TOP 5 Cannabis Trends This Month:
🍄 More and more US states are opening up to psychedelics. In the next few years we could see possession charges for psychedelics dropped in many states and many more comprehensive studies published on how they truly affect us.
🤑 Canadian cannabis sales in 2020 hit $2.6 billion. This is more than double the 2019 value.
💵 In April, Michigan cannabis sales increased 149% from a year ago to $153.8 million, a 5% increase from March. So far in 2021, sales are up 171% from last year.
🍃 The MORE Act has once again been introduced to congress. Previously the house passed the bill with a large majority but the senate is never a sure bet as they have a more conservative stance to cannabis.
📈 Cannabis MSO’s have been performing very well in the last quarter. This once again proves that cannabis is one of the fastest growing industries in the US.
Just a week ago, Alabama Governor Kay Ivey signed medical marijuana legalization. The bill got passed with a vote of 21-8 in the senate and 68-34 in the house. This bill will give thousands of people in Alabama access to cannabis that are seeking relief from terminal illness, depression, epilepsy, panic disorder and chronic pain.
The Texas Senate has approved House-passed bills to reduce criminal penalties for possessing marijuana concentrates. This bill will also require the state to start studying the affects and potential uses of psychedelics such as psilocybin and MDMA. This is a big step in cannabis and psychedelic decriminalization.
Senate Finance Committee Chairman Ron Wyden commented this past week “When marijuana is federally legalized, it should be normalized in global commerce with U.S. trade representatives advocating for domestic cannabis business interests.”
Wyden believes that cannabis should be represented by U.S. trade officials after federal legalization, as 1 in 4 jobs revolve around international trade.
After 50+ years, the federal government is lifting a roadblock to cannabis research that scientists and advocates say has hindered rigorous studies of the plant and possible drug development.
Since 1968 cannabis researchers could only use cannabis from one site, at the University of Mississippi. "This is a momentous decision, this is the last political obstruction of research with Schedule 1 drugs" says Rick Doblin, executive director of the Multidisciplinary Association for Psychedelic Studies.
This move will surely accelerate the understanding of the plant's health effects and possible therapies for treating conditions.