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Most Floridians support legalizing adult-use cannabis.

The year is nearly coming to a close and little federal progress has been made regarding the legalized cannabis industry. In August, the U.S. Department of Health and Human Services (HHS) formally recommended reclassifying cannabis as a Schedule III controlled substance. Four months later, it is unclear if the Drug Enforcement Agency (DEA)Read DEA Chief’s Critical Memo Admonishing Trump

will heed the advice of the HHS or wait until the first quarter of the new year to reschedule cannabis under the Controlled Substance Act. However, there is a group of six governors who want to see cannabis rescheduled by year’s end. “We hope that [the] DEA will follow suit and reschedule cannabis to Schedule III this year, given that 88 percent of Americans are in favor of legalization for medical or recreational use. Rescheduling cannabis aligns with a safe, regulated product that Americans can trust,” a five-page letter signed by Governors Jared Polis (Colorado), JB Pritzker (Illinois), John Bel Edwards (Louisiana), Kathy Hochul (New York), Phil Murphy (New Jersey) and Wes Moore (Maryland) reads.

It is great to see state leaders acknowledge the benefits of cannabis and hold President Joe Biden accountable for his promises to decriminalize the plant. Reclassifying cannabis as a Schedule III substance under the Controlled Substance Act is an “overdue step” in the right direction. Though we are not expecting it until next year, it would be incredible if the DEA doesn’t wait until the ball drops and the calendar turns. The time is now.

 

GOP pushes back as recreational marijuana use begins in Ohio

At the direction and will of the voters, Ohio will enter the world of legalized adult-use cannabis in December. Adults over 21 years of age can possess up to 2.5 ounces of marijuana in plant form or up to 15 grams in extract form and grow up to six marijuana plants per adult.

“Marijuana is no longer a controversial issue,” Tom Haren, a spokesperson for the Coalition to Regulate Marijuana Like Alcohol, said. “Ohioans demonstrated this by passing State Issue 2 in a landslide. Ohioans are being extremely clear on the future they want for our state: Adult-use marijuana legal and regulated.”

Despite Ohioans voting to legalize of adult-use cannabis in November, state lawmakers are threatening to make significant changes to the state’s adult-use landscape. Most notably, the Republican-controlled Ohio Senate voted 28-2 to approve a measure that would tax cannabis sales at 15% and cut the number of cannabis plants residents can own in half.

 

“Ohioans will remember blatant disregard for the voters on marijuana. I have been a Republican my entire adult life, but I have never felt as disrespected or disenfranchised by my own party and my legislature as I do right now,” Ohio resident Tyler Ward wrote in a letter to the editors of The Columbus Dispatch.

The latest measure pushed through the Ohio Senate must be approved by the Ohio House of Representatives before it can be signed into law. In the meantime, the voters of Ohio and those in the other 49 states will be watching and hoping the lawmakers abide by the will of the people. That is what’s right for Democracy and for basic economics.

News broke this week that the initiative is now being fast tracked, with recreational marijuana sales now expected to commence within 90 days. It seems the compromise included a 15% excise tax and caps on potency, which are both illogical. We expect some serious unintended consequences around the potency cap with vape as just an initial example. The positive is that the market will quickly open with existing medical doors being able to sell adult use.

 

Most Floridians support legalizing adult-use cannabis

Less than four weeks stand between American voters and another eventful election year. Aside from the high-profile federal races, many will be watching the Sunshine State as state-level initiatives bring the topic of legalized adult-use cannabis to the forefront.

Florida has entertained the idea of adult-use weed legalization before, but each attempt has missed the mark for one reason or another. However, Florida has changed quite a bit since the most recent failed attempt at legalizing recreational cannabis use.

Will Florida Ever Legalize Recreational Marijuana? | Miami New Times

A recent survey conducted by the UNF Public Opinion Research Lab (PORL) found that 67% of Floridians would vote for an initiative that legalizes the possession and regulates sales of small amounts of cannabis for personal use among adults. Support was highest (77%) among adults between 18 and 24 years old, followed by Floridians between 55 and 64 (70%). While the survey sample size was limited to 716 respondents, it was surprising to see support among 35 to 44-year-olds sit below 60% and no data was presented about adults between 25 and 34.

 

“Unlike previous surveys when we simply asked if folks support or oppose [the] legalization of recreational marijuana, this time we gave respondents the specifics of the proposed amendment,” PORL Faculty Director Dr. Michael Binder said. “Yet again, it looks like (the amendment) has a good chance of passing, if it makes it through the courts, and that is a very big ‘if.'”

The results of the survey are consistent with the prevailing notion that young Americans nationally are very much in favor of ending cannabis prohibition. The future leaders of this country will bring about change despite efforts from the old guard who continues to hang on to their political positions.

More improvement could be made on California’s cannabis tax revenue

California, despite its many known challenges, remains the largest legal cannabis market in the world. Industry projections estimate California will make up 20% of the U.S. market by 2025 and be worth $5.4 billion by 2030.

This year, California’s cannabis market produced $285.1 million in tax revenue during the second quarter and $269.3 million during the third quarter. The market should be more desirable and implementing the following strategies could result in a more significant legal industry.

