Cannabis News 02/12/2021
Check out this week’s news and updates for updates on developments in the Ohio medical marijuana market, political lobbyists in the cannabis industry, and the Senate’s legalization efforts. Elon Musk also gave his opinion on CBD and you may find it surprising!
Senate Majority Leader Chuck Schumer is leading efforts to legalize cannabis
Senate Majority Leader Chuck Schumer is campaigning for federal marijuana reform to be a priority. He wants to pass a bill in the U.S. Senate by the end of the year that legalizes marijuana but requires 60 senators to vote for it. This can be difficult in a polarized partisan atmosphere. Republican Senators must approve his bill, which can be difficult when there is such intense fighting between Democrats and Republicans in the Senate. Hopefully they can put their differences aside and agree to help Americans by allowing them to use cannabis without criminal prosecution.
Cannabis stocks rose last week after Chuck Schumer met with Senators Cory Booker and Ron Wyden and all three Senators issued a joint statement announcing their commitment to developing a comprehensive law to reform marijuana. It bodes well for cannabis reform that the Senate majority leader is leading efforts to legalize marijuana.
Law to Expand Cannabidiol and Marijuana Research
A bill was reintroduced in the Senate to make it easier for researchers to study marijuana. The Cannabidiol and Marihuana Research Expansion Act would give the US Attorney General 60 days to approve research institutions for the study of cannabis at the federal level.
The bill also allows medical schools, practitioners, research institutions and manufacturers with a Schedule I registration to grow their own cannabis for research purposes. The DEA would be tasked with approving applications for manufacturers to manufacture FDA-approved drugs from marijuana.
The bill would also require Health and Human Services (HHS) to consider the health benefits and risks of cannabis and consider measures to prevent research into marijuana grown in rule of law.
Over the past year, Ohio has seen an exponential increase in cannabis sales. Around 277 million US dollars in sales were achieved, around 80% more than in the previous year. The program has 160,000 registered patients and approximately 700 doctors who are certified to recommend marijuana.
Despite this growth, there is concern that the Ohio marijuana program is not growing as fast as it could. Many patients struggle to reach pharmacies from remote areas of the state and there are less qualified conditions to enable patients to use marijuana. For example, fear is not on the list of states like it is in neighboring Pennsylvania. Pharmacy prices are high and patients struggle to afford the drug, which is a common problem in the United States.
A state politician in Minnesota has tabled a new bill to allow patients who use medicinal cannabis to carry a weapon and legally use a firearm for hunting. Since Minnesota cannabis is still considered a List I substance even though it has been legalized for medical use, its law would convert marijuana into a List II substance so patients can renew their covert weapon permits and hunt. It is imperative that cannabis patients have access to firearms for self-defense and their second right of change.
Kathleen Sebelius joins the Cannabis Lobyist Group
Former Obama Administration Health and Welfare Secretary Kathleen Sebelius is the new co-chair of the National Cannabis Round Table. This organization is essentially a lobby group trying to change marijuana laws at the federal level. It also has former House Speaker John Boehner on the Board of Directors. This shows just how strong the political pull of cannabis lobby groups is. Imagine Kathleen Sebelius is now speaking to President Biden about the need to get off cannabis. It is not an unknown suit that seeks to influence policymakers. She is an experienced politician in the Obama administration and, along with other politicians, will be able to convince Washington to change the federal cannabis ban.
Elon Musk says CBD is fake
In the Joe Rogan Experience, Elon Musk said he doesn’t believe in CBD.
“CBD doesn’t do anything … I think that’s wrong.” -Elon Musk 2/11/21
This is the first time a celebrity has claimed that CBD is doing nothing. That may be true. Dr. Matthew Roman, MD, a specialist in cannabis medicine, has been skeptical of CBD since 2018. The cannabis industry has a financial incentive to commercialize CBD and it appears that there are hundreds of CBD companies owned by small business owners. In reality, it doesn’t bind cannabis receptors in the body like THC and its mechanism of action remains unclear.
That’s it for this week. Check back next week and share this blog if you can so they can keep up with the latest cannabis news, just like you!