As more states legalize cannabis use, the number of people turning to it to manage overwhelming anxiety and stress is increasing. However, there has been much discussion in the medical community and among citizens on the benefits of cannabis.
By December 2020, Michigan had experienced the highest sales growth of any legal cannabis market in the United States, realizing a 146% growth in gross merchandise value. This is according to data available from LeafLink, a wholesale cannabis marketplace. This is impressive growth considering that the sales of recreational cannabis began a little over 12 months ago.
The Michigan Marijuana Regulatory Agency (MRA) will begin on March 1, 2021 start accepting forms for adult-use marijuana permits from any candidate. Agencies will no longer have to acquire a medical cannabis business license when applying for the adult-use license. This move is expected to open new opportunities for entrepreneurs interested in Michigan’s retail adult-use marijuana industry.
Cannabis legalization in many states for recreational and medical purposes is driving a surge in interest in its benefit to treating various long-term symptoms and conditions. Among the new users are older adults. An increasing number of adults between 70 to 90 are learning how marijuana may relieve some medical conditions that come with their mature years.
In late December 2020, Michigan Gov. Gretchen Whitmer signed into law House Bill 5085, allowing veterinarians to consult with pet owners on the use of hemp or marijuana products for their animals. A legislative analysis, titled “Allow Consultation with Veterinarian on Use of Marijuana or Industrial Hemp on an Animal”, notes that it opens up the vets’ freedom to either advice against or recommend offering pets cannabis in different forms. Research has shown the ability of cannabis to aid in the management of common ailments in pets, such as lowering stress levels and reducing inflammation.
The state Marijuana Regulatory Agency (MRA) on January 4th issued their new year’s first technical bulletin “Process to Obtain Agency Approval for Production of Marijuana-Infused Beverages”. These regulations set rules for firms that intend on producing weed drinks to do so but under a new submission process that includes product testing to meet strict requirements.
Current research about cannabis falls into one of two categories. There’s the category of research that remains stalled and the category focused more on the harms of the drug than anything else. Marijuana researchers are faced with having to get funding from federal agencies, which is a problem considering marijuana remains illegal on the federal level. Doing research on the harms of marijuana is much easier considering the power that weed opponents yield in the fight to keep it illegal. The battle between states where marijuana is legal and federal agencies that have to abide by the fact that it’s illegal at their level rages on.
The hemp industry in Michigan is not that old at all. People have only been able to grow the crop since 2019. As such, new crops and businesses are coming out of the woodwork to take advantage of this new opportunity. With something so new, there are bound to be any number of challenges. While the bugs are being worked out and a process is being developed for not only growing hemp, but also getting it in the hands of people who want to buy it, the people who are taking part in this calculated experiment will have to carry on. Their efforts as pioneers in this budding industry should be recognized and what they discover must be remembered.
Having marijuana become legal medically or recreationally in certain parts of the country is all well and good. The fact remains that it’s still illegal at the federal level and that status shows no sign of changing. Luckily, it seems like federal laws are only thrown into the mix for people who acquire, grow, or distribute large quantities of marijuana. Anyone who decides that they will continue to follow the laws in their state will have a much lower chance of facing penalties. This is why it’s important to continue to be careful even though the legal status has changed.
One of the biggest issues that still exists even though marijuana has become legal either medically or recreationally is how marijuana businesses manage their money. Since marijuana remains illegal on the federal level, businesses that operate in the marijuana industry are unable to gain access to the same financial institutions as businesses from other industries. With limited options for storing their money, marijuana businesses have to carry significant amounts of cash from place to place and store their funds in their establishment or hope they will remain safe offsite. Special considerations have to be taken for marijuana businesses to successfully manage their money in the current climate.
In 2019, a cloud fell over the marijuana industry that had nothing to do with their product being smoked. This cloud came in the form of people suddenly becoming ill with serious, life threatening lung diseases. Officials were left scratching their heads trying to figure out what was going on. Eventually they came to the conclusion that it had something to do with vaping, but they were having a hard time figuring out the exact cause. This confusion resulted in a ban on flavored nicotine vaping cartridges and considerably more scrutiny and regulations being placed on the industry.
States across the country are reporting increases in marijuana sales, breaking records they previously established in years prior. The amount of people who are purchasing marijuana legally goes up with each passing day. More states are legalizing weed, which will add more to the amount of money that’s brought in. Tax rates continue to climb as well, adding to the revenue being earned even more.
As marijuana continues to become legal throughout the country for medical or recreational purposes, states are continuing to grapple with the requirements they place on people who are trying to acquire marijuana. One requirement they’re beginning to discuss is requiring people who want to purchase marijuana to do so from businesses that are run by residents of that state. This particular requirement has nothing to do with whether or not the person who’s doing the purchasing is a resident. It’s all about limiting citizens from doing business with weed establishments run solely by people who live within the state.
Figuring out how to order marijuana legally online might seem tricky at first, but it’s something that’s becoming easier by the day. Many dispensaries located in legal states allow their customers to place orders online, which are delivered through various third-party services. The current pandemic is allowing for customers to place their orders online and pick them up curbside at their local dispensary. Unfortunately, since people are so desperate to get their hands on this product when they need it, a slew of illegal delivery options have popped up.