Texas Medical Cannabis – Market Statistics Update November 2023 (available on TexMed App – TexMedCannabis.com)

Texas Medical Cannabis – Market Statistics Update November 2023 (available on TexMed App – TexMedCannabis.com)

The Texas Department of Public Safety’s latest data for November 2023 provides an impactful snapshot into the state of Texas medical cannabis landscape. These statistics unveil a perspective on large patient and limited physician growth, as well as the current state of accessibility within the Lone Star State.

Patient Growth:
In November 2023, Texas witnessed an increase in registered patients, reaching a total of 70,835. This marks a notable 3% growth from the previous month, showcasing the state’s sustained momentum in medical cannabis sign ups. Comparing this figure to the same month in the previous year, the patient count has surged by an impressive 72%, indicating a robust upward trend in demand that has created the hockey stick shape below.

Texas Medical Cannabis Patient Count Nov 2023. TexMed by YesCannabis.

Physician Registration:
The state’s physicians that prescribe medical cannabis has also experienced growth, with 772 registered physicians documented in the latest November data. This represents a steady 1% increase from the previous month, reflecting ongoing engagement and interest among healthcare professionals. Over the past year, the number of registered physicians has seen a substantial 18% growth, indicating positive trends in attracting and retaining medical practitioners.

Texas Medical Cannabis Doctor Count. TexMed by YesCannabis.

Patient-to-Physician Ratio:
The patient-to-physician ratio currently stands at 92 patients per physician. This ratio has grown by 2% from the previous month, underscoring the increased demand for healthcare services. Over the past year, there has been a significant 46% growth in the patient-to-physician ratio, emphasizing the ongoing challenges in healthcare access and the importance of optimizing the distribution of medical resources.

Access to Medical Products:
A striking observation pertains to the limited access to medical products for the 70,835 registered patients. Presently, only three active companies facilitate access, with fewer than 30 locations available for patients who actively participate in the program. This highlights a significant gap in accessibility and emphasizes the pressing need for broader availability and increased options for patients to ensure comprehensive and effective healthcare delivery.

Relative Scale:
In a state as vast as Texas, boasting a population of 30,000,000, the 70,835 registered medical cannabis patients constitute only 0.2% of the total population. This statistic serves as a compelling reminder of the considerable potential for further expansion and development in the state’s medical cannabis program. The relatively low percentage underscores the opportunity to enhance outreach efforts, engage more residents, and address the healthcare needs of a larger portion of the population.

November 2023 data showcases positive trends in patient and physician growth, highlighting the need for ongoing efforts to enhance medical cannabis healthcare infrastructure, accessibility, and the availability of medical cannabis products in Texas.

Comparison with Florida Medical Market

Florida’s Growing Patient Count

At the end of 2022, Marijuana Policy Project (MPP) reported that Florida had 831,775 registered patients, making up 3.74% of the state’s population. This highlights the increasing acceptance of medical cannabis as a viable treatment option.

Extensive Dispensary Network

To cater to this demand, Florida has 501 active dispensaries, operated by 22 different companies, with more on the way. This shows the competitive nature of the industry and ensures patients have convenient access to their prescribed treatments.

Florida’s Medical Cannabis Program is thriving, with a significant patient count and a robust dispensary network, exemplifying the program’s success and the growing role of medical cannabis in the state’s healthcare landscape.

 

News on the latest application round

More than 130 applications have been submitted to the Texas Department of Public Safety for vertically integrated medical marijuana dispensaries, marking a significant response since the reopening of applications in January after a four-year hiatus.

Despite a recent bill to expand the state’s medical marijuana program stalling in the Senate, the DPS reports no current plans for usage law expansion, emphasizing their commitment to ensuring statewide access to low-THC cannabis for registered patients. For further details, visit KVUE.

 

 

Watch the TexMed APP launch video on YouTube

If you’re looking to stay in tune with the Texas Medical market, please check out TexMedCannabis.com

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Major Corporations Investing in Cannabis

As cannabis legalization continues to spread across the country, major corporations are increasingly taking notice and investing in the industry. In April of 2023, a major beverage company announced a $100 million investment in a cannabis-infused drink startup, signaling the growing trend of large corporations entering the cannabis space.

