Medical Cannabis News

Synonyms: 
mmj
Thu
19
Mar

Mexico drug cartels adapting to legalization of marijuana in U.S.

MEXICO CITY – The growing legalization of cannabis in the United States is forcing Mexico’s drug cartels to rethink their illicit business model, turning to opium poppy plantations and domestic pot consumption, experts say.

Americans have been legally allowed to light up joints in the U.S. capital since late last month, joining Washington state and Alaska, while Oregon will follow suit in July.

A total of 23 U.S. states have legalized the drug for medical use, and opinion polls show that a slim majority of Americans favor legalization.

The changes in the world’s biggest drug market appear to have prompted the criminal organizations producing narcotics in Mexico to switch strategies.

Thu
19
Mar

Marijuana Legalization In Italy: Motion To Legalize Cannabis Receives Bi-Partisan Support

Lawmakers in Italy have taken a bold stance on marijuana legalization, signing a motion Monday to legalize cannabis across the country, according to the ANSA news agency. The proposal, introduced by Sen. Benedetto Della Vedova, was backed by 60 politicians, mostly from the ruling center-left Democratic Party but with some support from the right. Della Vedova himself, a senator who also serves as the deputy foreign minister, was a longtime member of Italy's small but influential Radical Party, which has campaigned since the 1970s to liberalize marijuana laws.

Thu
19
Mar

Medical Marijuana Facility in Leamington to Expand

As a result of policy changes introduced by the Conservative government, corporations are taking over medicinal cannabis, concentrating business in the hands of people with ties to Big Pharma.

One morning in February, Nanaimo councillors and business leaders met in an industrial area about 20 minutes from the city’s downtown.

The building they stood before is nondescript. But, recounted Sasha Angus, CEO of the Nanaimo Economic Development Corporation, “It’s like a vault wrapped by Fort Knox wrapped in a castle.

“Cameras, vibration sensors, and a lot of time and effort,” he continued, describing the facility’s security measures. “There’s a vault that’s two feet thick with more vibration sensors. It’s about one level below a nuclear-missile silo.”

Thu
19
Mar

Marijuana dispensary owner plans to stay open

Tomorrow is the day.

The RCMP told Bryan Raiser that he had to close his medical marijuana dispensary by Thursday, March 19.

Tuesday night he won, symbolically anyway, the support of district of Squamish council.

Raiser appeared before council Tuesday night and asked that they pass a motion in support of access to medical marijuana derivatives. The motion was similar to that passed in January by city council in Grand Forks, which is also an RCMP jurisdiction.

The motion stated that council will request that the federal government include marijuana derivatives, such as cannabis oils, be included in the legal marijuana program and that government further review legislation and options for greater local access.

Thu
19
Mar

Medical Marijuana Financial Landscape to Change: The Financial Ramifications of the CARERS Act

Aside from the obvious societal and legal implications, the proposal by Senators Rand Paul, Kirsten Gillibrand, and Cory Booker to change marijuana from a Schedule I drug to a Schedule II drug will also have financial ramifications. One of the difficulties in running a marijuana business is dealing with the IRS, still empowered to enforce IRC Code 280E. The code was created during the Reagan era to help in the administration's War on Drugs and specifically prohibits the deduction of normal business expenses from any income derived through the sale of illegal drugs. This includes expenses such as rent and payroll and has resulted in tax rates for some marijuana businesses to approach 70 percent as opposed to a more-normal 30-35 percent.

Thu
19
Mar

Paying for pot: Card company addresses high priority for marijuana industry

NEW YORK (MarketWatch)—Paying and accepting cash for “legal” marijuana transactions isn’t easy, or safe for that matter. But prepaid debit card processor Global Payout Inc. GOHE, +8.70%  is aiming to change that with a payment system unveiled Wednesday that’s exclusively for Mary Jane.

In the marijuana industry, even in the more than 20 states where recreational and/or medical marijuana is legal or decriminalized, cash is the sole method of payment between buyers and sellers. That creates both danger and inconvenience for producers and retailers, according to Global Payout Chief Executive Jim Hancock, as they are forced to handle large amounts of cash.

Thu
19
Mar

Marijuana activists ramp up legalization efforts in N.J.

How do you save millions on taxes while bringing millions more to the state economy?

The answer could be blowing in the wind Saturday in Trenton where a group of activists plan to march to the State House, speak out and smoke out.

Launching what organizers call "the strongest cannabis campaign the state has ever seen," "NJ Spring Smoke Out" is just the beginning in a blaze of pro-marijuana demonstrations set throughout the state this spring, including a return to Trenton on April 20 and to Camden on May 2.

Thu
19
Mar

New threat to medical marijuana may surprise you

Medical marijuana has new competition, and it's fierce: Sales of recreational pot in Colorado are growing faster than sales of medical pot, even though medical marijuana is cheaper because of a lower tax rate.

That trend will continue, according to the most thorough analysis yet of the two, side-by-side legal markets.

GreenWave Advisors, which provides analysis for the cannabis industry, reports that medical marijuana sales growth in Colorado dipped in 2014, as did the number of new medical cardholders.

Thu
19
Mar

NY: Cuomo counsel, legislators and players on details of marijuana plan

ALBANY—Tensions between the private marketplace and state regulation can seem especially fraught in the burgeoning industry of medical marijuana, as illustrated in a discussion hosted by Capital New York today that included a Cuomo administration official, the legislative sponsors of New York's medical marijuana law and experts in the sector. 

Responding to criticism about restrictions on the size and scope of New York's planned medical marijuana program, Governor Andrew Cuomo's incoming counsel Alphonso David said, "The reality is marijuana is still illegal, so we had to create a balanced piece of legislation and regulations."

Thu
19
Mar

Worth repeating: National Cancer Institute says pot fights cancer

Last year, the National Cancer Institute — “the U.S. government’s principal agency for cancer research” — created a stir by publishing the truth: the molecules found in pot kill breast and lung cancers in lab tests. Marijuana remains a federally illegal, schedule 1 drug with “no medical use” and “a high potential for abuse”, so the NCI was pressured to take down the statement. But it remains.

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