Higher Education: The Barstool Cannabis Edition
NEW YORK IS LEGAL!
Just In: Dave Portnoy and Barstool sports reached out to us last week in hopes of starting their own brand starring two featured strains called Stoolie and The Porcelain Picasso.
The real update, we had to turn them down, due to their terpenes smelling like your local restaurant’s bathroom and their questionable ethics.
TOP 5 Cannabis Trends This Month:
📈 New York has just legalized recreational cannabis! Yearly revenue projections by their 4th year are expected to be around $2.5 billion.
💰 State and local cannabis tax revenue jumped 58%, surpassing $3 billion in 2020.
🤑Cannabis companies are expecting to see a boost in sales when the 3rd stimulus checks get released. There was big jumps in sales the first two rounds.
🧾The house will once again reintroduce the SAFE banking act. Cannabis legalization is a high priority at the moment, and things can change quickly now that the democrats have slim control of congress.
🍃 Cannabis innovation is at an all time high, with more and more creative products being made every day. For example, pharmaceutical chemists are creating cannabis-based pills and drinks for U.S. Food and Drug Administration approval. Yet, through all this innovation, flower is still king.
✌️Honorable Mention: Don’t sleep on other functional vices. Our studio brand Yerb which focuses on natural forms of caffeine, was launched last week. Through an IPO [initial product offering] we introduced a first of its kind physical beverage backed by a digital asset [NFT] and it sold out in 4 days!
The agreement to legalize recreational cannabis was signed last Wednesday! This bill will allow New Yorkers to posses 3 ounces of cannabis. With this said, it is projected to take around 18 months until the first recreational sale gets made.
The state will immediately start eliminating some criminal charges related to cannabis. Melissa Moore, New York state director of the Drug Policy Alliance, said. “By placing community reinvestment, social equity, and justice front and center, this law is the new gold standard for reform efforts nationwide.”
Mexico, the country that has been in a drug was for decades has finally legalized recreational cannabis. More than 3 years ago, the country legalized medical cannabis, and now they have ruled the ban on recreational cannabis as unconstitutional. The bill allows adults to posses and grow small amount of cannabis, and also opens up licensing to producers.
This could be a big step in federal legalization for the U.S. as well. “Mexico, given its size and its worldwide reputation for being damaged by the drug war, to take this step is enormously significant,” said John Walsh, director of drug policy for the Washington Office on Latin America, a U.S. advocacy group. “North America is heading toward legalization.”
Recreational cannabis delivery is finally ready to launch in Colorado. With this said, the only city in Colorado that currently has delivery set up is Aurora, with Denver getting the green light in July. Expect delivery to come at a premium, but prices to slowly decrease as more and more competitors come into the space. This is a big step forward to what we see being “the new normal.”
Vermont is currently the only state that has a cap on the amount of THC potency that can be sold. Flower can not be higher than 30% THC and concentrates cannot be sold higher than 60%. 6 new bills have recently been pushed by cannabis opponents to try and force THC level caps on Florida, Massachusetts, Montana and Washington.
Chris Lindsey, director of government relations at the Washington DC-based Marijuana Policy Project said that THC caps were “terrible policy” and they could actually create a large illicit market for higher potency cannabis.