Cannabis Legalization
Michigan Expected to Rival Colorado for Recreational Marijuana Market
With the recent legalization of recreational marijuana in Michigan, a new report by Brightfield Group says Michigan will surpass marijuana sales of large states including Colorado.
According to Detroit Metro Times, by 2023, it is expected that the marijuana market will triple in size, reaching about $650 million or 3% of the overall marijuana sales in the whole of America.
“We’re seeing a shift from the West Coast to the East Coast. Cannabis is not just for West Coast hippies anymore. It’s a growing industry and it’s everywhere,” said Brightfield’s Research Director Kay Tamillow.
One thing that contributes to the increase in sales is that 3% of Michigan residents have a medical marijuana card. This document lets an individual purchase cannabis and THC-infused products for medical purposes.
Growers and Manufacturers Eyeing Michigan for Operations
Because the state’s medical marijuana market is already attracted interest, different cannabis companies and growers are eyeing expansion to Michigan.
The partnership of Wana Brands, a Colorado edible business, with Michigan cultivator VB Chesaning LLC shows that companies are slowly marking this territory for cultivating, processing and retail operations in Michigan.
Meanwhile, New York-based Acreage Holdings acquired Michigan-based Blue Tire Holdings to produce its products in the state.
Another good thing for businesses is that Michigan doesn’t have a license cap, which means, the number of businesses operating in the state isn’t regulated. However, criminal records and financial disclosures are required to get cannabis license.
Sales Tax on Recreational Marijuana
Another revenue generator is the expected increase in recreational marijuana taxes in the state. For this year alone, the Michigan State Fiscal Agency is expecting about $77.1 million revenues from these taxes and $260 million in 2023.
The tax is slightly lower compared to other states like California, where retailers collect 15 percent tax from customers. Oregon also charges high taxes on marijuana products, about 17 percent for sales tax.
Meanwhile, the state that charges the highest tax on recreational marijuana in Washington, about 37 percent for sales.
Overall, there are ten states that legalize the recreational use of marijuana: Alaska, Colorado, Maine, Michigan, Massachusetts, California, Oregon, Washington, Nevada and Vermont. However, only eight of these have markets where the substance can be legally bought and sold.
Regulations in marijuana use and retail is still yet to be finalized, however, Michigan has a lot of potential for the marijuana market.
Cannabis Legalization
The Wonderful World of Weed Edibles
Smoking anything can be very harmful to your body and many people prefer not to smoke. Although some people believe that smoking marijuana is better for your overall health than smoking cigarettes, the smoke can still have harmful effects. Sometimes people want an alternative. They want to feel the effects of marijuana, without actually smoking it. Weed edibles are the best way to do so. In this article. we’re going to be talking about what are weed edibles and how they affect your body and the modern cannabis market of today.
What Are Weed Edibles?
Weed edibles are different kinds of foods and drinks that have been infused with marijuana. This is achieved by creating marijuana oil and adding it to a desired food or drink. Some may argue that a drink infused with marijuana is not a weed edible, as you drink it, not eat it, but they may refer to it as a weed drink. The most common types of edibles include baked goods and candies, but the possibilities are endless when it comes to weed edibles. If marijuana and weed edibles are legal in your state or whichever country you live in, you can purchase premade weed edibles at a marijuana dispensary. You can also make your own if you have access to some cannabis.
How Do Weed Edibles Effect The Body?
There are two main types of weed edibles that you can purchase; THC weed edibles or CBD weed edibles which both have different effects. THC or Tetrahydrocannabinol is a cannabinoid and the main psychoactive component in marijuana. CBD or Cannabidiol is one of the major active ingredients in cannabis that comes from the hemp plant which is apart of the marijuana family. If you choose a weed edible with THC, then you will feel a high or a sense of euphoria and some sedation, whereas if you choose CBD, then you won’t experience a high, but you may feel more relaxed or relief from any chronic pain you may be suffering from.
Weed edibles can be a great option if you don’t want to smoke marijuana, but you do need to be careful of how much you eat as they are a lot more potent than your average joint. When eating weed edibles, it is absorbed differently than if you were to smoke it. In short, when cannabis is consumed rather than smoked, it gets metabolized by the liver and changed from delta-9 THC to 11-hydroxy-THC. This creates more of a psychedelic effect which is completely different compared to your average high.
Another thing is that it is a lot easier to dose yourself correctly when you smoke because you can control how much weed you want in your joint, blunt, or bong. With weed edibles, if you eat too much, you may experience extreme paranoia especially if you are inexperienced with marijuana plus it takes longer to feel the effects from an edible than if you were to smoke, so it can be very easy to consume too much. If you are new to marijuana and experimenting, then it is advisable if you decide to eat a weed edible, you only eat a small amount and see how you feel after 30 minutes- 1 hour.