A Look at How California Celebrates Legalization of Recreational Cannabis

California, the first state to legalize medical marijuana over two decades ago, has now taken a significant step forward by legalizing recreational marijuana for adults aged 21 and older. As the most populous state in the United States, this move marks a significant development in the nationwide trend toward marijuana legalization. However, the federal government still classifies marijuana as a controlled substance, highlighting the ongoing conflict between state and federal laws. This article explores the implications of this momentous decision and the challenges that lie ahead for California.

NCAA Medical Committee Calls for End to Cannabis Penalties for College Athletes

In a significant and up-to-date policy shift, the NCAA (National Collegiate Athletic Association) medical committee has recommended that college athletes should no longer face penalties for using cannabis. This progressive stance reflects the evolving landscape of cannabis regulations across the United States. The committee has firmly asserted that drug testing efforts should be redirected towards detecting performance-enhancing substances, leaving cannabis use without punitive measures. This recommendation comes after the committee conducted a thorough review of existing policies and solicited input from member organizations. It anticipates that the final decision on this matter will be made in the fall, following consultations and legislative processes within each of the NCAA’s governing bodies.

Revolutionary Shift: US Health Department Proposes Reclassifying Marijuana from Schedule I to Schedule III

In a groundbreaking move that has the potential to reshape the landscape of cannabis regulations, the U.S. Department of Health and Human Services (HHS) has taken a bold step by formally recommending the reclassification of marijuana from Schedule I to Schedule III under federal law. This historic decision signifies a seismic shift in perspective, indicating that the nation’s premier health agency no longer views cannabis as a substance with high abuse potential and zero medical value.

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Texas Medical Cannabis – Market Statistics Update November 2023 (available on TexMed App – TexMedCannabis.com)

Texas Medical Cannabis – Market Statistics Update October 2023 (available on TexMed App – TexMedCannabis.com)

The Texas Department of Public Safety’s latest data for October 2023 provides an intriguing snapshot of the state’s healthcare landscape. These statistics unveil a nuanced perspective on patient and physician growth, as well as the current state of medical accessibility in the Lone Star State.

Patient Growth:
In October 2023, Texas witnessed an increase in registered patients, reaching a total of 68,611. This marks a notable 4% growth from the previous month, showcasing the state’s sustained momentum in healthcare utilization. Comparing this figure to the same month in the previous year, the patient count has surged by an impressive 76%, indicating a robust upward trend in healthcare engagement.

Physician Registration:
The state’s physician roster has also experienced growth, with 765 registered physicians documented in the latest data. This represents a steady 1% increase from the previous month, reflecting ongoing engagement and interest among healthcare professionals. Over the past year, the number of registered physicians has seen a substantial 19% growth, indicating positive trends in attracting and retaining medical practitioners.

Patient-to-Physician Ratio:
The patient-to-physician ratio currently stands at 90 patients per physician. This ratio has grown by 2% from the previous month, underscoring the increased demand for healthcare services. Over the past year, there has been a significant 48% growth in the patient-to-physician ratio, emphasizing the ongoing challenges in healthcare access and the importance of optimizing the distribution of medical resources.

Access to Medical Products:
A striking observation pertains to the limited access to medical products for the 68,611 registered patients. Presently, only three active companies facilitate access, with fewer than 30 locations available for patients who actively participate in the program. This highlights a significant gap in accessibility and emphasizes the pressing need for broader availability and increased options for patients to ensure comprehensive and effective healthcare delivery.

Relative Scale:
In a state as vast as Texas, boasting a population of 30,000,000, the 68,611 registered patients constitute only 0.22% of the total population. This statistic serves as a compelling reminder of the considerable potential for further expansion and development in the state’s medical program. The relatively low percentage underscores the opportunity to enhance outreach efforts, engage more residents, and address the healthcare needs of a larger portion of the population.

October 2023 data showcases positive trends in patient and physician growth, highlighting the need for ongoing efforts to enhance healthcare infrastructure, accessibility, and the availability of medical products in Texas.

Comparison with Florida Medical Market

Florida’s Growing Patient Count

At the end of 2022, Marijuana Policy Project (MPP) reported that Florida had 831,775 registered patients, making up 3.74% of the state’s population. This highlights the increasing acceptance of medical cannabis as a viable treatment option.