  • Access: Incentivize the many jurisdictions that have yet to allow for legal cannabis to open immediately.
  • Taxes: Cut the state’s excise tax down to 10%, as seen in many other adult-use legal states. It would also be beneficial to cap the tax rate that cities are also adding in.
  • Enforcement: Address the burning distribution license matter, that is currently allowing massive diversion to the illicit market and undercuts the legal market. The state is aware of this issue and public officials should address it immediately.

The state has our support as it takes steps toward enhancing its significant cannabis program. Some progress has been made, but there is always room for improvement, as no market is perfect. The state and its cannabis industry can tackle these issues, find solutions and provide citizens and legal industry participants with the healthy and thriving program they deserve.

 

#IntheWeedswithSteve

  Be patient Florida, this too, shall pass! Steven M Smith InspirationalTech.org CEO since 2013.

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Illinois’ adult-use cannabis retailers reached a historic high in November.

 
Record Sales: Illinois' Cannabis Industry Historic November
 

Illinois’ adult-use cannabis retailers reached a historic high in November, setting a record for the most legal cannabis sold primarily to in-state residents in a single month. Overall sales, including purchases made by out-of-state customers, ranked fifth-highest monthly total since weed shops opened in January 2020.

 

Breakdown of November’s Cannabis Sales

The Illinois Department of Financial and Professional Regulation reported total recreational cannabis sales amounting to $139.1 million for the month. According to Marijuana Moment, this figure includes $105.5 million in sales to Illinois residents and $33.6 million by visitors, exclusive of taxes.

State of Illinois | Illinois Department of Financial & Professional ...

Moreover, state-licensed retailers sold more individual adult-use cannabis products in November than ever before, with a total of 3.77 million items.

Medical Cannabis Sales and Market Trends

While the latest figures for medical cannabis sales in November are still pending, October’s sales reached $26.2 million, including $12.4 million in dry flower and $13.8 million in concentrates and infused products. This data comes from the Medical Cannabis Patient Program.

 

Despite these impressive numbers, Illinois consumers are facing higher cannabis prices compared to many other states with legal markets. Governor J.B. Pritzker acknowledged the high prices but emphasized the industry’s consistent expansion and the substantial sales to out-of-state customers.

Gov. J.B. Pritzker not on board with Sen. Mitch McConnell’s support of ...

2023: A Year Of Record-Breaking Growth

State officials also highlighted the “unprecedented” surge of state-legal cannabis sales in fiscal year 2023. This growth is partly attributed to the opening of 28 new retailers and total retail sales surpassing $1.5 billion.

The fiscal year 2023 brought approximately $451.9 million in revenue from legal cannabis to Illinois, outperforming alcohol revenue, which was around $316.3 million.

Advancing Social Equity in Cannabis Licensing

To address the impact of the War on Drugs, Illinois issued 200 conditional licenses and established a Social Equity Criteria Lottery. This initiative aims to prioritize individuals disproportionately affected by drug laws, with over 2,600 applicants for 55 new social equity dispensary licenses. Most of these new licenses were allocated in Cook County, the state’s most populous region.

Chart: Illinois lottery for retail marijuana licenses raises social ...

 

A Boost to Diversity and Challenges for Small Growers

The industry has also seen a notable increase in minority and women-owned businesses since 2020. Black-owned companies now account for 27% of the market, Latino/a or Hispanic-owned companies for 5%, Asian-owned companies for 3%, and women-owned businesses make up 16%.

However, small cannabis growers are facing challenges, struggling to thrive even with state aid.

 

#IntheWeedswithSteve   Be patient Florida, this too, shall pass! Steven M Smith InspirationalTech.org CEO since 2013.
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Recent Sunspots are Increasing Activity, Intensity and will have Interference in Earth’s Geomagnetic Storms.

The sun has suddenly become much more active, bursting with sunspots and sending plumes of hot plasma out into space.

An enormous ‘sunspot archipelago’ could soon bombard us with solar flares (Picture: Nasa/SDO/HMI

In the last week alone, sunspot numbers have increased by 10 times, dotting the sun’s surface with black pockmarks spewing out several coronal mass ejections every day.

 

One of these coronal mass ejections (CMEs) may be due to hit the Earth in the coming days, a NASA model has shown, with one possibly due to collide with our magnetic field and atmosphere late on November 25. This will be confirmed after scientists fully analyze the trajectories of the storms.

What are coronal mass ejections? | Live Science

Coronal mass ejections are huge clouds of solar plasma that are spat out of the sun in regions of high magnetic activity, which can include sunspots. The sun may also send out solar flares, which are bright bursts of electromagnetic energy.

“Solar flares and CME are both caused by the sun through its magnetic field being twisted and stressed through motions in the sun,” Daniel Brown, an associate professor in astronomy and science communication at Nottingham Trent University in the U.K., told Newsweek. “However, a solar flare is the immense release of light triggered by the snapping and rearranging of the magnetic fields on the sun. That will go hand in hand typically with the release of a CME. But it will take a day or more for the particles to arrive while the light and radiation reaches us in just over 8 minutes. So, a good comparison is that a flare is the flash of a muzzle while the CME is actually the cannonball traveling and possibly hitting us.”

 

When the particles of a CME hit the Earth’s magnetic field and atmosphere, it can trigger a geomagnetic storm.

