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CBD forecasts likely to be slashed on FDA warning: Analyst

CBD wholesalers should “have big concerns” about the U.S. Food and Drug Administration’s growing unease about the safety of the cannabis compound, according to one chief executive officer.

The FDA said Monday that it “cannot conclude that CBD is generally recognized as safe among qualified experts for its use in human or animal food.”

It added that “some of the available data raise serious concerns about potential harm from CBD,” including liver injury, drowsiness, diarrhea and changes in mood, and raised questions about its impact on children and pregnant or breastfeeding women.


Civil rights groups calling on Congress to evaluate DEA’s war on drugs effectiveness

Civil rights groups such as ACLU, NAACP and Drug Policy Alliance sent a letter to the House Committee on Appropriations last month to ask for a suspension of DEA’s war on drugs until the effectiveness of their actions has been reviewed.


How universities are adapting cannabis curriculums

This past spring, ZipRecruiter’s CEO, Ian Siegel, revealed that cannabis is the fastest growing job category in the United States. With 445 percent year-over-year growth in job listings, cannabis is far outpacing tech and healthcare career growth (245 and 70 percent, respectively). Data released by Mordor Intelligence suggested that the country’s market value could reach $65 billion by 2023. Potential supporting evidence comes from cannabis staffing agency Vangst which reported a 690 percent jump in job listings since 2017.


The giant cannabis problem no one saw coming

States like Oregon and Washington have too much cannabis and not enough demand.

When states started legalizing cannabis, lawmakers worried about setting fees and rules for licensing and legislating where cannabis dispensaries could set up shop. The last thing they thought they needed to worry about was an oversupply of cannabis.

But that’s exactly what’s happening in Oregon and Washington. The two Pacific Northwest states hope to correct their cannabis markets by tweaking local laws, but it appears that the only panacea for their woes could be the full legalization of cannabis at the federal level.


Marijuana unlikely star of Israel’s elections as cannabis industry booms

In a campaigning field inundated with some of the Middle East’s heaviest issues, from the threat of a new war with Gaza and the occupation of the Golan Heights, marijuana has emerged as a hot topic in Israel. 

Legalised for medical use over 20 years ago, the drug was licensed for export earlier this year, and ahead of a general election next week, the question of recreational legalisation is now being used as a campaigning tool. 


U.S. House committee will likely pass pot banking measure: Cowen

A House committee will probably pass a bill to get cannabis industry cash off the streets and into bank accounts, although a final vote may not happen until Wednesday, Cowen says.

Called the “SAFE Act,” short for the “Secure and Fair Enforcement Banking Act,” the measure would allow banks to service cannabis companies that comply with state laws. The House Financial Services Committee is due to start debating several bills at 2 p.m., including the pot banking bill, which Cowen regards as “positive for banks and cannabis companies,” analyst Jaret Seiberg wrote in a note.


Cannabis investors eye Uruguay in push for global weed exports

Serious marijuana money is starting to show up in Uruguay.

Almost six years after the South American country of 3.4 million people legalized cannabis, investors are betting Uruguay can become an export hub for medical marijuana as the industry expands around the world.

Silverpeak Life Sciences Uruguay Inc, one of the largest companies in the country’s nascent medical marijuana industry, is in talks with investment bankers to raise US$35 million this year to quadruple production and build a larger extraction lab in 2020, according to chief executive officer and U.S. cannabis investor Jordan Lewis.

"Our planned and desired expansion would be about 25 tons next year and that should push us above US$100 million in revenue," Lewis said.


Jefferies expects CBD beauty market to reach $25 billion in 10 Years

After initiating coverage of the cannabis industry Feb. 25, Jefferies analysts have followed up with their take on the CBD segment, particularly CBD beauty products. The research firm estimates that the CBD category could reach $25 billion globally in the next decade and will amass 15 percent of the total skincare market.


First medical marijuana crop passes state inspection

Louisiana has cleared another major hurdle in the race to get its medical marijuana program running. The state’s first medical marijuana crop has passed each laboratory inspection conducted by the Department of Agriculture and Forestry (LDAF), LSU AgCenter officials confirmed Tuesday.


Arizona Supreme Court to clarify where concentrates stand in medical marijuana law

The Arizona Supreme Court will hear oral arguments on March 19 in the case of Rodney Jones, a registered medical marijuana patient who was convicted of possession of hashish. The court in Jones’ original trial found that the Arizona Medical Marijuana Act (AMMA), passed by voters in 2010, does not protect cannabis concentrates including hash or hash oil. Jones was convicted and sentenced to two-and-a-half years in prison.


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