WeedLife News Network

Legal marijuana entrepreneurs are finally starting to win the battle against a long-time enemy—the illicit market. For years, black market operators have undercut cannabis prices and taken away part of the cannabis market share.

But a new study has found that the coronavirus epidemic has accelerated the long hoped for reduction in the illegal market. The legal market has especially taken away business from Mexican drug cartels, according to a report from the Congressional Research Service.

That means the legal cannabis industry is not just supplying U.S. consumers a safer, regulated weed market. It’s also keeping people away from the black market and products from Mexican drug trafficking organizations “that pose the greatest crime threat to the United States,” according to the report.

Positive impact 

The findings of the report might seem somewhat ironic to those in the cannabis business. After all, cannabis remains illegal at the federal level, where it’s listed as a Schedule I  drug on par with cocaine and heroin. But this federal report shows how much legal cannabis has helped curtail the purchase of illegal weed from south of the border.

The report states that authorities on both sides of the 2,000-mile-long border project a “continued decline” in U.S. demand for Mexican marijuana. They write that this is partially “due to legalized cannabis or medical cannabis in several U.S. states and Canada, reducing its value as part of Mexican trafficking organizations’ portfolio.”

August was a fantastic month for the broad market indexes. That wasn't the case for the cannabis sector, though. Two of the biggest cannabis-focused exchange-traded funds (ETFs) were down last month.

But there were some notable outliers. The three best-performing marijuana stocks in August delivered sizzling returns of 40% or more during the month. Here are those high-flying stocks -- and whether or not they're smart picks to buy now.

It wasn’t that long ago that there was a spike in health issues reported in multiple countries, with the culprit causing the issues reportedly being cannabis vape pen cartridges.

Cannabis vape pen cartridges grew in popularity at an exponential rate in recent years, and for good reason.

Much of the increased popularity is due to vape pen cartridges being convenient, discreet, and for many consumers and patients they are effective at providing the desired effect.

Another major factor contributing to the exponential growth in popularity is the increased availability of vape pen cartridges in legal markets. 

Unfortunately, that increased availability in legal markets has been paralleled by an increase in the availability of unregulated cartridges in illegal jurisdictions.

CannaCon the seminal cannabis convention is coming back to Oklahoma City Monday, September 28 to Tuesday, September 29 at the Cox Convention Center.

With over 100 exhibitors showcasing some of the best products in the industry including world class genetics, the latest in packaging, and the latest in extraction equipment, you will find everything you need to grow your cannabis business. CannaCon is dedicated to supporting emerging markets, and Oklahoma is home to a quickly growing medical cannabis industry.

Pesticides can be found on pretty much anything that’s grown these days. There’s an ongoing battle brewing regarding the dangers of these sprays to human health, with a growing collection of evidence in the negative category. Where does cannabis fit into all this? And what can you expect to have sprayed on your buds?

As with many topics in life, there is no official consensus on the safety/dangers of pesticides, especially when it comes to cannabis consumption, but the growing bank of literature expressing dangerous outcomes is hard to ignore. Nor is there a consensus on how much should be used, though the idea of needing to establish this is a strong indicator for the understanding of their collective dangers.

There aren’t consistently used ways to test for them, or even consistent regulation on what exactly is being tested for in order to establish the pesticide content. There isn’t a consensus on which pesticides are okay and which are not. One of the only things to be sure of, in fact, is that there’s probably something sprayed on your flowers, it might not be good stuff to have sprayed on your buds, and there could be a lot of it there.

Pesticides in the USA

In the US, the US Environmental Protection Agency (EPA) regulates pesticide use in agriculture with local governments overseeing the process. This accounts for any legally grown form of agriculture. Cannabis presents an issue in that it’s still federally illegal, apart from industrial hemp which technically is not intended for consumption.

This means there are no pesticides officially approved for use on cannabis for human consumption, and no official conversation about it at all. This also means there’s no official information being put out about safe levels of pesticide resins in products (if such a level exists). All states in the US that have legalized, have had to come up with their own regulatory systems, and without all the testing generally available on a federal level.

As of yet, all the legalized states have different policies, which means smoking cannabis, or using cannabis products, in/from these states would dictate different levels of regulatory safety.

As the West Coast matures from the early Green Rush and Midwest markets like Michigan and Illinois hit their stride with recent legalization, all eyes are on the Northeast as the sleeping giant that will radically change the national cannabis landscape for 2021 and beyond. Among the 40 million-plus residing in the tri-state area between New York, New Jersey, and Pennsylvania, the East Coast offers a monumental competitive advantage with substantial opportunities for new players to make their mark as soon as the industry is given the green light to move forward—which is only a matter of time.

