Marijuana News
DEA Likely To Reschedule Marijuana Listing
People around the nation are already expecting the possibility that the U.S Drug Enforcement Administration (DEA) may review the Schedule of marijuana to one of a less dangerous nature. Currently, cannabis is considered a “Schedule I” drug, establishing it equal to heroin.
With the rapid legalization of marijuana, people are beginning to question the reasoning behind this scheduling.
The 1970 Controlled Substances Act lead to the scheduling of all drugs in 1972. Since marijuana is still not necessarily determined to be medicine, it cannot be reclassified for medical purposes. However, this statement is argued by many doctors around the world.
These doctors a
re using records dating back to anthropological and archaeological evidence showing that marijuana has been used as medicine for thousands of years.
The American Medical Association initially opposed the idea of marijuana prohibition, considering its medical benefits. In 1944, the La Guardia Committee report from the New York Academy of Medicine was the first in a long line of official bodies to question the prohibition.
It is known that the FDA and Health and Human Services have given the DEA new rescheduling recommendations, however it is still unclear exactly what they are. There remains the possibility for a scheduling change sometime this summer.
To read more about the legal history of cannabis, click here.
Will Canada Fast-Track The Legalization of Marijuana?
The new administration under Canadian Prime Minister Justin Trudeau’s appears to be taking a speedier approach to legalizing recreational cannabis nationwide than previously thought.
The country’s minister of public safety told the Canadian broadcaster, CBC that officials will soon create a task force of reps from the federal, provincial and municipal governments to discuss legalization.
A detailed announcement is expected in the next few weeks.
A research analyst at Clarus Securities in Canada, told the firm’s clients that the comments are a sign that the government intends to move forward with the legalization of marijuana quickly.
He added that this is fantastic news for publicly traded Canadian cannabis companies.
“We believe the licensed producers will see their stock prices rise once that formal announcement occurs in the next several weeks, as the licensed producers are positioned to be the primary wholesale suppliers to a government-regulated retail network for recreational marijuana,” Atkinson said.
The Next Great American Cannabis Town
Colorado has become well known for its history and presence in the marijuana industry, but it might be time for a new player in the game.
The small desert city of Adelanto in California has seen a wide history of orchard farms, poultry ranches, an Air Force base and solar play. Yet-to-be elected City Council member John Woodward has made suggestions of transforming the city into a high-tech marijuana cultivation mecca.
The community already has massive industrial buildings which could be used for various grow facilities.
Residents of the community are willing to follow sort to add much needed revenue to the city’s general fund, which now includes prisons and the local school district.
Adelanto became one of the first cities in California to permit commercial cultivation of medical marijuana last November. People are not necessarily looking for the climate that these desert cities bring, but instead the amount of large industrial spaces.
The potential for large scale marijuana farming in this city has already heavily boosted local property values and the city will continue to see improvements if this plan goes underway.
Denver Will Keep Expanding Marijuana Businesses
Although many Denver city council members agree that the cities marijuana businesses need to be limited and spread out, a 6 city council vote on Tuesday failed to agree on any vote making these rules more strict.
Many residents of Denver were worried that cannabis grows and dispensaries were beginning to overpopulate lower income areas and areas around children and schools. The proposal wanted to put a cap on the amount of grows and dispensaries that were allowed in the city of Denver.
Other council members are pushing to submit another proposal for changes for another vote on April 18th.
Pending licences would be the main group affected by any changes caused by this vote. Licenses who have already been approved and set should not be affected in any way.
As marijuana legislation across the nation continues to change, state’s are imposing different regulations daily.
Drug Enforcement Agency Reviewing Reclassification of Marijuana
It has been announced that federal authorities are reviewing the possibility of loosening the current classification of marijuana, which has the potential to significantly impact how the substance is used in medical settings, among outside recreational use.
Since marijuana is currently classified as a Schedule 1 drug, it has extremely strict limitations. Schedule I drugs include substances such as heroin and LSD, and are considered among the “most dangerous drugs”.
The Drug Enforcement Administration is looking into the possibility of reclassifying cannabis as a Schedule II drug, which would put it in the same category as Ritalin, Adderal and oxycodone. This loosening of restrictions could allow for much more research in the field to determine which components can be of help medically speaking.
For prescription drugs to get approved in today’s age, they require rigorous scientific studies. For cannabinoid-based medical products to become approved, they must require that same amount of broadened studies.
