Featured News – MJ Shareholders https://mjshareholders.com The Ultimate Marijuana Business Directory Sun, 11 Nov 2018 22:26:35 +0000 en-US hourly 1 https://wordpress.org/?v=6.5.2 Surprise: Seniors are becoming the fastest-growing medical cannabis users demographic https://mjshareholders.com/surprise-seniors-are-becoming-the-fastest-growing-medical-cannabis-users-demographic/ https://mjshareholders.com/surprise-seniors-are-becoming-the-fastest-growing-medical-cannabis-users-demographic/#respond Thu, 22 Nov 2018 14:00:07 +0000 https://mjshareholders.com/?p=16015 Is history repeating itself? A generation of counterculture-era youngsters adopted “Turn on, tune out, drop out” as their mantra following Timothy Leary’s San Francisco proclamation in 1966. For the average 17-year-old, the lure of marijuana and other mind-altering substances offered opportunities to ditch their inhibitions and ignore convention.

Today, the same cohort is collecting Social Security checks and turning to Medicare for their health needs. But preferences for treatments that mediate senior ills have expanded. These days, marijuana is being prescribed as a safer, less expensive alternative to traditional pharmaceutical solutions and seniors are willing to try it.

“The trend among seniors using medical marijuana is on the up-and-up. From 2006 to 2013, cannabis use among seniors increased by 250-percent,” notes a Society for the Study of Addiction research report (https://onlinelibrary.wiley.com/doi/full/10.1111/add.13670).

Change is moving at warp speed

According to the National Council for Aging Care (Aging.com), the perpetual battle to legalize cannabis in myriad forms has been a formidable one. From the Marijuana Tax Act of 1937 to the Nixon-initiated Controlled Substances Act, the tide flowed in a single direction until the 1990s.

“The Washington Post” reports that by 2013, 4 of 5 doctors approved of medical marijuana (https://www.cbsnews.com/news/survey-76-percent-of-doctors-approve-of-medical-marijuana-use/) and the largest group of beneficiaries are senior citizens.

According to HealthDay News, “Seniors are giving rave reviews for medical marijuana.” Users call it an ideal treatment for chronic pain associated with aging and a healthier alternative to opioids. A leading authority on palliative care for seniors, Dr. Diana Martins-Welch declared the impact of medical marijuana “overwhelmingly positive.”

Why are industry insiders so surprised?

The long-standing issue of “illegality” notwithstanding, members of the medical profession in association with the pharmaceutical industry have been mired in controversy for decades, yet doctors are recognizing the benefits of cannabis and are prescribing it more and more.

Doctors suggesting this option are regularly confronted by patients worried about legal repercussions, but when physicians like Dr. Mark Wallace of the American Pain Society explain that their goal is “to find the dose that gives a therapeutic benefit without a high, or slowing reaction time or causing sedation,” patients relax and appear willing to give it a try.

Further, empirical studies that include Federal Drug Administration clinical trials, detail dramatic instances of pain diminution plus beneficial results when seniors use it to cope with cancer, Alzheimer’s Disease, mental health issues, eating disorders and glaucoma.

Geriatric patients themselves are regularly surprised to discover that cannabis is less addicting than opioids, particularly when they also learn that fewer deaths are attributed to marijuana use when compared to pharmaceuticals. Research shows that a surprisingly small number of men and women report opioid misuse, too.

Put the genie back in the bottle?

As legions of studies are conducted on the way marijuana boosts the brain and helps seniors deal with pain, disease and illness, it’s unlikely that doctors and seniors favorably disposed to prescribing and taking cannabis will decrease. Sara Davidson of “The New Yorker” says, “Seniors are America’s fastest-growing population of new cannabis users.”

She bases that statement on the fact that 10,000 people turn 65 every day, according to the Pew Research Center (http://www.pewresearch.org/fact-tank/2010/12/29/baby-boomers-retire/). Even conservative icon and former Speaker of the U.S. House of Representatives John Boehner has joined the revolution.

