Ever since the adult-use cannabis are legalized, the U.S. cannabis industry has drastically evolved. A total of 11 states and the District of Columbia have legalized recreational use.
Colorado generated total revenues of USD 683.52 Million during its first year of legalization in 2014. The state has reported total marijuana sales of USD 1.31 Billion. Massachusetts, which is a much smaller marketplace, reported USD 138.9 Million in the six full months of operations.
The staggering revenue margins are a direct result of Colorado’s early adoption in comparison to Massachusetts’ more recent foray into the industry. To put Colorado’s cannabis market into perspective, there were 364 dispensaries in the city of Denver alone in 2018. Among the 364 dispensaries, 169 locations were recreational or “retail marijuana stores,” while 195 were medical dispensaries.
Overall, the number of dispensaries in Denver was more than triple all of the Starbucks and McDonald’s in the city, 111. Meanwhile, Massachusetts had 25 recreational dispensaries in operation as of August 2019.
As more people begin to explore the cannabis marketplace, the industry is positioned to experience substantial growth in the shortcoming future. The total sales of recreational cannabis are anticipated to account for USD 18.1 Billion to USD 22.0 Billion, while medical cannabis is expected to account for USD 6.9 Billion to USD 8.4 Billion.
The overall growth of recreational market sales signals that more states could be moving towards legalizing adult-use, while existing legal regions are seeing their consumer base continually grow.
The recreational market revenue is attributable to the number of dispensaries that are constantly emerging throughout the U.S. as well as e-commerce platforms. E-commerce platforms are becoming highly popular because consumers can simply receive their products at their door steps.
The e-commerce platforms create a speedier process by allowing consumers to shop at the convenience of their homes, digitally pay for the purchase, and then have them delivered. Meanwhile, online portals can receive consumer payments digitally, eliminating the need to pay upfront at the store.
Tim Sultan of the Arizona Dispensaries Association said that they would like to see a solution to cash management problem. He added, “There’s just too much cash in the industry because banks can’t do business with us. We have dispensary owners paying their employees with cash, paying their vendors, paying their electric bills, going to APS with thousands of dollars, paying their taxes with tens of thousands of dollars cash, and just feeling really nervous walking up there with a bag full of cash.”
iAnthus Capital Holdings, Inc. announced a total of nine dispensaries in Florida and its system-wide total to 27. Hadley Ford, Chief Executive Officer of iAnthus said, ” Florida has an exciting and rapidly growing market. We’ve opened six locations in eight weeks and will continue to expand both our dispensary footprint and our product offerings.”
Global Payout, Inc. announced yesterday that, “their Third Quarter Disclosure has been published on OTC Markets and shows a significant increase in revenue over Q2 of this year. Gross revenue nearly tripled and net revenue more than doubled over the previous quarter.” Global Payout, Inc. is a leading provider of comprehensive and customized prepaid payment solutions. The Company plans to focus the remainder of the year on continued efforts in banking, software developments, and system enhancements.
Can Pot-Based Mouth Spray Treat Brain Tumors
Pot-based products have been used to treat multiple diseases, but will a cannabis-based mouth spray effectively treat brain tumors? It is yet unclear how and to what extent a mouth spray made by using constituents of the plant marijuana can help in treating neurological tumors.
Medical cannabis has reduced symptoms of diseases or limit their progression. In some pathological and neurological conditions, medical cannabis products effectively cure patients. However, pot is a controlled substance under federal law of the United States. Thus, its use is limited, and medical pot dosage frequency is kept low.
Researchers desire to investigate pot plants and their products to know their therapeutic value, efficacy, and safety profile. A major UK trial will analyze the effectiveness of an oral pot-based mouth spray in curing the most aggressive form of brain tumors.
Brain Tumors And Medical Pot Products
The Brain Tumor Charity organization funds many research projects. There are various types of brain tumors; some are malignant, and others are benign. Neurological conditions are difficult to treat; some are treatable, and others have no cure. Researchers are trying to find the role of different substances such as pot in treating neurological conditions, including cancers.
Glioblastoma is a type of the most aggressive form of brain tumor. The symptoms of this disease include headaches, loss of appetite, balancing issues, problems while speaking, mood swings, and memory problems. Patients with glioblastoma may also experience trouble walking, nausea, vomiting, behavioral alterations, personality changes, sensation changes, difficulty concentrating, vision changes, and weakness.