Extensive Dispensary Network

To cater to this demand, Florida has 501 active dispensaries, operated by 22 different companies. This shows the competitive nature of the industry and ensures patients have convenient access to their prescribed treatments.

Florida’s Medical Cannabis Program is thriving, with a significant patient count and a robust dispensary network, exemplifying the program’s success and the growing role of medical cannabis in the state’s healthcare landscape.

 

News on the latest application round

More than 130 applications have been submitted to the Texas Department of Public Safety for medical marijuana dispensaries, marking a significant response since the reopening of applications in January after a four-year hiatus.

Despite a recent bill to expand the state’s medical marijuana program stalling in the Senate, the DPS reports no current plans for usage law expansion, emphasizing their commitment to ensuring statewide access to low-THC cannabis for registered patients. For further details, visit KVUE.

 

 

Watch the TexMed APP launch video on YouTube

If you’re looking to stay in tune with the Texas Medical market, please check out TexMedCannabis.com

EXPLORE MORE NEWS

Major Corporations Investing in Cannabis

As cannabis legalization continues to spread across the country, major corporations are increasingly taking notice and investing in the industry. In April of 2023, a major beverage company announced a $100 million investment in a cannabis-infused drink startup, signaling the growing trend of large corporations entering the cannabis space.

How to Calculate the THC Content in Your Cannabis-Infused Recipes

If you are someone who loves cooking and is also a fan of cannabis, then cannabis-infused recipes might be something that you enjoy. However, it is important to calculate the THC content in your cannabis-infused recipes to ensure that you are consuming the right dosage. In this article, we will guide you through the process of calculating the THC content in your cannabis-infused recipes with the help of Yes Cannabis.

Cannabis in the Wild: Exploring Natural Growth and its Impact on Markets in the United States

Cannabis, a versatile plant with a long history of human cultivation, has been making headlines in recent years. While it’s commonly associated with recreational use and medicinal properties, one intriguing aspect is its natural growth in certain regions of the United States. This article delves into the science behind the cannabis plant and why specific regions are more hospitable to its growth. It also explores the implications of natural cannabis growth on the current markets, encompassing economic opportunities, genetic diversity, regulatory challenges, and environmental impact.

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Ohio Joins Ranks of Legal Cannabis States as Issue 2 Passes with 57% Voter Approval

Ohio Joins Ranks of Legal Cannabis States as Issue 2 Passes with 57% Voter Approval

In a groundbreaking decision, Ohio has officially become the 24th state to legalize adult-use cannabis. With a resounding 57% of voters supporting the ballot proposal known as Issue 2, this victory marks a significant shift in the landscape of U.S. states where recreational marijuana is legal. This landmark decision paves the way for individuals aged 21 and older to purchase and possess up to 2.5 ounces of cannabis while also permitting home cultivation of up to six plants per person and 12 plants per residence if at least two adults reside there. Furthermore, a 10% tax will be levied on cannabis purchases, with the revenue allocated to cover administrative costs, addiction treatment programs, municipalities with dispensaries, and social equity initiatives and job programs.

The passing of Issue 2 signifies that the United States is just one state away from having adult-use cannabis legalized in half of the states. The National Organization for the Reform of Marijuana Laws (NORML) notes that the legal cannabis movement has already reached a tipping point in terms of population, marking a significant milestone in the ongoing process of loosening cannabis laws in the country. NORML Deputy Director Paul Armentano emphasized, “Today, for the first time since the federal government initiated federal cannabis prohibition in 1937, more people live in a place where marijuana is state-legal than reside somewhere where it isn’t. It borders on political malpractice for elected officials, and for Republican lawmakers especially, to sit on the sidelines at a time when more Americans than ever are demanding action.”

However, it’s worth noting that not all parties were in favor of this progressive change. Republican Governor Mike DeWine voiced his opposition to the measure, and the GOP-led Ohio Senate passed a resolution encouraging voters to reject the initiative, albeit unsuccessfully. Senate President Matt Huffman has expressed his intent to “revisit” provisions of the new law, hinting at possible legislative changes and even a repeal of the adult-use provisions.

