Vermont – May 2, 2017 Vermont Lawmakers Approve Expansion of Medical Marijuana.
The Associated Press reports that Vermont lawmakers are expanding access to medical marijuana in the state. Legislators have approved a bill that would add additional ailments to the list of qualifying conditionsANDtriple the number of dispensaries in the state.
In a new STUDY published by Health Affairs(April, 2017), the authors Ashley Bradford and W. David Bradford propose that the nation could save between $1 billion – $3.8 billionannually – if medical marijuana was federally legal and available in every state.
Madison, WI – The Wisconsin state Assembly voted 98-0 last week, to legalize possession of CBD oil! CBD oil is a marijuana extract and is used to treat seizures, reduce pain and inflammation and may even be effective as a neuro-protectant. It won’t get you high, but many people swear by its benefits.
With the state Senate having overwhelmingly approved the bill, it now moves on to the governor’s desk for his signature. Gov. Scott Walkeris expected to sign the legislation into law.
Unfortunately (for many), the Wisconsin bill does not go far enough. For one thing, the legislation does not allow for the production or sale of CBD oil in Wisconsin. Parents are expected to obtain CBD oil from outside the state. Then bring it back into Wisconsin, in violation of federal law. Seems a little short-sighted, doesn’t it?
Updated March 28th, 2017
NORML – Madison reports that Wisconsin City has removed fines for marijuana possession and consumption.
Under a new ordinance passed this week in March, adults 21+ will no longer be subject to fine for possessing marijuana (public or private). Using marijuana in private is also exempt from any fines. However, public use is still prohibited and subject to a $200 fine.
SMITH FALLS, Ontario – Another milestone for the cannabis industry was reached today…
Canopy Growth [TSX:WEED], Canada’s largest and arguably most successful marijuana company – has been added to the S&P/TSX Composite Index. The index represents nearly 70% of the total market capitalization on the Toronto Stock Exchange and is considered a key benchmark for the Canadian equity market.
With the addition of Canopy Growth to the index, more and more investors will now be ‘buying and holding‘ weed.
Canopy Growth has a marketcapitalization of $780.6 million and a year-to-date stock price change of +192%.Canopy Growth is definitely a cannabis company to watch in 2017.
Update – March 27th, 2017
According to the CBC, PM Tradeau will announce legislation on April 10th – to legalize marijuana for recreational use in Canada by July 1, 2018!
Shares of Canopy Growth Corp.jumped 11% in trading on the news.
Breaking News: Multiple Marijuana Legislative Bills could Signal Shift IN GOP
At least two bills have been introduced by Republican lawmakers in the past 6 weeks, that would end federal marijuana prohibition.
I’m Just a Bill – H.R. 715
On January 27th, 2017 – House Republican Rep. Griffith Morgan from Virginia introduced H.R. 715 to the 115th Congress. Legislation that would reschedule marijuana from a Schedule 1 Controlled Substance, AND exclude cannabidiol (CBD) from the definition of marijuana.
Read more by clicking the image below.
I’m Just a Second Marijuana Bill!
On February 27th, 2017 – House Republican Rep. Thomas Garrett of Virginia introduced legislation entitled, Ending Federal Marijuana Prohibition Act of 2017.
Rep. Garrett’s legislation, if it becomes law, would end federal prohibition by removing marijuana from the Controlled Substances Act. This would in effect, leave marijuana legality/policy up to the states.
Rep. Garrett has been a vocal Trump Supporter and the timing of his bill is worth noting. AG Sessions himself suggested during his confirmation hearings – that if congress didn’t like his approach to marijuana law enforcement, they should change the laws accordingly.
Perhaps the Republicans are attempting to do just that?! First with a stick, then with a carrot?
Garrett’s office released a press release to coincide with the legislation’s introduction:
WASHINGTON, D.C. – Today 5th District Congressman Tom Garrett introduced legislation aimed at federally decriminalizing marijuana.
The short title for this legislation is cited as the “Ending Federal Marijuana Prohibition Act of 2017.” If passed, this bill would take marijuana off the federal controlled substances list – joining other industries such as alcohol and tobacco.
Garrett went on to say,
“this step allows states to determine appropriate medicinal use and allows for industrial hemp growth, something that will provide a major economic boost to agricultural development in Southside Virginia. In the coming weeks, I anticipate introducing legislation aimed at growing the hemp industry in Virginia, something that is long overdue.”
Senators on Marijuana in 2017
Take a listen to Senator Schatz as he blastsAG Sessions on the Senate floor, February 8th, 2017 – over his comments disparaging marijuana.
According to the Associated Press (article), Senators from eight states with legal recreational marijuana (Washington, Colorado, Nevada, California, Oregon, Massachusetts, Maine, Alaska), sent a letter to Attorney General Jeff Sessions on March 2nd, 2017 – asking him to uphold the Department of Justice’s existing enforcement policy toward marijuana.