“A geomagnetic storm occurs when the Earth’s magnetic field is seriously disrupted by eruptions from the sun,” Huw Morgan, head of the Solar Physics group at Aberystwyth University in the U.K., told Newsweek. “When a large plasma storm erupts from the sun, and that storm carries a magnetic field which is oriented in an opposite direction to Earth’s magnetic field, we have a ‘perfect storm,’ and a larger geomagnetic storm.”

Geomagnetic storms vary in strength depending on the power of the CME that caused it, being measured on a scale between G1 (minor) to G5 (extreme), according to NOAA. The most powerful of the storms are the least common: while there may be 1700 G1 storms per 11-year solar cycle, we may only see 100 G4 storms and 4 G5 storms during that same period.

 

These geomagnetic storms can cause spectacular displays of aurora much further towards the equator than normal, with more powerful storms causing the northern lights to creep further and further south.

This occurs because charged particles in the Earth’s atmosphere are influenced and disturbed by the solar plasma hitting us, subsequently reacting with gases like nitrogen and oxygen in the air and causing them to glow.

“Under quiet conditions, charged particles (both from the solar wind and the ionosphere) can become trapped in the magnetosphere, happily bouncing from hemisphere-to-hemisphere, pole-to-pole. Under these circumstances, some of these charged particles will collide with upper atmospheric particles, causing auroras in the polar regions,” Brett Carter, an associate professor in space science at RMIT University in Australia, told Newsweek.

However, when a CME hits and causes a geomagnetic storm, these particles are forced deeper into the atmosphere, causing them to react with more gases and cause the aurora to be brighter and visible further.

 

SOHO images of the sun releasing CMEs on November 22 (left) and November 23 (right). One of the sun's recent CMEs may hit the Earth late on November 25. NASA / Solar and Heliospheric Observatory SOHO

SOHO images of the sun releasing CMEs on November 22 (left) and November 23 (right). One of the sun’s recent CMEs may hit the Earth late on November 25. NASA / Solar and Heliospheric Observatory SOHOÂİ NASA / Solar and Heliospheric Observatory SOHO
 

Other than pretty lights in the sky, geomagnetic storms can also lead to some impacts on infrastructure, including fluctuations and outages in the power grid and radio blackouts.

“The affected infrastructure that is of most importance is large-scale power grids, without which modern society would not be able to function. Other than that, pipelines, High Frequency (HF) radio/radar and satellites in orbit are significantly affected,” Carter said. “Pipelines are known to also carry geomagnetically induced currents, which accelerates their corrosion. Satellites can experience increased surface charging due to the plasma environment in orbit, and this can affect the onboard electronics and operation of the satellite.

 

“Further, due to the huge amount of energy being dumped in the Earth’s atmosphere during these big storms, the atmosphere actually swells, and this causes more satellite drag in low-Earth orbit (up to about 1,000 km altitude, where the majority of our satellites are). Increased satellite drag further complicates efforts to keep track of everything in orbit, and making sure that collisions don’t take place. The really minor geomagnetic storm in February 2022 that resulted in the loss of the majority of a Starlink deployment is a perfect example of how varying satellite drag can complicate space operations.”

Beaver Moon, on the Horizon. 11/27/2023 Enjoy.

The “Beaver Moon” is coming tonight, here’s what you should know.

The Beaver Moon, a term steeped in history and folklore, has captivated the imagination of various cultures for centuries. The next full moon, rising on November 27, 2023, carries with it a rich tapestry of stories, scientific phenomena, and cultural significance.

Significance of the Beaver Moon

The term “Beaver Moon” is primarily attributed to the Native American groups of North America, specifically those in the northeastern United States. These groups, deeply attuned to the natural world, named the full moons throughout the year to keep track of the seasons and significant natural events.

 

November was the time when beavers, preparing for winter, would become particularly active. They would fortify their lodges and store food, crucial for survival during the harsh winter months.

For the Native Americans and early colonial settlers, this was also the time for trapping beavers. The beavers’ fur, thick and waterproof, was highly valued for making warm clothing and hats, essential for surviving the cold winter.

Astronomical aspects of the Beaver Moon

The next full moon, like all full moons, occurs when the Earth is positioned directly between the sun and the moon. This alignment allows the sun’s rays to fully illuminate the moon’s surface that faces Earth.

The exact date and time of the full Beaver Moon can vary annually due to the lunar cycle’s slight misalignment with the Gregorian calendar. In 2023, it will occur on November 27. The Beaver Moon is visible worldwide, with its exact appearance and timing differing slightly depending on geographical location.

 

Cultural and spiritual perspectives

In addition to Native American traditions, many other cultures have their own interpretations and names for the November full moon. For instance, in Europe, the next full moon was often called the Frost Moon, signaling the onset of frost and colder temperatures.

In various spiritual and astrological beliefs, the Beaver Moon holds significant meaning. It is often seen as a time of preparation and transition, reflecting the beavers’ behavior in the natural world. Some believe it is a period to focus on securing resources and setting intentions for the coming winter months.

Scientific perspective

From a scientific viewpoint, the Beaver Moon presents an opportunity for lunar observation and research. Scientists study the moon’s surface, its impact on Earth’s tides, and other lunar phenomena during full moon phases.

Despite its allure, the Beaver Moon is sometimes subject to myths, such as its influence on human behavior. Scientifically, no conclusive evidence supports these claims, but they remain a part of popular culture.

Observing the Beaver Moon

For enthusiasts looking to observe or photograph the Beaver Moon, clear skies and a high vantage point are ideal. Telescopes or binoculars can enhance the viewing experience, revealing the moon’s craters and seas in greater detail.

