Medical cannabis has revolutionized the world of the pharma industry since its legalization in 2014. People have been using medical cannabis to treat various conditions, which include chronic pain, epilepsy, and endometriosis.
New frontier data had a study which discovered the effects of cannabis introduction in the medical field. It studied the impact on two main things: the industry and the economy.
On international acceptance of cannabis, people will be avoiding medicines and turn for medical cannabis instead to solve their medical issues.
Impact on the pharma and economy
A study related to Health Affairs in 2016 analyzed the sales of pharmaceutical medicines for treating certain medical conditions. They found that these states with legal cannabis showed a decline of 11 percent in such medications.
New frontier data used the statistical analysis to see the potential of the monetization influence if medical cannabis is legalized on a federal level. The scientists concluded that the money lost to the companies in the pharmaceutical industry could reach $18.5 billion between the years 2016 to recent year.
Scientists have been identifying its influence on the treatment of anorexia, nausea, and chronic pain. Moreover, they have also found positive results for mental health problems like depression, anorexia, and insomnia. In addition to that, they have found cannabis to better fight against certain cancer complications like cachexia (difficulty in swallowing).
Cannabis has more than a hundred active compounds. Each active component has an intrinsic quality that the scientists have not yet found. The psychoactive compound tetra hydra cannabidiol (THC) serves to be an active compound for giving the high. On the other hand, the active component cannabidiol is good for relieving pain other medical conditions.
The most popular reason why people use medical cannabis is for treating their chronic pain. It is not only efficient for relieving sudden or chronic pain but also for relieving inflammation. Its antioxidant property is the reason why more industries like the beauty market are improvising their products to make products.
It is safer than other products that are addictive
Scientists have called this product to be way safer than opioids as the former does not cause any toxicity. People having high acidity related diseases and other gastric disorders cannot take conventional pain killers. Cannabis gives them a good option for switching to a better pain killer.
Many people have admitted about the benefits of cannabidiol compound for treating conditions like insomnia, anxiety, and depression. In addition to that, cannabis serves to be a great muscle analgesic. This is the reasons people with Parkinson’s disease are also opting for it as a potential treatment for recurrent symptoms.
The effects it has on treating conditions like multiple sclerosis, interstitial cystitis, and other medical conditions is also applaudable.
This is why medical cannabis has a big capacity to treat certain medical conditions. However, the prescription of the compound is still illegal at a high level in the United States.
There is a big fight from the cannabis advocates to legalize the substance on the federal level. However, there is no green light yet. Some blame it on the federal government while others go for the Food and Drug Administration. A hidden reason behind it is the pharmaceutical industry behind it.
What Cause Biden To Change his Policies For Cannabis?
Ever since Biden took office as president, reforms have been under discussion for formulating new cannabis regulations and legislation at both the federal and state levels. After the election, people and investors were hopeful that the cannabis industry would flourish and progress in multiple markets as the government introduces new cannabis legislation.
Members of Biden’s political party have put forward bills recommending decriminalization and legalization of weed at activities at the state level, reports Forbes. Some states have already legalized and decriminalized marijuana business activities. Others are still discussing and making amendments to formulate effective cannabis regulations.
Democrats, of which Biden is a member, promised to decriminalize marijuana and introduce new cannabis regulations. Everyone had the impression that the Biden administration would legalize and decriminalize marijuana without any delay. However, more than five months of the New Year have passed, and there is no change in federal cannabis legislation. The drug is still under the controlled substance list and remains 100 percent illicit on the federal level.
People and investors are beginning to doubt the Biden administration’s approach towards cannabis regulations. Some are immensely disappointed with the philosophical approach of authorities towards marijuana legislation.
Five Members of Biden Administration Got Fired, People Have Their Concerns
The reason for firing five of the members from the Biden administration is not clear. But it is likely to be associated with their past cannabis use. New cannabis regulations suggest allowing individuals to apply for various jobs or continue a job even if they have used marijuana at any time in their life. However, such legislation has not yet been passed on the federal level.
