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  • Consumer Use Sets Records On Cannabis!

    Consumer Use Sets Records On Cannabis!

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    The speed of cannabis mainstreaming is setting records.

    Since the first state went legal in 2016, consumers have moved to legal marijuana. Now, with over 50% of the country having access to it, things are starting to change.  And consumer use sets records on cannabis as all ages are starting to consume and consume more.  States who have full legal cannabis are bringing in more revenue from marijuana than alcohol. All fueled by consumers.

    RELATED: Great Fall Whiskeys

    The newest record is Michigan, a solid mid-western state. In the first year of it being available to the public, the state had $1 billion in sales.  Now, the Great Lakes State sets record with $295+ million in monthly marijuana sales. And it isn’t what you think, while it is being used to relax, it is also being used for its medical benefits.  Boomers, the generation who helped promote the War on Drugs, has turned to it for the medical benefits of managing inflammation, chronic pain, insomnia, and more.  And their grandchildren in Gen z are using it to combat anxiety. There generation has the highest amount of any other generation.

    Photo by Hans via Pixabay

    The other record is cannabis is taking a bit out of beer. Beer sales are down, especially earlier in the week as people are turning to vaping and gummies for a quick, low calorie and dose to relax after a busy start to the week.  Year over year growth is strong.  In 2022, sales were $30 million and in 2024, it is on track to be $38 million. While beer sales still far outpace cannabis at $117 billion, sales dropped again in 2023 by 5.1%. Another reason big liquor companies are wading into the cannabis market.

    But the industry is still struggling and the Biden/Harris administration has failed to follow through on their 2020 promise to help the industry. Biden is one of the most seasoned policymakers in DC with 50 years of service, so it seems the failure of the DEA to make a move before the election could be planned. The DEA rescheduling move premiered at time to provide zero relief for the industry in 2024 as the DEA is not making an announcement until December.  Being post December, it could provide cover to the current administration to make make a move. Or if the GOP wins the presidency, Speaker Mike Johnson (R-KY) has made it clear he will move to reduce the industr

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    Terry Hacienda

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  • Things Are Heating Up For Cannabis This Summer

    Things Are Heating Up For Cannabis This Summer

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    Temperatures aren’t the only thing warming up this summer – the cannabis market is heating up with potential changes.

    It is the time of year for high temperatures, travel, grilling, and more. And as a bonus this year, things are heating up for cannabis this summer.  The industry is holding its breath as the current administration lumbers toward rescheduling, Florida is setting the stage again for a fight between the governor and his residents and licenses are granted as Ohio opens the marijuana market.

    RELATED: California or New York, Which Has The Biggest Marijuana Mess

    The cannabis industry is starting to rise out of a mess caused by overexcitement, federal regulation and zero tax relief for mom and pop businesses. And, it seems, the Biden administration seems to be finally taking rescheduling serious with both President Biden and Vice President Harris using it as a talking point in speeches.

    The Drug Enforcement Agency (DEA) hasn’t be the most excited despite both Health and Human Services (HHS) and Food and Drug Administration (FDA) recommending the change. Several key federal health agencies were part of conference recently to discuss the marijuana science and policy considerations for researchers navigating cannabis studies, but the DEA cancelled their participation. Currently, it is in a 60 day public comment period and they DEA will move afterwards. Fall seems to be the time a final decision will be made.

    Photo by Jeff Swensen/Getty Images

    Florida has voted on marijuana three times. The first time medical passed by 60% and the the then popular Governor declared it not enough. The second time it passed by over 70% and the Governor said the public was confused. Now they go for a third time and the Governor doesn’t want a vote and especially doesn’t want support from his citizens. But things have changed. Faced with soaring problems and a more negative view of his nanny state policies, DeSantis barely breaks 50% approval ratings. In a new Fox New poll, 66% of the state backs expanding legalization. Included in the poll is Republicans are at 57% for making the plant more available, it seems DeSantis is again swimming against what Florida wants.

    RELATED: Was There Marijuana In The Old West

    The state where 7 US presidents were born, Ohio, is gearing up to sell recreational marijuana in dispensaries. Ohio’s 132 medical marijuana dispensaries are now able to apply for recreational sales permits. It means marjijuana could be sold to the adult general public begin by mid July. And, most likely, it means most Buckeyes should have access by the later part of the summer. And it means the end of the year will be a boon for the states tax coffers. Smaller state Missouri did over $1 billion in sales in their first year, so the state budget should look good next year.

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    Terry Hacienda

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  • The Gilded Age Heiress Who Helped The Marijuana Movement

    The Gilded Age Heiress Who Helped The Marijuana Movement

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    Shows like Downtown Abbey, Palm Royale, and more have showed the  big, big rich lives – and a few even touched the marijuana counterculture movement.