Many communities and astronomical societies organize events around the full moon, including the Beaver Moon. These gatherings often include moon viewings, cultural education, and sometimes spiritual or meditative practices.

In summary, the Beaver Moon is a bridge connecting us to the natural world and our ancestors who first named it. This next full moon of 2023 is a reminder of the rhythms of nature and the passage of time. It brings with it an opportunity to observe, reflect, and perhaps partake in the age-old traditions that celebrate the mysteries of the moon and the night sky.

 

 

Be patient Florida, this too, shall pass! Steven M Smith InspirationalTech.org CEO since 2013.

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What if marijuana is reclassified as a Schedule III substance?

 

Federal authorities are weighing whether to stop classifying marijuana among the riskiest drugs, a move that cannabis advocates have long hoped would result in more research on its health effects, businesses having an easier time selling it and fewer people going to jail.

Surgeon general suggests reconsidering marijuana's status as Schedule 1 ...

 

But experts warn the August recommendation by the Department of Health and Human Services to strip marijuana’s designation as a Schedule I drug may not fulfill those hopes.

The proposal before the Drug Enforcement Administration to reclassify marijuana as a Schedule III substance — in the same category as prescription drugs such as anabolic steroids, ketamine and testosterone — would free marijuana from some of the restrictions that apply to Schedule 1 drugs such as heroin and LSD. A decision is expected in coming months.

While marijuana advocates have cast the proposal as a step forward, some contend it doesn’t go far enough and would like to see the drug removed from the schedule system entirely, treated like tobacco and alcohol, and eventually legalized at the federal level.

Rescheduling marijuana would amount to a symbolic win in the quest to normalize the drug.

 

“A recognition from the federal government after all these years that marijuana is safe and effective as a therapeutic agent for patients is significant because obviously that would be a reversal of a very long-standing and very public position,” said Paul Armentano, deputy director of the National Organization for the Reform of Marijuana Laws (NORML), an advocacy group. “When it comes to the practical elements, I don’t think anyone knows because we have never gone down this road before.”

Marijuana legalization faces tough odds in holdout red states despite Ohio win.

The implications are mired in legal complications, especially because cannabis is caught in a convoluted system for regulating the drug across different levels of government as both medicinal and intoxicating. Here’s a rundown of what we know about rescheduling and the concerns swirling around different aspects of marijuana reform.

What does drug scheduling mean?

The Controlled Substances Act regulates drugs and categorizes them into one of five “schedules” depending on their medical benefits and potential for abuse.

The schedules aren’t a ranking of how bad the drugs are for you or society, but instead are a guide for how limited access to the drug should be for doctors, pharmacists and patients. (For example, LSD, which rarely kills users, is scheduled higher than opioid painkillers, which causes tens of thousands of fatal overdoses, because painkillers are routinely used in treating patients.)

 

Marijuana’s designation as a Schedule I substance means the federal government thinks there is no accepted medical use and a high potential for abuse. Federal law prohibits the cultivation and possession of Schedule I drugs, except for approved research studies.

Possible easing of marijuana restrictions could have major implications.

A Schedule III designation under consideration for marijuana means the drug has moderate to low potential for physical and psychological dependence. Federal health officials have declined to answer questions about how they have assessed marijuana’s potential for abuse and dependence.

Here’s where things get really tricky: Federal officials have previously said they are obligated to classify marijuana as a Schedule I or II substance under an international treaty to fight drug trafficking by tightly controlling narcotics. That’s one of the issues the DEA would have to sort out before deciding whether to reschedule the drug.

 

Effects on health research

All controlled substances come with restrictions on research, but marijuana and other Schedule I substances have the toughest requirements. Experts say it’s imperative to conduct more research on marijuana to understand its benefits and risks as legal markets flourish and consumer use soars.

 

To gain access to pot, researchers need to register with the DEA under rules that would not apply if they studied Schedule II substances like cocaine and fentanyl. They must submit research protocols to the DEA that need to be reviewed by the Food and Drug Administration. And they must meet stringent requirements for drug storage in electronic safes or vaults that some researchers say are too expensive and burdensome to follow.

“It’s incredibly excessive and totally unnecessary,” said Ryan Vandrey, a cannabis researcher at Johns Hopkins Medicine. “I can run an entire study with an amount of cannabis that’s less than $100 in street value and bought by an adult in the state of Maryland at any of the different dispensaries.”

Researchers have to obtain marijuana from growers that follow federal restrictions. But they say such restrictions on growing marijuana for studies make it harder to examine the effects of high potency products and other forms of cannabis now popular among consumers.

Image result for Researchers have to obtain marijuana from growers that follow federal restrictions. But they say such restrictions on growing marijuana for studies make it harder to examine the effects of high potency products and other forms of cannabis now popular among consumers.

 

Marijuana addiction is real. Those struggling often face skepticism.

Some researchers have found ways to get around these rules, but their studies have limitations.

For example, Washington State University researchers studying the cognitive effects of cannabis had to use Zoom to observe participants who just used marijuana they bought at dispensaries. The ideal study would involve researchers providing high-potency cannabis from dispensaries, including a placebo to a control group, and participants coming to a lab to provide blood samples and record physiological data points such as heart rate variability and cortisol levels that cannot be measured over Zoom.