The UK trial aims to find the effectiveness of an oral spray Sativex in curing the glioblastoma of patients of different ages. Inpatients are diagnosed with the most aggressive type of brain tumor after laboratory testing through CT-SCAN and MRI results.
Patients also undergo magnetic resonance spectroscopy, needle biopsy, blood, or other tests, to confirm tumor size and progression. Glioblastoma is a cancer of astrocytes cells that carry nutrients to nerve cells. It is the most common type of tumor in adults and develops quickly. It also spreads at an exponential speed and is almost never cured.
The UK phase I trial has shown that a pot-based oral spray, when given with chemotherapy, can treat the most aggressive forms of brain tumors. Tumors in patients with glioblastoma have rating on a scale of 1 to 4, depending upon their progression or growth rate. From grade 1 to 4, the growth rate of cancer increases. Grade 1 has the lowest growth rate, and grade 4 has the most aggressive progression speed.
The UK trial phase I study involving 27 patients with different graded glioblastoma show promising results.
Survival Impact Of Cannabis-based oral Spray
In the UK trial phase, I show that patients with brain tumors who receive Sativex survive more than a year than those who get a placebo. Currently, Setivax is applicable in the treatment of multiple sclerosis. The drug has been part of various types of research. Earlier this year, the pot-based spray use occur in combination with chemotherapy in the UK phase I trial. The drug has the potential to increase the survival rate. However, there is not enough evidence indicating its survival impact.
A three-year trial called ARISTOCRAT will likely confirm Sativex’s survival impact. It will begin in early 2022. Also, two hundred and thirty patients across the UK will recruit, and Professor Susan Short from the University of Leads will lead the trial.
The Brain Tumor Charity organization is funding the trial to determine the survival impact of pot-based mouth spray on brain tumors. The Cancer Research UK Clinical Trials Unit at the University of Birmingham will also co-ordinate the study.
After gathering sufficient data from various investigations, the role and impact of pot-based mouth spray on brain tumors will become clear.
Originally covered on: healtheuropa
Children In Danger Of Cannabis Poisoning After Pot Legalization
Pot legalization and decriminalization are the new trends, but people have concerns about cannabis’s effects on children. Moreover, studies are indicating that cannabis use in adolescence can cause brain development abnormalities.
There has been a significant increase in children’s marijuana poisoning cases unintentionally. The acceleration in pot poisoning cases in Canada became evident after the pot legalization.
Research On Cannabis Poisoning In Kids
Research was conducted in the Hospital for Sick Children (SickKids) in Toronto. Dr. Yaron Finkelstein is the Staff Physician, Pediatric Emergency Medicine, Clinical Pharmacology, and Toxicology at SickKids. Finkelstein led the research.
According to the research, unintentional pot poisoning in children under 12 years old has increased four times. Moreover, in the first two years after legalization number of patients admitted into the intensive care unit due to severe marijuana poisoning increased three times.
The research also indicates that the overall number of patients admitted due to cannabis intoxication in the SickKids Emergency Department (ED) remained in the same pre- and post-legalization periods. The results of the research findings were published in the peer-reviewed journal Clinical Toxicology.
The researchers noted cannabis association for Emergency Department visits, intensive care unit admissions, and hospitalization at the Hospital for Sick Children. A comparison of these factors before the time of marijuana legalization and after the passing of the bill occurred as part of the study. Doing so helps in analyzing the impact of pot legalization.
According to Dr. Yaron Finkelstein, cannabis intoxication is uncommon in adults. However, in kids marijuana intoxication can have lethal effects, including seizures, behavioral changes, and respiratory depression, and can even lead to coma. It can cause coordination issues and problems with balancing.
More About Child Poisoning After Cannabis Legalization
According to researchers, the elevation in cannabis intoxication cases occurs due to increased exposure to marijuana products. After legalization accessing pot, products have become easy for almost every individual. Children also feel attracted to marijuana products, and these items are popular in kids.
Usually, children consume pot in the form of edible products that cause poisoning in them. It is difficult for health care professionals to know about the amount children have consumed. It causes difficulty in anticipating the severity of intoxication and the extent to which pot ingestion can damage other body organs.
What Can Be Done To Avoid Pot Intoxication?
Dr. Yaron Finkelstein elaborating on the situation suggests people be careful of cultivating and consuming various pot products. Particularly, if there are children in your house. Weed users must keep pot products out of the reach of children in a safe place.