5 Benefits seniors receive

  1. The rising cost of prescriptions is cited as one of the major reasons seniors are willing to try cannabis. According to ABC News, seniors spending $3,000 annually on drugs are instead spending $650 on cannabis products (https://abcnews.go.com/Health/story?id=118104&page=1).
  2. Anecdotal evidence suggests that even the most “pot averse” seniors are willing to try cannabis when other remedies fail.
  3. Seniors suffering extreme, age-related insomnia are finding relief that mainstream drugs can’t provide without either addiction or desensitization over time.
  4. The ways that medical marijuana can be delivered to seniors is growing. From cigarettes, foods, vapor, topical applications and drops to pills, palatable intake options for seniors are growing.
  5. The medical community’s belief in the power of medical marijuana to deliver a safer, more affordable alternative to powerful drugs is expanding exponentially.
  6. As of June 27, 2018, the National Conference of State Legislatures report an increase in acceptance by states (http://www.ncsl.org/research/health/state-medical-marijuana-laws.aspx). This portends a more expansive role of cannabis use by seniors. After all, they’re living longer–and who doesn’t want that long life to be as pain-free as possible?
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Law enforcement tools that are being developed to determine if an individual is under the influence of marijuana https://mjshareholders.com/law-enforcement-tools-that-are-being-developed-to-determine-if-an-individual-is-under-the-influence-of-marijuana/ https://mjshareholders.com/law-enforcement-tools-that-are-being-developed-to-determine-if-an-individual-is-under-the-influence-of-marijuana/#respond Wed, 21 Nov 2018 14:00:32 +0000 https://mjshareholders.com/?p=16013 Everyone knows that driving under the influence is a crime. However, while police officers have a full arsenal of tools to determine whether or not an individual has been impaired from drinking alcohol before getting behind the wheel of a car, it is more difficult to determine when a person has consumed marijuana before driving a vehicle. In the past, if an officer found marijuana on the driver, the question was more or less settled, since the substance was outright illegal. As states across the country have started to pass legislation decriminalizing (or legalizing) cannabis and its use, it is unfortunately becoming increasingly common for people to drive under the influence of marijuana. Police are hard at work developing new tools to determine if an individual has been driving after consuming marijuana.

One possible solution would be a breathalyzer to detect THC, the active compound found in marijuana. However, there are many challenges to creating such a device for widespread use by law enforcement. Among other issues, the way marijuana is metabolized in the body is very different than the process that metabolizes alcohol, meaning the device will have to work in a novel way to successfully measure the amount of THC in a person’s system. Another issue that arises comes from the fact that the device would have to detect traces of THC that are thousands of times smaller than the size of the traces of alcohol which must be detected in a traditional breathalyzer. As a result, a functional THC breathalyzer would have to be exponentially more sensitive than a similar device designed to determine whether or not a driver was under the influence of alcohol.

In some instances, states have fallen back on so-called “per se” laws. Under these laws, a certain level of THC is determined to be a designated threshold. This level is ascertained by analyzing a sample from an individual’s bodily fluids. However, there are certain constitutional problems that arise when using this method to determine if a driver was impaired by marijuana while driving. For one thing, per se laws do not take into consideration how recently the marijuana was consumed. The current tests can only ascertain how much marijuana is present in the body, not how impaired the driver is, since THC can remain in a person’s system even after the psychoactive effects of marijuana have subsided. For another, the amount of time it will take to entirely metabolize marijuana and have it leave the body varies from person to person because THC bonds to fat cells. As a result, it is impossible to standardize the rate at which THC is metabolized, since the amount of fat a person has will depend on a spectrum of different possible variables, including age and gender.

Currently, most officers make the decision based on a field sobriety test, which includes elements such as following directions and performing certain physical tasks. However, this method is imperfect because it depends on the officer’s subjective opinion. While certain characteristics like red or glazed eyes and odor can be indicative of driving under the influence, the judgment of an individual officer will never be a perfect method of determining whether or not a driver is impaired. The race is on to develop a reliable method of determining whether or not a driver is under the influence of marijuana. At this time, it is unclear what will prove to be an effective solution, but it is clear that the methods that worked for alcohol will simply not suffice under these circumstances.