Outside of the possibilities for extensive research, labeling marijuana as a Schedule II drug would open the doors for a number of businesses across the nation.
Why People Are Investing In Pot
The marijuana industry is expected to only get bigger and bigger as more states embrace legalization. With that said, now is the time to get in the industry- especially for investors.
There are many funds today investing in the cannabis business.
Overall public opinion of pot has completely changed, and as the generations age, public opinion is expected to become even more open. Outside of public opinion, the cannabis industry has a market cap of $3 billion as of April, there are more than 50 publicly traded companies related to pot and twenty-four states have now legalized marijuana in some form.
At least seven states are expected to have marijuana legalization initiatives on their upcoming election ballots and predictors are putting the cannabis industry at $15.2 billion by 2020. This is gold in the eyes of investors.
While all of this is promising in the eyes of many savvy business people, it is still important to note that the drug is illegal on a federal level. The federal government has recently turned a blind eye toward companies following state regulations, but that may change after the 2016 election.
Investors are looking for ways to minimize the risk associated with the federal illegality, but many are simply jumping at the monetary opportunity.
Whoopi Goldberg Enters Marijuana Industry With Product Line For Women
Whoopi Goldberg is now the latest celebrity following the green and diving into the marijuana industry. The comedian and talk show host has teamed up with two cannabis entrepreneurs to create a medical marijuana line of cannabis-based products specifically designed for women.
This team will begin selling four main marijuana-based items:
- Scented or unscented bath soaks
- Tincture
- Cream
- Marijuana-infused chocolate
These products are predominantly geared toward women looking to alleviate menstrual pains.
Ms. Goldberg has been a longtime advocate of marijuana legalization and has combined this with her own experiences of common pains.
The brand plans to only be available in California for now, with plans to expand in the future.
Whoopi is one among many celebrities who are jumping into the marijuana marketplace. The market has seen explosive growth over the recent years due to the rapid legalization of the drug among states.
How Much Marijuana Is Too Much While Driving?
Hawaii is among many states deciding how much marijuana a driver can safely consume before getting behind the wheel of a car. With legalization growing both medically and recreationally nationwide, this is an issue that many lawmakers want to tackle now.
The State Department of Health is currently studying whether a person can safely drive under the influence of marijuana, and the findings will lead to a determined limit for consumption of the drug before driving.
Considering the fact that cannabis has the potential to stay in the blood stream for days, or even weeks, a blood test is ruled out for detecting the amount of marijuana one may be under the influence of. Therefore, it is hard to determine what role marijuana has played in previous accidents where cannabis has been found in the bloodstream.
Colorado, Montana and Washington have already set the legal limit of THC to 5 nanograms per milliliter of blood, while Nevada and Ohio went lower with 2 nanograms. The difficulty then becomes how to test this amount in the bloodstream without doing immediate blood work.
All states will continue to conduct marijuana research on this issue until a well studied amount is agreed upon.
Women Breaking the Grass Ceiling in the Marijuana Industry
The marijuana industry across the world is booming thanks to rapidly changing federal and state regulations. With these changes, women are taking the lead and breaking into the industry by storm.
A number of women across the U.S are leaving corporate jobs for careers in pot. The growing economy in the cannabis industry is alluring to these women looking to join the business.
Local entrepreneurs in the states with legalized marijuana are not waiting; they are setting the stage for the coming boom in demand.
There are now even organizations such as Women Grow, which connects, educates and empowers women in the legal marijuana industry. Women Grow is now the largest national network of cannabis professionals, and estimates that roughly 40 percent of the executives in cannabis companies are women.
Organizations like Women Grow will likely show up more as they continue to empower women in the business world and give them the tools to beat the competition.
Denver Shuts Down Multiple Illegal Marijuana Grow Sites Across City
The Denver Police raided a number of illegal marijuana grows this week as part of a two-year investigation.
Although the number of sites raided and the amount of marijuana that was confiscated is unknown, police say that nobody was arrested or persisted with any resistance in the raid.
The current law in Colorado says that a Colorado resident, 21 years of age or older, may grow a maximum of six marijuana plants, with no more than three being mature plants at a given time, without obtaining a license. Anything beyond this gives police the right to shut down the operation at hand.
With the current laws continuously changing across the nation, it is becoming difficult for the police to keep up with what is considered legal for these residents and what is not.
Recent Comments