 “There is no question that a lot of states that were sitting on the fence on adult-use legalization will now turn to it as they look for tax revenues,” says Joe Bayern, President of CuraLeaf (OTC:CURLF). 

Bayern points to New Frontier Data that estimates that if marijuana were legalized today, roughly 782,000 new jobs would be created, estimated to grow to 1.1 million by 2025. Federal legalization, it is estimated, would generate $131.8 billion in federal tax revenue between 2017-2025.”

While most are hedging their bets on Pennsylvania’s impending recreational legalization, industry insiders know that the real story is happening in New Jersey. According to a recent Clarus report, Pennsylvania is expected to continue building on its rapid growth that has contributed to TerrAscend’s (OTC:TRSSF) foothold as one of the fastest organic revenue growth rates in the U.S. cannabis sector thanks to the strength of its Ilera unit in Pennsylvania (PA). However, New Jersey is the market with a promising outlook as the key revenue driver over the next two years.

 “Due to population density, overall population size and a prospective turn toward adult use, I think New Jersey and Pennsylvania present some of the strongest prospects in the East for sustained levels of growth,” says Greg Rochlin, CEO of Ilera Healthcare. “Given TerrAscend’s high capacity, professional operations and team in the East Coast, we are well positioned to serve our patients and communities with research-based education and high quality, consistently produced products, in compliance with the state-based regulatory guidelines.”

The investor landscape in cannabis keeps evolving. Big-name investors with deep pockets fairly recently caught on to the potential of fast-growing cannabis companies, opening up the possibilities for funding expansions or making changes to the business.

At the same time, high valuations dropped toward the end of 2019 and several companies reported layoffs and course corrections to finish out the year.

With valuations being less speculative in nature and larger and perhaps savvier investors becoming more active in this space, how can your company grab and hold their attention?

Some cannabis marketers look down on digital advertising, preferring the idea of building their brands without having to pay for clicks. Others believe that digital cannabis advertising isn’t even allowed.

Both notions are incorrect. First, brands that use digital advertising will be seen by many more eyeballs than purely organic marketing. Second, many forms of digital cannabis advertising are legally compliant in any state, and in some ways, these ads are actually less restrictive than the traditional advertising methods brands have frequently pursued instead. 

While advertisers and Hollywood-types have consistently focused on millennials and Gen-Z over the past few years, it turns out that the cannabis industry may want to turn its attention to another group of potential consumers — senior citizens. According to a report from NBC news, baby boomers in the United States, especially men, have seen their cannabis use rise in the past few years. 

According to NBC News, the numbers come from a new report out in the Annals of Internal Medicine, reflecting changing attitudes towards the drug throughout the United States. The study’s co-author Bill Jesdale, an assistant professor of population and quantitative health science at the University of Massachusetts Medical School in Worchester, told NBC News that more people are accepting of and open to using cannabis now more than ever.

According to Jesdale, cannabis use among older adults is not only increasing in states where the drug is legal, but it is also on the rise in states where prohibition is still in effect.

“It seems that something has happened to the country as a whole,” Jesdale told NBC News.

Jesdale’s study collected survey data from a three year period from 2016 to 2018. According to the report, researchers reviewed cannabis use in over 170,000 adults over the age of 55; two lived in 19 different states and two territories throughout the country. The results found that men between the ages of 60 and 64 were more likely than most to use marijuana. In fact, according to the study, over 12 percent of men in that age bracket used cannabis in the past 30 days when asked in 2018, which was up from around 8 percent who did so in the same period when asked in 2016.

What Will These Pot Stocks to Watch Look Like in the Long Term?

The governor’s comments join a fierce opposition wave against medical marijuana legalization in Nebraska.

A voter-approved initiative to legalize medical cannabis in Nebraska will appear on the November ballot, but marijuana shouldn’t even be labeled a medicine, according to Gov. Pete Ricketts. The comments represent a fierce opposition emerging in Nebraska against legalization.

“There is no such thing as medical marijuana,” Ricketts said at a press conference Monday. “This is not something that would be prescribed by a doctor. It’s not going to be distributed through a pharmacy. These are dispensaries that would be in your communities.”

Ricketts has spoken out against medical cannabis on multiple occasions and claimed that in legalized states, people “show up to work stoned” and cause a greater number of accidents.

“This is not a benign thing, this is a dangerous thing,” he added.

America’s decades-long war on drugs disproportionately harmed minorities. Now, it seems that decriminalization of marijuana hasn’t leveled the playing field.

Black men are 12 times more likely than white men to spend time incarcerated in the United States. College enrollment for black men has declined since the 1986 Anti-Drug Abuse Act went into effect.

I am a scholar of public policy. In my book, “From Criminalizing to Decriminalizing Marijuana: The Politics of Social Control,” I aim to provide a historic overview of marijuana legislation and its impact on minorities.