Firing employees because of their past cannabis habits is not fair. Everyone at least once in their life has used marijuana intentionally or unintentionally. Even president Joe Biden has admitted to using marijuana in his past life. There was a time when the FBI did not hire people with past cannabis use. But the FBI changed its cannabis regulations more than a decade ago and permitted people who no longer use marijuana to apply for jobs in the FBI.
The change in FBI cannabis regulations does not occur over a day. Changes occur over the years and deep debates on national and international levels. Eventually, permission to apply for a job in the FBI requires that as long as you pass the drug test and are not using drugs anymore. Moreover, the FBI has made amendments over the years. The White House shall also consider making new cannabis regulations.
People find this unacceptable and are disappointed in the authorities as they have forced five individuals to leave office because of their past marijuana usage.
The MORE Act
The MORE Act is not yet practiced but is under process. The Marijuana Opportunity Reinvestment and Expungement Act will introduce great cannabis regulations. According to the MORE Act, it is better to remove marijuana from the list of controlled drugs.
Furthermore, it suggests that people who have overcome their habit of cannabis use shall not suffer bullying in society. They shall be given equal rights as any other citizen has. The White House passed this bill. In August 2020, a bill suggesting allowing people to continue their lives without being charged for cannabis use in the past.
Such a bill was in favor of legalizing and decriminalizing marijuana. Does Biden’s perspective on renewing cannabis regulations get affected because of his son’s condition relating to substance use? If so, the president and his administration shall reconsider the cannabis legislation for legalizing and decriminalizing marijuana.
The cannabis industry has great potential and a margin for enhancement or making progress. It will help to generate huge revenue and improve the economy. Biden favors state-level legalization of marijuana. He shall make new cannabis regulations for the federal level too.
Mother Supports Young Irish Boy’s Cannabis Addiction, Spending $590 a Week
An Irish judge is inspecting for punishing a 16-year-old boy for his cannabis habit. The cannabis addict boy had the full support of his mother, who was spending $590 per week to support her boy’s cannabis addiction. The boy got into weed when he was charged with forthcoming a drug search last year.
Teenagers Becoming Cannabis Addicts
Breaking News Ireland reports the teenager appeared this week along with his father in the court, lying in wait for a pre-sentence probation report. Judge Kelly was surprised to know that the young Irish boy’s mother was giving him money to buy weed, supporting his cannabis addiction rather than working on the boy’s rehabilitation.
During an incident in Dublin, the boy was guilty when caught red-handed with a suspected controlled substance in a private area of his underwear. This incident took place in April of 2020 when the boy aged 15.
Since then, Paul Kelly, judge at Dublin Children’s Court, kept an eye on the teenager who was being supervised. The Breaking News reports that the probation service was going well.
Although the probation service was going well, this couldn’t bring a decrease in the judge’s concern about the teenager. The boy was still consuming about $147 on cannabis per week, which has a potential influence on the mental health of the boy.
Judge Paul Kelly looks forward to continuing the probation service and keep the boy under supervision, irrespective of the Probation Service’s suggestion.
Ireland Bleeding in Cannabis
A commenter to Mary Jane’s Diary notes the consumption of cannabis in Ireland, which shows people paid $37 per gram of weed in 2017. A GrassCity message board reports that people were spending $15 per gram of cannabis in 2015. The Reddit post of 2018 suggests people should get about 3.2 to 3.5 grams of cannabis for $74.
Breaking News states that the boy chose to remain silent when asked about his awareness regarding the impact of cannabis addiction on mental health. Judge Kelly still alerted the boy about the diverse implication of cannabis for the future.
This week, the College of Psychiatrists of Ireland has come up with the issuance of their caution. The psychiatrists from Ireland College state that cannabis addiction has a lethal impact on the mental health of young individuals.
Dr. Gerry McCarney in the college stated that the use of cannabis has a drastic impact on young people, altering their ability to learn, problem-solving, cognitive behavior, and general emotional intelligence. Dr. Gerry McCarney warns individuals that cannabis addiction at young age alters their social behavior.
