Nevada Marijuana Sales Beat Projections by $5 Million a Month

By Rick Schettino
NOV 21, 2017

The state of Nevada had projected that its new recreational cannabis market would yield $50 million in additional tax revenue during its first 12 months. They’re on pace to beat that number handily.

The Las Vegas Review-Journal runs the numbers from the Nevada Department of Taxation to find that far more legal cannabis is being sold — and taxed — than the state had anticipated. For the month of September, Nevada dispensaries beat the state’s sales projections by more than $5 million, netting $27 million in sales for the month.

Recreational cannabis became legal in Nevada on July 1, 2017.

July and August also beat projections, with the month of August seeing $33 million in cannabis sales, and July pulling $27.7 million.

Nevada essentially taxes cannabis three times, with a 15% excise tax on wholesale transactions, the standard 8.1% Nevada sales tax, and an additional 10% cannabis retail sales excise tax.

Patients who buy cannabis in Nevada with a medical ID card are not subject to the 10% excise tax.

The taxes collected cover the local government’s cost of regulating the industry, with the remaining funds going to the state’s public education fund.

At the current pace, recreational-use cannabis sales will total more than $350 million in Nevada’s first year in the market.

To read more visit: https://www.potnetwork.com/news/nevada-marijuana-sales-beat-projections-5-million-month

California Issues Commercial Regulations For Cannabis Businesses

By Rick Schettino
NOV 21, 2017

In anticipation of the January 1st “green rush” bonanza of California officially adopting adult recreational use of marijuana, the California Bureau of Cannabis Control has issued 278 pages of rules and regulations governing its sale. In a November 16 release, the bureau announced its guidelines that will combine medicinal sales and recreational sales under one regulatory framework.

These guidelines are just an interim, emergency first set of rules for businesses who intend to begin operation on January 1, 2018. Licenses that any business receives will only be valid for 120 days, in hopes of a permanent framework being prepared in the early months of 2018.

“Now, it’s going to go from the gray areas to the very black and white,” San Diego attorney Michael Cindrich told KUSA. “If you have a state license, you’re legal. If you don’t have a state license, you’re illegal.”

Notably, dispensaries are required to be located at least 600 feet from a school under the new rules. Dispensaries cannot remain open past 10 p.m. and must have 24-hour video surveillance.

The regulations have consumer ramifications as well. Serving sizes cannot exceed more than 10 mg of THC, and products cannot be manufactured in the shape of animals, fruits, or other shapes that might appeal to children.

The big snag is the requirement that dispensaries receive a legal permit from local authorities before they can apply for a state permit. Most localities, including Los Angeles and San Francisco, will not have their permit process in place by January 1.

The California cannabis market is currently valued at about $7 billion.

To read more visit: https://www.potnetwork.com/news/california-issues-commercial-regulations-cannabis-businesses

New Research Suggests Cannabis Could Help Heart Failure Patients

Doctors expected that cannabis use would pose a risk for heart failure patients, but found that the opposite was true. They also found that cannabis users were less likely to die in the hospital.

A research team has made the discovery that cannabis may have benefits for those suffering from heart problems. At a recent meeting of the American Heart Association’s Scientific Sessions, Dr. Oluwole Adegbala, medical resident at Englewood Hospital and Medical Center in New Jersey, presented the findings of an unpublished study on the link between cannabis use and heart failure. Previous research has suggested links between cannabis use and heart problems, and the research team fully expected to find evidence supporting claims that cannabis users were at greater risk of heart-related health problems.

Instead, the team was “surprised” to find that cannabis users were less likely to experience atrial fibrillation (A-fib), an irregularity of the heartbeat that can worsen the symptoms of heart failure, compared to non-users. Dr. Adegbala and his colleagues analyzed a database of over 6 million patients suffering from heart failure who were admitted to the hospital between 2007 and 2014. Around 23,000 of these patients reportedly used cannabis but were not considered dependent on the drug, and another 1,200 patients were considered dependent cannabis users, LiveScience reports.

The research team found that the non-dependent cannabis users were 18% less likely than non-users to experience A-fib, and were also 46% less likely to die in the hospital. The dependent cannabis users were 31% less likely to develop A-fib and 58% less likely to die in the hospital than non-users. Researchers adjusted their data to account for age, socioeconomic status, and use of other drugs, and discovered that their findings were still solid.

Dr. Adegbala told LiveScience that his team was not able to identify the exact reasons why cannabis might decrease the risk of A-fib or mortality for heart failure patients. Previous research in animals has found that high blood pressure and atherosclerosis, two risk factors for A-fib, can be reduced by activating cannabinoid receptors. Dr. Adegbala also noted that cannabidiol can reduce inflammation, which is another risk factor for A-fib. Despite their positive findings, the research team does not recommend that heart failure patients begin using cannabis as a treatment until further research can be conducted to support or refute the findings of this study.

To read more visit: https://merryjane.com/news/new-research-suggests-cannabis-could-help-heart-failure-patients