Despite these efforts, the outcome of the vote clearly favored those supporting legal cannabis. According to the New York Times election results tracker, 57% of voters approved Issue 2, while only 43% opposed it.

The passage of Issue 2 was not entirely unexpected, as it was driven by the Coalition to Regulate Marijuana Like Alcohol. Prior to the vote, the organization managed to raise more than three times the funding amassed by the opposition group, Protect Ohio Workers and Families.

Businesses across Ohio are now gearing up to embrace the new adult-use cannabis law. NORML predicts that retail cannabis products will be subject to a 10% tax, with anticipated annual tax revenue ranging from $276.2 million to $403.6 million by the fifth year of sales. An additional analysis estimates that the law will create 3,300 new jobs within the first year of legalization.

Various figures within the cannabis industry have expressed their support for this groundbreaking decision in Ohio. Ben Kovler, CEO of Green Thumb Industries, highlighted the historic significance of the vote, saying, “Today marks another historic moment for the cannabis industry and for Ohio, as voters have chosen to end Prohibition 2.0 in the Buckeye State. This vote is not just about legalization; it’s a recognition that Americans are continuing to embrace cannabis for well-being.”

LeafLink, a company operating in 30 markets across the U.S., including Ohio, commended the decision, noting that the legalization of adult-use cannabis in Ohio presents a remarkable opportunity for the state. Rodney Holcombe, LeafLink’s Director of Policy, stated, “This vote presents a tremendous opportunity for the state where legal adult-use sales are projected to exceed $1 billion annually. We have witnessed firsthand the positive impact of legalized cannabis, including job creation, tax revenue for vital government services, and unique business opportunities for entrepreneurs. We urge Ohio officials to promptly enact the law, allowing their constituents to reap these benefits without delay.”

Timeless, a company specializing in concentrates in Ohio, also celebrated the outcome. Joshua Hirschey, President at Timeless Refinery, emphasized the potential economic benefits for the state, stating, “The vote to legalize cannabis in Ohio is a huge win for consumers who have let their voices be heard, as well as a win for the state with the potential to bring in $260M in additional tax revenue, and for operators like Timeless who will be able to serve a wider demographic.”

BDSA, a leading provider of market intelligence for the cannabis industry, expressed its commitment to providing insights for the evolving Ohio cannabis market. Roy Bingham, co-founder and CEO of BDSA, highlighted Ohio’s emerging importance in the cannabis industry, citing the state’s unique regulatory environment and growing acceptance of medical cannabis.

In addition to the legalization of adult-use cannabis, Issue 1, Ohio’s bill designed to protect the right to abortion, was also approved. Provisions in the cannabis law allowing the possession and home cultivation of marijuana by adults will take effect on December 7th, ushering in a new era for cannabis enthusiasts in Ohio.

Source: High Times

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Major Corporations Investing in Cannabis

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New Jersey Cannabis Regulators Propose New Permits to Facilitate Research Partnerships with Dispensaries

New Jersey’s cannabis regulatory authorities are currently open to public feedback regarding an innovative proposal aimed at introducing a novel permit. This permit would enable “clinically focused” dispensaries to collaborate with research institutions, facilitating comprehensive studies on cannabis using the products they cultivate and sell to patients.

Cultivating Sustainability: Harnessing Solar Power for a Greener Cannabis Industry

In the quest for sustainability, the cannabis industry has emerged as an unlikely candidate for the adoption of solar power solutions. The cannabis cultivation sector, driven primarily by indoor growing facilities, has historically been associated with high energy consumption and significant carbon footprints. However, as the industry matures and faces mounting pressure to reduce its environmental impact, solar power is increasingly being recognized as a game-changer in the pursuit of greener, more sustainable cannabis production.

Cannabis Unveiled: Exploring the Wellness Benefits of a Green Revolution

Cannabis once shrouded in controversy and stigma, is experiencing a remarkable transformation in public perception and legal status. Beyond its recreational use, cannabis is increasingly being recognized for its potential health and wellness benefits. This article delves into the world of cannabis and explores the various ways it can contribute to our well-being, including pain management, stress relief, and sleep aid. We’ll also discuss the growing presence of cannabis in alternative medicine and the emerging trends within the wellness industry.