The university risks losing federal funding if researchers administer cannabis themselves even though marijuana is legal in Washington, said Carrie Cuttler, an associate professor of psychology who directs The Health & Cognition (THC) Lab at Washington State.

“It’s absurd, absolutely absurd,” she said, “to treat cannabis as pretty much the most dangerous narcotic available in the world.”

Despite these restrictions, there is still plenty of research done on marijuana without ever handling the physical drug.

And experts caution there would still be hurdles in conducting the kind of research that’s now off-limits even if marijuana is reclassified as a Schedule III substance. That’s because the drug would still be treated as a therapeutic rather than an increasingly popular recreational product. It would still be difficult to study all the new marijuana products flooding the market, particularly edibles, vape cartridges and highly concentrated forms such as waxes and shatter.

Kevin Sabet, president of Smart Approaches to Marijuana, which opposes marijuana legalization, said his organization has proposed creating a new schedule category that would relax research restrictions on marijuana while maintaining other restrictions from its Schedule I status.

 

Unclear future for the cannabis industry

One of the toughest questions to answer about rescheduling is what it would do to the thousands of marijuana companies operating in a legal gray zone.

It is expected they would be able to deduct business expenses from their tax obligations for the first time, boosting their bottom lines. Beyond that, it gets complicated.

Industry advocates hope rescheduling might encourage more banks to work with marijuana companies, but a bill in Congress to shield fnancial institutions from punishment is the more direct path for achieving that goal.

There is no precedent for reclassifying a drug that is legal in states, and the booming marijuana industry, and its broad network of direct-to-consumer sales, is nothing like the markets for other Schedule III drugs such as ketamine and testosterone, which require a prescription.

In some ways, the status quo of treating marijuana as one of the riskiest drugs may actually be better for business.

Because marijuana is a Schedule I substance, the FDA has punted to the DEA to regulate it, and the DEA is not in the business of overseeing industries and markets.

A group of marijuana organizations raised concerns that treating marijuana as a Schedule III substance meant for medicinal purposes could upend the industry. They fear the FDA would prohibit recreational marijuana and hold therapeutic products to the high bar needed to sell medicine — requirements only large pharmaceutical companies may realistically be able to overcome — but leading experts dismiss that concern as unfounded.

Some experts argue that it is unlikely the FDA will suddenly crack down on marijuana after taking a largely hands-off approach for years, given the disruption it would cause and the resources it would take. Advocates counter that there’s no guarantee the winds won’t shift — for example, if Florida’s Republican governor, Ron DeSantis, wins the presidency after railing against marijuana.

“There is no way anyone could know or predict in our current political climate what the risk of FDA enforcement is,” said Shaleen Title, a former Massachusetts marijuana regulator who runs a cannabis think tank. “What I worry about is by trying to relax marijuana laws, we would inadvertently end up in a situation where we would be criminalizing existing state operators in a new way.”

 

Limited impact on federal pot prosecutions

Marijuana is illegal at the federal level regardless of how it’s classified, and rescheduling alone would not change penalties for major federal marijuana cases.

Possession of Schedule I substances is a federal crime, but few people go to federal prison just for having marijuana. Federal marijuana trafficking charges have plunged 90 percent in a decade as authorities make fentanyl their top priority. Under federal law, rescheduling would not affect penalties for trafficking convictions, said Shane Pennington, a D.C. attorney who specializes in cannabis law.

“It’s going to be a lot less of a boon for criminal justice reform than people think,” Pennington said.

Marijuana prosecutions tend to happen in state courts, and there were at least 209,000 arrests for possession last year, according to FBI statistics.

Along the Interstate 40 corridor that cuts across the Texas Panhandle between New Mexico and Oklahoma, local police officers routinely arrest motorists transporting marijuana loads from illegal grow operations in California, said Texas defense attorney Adam Tisdale, who specializes in marijuana cases. The loads are typically headed to Florida, and the drivers are charged in state court with possession of marijuana, which becomes a felony depending on the weight of the marijuana. Tisdale predicts local officers won’t stop making those arrests, which usually result in hefty fines, not jail time.

President Biden grants mass pardons for those convicted of simple marijuana possession.

“It won’t make any difference in my neck of the woods,” Tisdale said of rescheduling.

Proponents of rescheduling, such as the U.S. Cannabis Council, say it would send a powerful signal to law enforcement agencies that marijuana cases should be a low priority.

Critics, including the former DEA and White House officials who signed a letter organized by the anti-marijuana organization Smart Approaches to Marijuana, argue that rescheduling removes a “key tool” that federal agents have in prosecuting cartels.

Experts are split on what impact rescheduling would have on the nation’s criminal justice systems, which for decades have punitively targeted people — particularly Black and Latino people — for possessing or trafficking in a drug that is now legal for recreational use in 23 states. The Minority Cannabis Business Association and other advocates for racial equity in marijuana policy contend rescheduling alone continues the war on drugs.

“I don’t know if it’s worth the trade-off to be stuck in this murky middle,” said Kaliko Castille, board president of the Minority Cannabis Business Association. “You are still going to have business owners making millions of dollars and others in prison for a plant.”

Loosening restrictions on marijuana may not be boon for reformÂİ Melina Mara/The Washington Post

Be patient Florida, this too, shall pass! Steven M Smith InspirationalTech.org CEO since 2013.

