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September 27th Highlights
- The Impact of Adult-Use Cannabis - Medical cannabis in the US and Canada reaches around 1% of the population. The burgeoning markets of North America have shown the economic potential of cannabis, with hundreds of thousands of jobs created over the last decade and billions collected in tax revenue, as referendums on medical and recreational legalisation have swept across the US. However, it is not a simple matter to replicate this course of development in the quite different political landscape of Europe. However, in Switzerland, Parliament approved a modification to the Swiss narcotics law that will allow studies of recreational cannabis use in the country’s largest cities. Parliament ultimately decided that Swiss and organic cannabis should be used as far as possible. The vote paves the way for scientific studies on the effects of the controlled use of cannabis to be carried out. This is intended to help evaluate the effects of new regulations on the recreational use of cannabis and ultimately, combat the black market distribution of cannabis. Whilst in Spain a recent report by the Confederation of Federations of Cannabis Associations showed that there are about 1,500 cannabis user clubs, with an average of between 300 and 400 members each, which could generate about 20,000 jobs if regulation of its operation and income to the State in excess of 600 million euros a year between direct and indirect taxes. Furthermore, Spanish Cannabis Associations estimate that their regulation would generate between 200 and 600 million euros in taxes. Adult use of cannabis presents a significant opportunity for countries. I spoke with Fiona Patten MP about this topic in Australia - epp can be seen here. Thanks for the inspiration from Eldario and Prohibition Partners
- Hemp Ciggeratas, a cigarette alterative? - Nielsen Global Connect recently reported that nearly 1-in-4 cigarette or cigar smokers claim to have consumed a hemp-CBD product (24%) or e-cig or non-cannabis vape product (24%) over the past year. That compares to the aggregate of U.S. adults, of whom fewer than 18% have ever consumed hemp-CBD.
- The Correcting Cannabis the Industry - The industry is calling for a different skill set. We’re moving towards now seeing CEOs that focus on profitability as opposed to other metrics,” this was stated by Deepak Anand, CEO of Materia Ventures. Deepak mentioned that the landscape from a capital-raise perspective has shifted tremendously, and that’s what’s dictated some of these changes.” There have been underlying problems in company revenue models coupled with slow-moving regulations, which has impacted the global cannabis capital markets. I spoke with Matt Lamers (International Editor at MMJ Biz Daily) and Deepak Anand on this topic - you can watch the epp here
Tobacco consumers more likely to convert to smokable hemp in coming year
Prescribing cannabis - NZ and the U.K.
UK food regulators reject CBD as narcotic, stand by novel food deadline
How cannabis farming is destroying the planet
Tension grows over TGA audit as LGP lab ‘stands by all results’
Medicinal cannabis trial could help retired AFL players manage chronic pain
GW Pharmaceuticals cannabis drug gets regulatory OK in Australia
Lambert Initiative seeking healthy, endurance-trained runners to participate in CBD trial
Incannex Healthcare receives ethics approval for OSA trial
It's one year since the ACT legalised cannabis. Here's how it's gone
Neurotech begins testing seven key cannabis strains