Unequal easing

Today, some drug laws related to marijuana are easing. Twenty five states have introduced decriminalization reforms, with 11 states allowing adult recreational use. Such reforms directly impact adults 21 years of age and older, but they also have indirect effect on younger Americans.

Even though marijuana is still illegal for people under 21, evidence is emerging that decriminalization is increasing the number of kids who consume weed illegally.

Although California is viewed as a liberal paradise – especially regarding cannabis laws – the way this state regulates CBD is still incredibly limited and regressive.

California has the oldest and largest legal cannabis market in the world. Medical marijuana has been legal in the state for 24 years now, recreational is legal, and you can easily find flower and other high-THC products in most localities. However, when it comes to CBD (cannabidiol), California dispensaries need a special license to sell hemp flower, it’s illegal to infuse CBD in edibles, and a bill is on the table that would prohibit anyone under 21 years old from buying any it.

Why the discrepancy when CBD is non-psychoactive and federally legal?

Over two decades of medical marijuana

Back in 1996, the Golden State became the first to legalize the use of medical marijuana. It was uncharted territory, and putting Prop 215 – The Compassionate Use Act, into practice would be no easy task; but the main objective was “to ensure that seriously ill Californians have the right to obtain and use marijuana for medical purposes in the treatment of cancer, anorexia, AIDS, chronic pain, spasticity, glaucoma, arthritis, migraines or any other illness for which marijuana provides relief.”

And the bill really meant ANY illness. This drew a lot of criticism, with many lawmakers believing that cannabis should only be prescribed for a very limited list of predetermined conditions. However, lawmakers are not doctors or scientists and are in no position to make assumptions on the therapeutic potential of cannabis. Questions of medication, treatments, and prescriptions should handled by healthcare practitioners and their patients.

The last two decades have brought bi-racial athletes, politicians, scientists, entrepreneurs, and more to the forefront. On August 19th we nominated Senator Kamala Harris, the first Vice President of Jamaican and Indian heritage. There is an excitement in the air, young women see themselves in Kamala Harris and think "If she can, I can". Which brings us to our interview with Socrates Rosenfeld, his father is a Greek Cypriot, his adopted stepfather is Jewish American and his mother grew up in Indonesia, of Egyptian and Sumatran roots.

I would say Socrates is the International Food Court of genetics. Socrates is the CEO of  Jane Technologies, Inc., a retail software company that created the leading online cannabis marketplace, has announced the launch of two new e-commerce modules designed to deepen brand relationships with consumers while promoting local dispensary sales. When I first met Socrates and Howard Hong up in San Francisco over 4 years ago, I saw two young men who "had it", I saw the future of Asian Americans in cannabis and who was going to lead the way in innovation and entrepreneurship.  Rosenfeld's career started in the US Army and he left with the rank of Commander, to the world of finance.

Rosenfeld's heritage I believe gave him the skills to build bridges wherever he went and to build businesses that encapsulate that multicultural heritage. It is my honor to present our Q&A with Socrates Rosenfeld, CEO of Jane Technologies.

As a child of two cultures, how did you navigate your place in the world by using that duality? (This question is about children who come from parents with diverse backgrounds and cultures, as in Tiger Woods, Kamala Harris, Colin Powell who had Jamaican and Scottish ancestry)

Socrates Rosenfeld: Growing up in a multicultural home with generations of mixed heritage, I came to understand that connection transcends language, race, or religion. I didn't have to travel around the world to be exposed to different cultures -- they were under my roof. Indonesian, Greek, American, Muslim, Christian, Jewish, and even Atheist. Naturally, there were clashes, but ultimately everyone was able to connect on the commonalities that tie us all together as human beings.

I am fortunate to live in a state that recognizes, to a degree, the medical benefits of cannabis (marijuana).  It effectively eases my  symptoms, unlike any of the various side-effect-laden, addictive drugs prescribed for my conditions.

The program, however, is falling short of its potential.

The two Compassionate Care Centers in Sussex have severe supply problems that limit their effectiveness for patients.  They too often have none of the product that a patient relies on, be it dried cannabis flower, concentrates, or edibles.  One of the two centers rarely has THC-containing product other than on their weekly delivery day; the other is more reliable but runs out at times during the day.  The product availability within categories is inconsistent. 

Cannabis varieties are known as strains; strains differ in their cannabinoid and terpene components (it’s not all about THC) and have very different effects and efficacy.  Patients learn which strains help them - it’s a wonderful discovery! 

The problem is that the availability of the strains at the CCCs is hit or miss; we often have to experiment or settle for a suboptimal medicine.  There are also differences in product offerings across CCCs.  Patients often must visit multiple centers to obtain the products they need.  Imagine having to visit one pharmacy for antibiotics and a different one for cough medicine.