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The Future of The CBD Industry In 2024 And beyond.

What is in store for Hemp Derived Products in 2024. History may repeat itself.

CBD companies are tasked with seizing this opportunity while navigating the significant hurdles. As a founder and owner, here is my take on the crucial developing issues in my industry, along with predictions about what will happen.

Image result for CBD as its initially “Wild West”

CBD sales in the U.S. hit $4.6 billion in 2020, a massive number just two years after hemp-derived cannabinoids were federally legalized. This growth is only expected to accelerate, with two notable forecasts projecting a U.S. market of $15 billion to more than $20 billion by 2025 and 2024, respectively.

CBD companies currently offer a pretty wide range of products. Nevertheless, this diversity will increase as more companies introduce products that hyper-concentrate on each of the over 100 minor cannabinoids found in the hemp plant. Formulations focusing on cannabinol (CBN), cannabigerol (CBG) and other compounds and mixes will be developed for specific use cases.

See related image detail. Granny Med

2. Regulatory challenges remain, and it will take Congress to clarify things.

Despite being federally legal, we’ve observed that CBD companies still have problems obtaining capital and standard services from banks and other financial services institutions. And the ability to market CBD as a safe and effective substance is limited by how the FDA classifies it.

Ultimately, the U.S. Congress has the authority to address these issues, and there is current legislation aiming to do just that, such as the Safe Banking Act of 2021, the Hemp and Hemp-Derived CBD Consumer Protection and Market Stabilization Act of 2021 and the Hemp Access and Consumer Safety Act. Crucially, those last two pieces of legislation would pave the way for the FDA to authorize marketing CBD as a dietary supplement. This development will open up many forbidden or restricted marketing and distribution channels, leading to greater sales and brand exposure.

3. Big-box retail access will spur sales while stabilizing and improving supply chains.

Once companies can market CBD as a dietary supplement, it’s my opinion that it will hit the mainstream of brick-and-mortar retail. In particular, big-box chains will offer a range of topicals and ingestibles in various product categories and applications.

This new distribution could vastly grow the market while benefiting various supply chain components, including hemp farmers and labs that conduct the extraction, distillation, crystallization and isolation of CBD from plants. A particular benefit will be incentivizing more quality labs to get in the CBD game, as many facilities now hesitate to stray from their core competencies. The price of raw materials will also drastically increase as retail demand grows.

4. More big names will get into the game through acquisitions.

Huge companies have been hesitant to embrace CBD as its initially “Wild West” market goes through growing pains. But once the regulatory landscape clears and stabilizes, I believe many corporate giants will look to diversify their product lines with CBD and add brand-new products that open avenues of growth. Companies like Procter & Gamble, Johnson & Johnson, Coca-Cola, Unilever and more may get into the game, and they’ll do it through acquisitions of existing CBD market leaders.

Affecting industries as diverse as cosmetics, food and beverage and pharmaceuticals, the exploding CBD (cannabidiol) market has generated considerable headlines, providing fodder to umpteenth analysis and forecasts. The latest one, by leading cannabis researchers BDS Analytics and Arcview Market Research, projects that the collective market for CBD sales in the U.S. will surpass $20 billion by 2024.

5. Education, quality assurance and safety will skyrocket. 

An all-time high in public education about cannabinoids will accompany the mainstreaming of CBD. Through this, consumers will be able to feel more confident and safer while purchasing products that are smartly regulated.

Many CBD companies, which now mainly self-regulate, will be forced to improve their quality assurance and compliance efforts to survive. And the providers who already sell high-caliber products will finally reap the rewards of their investments in R&D and production that have necessarily reduced ROI.

The future of CBD is bright, but it still hinges on crucial developments.

In some ways, the CBD industry is an unstoppable juggernaut. It’s already a multi-billion-dollar sector that will only get bigger, as millions of consumers have made their preferences clear. But CBD companies still have to navigate many unique hurdles, from obtaining capital to using standard payment processing to being able to market on regular channels.

The crucial developments that will remove these barriers are the FDA classifying CBD as a dietary supplement, the industry’s unrestricted access to financial services and an intelligent regulatory framework that increases product quality and safety across the board.

FDA Objects to CBD Being Sold as a Dietary Supplement; Industry Leaders ...

As the owner of a CBD company, I am in wait-and-see mode like many of my colleagues. We simply steer through these challenges to grow our companies. But I believe that lawmakers will solidify the status of CBD soon, removing barriers to innovation, safety and, ultimately, the normalization of the industry. When that happens, even more growth — exponential growth — is on the horizon.

 

According to a Forbes article, the CBD industry is in a unique position as a substance that was federally illegal before the passage of the 2018 Farm Bill, hemp-derived cannabinoids with no more than 0.3% THC still face a regulatory grey area. This ambiguity creates a host of novel challenges in financing, marketing and producing products. But simultaneously, the industry and market are growing incredibly fast. CBD sales in the U.S. hit $4.6 billion in 2020, a massive number just two years after hemp-derived cannabinoids were federally legalized. This growth is only expected to accelerate, with two notable forecasts projecting a U.S. market of $15 billion to more than $20 billion by 2025 and 2024, respectively. CBD companies currently offer a pretty wide range of products. Nevertheless, this diversity will increase as more companies introduce products that hyper-concentrate on each of the over 100 minor cannabinoids found in the hemp plant. Formulations focusing on cannabinol (CBN), cannabigerol (CBG) and other compounds and mixes will be developed for specific use cases1.