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How legal cannabis has support from both political parties https://mjshareholders.com/how-legal-cannabis-has-support-from-both-political-parties/ https://mjshareholders.com/how-legal-cannabis-has-support-from-both-political-parties/#respond Tue, 20 Nov 2018 14:00:09 +0000 https://mjshareholders.com/?p=16011 There is a widespread perception that marijuana legalization is only a Democratic Party priority. Perhaps in the past this was true. However, shifting attitudes on the part of the public have made potential legalization a bipartisan issue drawing Republican support as well.

The trend over the past two decades has been towards decriminalization of marijuana. Originally, much of the momentum towards decriminalization and legalization was made at the municipal level. City politics are traditionally bastions of the Democratic Party. After cities had decriminalized marijuana, many states followed. Several advanced beyond decriminalization to legalization. These states were also considered “blue states,” giving the perception that legalization was a cause supported by only one side of the aisle.

However, attitudes towards marijuana have progressed among all sectors of the population. A recent poll has shown that a majority of Republicans support marijuana legalization. In addition, support for legalization among Democrats and Independents is also at record high. Overall, 64 percent of the American public supports legalization, and a fifth of all Americans live in a state with legalized marijuana in some form.

This uptick in support is apparent among politicians as well. Although there is opposition from some members of the Executive Branch to legalization, including Attorney General Jeff Sessions, there are some pockets of support elsewhere among Republican politicians. For example, Senator Cory Gardner of Colorado has become a strong defender of legalized marijuana after his state passed a referendum permitting its usage. When the Department of Justice threatened to enforce federal drug laws, Gardner appealed to President Trump, who promptly backed away from the threat issued by his own Justice Department. For those worried that the federal government will squelch the gains made at the state level, Gardner’s defense of legalization in Colorado should assuage some fears.

For some Republicans, marijuana legalization is a federalism issue. Any federal attempts to encroach on legalization is a matter of states’ rights. For example, Congressman Dana Rohrbacher has sponsored the Respect State Marijuana Laws Act, which seeks to prevent federal prosecution of those engaged in activities related to marijuana that are legal in the states. The bill has 12 Republican cosponsors, indicating that legalization is not simply a partisan issue.

Democrats are realizing the potency of marijuana legalization as a political issue. Largely, they realize that the majority of voters support legalization so it has become an emerging consensus in the party. Most major Democratic politicians have voiced support for legalization. At the very minimum, few have publicly opposed it. There are nuances in the level of support, with some supporting legalization and others supporting decriminalization. The open question is how vocal some Democrats choose to be in support of legalization of marijuana. Some Democrats are afraid that their position on marijuana legalization may earn them the dreaded label of “soft on crime.” Senator Cory Booker of New Jersey, a potential 2020 presidential candidate, has been one of the more vocal proponents of legalization. He has proposed a bill that would support nationwide legalization.

Legalized marijuana may turn out to unfold in a manner similar to gay marriage. For that issue, public opinion was formed ahead of political opinions, and the politicians simply caught up to their constituents. In any event, it appears that the trend towards legalization of marijuana appears to be here to stay, and public opinion is not receding.

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How edibles are quickly becoming the preferred choice for many legal cannabis users https://mjshareholders.com/how-edibles-are-quickly-becoming-the-preferred-choice-for-many-legal-cannabis-users/ https://mjshareholders.com/how-edibles-are-quickly-becoming-the-preferred-choice-for-many-legal-cannabis-users/#respond Mon, 19 Nov 2018 14:10:56 +0000 https://mjshareholders.com/?p=16009 Marijuana has long been a discrete part of daily life in the US. While it was once only associated with young people in their rebellious years, however, it’s become so normal that it’s the new recreational pastime of the middle aged according to a recent article in the Washington Post

The number of those who smoke is on the rise in general, though statistics disagree on whether its new popularity is a result of it now being legal recreationally in Washington D.C. as well as nine other states. You don’t just have to smoke weed anymore either. Smokers are developing the habit of ingesting cannabis. In fact, cannabis infused gummy bears or peach flavored fruit tarts are the new normal. Marijuana edibles have become the latest trend.

