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Medical Marijuana Breakthroughs, UN’s Big Move & NYC’s ID Problem
Plus, Maryland's marijuana windfall
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Happy Friday, Benzinga Cannabis Family!
It’s Maureen Meehan, your go-to for all things cannabis, bringing you today’s top headlines with an extra kick of fun because, well, it’s Friday.
We’ve got a groundbreaking study showing medical marijuana is cost-effective for PTSD, the UN just banned a cannabis compound and NYC’s unlicensed dispensaries are making it way too easy for underage buyers.
Plus, California’s revamping its cannabis rules, Maryland raked in $73 million in weed tax revenue, and a California startup is selling injectable weed (yep, you read that right)—and the FDA is NOT happy about it.
This past week, our colleague Javier Hasse has been reporting from Spain, where he attended C-Days—an event with an all-women keynote lineup, proving that women lead in every aspect of the cannabis industry. He then went to the International Cannabis Business Conference (ICBC), where Europe’s cannabis market is heating up fast, Spannabis and onto ICBC Berlin.
Javier will soon be heading our way for the June Benzinga Cannabis Capital Conference in Chicago (June 8-10) - where deals get done and there’s always lots of fun. Get your tickets now before prices go up!
So, let’s dive in and see what happened today in the world of cannabis!
In today's issue:
A new study finds that medical cannabis is a cost-effective treatment for PTSD, particularly non-flower formulations. The research suggests that health insurance companies should consider covering cannabis alongside standard PTSD treatments.
Lead author Mitchell Doucette explained, “For the vast majority of types of products, there is pretty solid evidence that medical cannabis is cost-effective.” In other words—covering cannabis could help patients save money while also benefiting insurance companies. Will insurers take the hint? TBD.
The UN Commission on Narcotic Drugs just voted to ban hexahydrocannabinol (HHC) under an international treaty.
The U.S., however, abstained, with officials saying they were “unable to vote.” But before you get too excited, HHC is already controlled in the U.S., so this move won’t change much domestically.
The California Department of Cannabis Control (DCC) is rolling out new regulatory reforms.
DCC Director Nicole Elliott put it best: “California’s cannabis industry has grown and evolved significantly since the early days of legalization, and our regulatory framework must evolve accordingly.” The goal? Simplify the rules, reduce redundancies, and enhance consumer protections.
Pennsylvania Rep. Chris Rabb has reintroduced a bill to stop medical marijuana patients from getting DUIs unless they’re actually impaired.
Currently, MMJ patients can get hit with DUI charges just for having cannabis in their system—even if they haven’t used it in days. Patients are tired of being treated like criminals for their meds, and this bill aims to fix that.
Maryland pulled in a whopping $73 million in cannabis tax revenue last year.
The money is being put to work—funding community reinvestment, county governments, public health programs, and business assistance.
New research found that 90% of unlicensed NYC weed shops aren’t checking IDs properly.
Dr. Ryan Sultàn and his team at Columbia University found that 48% of illegal shops don’t check IDs at all, making it shockingly easy for underage buyers to get weed.
“Access to cannabis, the barrier just keeps dropping,” Sultan warned. This could be a huge problem for NYC regulators trying to clean up the unlicensed market.
A California startup, Pico IV Inc., has been selling an injectable CBD product—and the FDA is NOT having it.
The FDA sent a warning letter to the company, saying their product violates multiple federal laws and making unapproved medical claims. Pico IV has 15 days to clean up its act—or else.
The Washington State House just passed a bill to give cannabis agricultural workers collective bargaining rights—just like those growing apples, wheat, or hops.
Some cannabis workers say they face unsafe conditions, slow pay, and job insecurity, and this bill will let them negotiate for better wages and working conditions.
Twin Cities civil rights lawyer and activist Nekima Levy Armstrong has launched Dope Roots, a brand focused on low-dose, hemp-derived THC products.
Armstrong grew up hearing anti-drug rhetoric from police officers in her elementary school. Now, she’s challenging that stigma and pushing for cannabis normalization and education.
This week, Javier Hasse is reporting from Spain, where he attended C-Days—an event that stood out with its all-women keynote lineup, proving that women lead in every aspect of the cannabis industry. Speakers included Masha Burello, Natalia Kesselman, Luna Stower, The Dank Duchess, Polita Pepper, Mercedes Ponce de León, and legends Jorge Cervantes and Ed Rosenthal.
He then attended the International Cannabis Business Conference (ICBC), where Europe’s cannabis market is heating up fast. Next, I’m heading to Spannabis, then ICBC Berlin. He will be returning stateside for the Benzinga Cannabis Capital Conference in Chicago (June 8-10)—where deals get done. Get your tickets now before prices go up!
That’s a Wrap!
Another busy day in the cannabis world, and we did our best to cover it all - from PTSD breakthroughs to FDA drama and NYC’s underage weed problem. We’ll be back Monday (St. Patrick’s Day! ☘️) with more updates, industry shake-ups and the latest on cannabis policy.
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