 

List of Common Cannabinoids | M A N O X B L O G

We are often faced with our own personal conflicts which directly influence our interactions with our peers and family. 

When Inspirational Technologies is an endorsement of the “Cannabis” approach to the medical condition, we say, let’s let the look at the data and the people who say that they benefit for cannabis alternatives.

Beginning in Late November 2023 Inspirational Technologies will promote the long-awaited series, “In the Weeds with Steve “. An Inspirational Technologies production under their own “Background Noise Productions Studios.

 

Steven M Smith InspirationalTech.org

CEO since 2013.

#IntheWeedswithSteve

Thank you for consideration.

 

 

Inspirational Technologies (2023)

 

InspirationalTech.org for your Health Wellness Beauty and Inspirational Goals

For More Information on Cannabis and CBD and YOU. Click On the Following Link

Cannabis CBD and Me

Thank you for consideration.

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O High O – voters approve Legalization measure for Marijuana after 23 states precede Ohio’s will.

Ohio certainly wasn’t the first state to legalize recreational cannabis — 23 other states have done so since 2012 — but the Buckeye State’s arrival on that list could ultimately be quite consequential for the growing industry.

Ohio voters’ approval of a legalization measure on Tuesday comes just months after cannabis saw some of its most significant movements at the federal level. In late August, a US Department of Health and Human Services official recommended that marijuana be reclassified as a Schedule III drug. One month later, a cannabis banking bill passed a key Senate committee.Ohio Voters Approve Recreational Marijuana, Marking a Milestone in Sta ...

A conservative and politically influential state such as Ohio legalizing marijuana should be the straw that breaks the proverbial camel’s back in terms of bringing federal regulation to cannabis, said Andrew Freedman, a partner at Forbes Tate and executive director of the Coalition for Cannabis Policy, Education and Regulation. “As Ohio goes, so goes the nation,” he said.

“It’s not the reddest [state] — the reddest was Missouri — but it is historically important, nationally important, presidentially important,” Freedman told CNN. “I honestly think it will have massive reverberating effects on what Congress has to do about this.”

More than two-thirds of US states have legalized cannabis in some capacity: 38 states have approved comprehensive medical cannabis programs, and Ohio brings the recreational total to 24 states.

And support for legalization continues to grow. A record 70% of US adults surveyed by pollster Gallup said that cannabis use should be legal, according to a new poll released Wednesday.

Still, cannabis remains federally illegal, and marijuana is classified as a Schedule I substance, the harshest of all drug classifications.

“A ‘no’ vote does send a signal across the nation that this is a major, middle-of-the-road/leaning-right part of this country that is saying, ‘Not too fast,’ and yet it passed by an overwhelming margin,” Freedman said. “I do think that it is a very clear message to the federal government that prohibition is no longer the law of the land, even though it remains on the books.”

For Ohio regulators, legislators and business operators, now comes the hard part.

More work to come

The voter-approved recreational measure approved this week is far afield from early legalization efforts in the state. In 2015, residents overwhelmingly voted against a medical and adult-use measure that would have limited growing and sales to 10 properties, all of which were owned by an investor group that included the 98 Degrees boy-bander Nick Lachey.

The law allows for adults over the age of 21 to buy and possess up to 2.5 ounces of cannabis and grow some plants at home for personal use. Legal sales will be subject to a 10% excise tax, as well as other local and state taxes, and those proceeds will go toward communities with dispensaries, programs such as small and minority business development, and addiction treatment.

A sign supporting Issue 2 sits in a residential yard on Election Day, Tuesday, Nov. 7, 2023, in Cincinnati. - Joshua A. Bickel/AP

A sign supporting Issue 2 sits in a residential yard on Election Day, Tuesday, Nov. 7, 2023, in Cincinnati. – Joshua A. Bickel/APÂİ Provided by CNN

Existing medical cannabis dispensaries will have the opportunity to be grandfathered in and have first crack at licenses, but municipalities can decide whether to allow sales.

Since it’s a citizen-initiated measure and not a constitutional amendment, it could be modified or repealed in the Republican-controlled state legislature. Some lawmakers and Republican Governor Mike DeWine have opposed legalization.

But Freedman said: “I think the legislature needs to be careful, because it passed with large amounts of support (57% of voters approved), and generally, you should respect the will of the voters. But if there are parts of the bill that would create a lack of accountability, then those should be shored up.”

“For the most part, I think that they should have the nuts and bolts of a system that can have good inventory control, take bad actors out of the market and make sure that sales will stay internal to Ohio,” he said.

Some legislators may try to “slow walk” implementation or try to scuttle it; however, others who see it as a potential economic development boon may try to push it forward, said Douglas Berman, executive director of the Drug Enforcement and Policy Center at The Ohio State University’s Moritz College of Law.

“That’s the to-be-determined on implementation, and of course this has been the story state by state nationwide,” he said. “Every state has had its own uncertainty for rollout. And given the fact that Ohio’s the 24th state is likely to help this go a little bit smoother.”

Industry woes

If all goes smoothly, Ohio’s recreational program could get up and running relatively quickly.

The law goes into effect on December 7; state regulators have to issue licenses to existing medical cannabis applicants within nine months and additional licenses to other applicants within two years.

