In the days of the Armada, a fleet of warships, the scuttlebutt was the rumor or gossip that would spread throughout the ship. Today, Armada Law Corp presents The Scuttlebutt, a daily summery of news articles that people within the cannabis, hemp and plant medicine industries are chatting about along with links to the full articles.
In today’s news:
Psychiatry Expert: Paving a Pathway to Psilocybin Legalization
Psychedelics – “Despite significant advances in the field of psychiatry, many patients continue to suffer from depression, anxiety, post-traumatic stress disorder (PTSD) and many other mental illnesses. The unfortunate truth is that not all traditional medical treatments are effective for everyone. Only about 30%-45% of patients achieve remission from depression with antidepressants like selective-serotonin reuptake inhibitors (SSRI’s); about 30%-60% achieve remission for generalized anxiety disorder; and only about 20%-30% achieve remission from PTSD. Inadequate treatment responses to traditional psychiatric medication options necessitates more treatment options. Psilocybin may offer a novel pathway forward for patients with treatment-resistant psychiatric disorders.
Rising Cannabis Use Among Older Americans During the Pandemic
#cannabisuse – “A new study reveals an increase in cannabis use among older Americans, with 12% reporting THC-containing substance consumption in the past year, a rise from pre-pandemic levels.
The study highlights a connection between high-risk alcohol consumption and increased cannabis use in this age group. Experts call for increased education and screening of older adults for cannabis-related risks, emphasizing the potential interactions with medications and mental health impacts.
Dual-substance users, particularly those with high-risk alcohol patterns, require special attention from healthcare providers to reduce risks and improve counseling….”
South Carolina Bill Would Regulate and Tax Intoxicating Hemp-Derived Cannabinoids
#cannabispolitics – “A bill proposed in South Carolina aims to regulate and tax intoxicating hemp-derived products such as delta-8 and delta-10 THC. The measure would also require laboratory testing of the products.
Under the proposal, hemp-derived cannabinoid products would carry a 5% tax which would be deposited into a special account in the state general fund and allocated to the state Department of Agriculture to be used exclusively for the regulation of hemp-derived cannabinoid products, according to the bill text. The measure would also set an age limit of 21 to purchase the products.
The bill would also impose a $500 annual licensing fee for producers and a $250 annual fee for retailers that’s sell the products, require safety labeling and child-resistant packaging.
The measure would impose the regime on seven intoxicating hemp-derived cannabinoids – including delta-8, delta-10, THCo, THCp, THCv, THCa, and hexhydrocannabinol – but excludes non-intoxicating cannabinoid products, such as CBD, CBG, CBT, CBL, CBE and CBN….”
New York’s Cannabis Settlement Blocks New CAURD Licenses Until April 2024
#newyorkcannabis – “A New York judge approved settling a lawsuit filed by a group of service-disabled veterans, granting the group a provisional license and paving the way for more than 400 provisional licensees to open marijuana dispensaries. But the settlement terms – which were not made public when the Cannabis Control Board approved the settlement – block the issuance of new Conditional Adult Use Retail Dispensary (CAURD) licenses until April of 2024.
The judge also approved a second settlement to a lawsuit filed by Coalition for Access to Regulated & Safe Cannabis (the “Coalition”), a coalition of cannabis companies, and that settlement establishes timelines for reviewing applications from Registered Organizations seeking adult-use licenses. Registered organizations are responsible for manufacturing and dispensing medical cannabis in New York.
State Supreme Court Justice Kevin R. Bryant’s approval allows 436 retailers to open their shops and commence sales and deliveries. The agreement reinstates the CAURD licensing program that prioritizes individuals with prior marijuana-related convictions….”
Should Sacramento’s cannabis tax be cut? Dispensary owners and youth advocates at odds
#californiacannabis – “Cannabis operators in Sacramento want the city to reduce a 4% tax on their gross receipts, but the cut would slash money allocated for youth organizations.
The special tax must be paid monthly by all cannabis businesses in Sacramento, and starting next year, 40% of the tax will go to a new entity, the Sacramento Children’s Fund.
But cannabis business owners say they can’t afford the 4% tax anymore.
They say the illegal black market for the drug, along with too much cannabis being harvested while consumer demand has declined, has meant thin margins and tough times….”
You won’t believe how cannabis legalization is impacting communities
#cannabislegalization – “Another study looks into the impact of medical cannabis legalization, and this one might save people some money. Americans pay 16 to 34 percent of their household income on health insurance premiums and spending. Those in states with medical cannabis laws seem to be paying less, according to a recent study.
U.S. private insurer financial data was gathered from the National Association of Insurance Commissioners to understand how premiums have been impacted by the implementation of medical marijuana regulations between 2010 and 2021.
Turns out, states with access to medical cannabis saw almost $1700 less in insurance premiums compared to those without. Researchers presented this information with 95 percent confidence and no conflicts of interest….”
New bill would allow recreational marijuana to be banned locally
#cannabisindustry – “A bill introduced this week in the Ohio Statehouse would change the state’s new recreational marijuana law, which voters approved in the November election and which takes effect next week.
Ohio House Bill 341, introduced Tuesday, Nov. 28, by state Rep. Gary Click of Vickery, R-88th, would allow local governments to ban the consumption of non-medical marijuana and home growing of cannabis. It would also divert some tax revenue from sales of the drug toward substance abuse and recovery efforts as well as police training….”
Photog Says Cannabis Licensing Firm Used NYC Pic Without OK
#cannabislawsuit – “A cannabis licensing firm copied a photographer’s picture of the Empire State Building to push sales without permission, committing copyright infringement, according to a lawsuit from the photographer in New York federal court.
Paul Reiffer, a British Institute of Professional Photography fellow with a gallery in the Maldives, says in a complaint filed Thursday that he discovered unapproved use of the photo on the Canndelta Inc. website in July 2022, alleging it was used on the company’s home page.
“After Canndelta copied the work, it made further copies and distributed the work on the internet to promote the sale of goods and services as part of its regular business activities,” the suit says
(PAYWALL) Read more at: https://www.law360.com/cannabis/articles/1772549?nl_pk=bb2d2862-9f62-42b6-ab85-0c7a674438c1&utm_source=newsletter&utm_medium=email&utm_campaign=cannabis&utm_content=2023-12-05&read_main=1&nlsidx=0&nlaidx=3?copied=1
How Cannabis Cos. Are Adapting In Shifting Bankruptcy Arena
#cannabisindustry – “With the federal forums that traditionally address insolvency matters unavailable, failing cannabis companies that wish to avoid an unstructured wind-down are generally forced to seek state-controlled alternatives to bankruptcy, such as receiverships.
However, federal courts have begun to demonstrate more openness to downstream businesses in the cannabis industry and to entities that are no longer directly engaged in the industry.
(PAYWALL) Read more at: https://www.law360.com/cannabis/articles/1771823?nl_pk=bb2d2862-9f62-42b6-ab85-0c7a674438c1&utm_source=newsletter&utm_medium=email&utm_campaign=cannabis&utm_content=2023-12-05&read_main=1&nlsidx=0&nlaidx=5?copied=1