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Historic Milestone: Georgia Becomes First State to Allow Medical Cannabis Sales in Hundreds of Pharmacies

Historic Milestone: Georgia Becomes First State to Allow Medical Cannabis Sales in Hundreds of Pharmacies

In a groundbreaking development, the Georgia Board of Pharmacy has opened its doors to applications from nearly 120 pharmacies looking to provide medical marijuana products. This historic move makes Georgia the first state in the nation to permit the sale of low-dose cannabis within independent drug stores.

The implementation of the pharmacy rule, which extends medical marijuana sales to drug stores, promises to significantly enhance patient access. Up until now, the state has been served by only seven dispensaries, leaving patients with conditions such as Parkinson’s disease, seizures, terminal cancers, and PTSD with limited options.

The exclusive suppliers for these pharmacies will be the state’s only two licensed cannabis producers: Botanical Sciences LLC and Trulieve Cannabis Corp. These two companies were the first to receive approval earlier this year to cater to registered medical cannabis patients in Georgia.

Gary Long, CEO of Botanical Sciences, expressed his enthusiasm for this development, stating, “Pharmacists have been fielding questions from patients for years without ever having the ability to do anything about it. Finally, they have the ability not just to give people advice but provide them with the therapies they’ve been seeking.”

Georgia boasts more than 400 independent pharmacies, and the majority of them are expected to participate in this program. National chains such as CVS and Walgreens are the notable exceptions, as confirmed by Cecil Cordle, a member of the Georgia Board of Pharmacy.

This initiative is poised to bring convenience to the lives of Georgians, with approximately 90 percent of the state’s population residing within a 30-minute drive of a pharmacy offering medical marijuana products, according to reports.

Andrew Turnage, executive director for the Georgia Access to Medical Cannabis Commission, hailed the pharmacy rule as “definitely big news” and emphasized its benefits for both licensees and, most importantly, patients. He remarked, “It will put access in virtually every county in the state.”

Addressing the number of medical marijuana patients in Georgia, a recent revelation by the Georgia Department of Public Health stirred up some controversy. It was disclosed that the department had miscounted and overstated the count of registered medical marijuana patients. The accurate figure currently stands at just 14,000 active patients and caregivers, a far cry from the previously reported 50,000.

Source: Benzinga

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Elevating Cannabis Brands: The Path to Luxury Through Sensory Science and Consumer-Accessible Branding

Cannabis brands are currently at a crossroads, faced with a critical decision: whether to steer their product towards becoming a luxury consumable or an affordable agricultural commodity. While the trajectory of the cannabis market seems destined to evolve into a luxury goods industry, akin to wine and spirits, the foundations of such luxury brands in other markets were built over years of engagement between consumers, connoisseurs, and producers. To successfully market cannabis products as luxury items, a concerted effort towards well-defined, consumer-accessible branding is required.

A Look at How California Celebrates Legalization of Recreational Cannabis

California, the first state to legalize medical marijuana over two decades ago, has now taken a significant step forward by legalizing recreational marijuana for adults aged 21 and older. As the most populous state in the United States, this move marks a significant development in the nationwide trend toward marijuana legalization. However, the federal government still classifies marijuana as a controlled substance, highlighting the ongoing conflict between state and federal laws. This article explores the implications of this momentous decision and the challenges that lie ahead for California.

Blue Dream’s Two Decades of Influence: Unraveling the Origins and Impact

From Haze to Skunk, OG to Cookies, the cannabis market has been shaped by remarkable strains that encapsulate their respective eras. Among them, Blue Dream emerged as a defining cultivar around 2003, reigning until approximately 2011 when shifting market preferences opened the door for a new strain to take the spotlight. As we commemorate two decades of Blue Dream’s legacy, it’s intriguing to note that despite its celebrated status as the “most popular strain on the planet” at one point, there remains a surprising shroud of uncertainty surrounding its true origins and characteristics.

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New York Expands Legal Cannabis Industry and Cracks Down on Illegal Market

New York Expands Legal Cannabis Industry and Cracks Down on Illegal Market

New York has initiated a major expansion of its legal cannabis industry by opening applications for hundreds of new marijuana business licenses. This move follows a slow start, with only about two dozen retailers operating since adult-use sales began last December. The application period will run until December 4, and licenses are expected to be awarded early next year.