    It seems we can’t get enough about the lives of the very rich. Shows including Downtown Abbey, Succession, the Gilded Age, and Palm Royale are all over and people are loving it. Ryan Murphy has done well and is just off his latest series Truman Vs.The Swans.  All of this highlights the extremely well to do and how they live life.  But did you know about the gilded age Heiress who helped the marijuana movement?

    RELATED: Beer Sales Flatten Thanks To Marijuana

    The Mellon family is in the rare category of being big then and still today. On the East Coast they continue to still have pull and cache like the “new money” Gates, Zuckerberg and Bezos.   An old family from Pittsburgh, they made the start of it all in banking, the Mellon in today’s BNY Mellon. The family includes Andrew Mellon, one of the longest serving Treasury Secretaries, along with famous members in the judicial, banking, financial, business, and political professions.  Bunny Mellon was one of the great philanthropists and art collectors.  A dear friend of Jackie Kennedy Onassis, she designed a number of significant gardens, including the White House Rose Garden

    But it was Peggy Mellon Hitchcock, another Mellon heiress who helped the counterculture. Her mother was a Mellon and her father, Thomas Hitchcock Jr., was a leading polo player and a partner at Lehman Brothers.  Peggy was a spitfire and was as comfortable in the family’s many homes as in a smokey jazz club with artists. Spirited and fun she was always open to what’s new and what’s next.  She had an unlikely relationship with Timothy O’Leary. She persuaded her brothers to let O’Leary have use of their joint family estate Daheim (also known as Millbrook or the Hitchcock estate).

    RELATED: Cannabis Industry Employs The Same As These Companies

    For 5 years, O’Leary, thanks to Peggy lived like a king and had guests including Allen Ginsberg, Charles Mingus, and R. D. Laing to the old monied manse. What went on is the stuff of legends with a blend of art, marijuana, money, new ideas, psychedelics, music and love. The The New York Times’ Luc Sante, described it as “a period filled with endless parties, epiphanies and breakdowns, emotional dramas of all sizes, and numerous raids and arrests.” Nina Grabol shared it was “a cross between a country club, a madhouse, a research institute, a monastery, and a Fellini movie set.”

    Peggy was responsible for helping the counterculture rest, regroup, and move forward.  Who knew this would be the early path to rescheduling?

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    Sarah Johns

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  • The Economic Impact of Cannabis

    The Economic Impact of Cannabis

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    The Economic Impact of Cannabis: A Growth Engine for Local Economies

    The rapid expansion of the cannabis industry is reshaping local economies, injecting over $100 billion into the US economy in 2023, with a projected 12.5% growth in 2024. This significant impact is supported by companies like Seed Connect, a US-based cannabis seed bank.

    Beyond direct sales, the broader economic ripple effect benefits various sectors, enhancing both community development and financial prosperity. The contribution of cannabis to local economies extends beyond mere financial injections.

    RELATED: California or New York, Which Has The Biggest Marijuana Mess

    For every $10 spent on cannabis products, an additional $18 flows back into the economy, driving economic activity that supports small businesses, creates jobs, and generates substantial tax revenue.  This multiplier effect underscores cannabis as a robust driver of local economic growth.

    Photo by Cappi Thompson/Getty Images

    States like California, Colorado, and Washington have seen cannabis tax revenues surpass those from alcohol, highlighting the industry’s potential as a significant fiscal contributor.

    The ongoing legalization and increasing acceptance of cannabis across the U.S. promise to amplify these economic benefits. Furthermore, the cannabis sector has become a critical employment hub, supporting over 400,000 full-time jobs nationwide.  This number is expected to rise as the market expands, illustrating the industry’s role in fostering a diverse range of job opportunities across retail, cultivation, and beyond.

    The economic dynamics of the cannabis industry also include enhancing public health outcomes.

    RELATED: Cannabis Industry Employs The Same As These Companies

    Many localities utilize cannabis tax revenues to fund public services such as education and healthcare, directly benefiting community welfare.

    Moreover, the industry’s growth encourages sustainable agricultural practices and technological innovations that further enhance its economic and environmental impact.

    Considering these factors, the economic influence of cannabis not only represents a compelling narrative for States contemplating or already benefiting from legalization but also positions the industry as a pivotal element in future economic planning.

    Investors, policymakers, and community leaders are increasingly recognizing the potential for sustained economic benefits, making cannabis a crucial area of interest in economic development discussions.

    As the cannabis industry continues to evolve, its capacity to contribute to economic stability and growth becomes ever more apparent, ensuring a dynamic and resilient future for local economies.

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    Terry Hacienda

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