Why?

It’s tough to draw a conclusion that offers one unanimous explanation. Some feel that ingesting THC is less harmful than drawing it into their lungs. Others claim it’s a more subtle high that doesn’t come on as suddenly as it would if they were inhaling from a bong or vaporizer.

It’s hard to resist tasty snacks

Marijuana edibles on the market tend to be made with the kind of imaginative ingredients you would only otherwise have the pleasure of enjoying in a farmer’s market or gourmet shop. What’s not to like about chocolate covered pot dipped marshmallows? How can you not want a scoop or two of marijuana laced cheesecake ice cream? Gluten-free peanut, parsley and cinnamon biscuits are absolutely sublime even when they don’t contain THC. “It’s been my passion to make medical marijuana not only highly effective, but deliciously amazing,” says the owner of a California dispensary. https://www.seattletimes.com/life/food-drink/pot-dispensary-finds-niche-ice-cream/.

Doses are listed on the packaging or on the menus of restaurants that sell marijuana edibles

Everyone’s data and information driven these days. The new cannabis consumer wants to know the precise quantity of THC that they’re indulging in. They may like the calm and tranquility of being high, but that doesn’t necessarily mean that they want to get so stoned that they’re unable to do anything but meditate on their own toes for hours afterwards.

Privacy issues

The scent of pot wafting through the hall outside the door of your apartment may reveal too much information about your personal life to your neighbors than you’re comfortable with. You can munch on edibles without any great fanfare. Maybe you don’t want to attract attention to yourself when getting a little faded on a park bench one lovely day even if pot is legal in the area where you live.

Edibles are more economical

Marijuana can be really expensive. The exotic stuff can cost an arm and a leg. Recipes for how to make edibles are readily available. You don’t need to spend $100 on the best strain. You can just buy a small pinch and prepare yourself an edible treat with it that will give you a light buzz and help you to continue with your daily activities.

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Livin’ Legal: How Legalizing Weed Has Positively Affected The Public https://mjshareholders.com/livin-legal-how-legalizing-weed-has-positively-affected-the-public/ https://mjshareholders.com/livin-legal-how-legalizing-weed-has-positively-affected-the-public/#respond Fri, 16 Nov 2018 14:00:03 +0000 https://mjshareholders.com/?p=16007 The United States has had a very complicated history with cannabis. While “stoner culture” was joked about light heartedly in media and entertainment, marijuana was simultaneously scheduled as a level 1 narcotic along with some of the most dangerous and addictive drugs available. This dichotomy left us feeling conflicted, confused, and sometimes even frightened about the substance. After being legalized in many states, there are a lot of things that we’ve learned about marijuana, it’s effects and uses. Let’s take a quick look the changes these legalizations have made.

MEDICAL PROGRESS

For the longest time, the use of marijuana and derivative products of cannabis was so tightly regulated that it was only available to patients with debilitating diseases and ailments. In places that cannabis has been legalized we have discovered that it can be used for a myriad of common conditions. It can even be used in some cases as a replacement for certain anti-anxiety remedies. People are now able to treat certain symptoms and conditions with a readily available medication that often has fewer side effects and less long term damage potential than typical prescription drugs. In some cases, cannabis is arguably the safer option for treatment.

LEGAL CLARITY

Millions of arrests were made on the grounds of cannabis possession and consumption before it’s varied degrees of legalization. The criminal justice system even made marijuana a specific target in the “war on drugs”. The natural, organic substance was so tightly regulated that even research about it was severely limited. To the point that even having it for medical and research purposes was prohibited by all but one federally controlled research facility. Now that it has been legalized in some areas, the truth about marijuana is finally coming out. It can now be properly and thoroughly researched, which makes it easier for lawmakers and officials to make and enforce laws that make sense for what cannabis actually does, rather than creating regulations based on inflated fears and total falsehoods. Our justice system is finally allowed the information it needs to make reasonable decisions from an informed position rather than relying on extremely limited and insufficient information brought by a single source.