To conclude, weed edibles can be the perfect alternative if you want to feel the effects of marijuana without smoking. There are tons of options in regards to the type of edibles you can get and the effects they have on your body. Whether you choose a CBD weed edible or a THC weed edible, make sure to do your research beforehand and decide which type and how much is right for you. Talk to friends and family that have experience which weed edibles and marijuana or even a budtender at your local dispensary as they may be able to guide you in the right direction. Just have fun and be safe while experimenting, because marijuana has great effects and can be a lot of fun plus help with a lot of issues.
Cannabis Legalization
Why Cannabis Stocks Could Take the World by Storm in 2021
It’s been quite a turbulent year so far, and the world is not entirely out of the woods yet. 2020 was “supposed” to be the dawn of a new decade meant to uplift and inspire all; what a let down it has been for the vast majority of us. As the year closes out, we are all hoping for a more prosperous future ahead. It shouldn’t be too far fetched given just how low of a low we all experienced throughout 2020.
Since the days of marijuana prohibition, marijuana was thought to be this harsh, addicting substance that was a gateway to other “harder” drugs. Adults have kept it away from their children and anyone who used it could easily be deemed a “drug addict,” a “washout,” or a “lush”. All of these were based on falsehoods and the truth is now coming to come to light.
Marijuana and Hemp CBD have definitive medical benefits and many studies are emerging to justify these claims. There are far more harmful substances out there that are currently legal in most of the world such as tobacco and alcohol. It’s looking like the world is starting to understanding the truth about “weed” and that it’s not the horribly addictive and destructive substance that it was hyped up to be in the past. As we ascend into 2021, will cannabis stocks be the next big investment craze? Only time will tell.
As the new year rolls around, you may be looking for ways to diversify your financial investments and cannabis stocks could very well be the vehicle to do so in 2021. If you’ve been paying attention at all this year, you may have seen marijuana stocks all over the news and expectations of it being legalized on a federal level this year. Whether you are a cannabis enthusiast or just someone who is looking to take on the future in a progressive way, there is no way to overlook marijuana stocks in 2021.
2020 was a year of many firsts, such as the football team located in the nation’s capital losing their name (Formerly known as the Washington Redskins), the Pope endorsing same-sex civil unions, and Kamala Harris becoming the first female vice president. Speaking of the vice president-elect, the world flooded into cannabis stocks just after Mrs. Harris mentioned her endorsement of the MORE Act, which would expunge weed convictions and make marijuana legal on the federal level in the United States of America. Stocks like Tilray ($TLRY), Aurora ($ACB), Aphria ($APHA), and Canopy Growth Group ($CGC) skyrocketed shortly after the name drops.
Conclusion
There is no doubt that the buzz around cannabis this year is one of the significant “high” lights that will trend into the new year. Cannabis are on a tear, and there are even Special Purpose Acquisition Company’s (SPAC’s) being created to harvest the growth in the cannabis industries. It is quite possible that cannabis could be the next real global revolution in health and it’s definitely something to keep in mind in terms of your financial portfolio.
Cannabis Legalization
Quick Facts About CBD Laws and Use in France
For French residents and the millions that travel there annually (Pre COVID, of course), the French culture is a bright, vibrant, and progressive one. People live their daily lives and work hard to establish a stable future and a legacy that they can be proud of. That likely will not change in our lifetime; however, one thing that has changed over the years is the CBD legislation in France.
What is the legal status of CBD in France?
While cannabis laws vary quite a bit in the European Union(EU), France is known to take a more liberal stance with many substances in the past, but cannabis is not one of them. As of today, the use of cannabis in France is illegal. This means you are not allowed to smoke or consume edibles with high THC in them. If you are not familiar, THC (Tetrahydrocannabinol) is the psychoactive ingredient that gives users that “high” feeling in the head and body, depending on the strains you consume. On the other hand, CBD from hemp is legal and can be found in many stores and health food shops around the country. With that said, there are undoubtedly many restrictions around the packaging and sale of any CBD products. As with most countries, companies that produce CBD for the mass market are not allowed to make any medical claims. Also, like the United States, CBD must have an overall THC content of less than 0.2% to be sold legally. This means full-spectrum CBD is currently not legal.
Where can CBD be found in France?
CBD oil and other products that contain the substance can be found in-store or online in France. Familiar places to purchase CBD are in health & wellness shops and even local convenience stores. As CBD use continues to grow in popularity, more shops are looking to stock and distribute them to interested customers. The same is happening online, where CBD companies are flourishing amid the current pandemic.
Typical products are CBD infused beverages, beauty products, and even pet treats.
Can you grow hemp for CBD in France?
For the record, France is one of the only countries in the western world that has never banned growing hemp for CBD production. It is frequently used to make paper and clothing products and is 100% legal as of today. France is the largest producer of hemp in the EU.
Conclusion
Although the cannabis Sativa plants used to create high THC strains are not legal, CBD, and all products in the CBD realm are currently legal and thriving in France. You can find CBD oil in tinctures all over the country, and it should all comply with countrywide regulations of not being a consumable and not stating any medical claims to cure any illness.
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