Among those who signed this letter where Senators Elizabeth Warren and Edward Markey.
Related: Election 2016 – Marijuana Legalization Spreads Across the U.S.
Trump on Marijuana
Republican Presidential Candidate Donald speaks in front of a crowd in Reno, Nevada on October 29th, 2015.
Listen to Trump’s answer, when asked how he would approach medical and recreational marijuana.
House Republican Rep. Griffith Morgan from Virginia, has introduced a billto the 115th Congress that would reschedulemarijuana from a Schedule 1 Controlled Substance, AND exclude cannabidiol (CBD) from the definitionof marijuana.
Part I – The Big News | Reschedule Marijuana!
Introduced in the House of Representatives on January 27, 2017, H.R. 715 would reschedule marijuana under section 202 of the Controlled Substance Act (21 U.S.C. 812) to a schedule under section 202 other than the dreaded schedule I.
Schedule I is reserved for substances that have a high potential for abuse, have no currently accepted medical use, and demonstrate a lack of acceptable safety when used under medical supervision.
No accepted medical use?
Not so fast! Clearly, marijuana does not belong under Schedule I. Marijuana has demonstrated health benefits.CBD oil, from marijuana and hemp, is used by many people to treat joint inflammation and the pain and stiffness associated with arthritis. And CBD is not psychoactive, meaning it won’t get you high.
Science is just now beginning to explore the potential health benefits of cannabis. Recent clinical research suggests applications in the treatment of anxiety and schizophrenia, and even cancer. The THCV and terpenes in marijuana and hemp may even help you maintain healthy blood sugar levels and possibly even help you avoid serious health problems such as diabetes.
This bill, if passed, would be truly historic. It would completely alter the landscape for the cannabis industry nationally and perhaps even globally. Although rescheduling alone would likely not immediately end Federal prohibition, it would drive a huge crack in the wall of ignorance surrounding medical and recreational marijuana.
Part II – Equally Great News | CBD Excluded from CSA!
H.R. 715 would also remove cannabidiol (CBD), famous for its efficacy in treating intractable childhood epilepsy (e.g. Dravet Syndrome, Lennox-Gastaut Syndrome), from governance under the Controlled Substance Act!
H.R. 715, by itself, would not prevent the FDA from restricting and regulating marijuana, but it would remove the DEA from the conversation.
Passage would also likely permit banks and other financial bodies to engage with state-compliant marijuana companies. This would bring much needed capital and financial security to an industry producing billions of dollars outside of mainstream financial institutions and poised to be crowned the #1 most valuable legal cash crop in the U.S.
Update: House Republicans have introduced a second marijuana Bill that would end Federal prohibition– Click for info
Jim O’Neill Could Bring Disruption and Marijuana to the FDA
According to Bloomberg News and TheHill, President Donald Trump is strongly considering Jim O’Neill, an outspoken marijuana supporter and libertarian, to be the next head of the FDA. Jim O’Neill has been a staunch critic of the FDA for years and if appointed to lead the agency, he is likely to usher in dramatic changes that could shake the agency to its core. And maybe, just maybe, that’s not such a bad thing.
Jim O’Neill is reportedly a close business associate of key Trump transition team member Peter Thiel – a tech financier worth more than $2 Billion. Theil was named #246 on the Forbes400 List of Richest People in America in 2016. Theil spokesman Jeremiah Hall was quoted recently in an email reported by Bloomberg Politics, “Jim O’Neill has extensive experience in government and in Silicon Valley. He is a strong candidate for any of several key positions.”
Mr. O’Neill is currently the Managing Director of Mithril Capital Management LLC,
a global investment firm cofounded by Peter Thiel. Previous to Mithril Capital, Mr. O’Neill spent just under six years working in various roles for the Department of Health and Human Services during the George W. Bush Administration, from 2002 – 2008. O’Neill first served as the Director of the Speech and Editorial Division, then as Associate Deputy Secretary and ultimately as the Principal Associate Deputy Secretary contributing to policy and regulatory matters affecting the FDA.
In addition to working for the Dept. of HHS, O’Neill also served on the Board of Directors (and was a founding member) for the Coalition for Cannabis Policy Reform. CCPR is a nonpartisan organization which opposes prohibition and supports reasonable marijuana regulation. O’Neill is likely to bring big changes to the FDA, easing research and perhaps access to cannabis based pharmaceuticals and nutraceuticals.
Dr. Erik Muenker D.C. is the Publisher and Editor of the CBD Business Blog, an online blog and journal – your source for exclusive business, scientific, health and political news impacting the recreational and medical marijuana industries.
Our focus is on cannabidiol(CBD), a non-addictive, non-psychotropic and medically powerful cannabinoid found in marijuana and hemp. Disclaimer