SOCIAL DESTIGMATIZATION

Perhaps the most apparent and important change regarding marijuana since it’s legalization has been the public’s attitude toward it. Where marijuana use to once be the symbol of degenerate behavior, it is now seen as anything from life saving medication to a recreation worth indulging in every now and again. It is no longer a drug for burnouts, but rather as a happy part of people’s lives and experiences. People of all ages and walks of life now finally have the freedom to try a substance that was once strictly prohibited, and they are. Without the need to live in fear, people are exploring all kinds of ways cannabis can improve their life.

There is still a lot to be discovered about cannabis. Different products and uses are still being discovered for many of the chemical compounds found throughout the cannabis plant. But even what we have discovered thus far has disproven myths and eased public fears about consuming cannabis. Now that we know more about marijuana and its effects it has given the general public the confidence to medicate the way they need to and indulge where they see fit. Legalization may not have been an easy process for many states, but if tax revenue and consumer sales are any indication, it is a decision most citizens are extremely satisfied with.

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How The Legal Cannabis Industry Is Having A Positive Financial impact on local economies https://mjshareholders.com/how-the-legal-cannabis-industry-is-having-a-positive-financial-impact-on-local-economies/ https://mjshareholders.com/how-the-legal-cannabis-industry-is-having-a-positive-financial-impact-on-local-economies/#respond Thu, 15 Nov 2018 14:00:46 +0000 https://mjshareholders.com/?p=16005 In a growing number of cities and states throughout the U.S., the sale of cannabis for medicinal and recreational use is now legal. In 31 states, as well as the District of Columbia, Puerto Rico and Guam, people can purchase and use cannabis with a doctor’s recommendation. In 9 states, Washington, Vermont, California, Alaska, Oregon, Vermont, Maine, Massachusetts and Colorado, purchasing cannabis for recreational use is legal. This has been a boon to the economy in those regions with state and local governments enjoying a tax windfall that totals hundreds of millions of dollars.

A Tax Bonanza

States that have legalized the sale of cannabis are enjoying a tax bonanza. Reports estimate as much as $1.4 billion has gone into state coffers from cannabis specific taxes. In the first six months after Nevada legalized recreational cannabis use, it took in over $30 million in cannabis tax revenue. Colorado collected over $100 million in tax dollars from cannabis when it legalized recreational use in 2016 and averages over $140 million annually since. Alaska, which taxes its 116 cultivators, has collected about $11 million so far in 2018 in cannabis tax revenue. In the first quarter of 2018 alone, California’s cannabis brought in tax revenue in excess of $60.9 million. Massachusetts estimates its cannabis tax will generate between $44 and $82 million annually. Oregon’s tax on cannabis brings in $20 million a quarter. In Washington state, the cannabis tax haul last year was $70 million.

Direct And Indirect Income

While the bulk of the tax income is generated from cannabis sales, another way cannabis produces tax income for state and local governments is through job creation. The cannabis industry employs thousands of workers in each state and each of these workers has to pay income tax. That’s another consistent tax source from which state and local governments benefit. Add the taxes paid by growers and the owners of cannabis shops and dispensaries and it’s easy to see how the cannabis industry is a growing sources of much needed tax revenue for local, city and state governments.

Lots Of Beneficiaries

The tax revenue generated by the cannabis industry is used to support an array of programs within local communities and state wide. In several states, a portion of the cannabis tax dollars is used to support education and the funding of public schools. Plus, some of the cannabis tax dollars is used to fund substance abuse treatment and youth drug prevention programs. In 2016, Colorado used $16 million in cannabis tax dollars to offer affordable housing loans and grants. In Alaska, 50% of cannabis taxes goes into the state’s general fund, while the other half is directed into the state’s Recidivism Reduction Fund. Massachusetts plans to use some of the cannabis tax dollars to fund programs for restorative justice.