Cannabis Addiction Skyrocketed Hospital Visits
The college statement shows an incline in the hospital admissions of young individuals with cannabis-related diagnoses and cannabis addiction. An increase of 300 percent of such hospital admissions has been reported between 2005 and 2017. The police impounded 16 percent THC levels in weed. If youngsters use weed weekly or more frequently, one in three young individuals is prone to cannabis addiction.
Breaking News reports that Judge Kelly stated in this week’s court about the teenage boy who had been searching for work that there is a need to address the boy’s cannabis use.
Judge Kelly emphasized spending money to fulfill other necessities of the 16-year-old boy rather than on cannabis that will potentially harm his social life and physical well-being. Cannabis addiction of young people gives birth to a boatload of complications. The judge states that an updated probation report would be awaited in six weeks to address the young boy’s cannabis use.
Marijuana Business Legislation Will Alter in New Jersey
Marijuana business legislation does not allow people of color, minorities, or women to fully and directly participate in cannabis-related businesses. Similar things happen in New Jersey, where Jamel Holley put forward a bill addressing the same subject. Marijuana business legislation and other bills for cannabis are under discussion in different states of the United States.
In New Jersey, marijuana business legislation and bills relating to its possession, sale, and other similar activities are the subjects of committee meetings. The process of making a new law, passing legislation, altering current bills that are in action, and including or excluding instructions from the legislature is not easy and does not occur in a day or two, reported NJToday.
It takes time, sometimes a month or even more than a year. These processes involve political discussions in the House, parliament, and committee. Authorities consider every aspect of a bill represented by any political representative. Marijuana business legislation is also undergoing a similar process. A member of the Democrat union, Jamel Holley, proposes the “New Jersey Cannabis Regulatory, Enforcement Assistance, and Marketplace Modernization Act”.
What Marijuana Business Legislations Will Occur If Jamel Holley’s Bill is Approved?
Jamel Holley’s bill states new regulations for marijuana possession, sales, business activities, and many other changes in current marijuana business legislation. With the approval of the New Jersey Cannabis Regulatory, Enforcement Assistance, and Marketplace Modernization Act, individuals twenty-one years or older will be able to use cannabis easily. Marijuana business legislation will alter, and doing cannabis-related business will be legal within New Jersey.
ALSO READ: Strategies for Branding a Cannabis Business
Individuals aged 21 or above will not face criminal charges for possessing small amounts of cannabis and cannabis resins. The duties of the Cannabis Regulatory Commission will require expansion to implement this bill. It could cause alterations in marijuana business legislation. Cannabis Regulatory Commission will monitor the delivery, sales, cultivation, and manufacturing of weed and weed products. The commission will also regulate final product packaging and transportation of marijuana and cannabis resins.
The Cannabis Regulatory Commission in New Jersey will regulate the usage of marijuana for various purposes and check the contracts between investors and cannabis business owners. Regulating investors’ and owners’ policies is essential for bringing change in marijuana business legislation.
Why Jamel Holley Represented the Bill?
Following current legislation, minorities, women, and disabled dispensary owners are unable to fully manage and expand their cannabis stores. Moreover, the law in practice does not permit individuals to have more than one dispensary or marijuana manufacturing site or cultivation. Passing a bill represented by Jamel Holley in New Jersey doing cannabis business will be easy as it will enable revision of current marijuana business legislation.
Jamel Holley and Reynolds-Jackson represent their proposition. The aim of representing the bill was to bring change in the lives of minorities, women, and vendor cannabis owners who lack investment and are having a difficult time owning the cannabis business.
People of minorities get low wages and cannot generate personal savings from them. Minorities have already suffered due to discrimination against current marijuana business legislation. According to Holley, revising cannabis policies to promote equity and improve the condition of minorities is essential to end the discriminating activities. It would be best if a revision in current policies occurs before legalizing and decriminalizing marijuana in New Jersey.
Under the bill, marijuana business legislation will occur. The bill allows investors to get up to 35 percent interest on their investment in up to seven cannabis dispensaries. Provided that these cannabis dispensaries are owned by women, minorities, or disabled veterans in New Jersey. This will resolve the issue of lack of capital investment and help people to run their businesses.
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