“I certainly think, perhaps to the chagrin of some longtime Buckeyes, that it would be fair to say this is kind of a Michigan model that Ohio has adopted through this initiative,” Berman said. “In 2018, Michigan fully legalized cannabis, set a relatively low tax rate and my perception is it’s been a fairly successful industry there.”

Michigan’s cannabis sales hit a record $276 million in July, a time when industry members there and beyond have struggled.

It’s “pretty universally held at this point in time that this industry is not doing well,” said Irina Dashevsky, partner and co-chair of the cannabis law practice group at Greenspoon Marder.

Marijuana buds ready for harvest rest on a plant at AT-CPC of Ohio, Monday, Jan. 28, 2019, in Akron, Ohio. - Tony Dejak/AP

Companies are struggling because of the federal state disconnect that’s resulted in cannabis firms facing extremely onerous tax burdens, the inability to conduct interstate commerce, and lack of access to the full financial system the United States has to offer, she said. Additionally, some states have seen the number of operators — regulated and illicit — swell, resulting in a glut of cannabis product and, thus, plunging prices.

Investors have recoiled, and companies have had to turn to debt-based funding, but that’s expensive because cannabis companies can’t avail themselves of traditional financial services and bank loans, she said.

The Secure and Fair Enforcement Regulation (SAFER) Banking Act, which passed a key Senate committee, could allow cannabis businesses greater access to banks — but it does not solve all the issues the industry faces, Dashevsky said.

“There is this confluence of things that really lead me to believe that change of the federal level is on the forefront, but we’ve been there before and it hasn’t crossed the finish line for weird, outside reasons,” she said. “It should be regulated; no one’s saying it should be a free-for-all, but the people in the US want it legalized, and so for the federal government not to catch up after a decade? I think it’s definitely time, and Ohio is a huge indicator of that.”

Opportunities for expansion

Adult-use sales in Ohio could total an estimated $1.5 billion to $2 billion in the first year after market-launch, and $3.5 billion to $4 billion by the fourth year, according to industry publication MJBizDaily.

In five years of operation, Ohio could see between $276 million and $403 million in annual tax revenue, according to Drug Enforcement and Policy Center research. That’s a drop in the bucket of the overall state budget, which for fiscal year 2023 stood at $81.1 billion.

Harvest of OH, which opened medical cannabis dispensaries in 2021, is one of the Ohio firms gearing up for a major expansion to respond to what could be an “onslaught” of recreational sales, said Ariane Kirkpatrick, founder and majority owner.

Harvest will have the opportunity to receive three additional licenses at the recreational level and has already received approval for the expansion of its cultivation footprint.

“It’s all sort of new, it’s all up in the air right now, but we’re pretty adaptable,” Kirkpatrick said, noting the company’s team, processes and logistics that are already in place.

Harvest of OH also has the potential to help drive the industry forward by making it more inclusive, said Amonica Davis, the company’s chief operating officer.

“In the state of Ohio, with dispensaries, cultivators and processors, there are already over 150 operators and just a handful of us are Black,” she said. “And so we have a commitment, and we are very intentional in creating our workforce that is very highly concentrated with women at the executive level, over 50% of our employees are people of color, and much of our supply chain comes from partners who are traditionally underrepresented in this space.”

We are often faced with our own personal conflicts which directly influence our interactions with our peers and family. 

When Inspirational Technologies is an endorsement of the “Cannabis” approach to the medical condition, we say, let’s let the look at the data and the people who say that they benefit for cannabis alternatives.

Beginning in Late November 2023 Inspirational Technologies will promote the long-awaited series, “In the Weeds with Steve “. An Inspirational Technologies production under their own “Background Noise Productions Studios.

 

Steven M Smith InspirationalTech.org

CEO since 2013.

#IntheWeedswithSteve

Thank you for consideration.

 

 

Inspirational Technologies (2023)

 

InspirationalTech.org for your Health Wellness Beauty and Inspirational Goals

For More Information on Cannabis and CBD and YOU. Click On the Following Link

Cannabis CBD and Me

Thank you for consideration.

Inspirational Technologies 2023

 

AllRightsReserved2023

1st Hemp USA News is a resource of Inspirational Technologies (2021-2023)
Inspirational Technologies (2023) AllRightsReserved
Your ONE STOP BLOG FOR INFORMATION, EDUCATION, & INSPIRATION OF ESSENTIAL INNOVATION & RENOVATION of You-
THANK YOU FOR YOUR INTEREST
*This site receives virtually no compensation for sales of some or all mentioned products. We however place humanitarian value over monetary interests. Our monetary income goes back into research, development, discovery and healing.
Inspirational Technologies – is Committed to Your Health Wellness Beauty and Enrichment
Reporting on Today’s Internal Botanical and Skin Product Benefits

4 Hemp Club was Inspired by Steven Smith’s vision to   “Have an older generation 4H Club, where an older community of adults could carry on what the younger 4H Club envisioned.

Our 4H Platform Uses HEMP as an Agricultural Focal Point, deserving of research, development and with the

4 Hemp key points being Health Hope and Happiness, thru Hemp“.

Cannabis CBD and Me  
Inspirational Technologies Inspirational Technologies (2014) @Inspire123tech Background Noise Studios Logos by
Steven M Smith
AllRightsReserved2023

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