In California, about 45% of the cannabis tax revenue goes into the state’s general fund. Each year, $10 million will be used to fund public university grants for research on better implementing the program. The California Highway Patrol will get $3 million annually to develop effective methods for dealing with cannabis impaired drivers. Another $2 million will go to cannabis research and $10 million will be used to fund community reinvestment programs offering medical care, substance abuse and mental health treatment, legal services and job placement for communities negatively impacted by prior drug laws.

The legal cannabis industry is proving to be a boon for countless communities nationwide. It is providing state and local governments with millions of dollars they can use to tackle long needed projects and improve the quality of life for its citizens.

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How the Legal Cannabis Industry is positioned to Exceed Alcohol Sales Nationally within the Next Five Years https://mjshareholders.com/how-the-legal-cannabis-industry-is-positioned-to-exceed-alcohol-sales-nationally-within-the-next-five-years/ https://mjshareholders.com/how-the-legal-cannabis-industry-is-positioned-to-exceed-alcohol-sales-nationally-within-the-next-five-years/#respond Wed, 14 Nov 2018 14:00:45 +0000 https://mjshareholders.com/?p=16003 The legal cannabis market is projected to hit 146.4 billion dollars by 2025 globally. This is according to a recent Grand View Research, Inc. report. The plant has been greatly adopted in various medical applications, including chronic pain (caused by arthritis, HIV/AIDS, and neurological disorders), mental disorders, and cancer, among others. It is a move that is expected to boost the growth of revenue in the near future.

Cannabis Legalization

Legal cannabis has been gaining traction across the globe as a result of high demand among consumers of every adult age bracket. Just recently, Canada made headlines as the first G7 country to make recreational cannabis legal. Currently, there is growing support for the legalization of recreational cannabis here in the United States. According to a poll released in 2017, at least 64 percent of Americans were in support of the legalized cannabis. So far, at least 9 states have made recreational cannabis legal, while 30 states have legalized medical cannabis.

Medical cannabis is increasingly becoming a major alternative to common pain relievers, especially opioids, which are known to have fatal side effects. In 2017, the medical cannabis market saw a growth of 349.1 million dollars. As more people get to learn about the advantages of cannabis over the forecast period, there will be a substantial growth of up to a compound annual growth rate (CAGR) of 36.2 percent.

The Future of Cannabis

With the sale of legal cannabis in North America up by 33 percent in August 2018 alone and close to 550 percent within the last three years, the possibilities of an ongoing boom in the next five years are high. This is something that could be brought about by legislative reforms across more US states. In fact, the prohibition of cannabis in the US may come to an end in the next five years.

2018 could perhaps be the year that has given the industry a reason to be highly optimistic. First, the world’s fifth largest economy, California, permitted recreational cannabis shops to open in January. In Massachusetts, retail stores were opened for legal business in July and national sales are expected to go beyond one billion dollars by 2020.

Expected Surge

With the increasing number of cannabis companies in legal operation, the variety of products expected to reach the end user will increase. More so, the high investment on research for the development of safer products such as vapes will reinforce the growth of the market positively. Despite current cannabis prohibitions in the US, in 2017, the marijuana industry saw a 31 percent growth rate. It only goes to say that the ongoing legalization by individual states will  increase the demand for marijuana to about a 22 percent compound annual growth rate.

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How science and technology are helping to bring new and innovative cannabis products to market https://mjshareholders.com/how-science-and-technology-are-helping-to-bring-new-and-innovative-cannabis-products-to-market/ https://mjshareholders.com/how-science-and-technology-are-helping-to-bring-new-and-innovative-cannabis-products-to-market/#respond Mon, 12 Nov 2018 23:00:34 +0000 https://mjshareholders.com/?p=15999 In the last three decades, the cannabis industry has revolutionized drastically. It started with the legalization of medical marijuana in California in 1996. Later in 2012, states like Colorado and Washington also legalized the use of recreational marijuana. Now, more than half of the states have authorized the use of medical marijuana or recreational marijuana or both. More states are expected to follow soon.

