any child has been killed or seriously injured by a contaminated treat picked up in the course of trick-or-treating.” 

The U.S. Postal Service (USPS) has officially banned the mailing of vaping products — and that includes cannabis, as well as federally legal CBD vapes and nicotine.

The agency announced the final rule on Wednesday to comply with legislation passed last year to stop nicotine vapes from being shipped through the U.S. mail.

While the law bans "electronic nicotine delivery systems," it defines them broadly as "any electronic device that, through an aerosolized solution, delivers nicotine, flavor, or any other substance to the user inhaling from the device."

"It goes without saying that marijuana, hemp, and their derivatives are substances," the agency said, as reported by Marijuana Moment. "Hence, to the extent that they may be delivered to an inhaling user through an aerosolized solution, they and the related delivery systems, parts, components, liquids, and accessories clearly fall within the [Preventing Online Sales of E-Cigarettes to Children Act's] scope."

There are exceptions: vapes can be shipped within the states of Alaska and Hawaii, verified businesses can mail vapes to each other or to government agencies, and individuals can ship up to 10 electronic nicotine delivery systems for non-commercial use per 30 days.

Cannabis cultivators in the mountains of Northern California’s Emerald Triangle, which is the heart of marijuana production in the U.S., are off the grid. But one of the country’s largest propane gas providers, AmeriGas, happily supplies growers with 1,000-gallon containers of propane to fuel their operations.

Cannabis has been legal for recreational use in California for nearly five years. From delivery services and storefront dispensaries to the state’s first marijiuana competition, California residents can enjoy their herb medicinally, recreationally and freely — to an extent.

While weed is legal in the state, there are limitations and penalties for some.

Also of note: Individuals 18 and older can qualify for medicinal marijuana. Minors qualify in few situations. Otherwise, you need to be 21 plus.

For example, Proposition 64, the Adult Use Marijuana Act, only allows adults 21 years old and over to possess and grow marijuana for recreational use. Those under 21 who are caught with weed that is not medically licensed can face fines, mandatory drug education or counseling and community service.

Other ways you can get in trouble with the state for having weed include the following:

New York state employers will no longer be allowed to test employees for cannabis, according to new regulations released by the state Department of Labor.

This makes New York the first state in the country to prohibit employers from testing both current and prospective workers.

In other states where marijuana is legal, there are laws that ban employers from penalizing workers who test positive, but this is the first regulation to explicitly prohibit workplace testing for cannabis altogether.

You can add Nevada to the list of states that have surpassed more than $1 billion of medical and recreational cannabis sales over a one-year period (according to state officials) and we consider this to be a milestone for the US market. (as originally appeared on technical420.com)

Lil’ Kim just announced an exciting new cannabis partnership with California cannabis brand superbad inc. and tech platform CampNova.

Hip-hop legend and fashion icon Lil’ Kim is the latest celebrity to enter the cannabis fray. Partnering with California pot brand superbad inc. and tech platform CampNova, the Brooklyn native joins the marketplace and a growing list of celebrity brands aiming to stake their claim in the booming cannabis game.

In addition to personal market success, Lil’ Kim and her business partners hope to inspire more Black and female entrepreneurs to join the industry as business leaders.

The global cannabis market was Valued at USD 22. 10 billion in 2020. The market is projected to witness a CAGR of 13. 9% during the forecast period (2021-2026). Like every other market, COVID-19 had an adverse impact on the cannabis market as well.

New York, Oct. 27, 2021 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Global Cannabis Market - Growth, Trends, COVID-19 Impact, and Forecasts (2021 - 2026)" - https://www.reportlinker.com/p06155696/?utm_source=GNW