Indonesia made a splash when a decree from earlier this year declaring cannabis a “medical plant” in the eyes of the government officially got on the public’s radar. Now, the Agricultural Ministry in Indonesia is revising this decree, as cannabis is still illegal in Indonesia with no legalization in sight. 

The proclamation originally went viral via an Instagram post from the Nusantara Marijuana Network (LGN), a group that fights for cannabis legalization and advocacy in Indonesia. According to this degree, cannabis has been considered a medical plant since 2006 by the federal government; this just hasn’t necessarily been public knowledge.

“The decree will be revised soon, after we coordinate with the National Narcotics Agency [BNN], the Health Ministry and the Indonesian Institute of Sciences [LIPI],” the ministry’s vegetable and medicinal plant director, Tommy Nugraha, said in a statement on Saturday. “Marijuana’s inclusion on the medicinal plant list means that it can only be used for research, as stipulated in Article 67 of Law No. 13/2020 on horticulture. Currently, we record no legal marijuana farmers in Indonesia.”

Thus, the “medical plant” designation is very ironic, considering the strict laws against cannabis Indonesia still clings to and doesn’t show signs of giving up. As recently as 2015, a court in Bali sentenced both an Indonesian man and an Australian man who shared a joint to one year in prison. Collectively, the two had less than a gram between them in the joint. And in 2017, a man was sentenced to eight months in jail and a fine equivalent to $69,000 for growing 39 plants in order to extract oil for treating his sick wife.

The Status of Cannabis in Indonesia

Currently, in Indonesia, cannabis is still considered a type-1 narcotic, meaning it is on the same level as cocaine and opium according to national drug laws. Possession of cannabis carries up to 12 years in prison or a large fine. Those who produce or traffic cannabis could serve up to 15 years in prison and pay an even harsher fine.

CBD is a pharmacological treasure trove for pet wellness, with claims that it can help cure seizures, appetite loss, nausea, pain relief, inflammation, skin allergies, osteoarthritis, and anxiety. And the evidence isn't just anecdotal. There are over 100 research papers published to support a promising future for CBD as a treatment for dogs and other animals. 

Unfortunately, while CBD holds excellent opportunities to make our dogs lives better, the laws are impeding research and forbidding practicing veterinarians to prescribe CBD or even recommend it. 

The big obstacles

The crux of the problem lies in the Schedule 1 classification of marijuana in the federal Controlled Substances Act ("CSA") as a drug "with no currently accepted medical use." Until marijuana legalizes, clinical trials remain scarce, and the American Veterinarian Medical Association (AVMA) won't approve the use of CBD. 

Marijuana's illegal status is holding back the cannabis industry from significant growth and breakthrough medical discoveries.

Another obstacle in product safety is the lack of FDA guidelines, even though it has been two years since the 2018 Farm Bill passed, allowing the cultivation of hemp.

If there’s one thing that the U.S. seems to enjoy, it’s health fads.

There has been no shortage of health-conscious trends that have made their way into the public eye only to become yesterday’s news in a matter of months.

Keto dieting, kale integration, juice cleansing, gluten avoidance, and even colonic hydrotherapy are just a few examples of health fads that seemed like they were going to change the world, only to quickly become a relic of their time.

This has led to CBD being considered a wonder drug by some and snake oil by others.

There’s no doubt that CBD is very much “in” right now.

The numbers back this up, looking at Statista’s list of CBD sales over the years: $108.1 million in 2014, $262.2 million in 2016, $512.7 million in 2018, and a projected $1.812 billion in 2022.

Virginia made history last week when the state Senate approved a bill that would stop police officers from pulling over and searching vehicles simply because they smell of cannabis. The bill is meant to help stop racial profiling against people of color. 

This is a big deal because Black folks are more than three times as likely to be arrested for cannabis, according to the ACLU and the data that has been gathered on cannabis use. In general, stop-and-search because of a cannabis smell is likely to involve stereotyping and impact minority groups negatively. 

“This is a small but important step to decriminalizing Black and brown bodies of being targeted by this longtime policing tool, which was really created by politicizing the war on drugs,” said Chelsea Higgs Wise, executive director of the nonprofit Marijuana Justice, regarding the possibility of passing this new bill. “The odor of marijuana is something that our undocumented community is anxious about because it’s life or death and separation from their families.” 

Cannabis Crime in Virginia

While cannabis decriminalization took effect in Virginia this past July, possession of more than an ounce can still result in a serious penalty, and having up to an ounce still results in a $25 fine. Thus, the negative impact tied to policing people of color is still there under this current system. 

“All of that has to stop to meet the full demand of legalization and fully, truly decriminalizing marijuana and Black and brown bodies in the eyes of the police,” Higgs Wise said regarding the change this bill could make.