Due to the increasing legalization of marijuana, the use of technology in the industry is becoming bolder and more relevant in production, sale, and consumption. Additionally, as more people are embracing the benefits of marijuana, more technology companies have been emerging nationwide. With the proliferation of technology, the cannabis industry is expected to grow significantly in the coming years. Below are different ways in which technology is impacting the industry.

Technology in The Cultivation

Although marijuana has been found to provide a lot of benefits, there is lacking reliable information on how to grow the plant. Since cannabis was illegal for many years, cultivation was confined to smaller-scale operations and involved a lot of secrecy. However, the involvement of technology is becoming beneficial in the cultivation of the plant.

Recently, machine learning has been infiltrating into almost every aspect of human lives. One of the fascinating technologies in cannabis farming is virtual reality and artificial intelligence. The best part is that the technologies are affordable even to small home growers. Artificial intelligence is eliminating the hard part of maintaining the plant through an automated monitoring system. Sensors and cameras are used to monitor the pH levels, temperature and light to provide individualized care for each plant. AI technologies significantly reduce labor and therefore cut down cost. The grower is only required to plant the seed and will be notified when the plant is ready for harvesting.

Lab Testing Technologies

Initially, it was difficult to identify the various strain and composition of compounds in the cannabis plant. However, technology has provided tremendous assistance in cannabis testing, and consumers can make better purchasing decisions. In fact, improved testing is crucial in the production of medical marijuana to offer patients specific therapeutic effects. Although the testing requirements vary with different states, there are specific procedures that are common in the industry. For instance, High-Performance Liquid Chromatography (HPLC) has been the most widely used technique in testing the levels of CBD and THC, which are the two most common cannabinoids.

Unlike other industries, there are no specific guidelines and regulations on the testing methods of marijuana. This can lead to a lot of inconsistency in the potency data and composition of the cannabinoids. However, testing is crucial to ensure safety for the consumer.

Mobile Applications in The Cannabis Industry

Mobile apps are providing smartphone users with a lot of conveniences. Due to the rapid advancement of technology, applications are developed daily. There are several mobile applications that target cannabis users.

MassRoots is one of the most significant mobile apps in the cannabis industry. It is a social networking platform where users can share content, read the news, and interact. Recently, the platform has been gaining popularity at a rapid pace, and it is now estimated to have over a million users. Furthermore, various dispensaries have linked with the application to provide an enhanced experience to the users.

Green Bits is another application that is changing the marijuana industry. It is a point-of-sale (POS) software for marijuana retailers that provides an improved way of making and tracking sales. The application is cloud-based, making it easier to scan products, monitor the inventory, and track sales. Interestingly, it can be integrated with other cannabis applications such as Leafly and WeedMaps.

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How CBD is poised to become the next “wonder drug” https://mjshareholders.com/how-cbd-is-poised-to-become-the-next-wonder-drug/ https://mjshareholders.com/how-cbd-is-poised-to-become-the-next-wonder-drug/#respond Mon, 01 Oct 2018 13:02:20 +0000 https://mjshareholders.com/?p=6784 Cannabidiol, popularly known as CBD is a drug that is a derivative of the cannabis plant and has become popular because of its therapeutic advantages. The market for CBD continues to grow with sales topping $820 million in 2017 alone. As it stands, the market for Cannabidiol products is projected to grow by 700 percent in the next 24 months.

The legalization of Medical Marijuana in some parts of the United States has led to CBD becoming increasingly popular. The CBD market is being led by consumers who are buying these products to experience the medical effects while at the same time; there is plenty of confusion as to exactly how much CBD is needed to achieve the desired results. Cannabidiol products that are found in states with legal  recreational or medical programs consist of cannabis derivatives that contain as much as 30% CBD. However, non cannabis friendly states use hemp-based CBD products sold in health food stores that only contain 3.5% of this compound.

Medical Marijuana is becoming popular because most consumers are searching for a wonder drug that can treat ailments that relate to anxiety and chronic pain. Researchers are working diligently to find out if CBD can be used to cure cancer and epileptic seizures in children. There are plenty of medical professionals that believe CBD may also help those that are suffering with Alzheimer’s. Now that more than 17 states have legalized the use of Cannabidiol products in the last two years, the amount of people that can benefit from CBD has grown exponentially.