ALSO READ: Cannabis Use Trending In Women More Than Men
The research team and other experts at SickKids believe that creating awareness among individuals about pot products is essential. People must learn about the potentially harmful effects of cannabis on children. Doing so can help to avoid intoxication cases and pot-associated unintentional poisoning incidents.
Creating awareness among individuals will encourage pot users to store cannabis recreational and medical products in a secure place away from kids. If a person keeps edible marijuana products at home, it is best to keep them far from other edibles. Children can mistake edible weed products for simple sugars, gummies, and candy.
Dr. Yaran Finkelstein is a professor at the Departments of Pediatrics and Pharmacology and Toxicology at the University of Toronto. According to Finkelstein, during the coronavirus pandemic situation, people are forced to stay at home. The majority of people consume pot products in their homes with their families.
It is high time to educate marijuana users to keep pot products away from other foods and drinks to prevent unintentional cannabis intoxication in children. Also, store your pot products in a tightly closed container, in a safe and secure place away from other edible products.
Green Signal For Recreational Cannabis In Central Avenue
Recreational cannabis and medical marijuana are legal in Albuquerque city. The city council is preparing drafts and making decisions to implement marijuana legalization and decriminalization bills.
Various suggestions are given during a discussion session. Some of these are accepted by the Albuquerque council, while others are not. The decision regarding the development of new recreational cannabis stores, allowing marijuana involving business actions and other matters occurred in the City Council on Thursday.
Albuquerque Approach Towards Recreational Cannabis
On Thursday, Albuquerque City Council rejected a series of proposals that would have resulted in restricting the recreational cannabis industry. Moreover, these proposals could limit the business hours of marijuana involving activities.
According to the proposal, marijuana shops on most of Central Avenue and other main streets can only operate for specific hours. However, as the Council rejects these proposals, people can open recreational cannabis shops and do business as any other shop does.
The administration of Mayor Tim Keller proposes that each recreational cannabis retailer or marijuana dispensary shall be at a 1000 feet away from one another. Adult retailers and adult entertainment shall also be at a distance of 1000 feet from each other.
The proposal was part of the annual zoning code update. However, the Albuquerque City Council refuses to implement this proposal. Allowing people to open recreational cannabis wherever they desire legally.
Moreover, the ban suggested by Cynthia Borrego was declined. Thus, people can open cannabis shops or medical dispensaries within 300 feet of a religious institution.
Certain Obligations And Limitations
The City Council devoted six hours to discussing how to implement recreational cannabis laws and pass development ordinance about the subject. According to approved regulations, there must be 600 feet between marijuana retailers. If operators get approval for conditional use after the public process, then distance maintenance is not an issue.
In order to promote equity, the microbusiness of recreational cannabis and medical pot products are to follow different rules than mega businesses. Microbusinesses can get sponsors and locations with more customer access. This way micro-businesses will have an equal chance of making progress equally as already established cannabis business dealers.
The council approved recreational cannabis-involved regulations as part of the IDO’s updated bill. The IDO bill has other non-marijuana ordinances. As per the new version of the IDO bill, the number of liquor and nicotine shops has reduced.
Amendments and changes regarding recreational cannabis got the approval of the City Council via 6-3 voting. Other ordinances passed by the City Council include allowing medical marijuana providers to continue medical pot involving activities in their licensed locations. Moreover, they can expand their business by beginning recreational marijuana involving activities.
Remarks Of Councilors On Limitations
According to many councillors, it is not appropriate to impose limitations on business hours. Moreover, it is not acceptable to ask recreational cannabis retailer’s to not open any shop in major places, including Central Avenue, San Pedro, Fourth Street, Bridge, and Broadway.
Councillor Pat Davis suggested that it is not sensible to put limitations on legal business or ask not to operate on Central. Thus, the council refuses to accept the proposal of limiting business hours and not allowing commercial activities in famous places.
Councillor Trudy Jones welcomes business owners to do recreational cannabis involving activities and assure to solve their problems. Official members of the administration of Keller said that timely discussion of cannabis implementation saves the city from possible unwanted struggles.
Mike Puelle suggests in a written statement to take prompt action and design implementation rules. Councillors Sena, Klarissa Pena and Borrego were not in favour of the updated IDO ordinances. According to Sena, the city council rushes to decide on recreational cannabis. She also shared concerns about big business taking over the market even before small business individuals can get market entry. According to Sena, it would have been better to make the right decision than to be sorry later.
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