Governor Kathy Hochul announced this new application period while emphasizing her administration’s commitment to combating unlicensed marijuana businesses that have proliferated due to delays in the state’s legal rollout. The goal is to accelerate New York’s shift from the underground cannabis market to regulated retailers.

Governor Hochul anticipates a large number of license applicants, aiming for over 1,000 legal cannabis shops within the next year. Simultaneously, the Department of Small Business Services in New York City has launched an educational program for cannabis entrepreneurs, offering training and advice from industry leaders through the “FastTrac” program, with applications open until October 18.

Governor Hochul estimated that over 2,000 illegal marijuana stores currently operate in the state, with a significant concentration in New York City. Legal challenges and a slow regulatory process have contributed to this proliferation. However, the governor expressed optimism about overcoming these challenges and achieving a smoother process by the end of the year.

In addition to expanding licenses, New York is intensifying law enforcement efforts against illegal cannabis sellers. Governor Hochul and State Attorney General Letitia James stressed the importance of supporting small businesses and rectifying the harms caused by the “war on drugs.”

Regulatory authorities and lawmakers are actively seeking input to address challenges in the legal cannabis industry, with a focus on social equity and small business opportunities. While there have been some controversial regulatory changes, efforts are underway to expedite consumer access to legal cannabis and provide alternative markets for surplus products from growers.

New York’s efforts to expand its legal cannabis industry and combat the illegal market are progressing. The state aims to transition to a well-regulated industry while prioritizing social equity and small businesses. Challenges remain, and ongoing regulatory adjustments and public input will shape the future of New York’s cannabis industry.

Source: Marijuana Moment

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Major Corporations Investing in Cannabis

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BDSA Adjusts Global Cannabis Sales Forecast Downward by $5 Billion

In a recent update to its global cannabis market forecast, BDSA, headquartered in Colorado, has revised its sales projections. The new estimate anticipates that the industry will reach $55 billion in sales by 2027, representing substantial growth from the $32 billion recorded in 2022.

Here is a map of all the cannabis stores in Arizona 2023

In November 2020, Arizona voters made a historic decision by legalizing recreational cannabis in the state. Since then, the cannabis industry has been on a steady rise, transforming the state’s economic and social landscape. If you’re looking to explore the Green Desert and understand the ins and outs of cannabis shops in Arizona in 2023, you’ve come to the right place. In this comprehensive guide, we’ll take you on a journey through the legal framework, the types of cannabis shops you can find, their geographic distribution, notable brands and products, the customer experience, pricing and taxes, health and safety considerations, and even a glimpse into the future of the industry.

New York Expands Legal Cannabis Industry and Cracks Down on Illegal Market

New York has initiated a major expansion of its legal cannabis industry by opening applications for hundreds of new marijuana business licenses. This move follows a slow start, with only about two dozen retailers operating since adult-use sales began last December. The application period will run until December 4, and licenses are expected to be awarded early next year.

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Cannabis Companies Launch Lawsuit Against Attorney General to Challenge Federal Prohibition

Cannabis Companies Launch Lawsuit Against Attorney General to Challenge Federal Prohibition

A coalition of cannabis businesses, represented by a prominent law firm, has initiated a long-awaited legal action against the U.S. attorney general. Their goal is to prevent the federal government from enforcing cannabis prohibition in states where it’s been legalized. These companies argue that maintaining prohibition in state-regulated markets is unconstitutional, endangering public safety and preventing licensed cannabis businesses from accessing essential financial services and tax benefits available to other industries.

The lawsuit was formally filed in the U.S. District Court for the District of Massachusetts, Western Division. It was brought forward by Verano Holdings Corp., a multi-state operator, alongside Massachusetts-based cannabis companies, Canna Provisions and Wiseacre Farm, and Treevit CEO Gyasi Sellers. Notably, Ascend Wellness Holdings, TerrAscend, Green Thumb Industries, Eminence Capital, and Poseidon Investment Management are “foundational supporters” of this legal challenge.

The plaintiffs are being represented by the law firms Boies Schiller Flexner and Lesser, Newman, Aleo & Nasser LLP. David Boies, the chairman of the former firm, has represented clients such as the Justice Department, former Vice President Al Gore, and parties involved in the case that led to the overturning of California’s same-sex marriage ban.