Various companies are currently producing Cannabidiol in different forms to include vape pens, edibles and topical salves that can be absorbed through the skin. CBD tinctures have become the best method of delivery for children who have epilepsy since tinctures are easy to administer and swallow.

A large percentage of the public currently prefers using Cannabidiol products over prescription opiates and other Schedule 2 medications. As these products become increasing more popular, the negative stigma associated with CBD and cannabis infused medication is being replaced with hope and the possibility of living a pain free life without opiates.

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Financial benefits of legal cannabis taxation at the state and local level https://mjshareholders.com/financial-benefits-of-legal-cannabis-taxation-at-the-state-and-local-level/ https://mjshareholders.com/financial-benefits-of-legal-cannabis-taxation-at-the-state-and-local-level/#respond Fri, 28 Sep 2018 13:34:17 +0000 https://mjshareholders.com/?p=6742 Taxes and fees are revenue-raising devices to fund government; therefore, one key aspect of cannabis taxation is to collect revenues off the privilege to sell and consume marijuana. Legalization of marijuana has allowed state and local governments to do just that.

As of 2018, twenty-nine states and the District of Columbia have legalized medical marijuana, nine states and the District of Columbia have legalized recreational marijuana, and thirteen states have merely decriminalized the use of marijuana. Polls consistently show the majority of Americans support using tax revenue collected from marijuana sales to fund local programs that are currently underfunded or not currently funded at all. The massive fiscal injection to state and local programs that were slashed due to budget cuts has led to more and more states placing legalization initiatives on upcoming ballots for the 2018 and 2020 election cycles.

Although over half of states have some version of a program in place to facilitate the production, sale, and use of recreational and/or medicinal marijuana, these activities remain a crime under federal law. Dispensaries are not violating state law by selling marijuana, however they are in still violation of federal law.  This same principal applies to individuals who uses marijuana both recreationally and medically. Thus, states with recreational and medicinal marijuana programs have had to construct their own legal, regulatory, and tax frameworks that allow cannabis businesses to cultivate, process, and sell marijuana.

Researchers at Colorado State University-Pueblo have discovered that the legalization of marijuana has had a positive impact on the economy due to revenue generated through taxes and fees collected both the state and local level. Marijuana purchases are subject to two-levels of taxation: (1) fees paid by businesses to sell cannabis and (2) the applicable state and local sales tax passed onto consumers. Both of these are major revenue streams for the state. Businesses running medical marijuana dispensaries, for example, are subject to a $7,000 to $15,000 application fee, $5,200 to $13,200 registration fee, and a $5,800 to $13,800 license renewal fee.The state made $7,340,000 from application fees in the first year alone, exceeding the government’s cost to regulate the industry. The additional generated revenue accrues to the state’s general fund that can the be used to revitalize programs that have underfunded or unfunded due to budgetary cutbacks.

While revenue can be in the tens or even hundreds of millions of dollars, it may take some time for state or local governments to start profiting off the industry. In Colorado, the tax revenues initially fell short of projections that accompanied the legalization campaign, but eventually the state collected marijuana tax revenues greatly exceeding the original estimate of $70 million per year. After an initially slow start, there was an impressive year-over-year growth starting in 2015 with collections in retail marijuana tax revenue growing to $113 million, demonstrating that a legalization-and-tax regime could raise millions (if not billions) of dollars per year in marijuana tax revenue.

In addition to revenue raised by taxes and fees, state and local governments have increased their revenue stream by spending less enforcing cannabis-related crimes. In California, the fiscal impact of legalization is projected to produce net reduced costs of $100 million annually to state and local governments related to enforcing non-violent marijuana-related offenses, handling the related criminal cases in the court system, and incarcerating and supervising certain marijuana offenders. The state plans to use most of these funds to combat addiction, requiring the funds to be spent for specific purposes such as substance use disorder education, prevention, and treatment.

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