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Legal marijuana: A $44 billion business by 2020?

Category: News | Posted on Sat, March, 19th 2016 by THCFinder

The growing acceptance and legalization of marijuana is helping the U.S. cannabis industry expand well beyond niche status. It's forecast to pump from $24 billion to $44 billion annually into the country's economy by 2020, according to an industry publication.

At the upper end of that forecast, published in the Marijuana Business Factbook 2016, it means sales of medicinal and recreational marijuana and related products and services would nearly equal the annual revenues of such Fortune 500 firms asFedEx (FDX) and Lockheed Martin (LMT), should current trends continue.

Put another way, that $44 billion is just shy of Panama's $46.2 billion GDP and ahead of Serbia's $43.9 billion. Even if the industry publication's forecast is a bit puffed up, cannabis is clearly heading for the big time.

Read More:http://www.cbsnews.com/news/legal-marijuana-a-44-billion-business-by-2020/


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New Orleans City Council Doesn’t Want People Arrested For Personal Marijuana Possession

Category: News | Posted on Sat, March, 19th 2016 by THCFinder

marijuana arrest prison drug drugsArresting someone for marijuana is inhumane, can ruin the person’s life in the blink of an eye, and costs the arresting agency a ton of money. I’m not sure how much a marijuana arrest costs in all municipalities, but many of the figures I’ve seen put a marijuana arrest for simple possession at between $1,500 and $2,000. Compare that to issuing a citation, which can cost as low as $20 from some statistics I’ve seen. More and more local governments are reforming their marijuana laws in such a way that minimizes the amount of people being arrested for simple marijuana possession.

The New Orleans City Council became the most recent local government to make such a move. The New Orleans City Council voted yesterday to reform it’s city marijuana law regarding personal possession. Per NOLA:

New Orleans police will have even more leeway to issue citations for simple marijuana possession after the City Council voted 7-0 Thursday (March 17) to enact new standards aimed at reducing the number of arrests for low-level drug crime.

Local law already allowed NOPD officers to write a ticket for first-offense possession, and they still have the option to use the stricter state law that calls for arrests. Council members Susan Guidry and Jason Williams backed the ordinance that allows police to issue summonses for third and subsequent simple possession charges.

“Our hope with this is that fewer people will be brought to jail and fewer people will have their lives disrupted with this charge,” Guidry said.

Read More:http://www.theweedblog.com/new-orleans-city-council-doesnt-want-people-arrested-for-personal-marijuana-possession/


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New Zealand Stoners Are Facing a Pot Shortage

Category: News | Posted on Sat, March, 19th 2016 by THCFinder

Along with the U.S., New Zealand regularly appears at the top of various global rankings of cannabis consumption. But our stoner friends down under are dealing with an unfortunate situation: There's a dire shortage of marijuana.

Earlier this month, police recovered 9,000 plants in an annual aerial operation, which affected both outdoor and indoor grows. Reporting for the Spinoff, one local writer described the situation as "catastrophic.”

"The bust is another blow for a nation already in drought," the story reads. "Marijuana, easily New Zealand’s most popular illegal substance, is almost unobtainable in any meaningful amount right now. Blame it on the police, the gangs, the weather or just the grow cycle of your average cannabis harvest; no matter which way you slice it, it’s dry out there."

Read More:http://www.hightimes.com/read/new-zealand-stoners-are-facing-pot-shortage-0


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Oregon Health Authority’s Marijuana Extract Policy Hurts Patients That Are Suffering The Most

Category: News | Posted on Fri, March, 18th 2016 by THCFinder

dabs concentrates extracts bho shatterShock waves were sent throughout the Oregon medical marijuana world this week when the Oregon Health Authority (OHA) issued a directive to medical marijuana dispensary operators to no longer accept cannabis extracts. Cannabis extracts are defined by OHA as involving heat and pressure during the creation process. That means no BHO and no CO2 products. No more shatter. No more cartridges. At least not in the near future.

Only entities that have a license to produce extracts are considered legal by OHA. The problem of course being that there aren’t any licenses currently. In fact, the application process doesn’t even start until next month for OHA. The Oregon Liquor Control Commission will regulate recreational marijuana, which will eventually have its own licenses for extracts. But as of right now there are no licenses issued in the State of Oregon. So when will licenses be issued? Per Oregon Live:

The health authority plans to roll out a licensing process for commercial extract companies, but André Ourso, manager of the state’s medical marijuana program, said Tuesday that the application won’t be online until April 1.

Applying, he said, is just the beginning of a “long process” for getting registered. In all, he said the process could take “a few months.”

Read More:http://www.theweedblog.com/oregon-health-authoritys-marijuana-extract-policy-hurts-patients-that-are-suffering-the-most/


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New technique could more accurately measure cannabinoid dosage in marijuana munchies

Category: News | Posted on Thu, March, 17th 2016 by THCFinder

As more states decriminalize recreational use of marijuana and expand its medical applications, concern is growing about inconsistent and inaccurate dosage information listed on many products, including brownies and other edibles. But now scientists report that they have developed a technique that can more precisely measure cannabis compounds in gummy bears, chocolates and other foods made with marijuana. They say this new method could help ensure product safety in the rapidly expanding cannabis retail market.

The researchers present their work today at the 251st National Meeting & Exposition of the American Chemical Society (ACS).

Read More:http://www.acs.org/content/acs/en/pressroom/newsreleases/2016/march/edible-cannabis.html


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GW Pharmaceuticals’ Stock Value Grows After Study Results Revealed

Category: News | Posted on Wed, March, 16th 2016 by THCFinder

epidiolex gw pharmaceuticalsMany in the marijuana world have worried a lot about big pharmaceutical companies taking over the industry. While I think that some of those fears are a bit overblown, I definitely am a little concerned too. I think that big pharmaceutical companies are going to flood the industry, and that there’s not a lot that can be done to stop it. With that being said, I think that there will always be a place in the marijuana industry for small businesses because they have the products that true veteran cannabis consumers really want.

Yesterday was a big day on the marijuana industry front, especially from a pharmaceutical company standpoint, as the results from a study were released by GW Pharmaceuticals. The results were favorable, and the news sent GW Pharmaceuticals’ stock soaring. Per Marijuana Business Daily:

A British maker of cannabis-based drugs revealed some sorely needed good news on Monday, announcing that an epilepsy medicine it created has successfully treated a severe form of epilepsy in children,according to Reuters.

In a clinical study, GW Pharmaceuticals said its Epidiolex syrup reduced the monthly number of seizures in children with Dravet’s Syndrome by 39%, compared to a placebo that reduced the seizures by 13%.

The results of the clinical study propelled the Cambridge-based firm’s stock price to $81.67 in morning trading on the Nasdaq, a gain of more than 112% over Friday’s closing price of $38.46.

Read More:http://www.theweedblog.com/gw-pharmaceuticals-stock-value-grows-after-study-results-revealed/


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