The lawsuit contends that while Congress originally implemented a cannabis ban through the Controlled Substances Act (CSA) to curb interstate commerce, which ostensibly gave the federal government a legal basis to enforce prohibition at the state level, lawmakers and the executive branch have since abandoned that mission as more states have embraced cannabis legalization.

The complaint argues, “Despite these changes, the federal criminal prohibition on intrastate cannabis remains in place, an unjustified vestige of a long-abandoned policy. This unjustified intrusion of federal power harms Plaintiffs, threatens the communities they serve, and lacks any rational purpose.”

The lawsuit highlights that even though the federal government has adopted a largely hands-off approach to cannabis in recent years, state-licensed cannabis businesses continue to face unique financial challenges. These include a lack of access to banking services, credit cards, and federal tax deductions, specifically under IRS code 280E. Because of these limitations, state-regulated cannabis businesses are forced to rely heavily on cash, leading to significant public safety risks and making them targets for robberies.

The lawsuit further argues that the existing federal ban on cannabis, as outlined in the CSA, constitutes an unconstitutional encroachment on state sovereignty. It contends that Congress has the authority to regulate cannabis in interstate commerce but lacks the constitutional power to regulate it when it’s grown, transported, and distributed intrastate.

The lawsuit delves into the history of cannabis laws in the United States, highlighting that prohibition is a relatively recent policy shift following over a century of legal use and cultivation to some extent. It also points out that the original justification for banning cannabis under the CSA, aimed at preventing interstate commerce, no longer applies.

The legal action is taking place as the Drug Enforcement Administration (DEA) reviews cannabis scheduling following a recommendation by the U.S. Department of Health and Human Services (HHS) to move cannabis from Schedule I to Schedule III under the CSA. While rescheduling could address certain tax-related issues for the industry, it wouldn’t fully legalize cannabis or permit intrastate commerce.

This lawsuit is significant for the cannabis industry, particularly for smaller businesses that have suffered from the unequal treatment and financial burdens caused by the federal government’s policies. The plaintiffs hope to set a new precedent that will allow states to regulate and support cannabis businesses under their own guidelines. The legal battle is expected to proceed, with the possibility of reaching the Supreme Court in the near future, potentially leading to a permanent change in how the federal government handles cannabis.

Source: Marijuana Moment

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Major Corporations Investing in Cannabis

As cannabis legalization continues to spread across the country, major corporations are increasingly taking notice and investing in the industry. In April of 2023, a major beverage company announced a $100 million investment in a cannabis-infused drink startup, signaling the growing trend of large corporations entering the cannabis space.

Cannabis Companies Launch Lawsuit Against Attorney General to Challenge Federal Prohibition

A coalition of cannabis businesses, represented by a prominent law firm, has initiated a long-awaited legal action against the U.S. attorney general. Their goal is to prevent the federal government from enforcing cannabis prohibition in states where it’s been legalized. These companies argue that maintaining prohibition in state-regulated markets is unconstitutional, endangering public safety and preventing licensed cannabis businesses from accessing essential financial services and tax benefits available to other industries.

California Department of Cannabis Control Invests in Expanding Licensed Cannabis Retail

The Department of Cannabis Control (DCC) has recently announced an exciting development in California, focused on expanding access to licensed cannabis retail. A total of 18 local jurisdictions have been selected to receive funding through a pioneering program that aims to facilitate the establishment of cannabis retail licensing pathways. This funding will not only enhance consumer access to cannabis products but also provide crucial support to equity operators, promoting a more equitable and inclusive legal cannabis market.

Cannabis Industry Insights: Navigating Legalization, Market Growth, and Emerging Trends

Setting the stage, it’s important to note that 24 U.S. states have legalized both Adult-Use and Medical-Use cannabis, 16 states have sanctioned Medical-Use exclusively, and 11 states maintain no legal cannabis market whatsoever. This translates to nearly 75% of Americans, roughly 250 million individuals, residing in states with varying degrees of access to high-THC legal cannabis. According to New Frontier Data’s analysis, the U.S. cannabis market’s legal sales were estimated at approximately $30 billion in 2022, and projections indicate they are poised to surpass $35 billion in 2023.

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