420 with CNW — Study Finds Higher Increase in Home Valuations in Legal States vs. Cannabis Prohibitionist States

Home values in states with legal cannabis markets have grown at significantly faster rates over the past decade compared to prohibitionist states. According to a Leafly and Real Estate Witch study, homes in cannabis states are 41% higher in value than homes in states without legal cannabis markets.

The paper looked at the potential impact of recreational or medical cannabis markets on average American home prices from 2014–2023.

Although states such as California began legalizing medical cannabis more than a decade ago, the past decade has seen a multitude of states legalize the controversial plant. With dozens of states now allowing medical and recreational cannabis, tens of millions of Americans now have access to either medical or adult-use marijuana.

However, several states still outlaw both recreational and medical cannabis, meaning there are plenty of Americans who are still criminalized for cannabis possession and use.

Cannabis remains the most used drug in the country, even in states that still criminalize it, and it seems the drug may now be affecting real estate values across the country. The analysis revealed that average home prices in states with recreational cannabis markets increased by $185,075 since 2014 compared to $136,092 in states without adult-use markets.

As a result, average home prices in recreational cannabis states hit $417,625 by the end of the study period while average home prices in nonrecreational marijuana states were 41% lower at $295,338. States with medical marijuana markets also registered faster home value growth compared to states without medical cannabis reform, growing by an average of $166,609 since 2014 compared to $137,320 in prohibitionist states.

According to the report, it isn’t surprising that states that embraced cannabis reform are registering significant increases in home values because real estate always appreciates over time. However, the gap between states with cannabis markets and prohibitionist states “sticks out like a green thumb,” the report noted.

There was even evidence of cannabis reform affecting home values at local levels with cities that had licensed cannabis retailers seeing an average home price increase of $168,292 since 2014. In comparison, cities without cannabis dispensaries saw an increase of only $100,933 in the same period, indicating that cannabis legalization may have some effect on property values.

Leafly vice president of brand and communication Josh deBerge said the report is evidence of what many cannabis community insiders have known for a long time: cannabis reform does not diminish property values. Rather, licensing cannabis firms such as Curaleaf Holdings Inc. (CSE: CURA) (OTCQX: CURLF) boosts demand for residential and commercial property.

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CNW420 spotlights the latest developments in the rapidly evolving cannabis industry through the release of two informative articles each business day. Our concise, informative content serves as a gateway for investors interested in the legalized cannabis sector and provides updates on how regulatory developments may impact financial markets. Articles are released each business day at 4:20 a.m. and 4:20 p.m. Eastern – our tribute to the time synonymous with cannabis culture. If marijuana and the burgeoning industry surrounding it are on your radar, CNW420 is for you! Check back daily to stay up-to-date on the latest milestones in the fast -changing world of cannabis.

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420 with CNW — Scientists Discover Little-Known Compounds That Give Marijuana Unique Flavors

Scientists from the American Chemical Society have identified previously undiscovered cannabis compounds that they say are actually responsible for marijuana’s unique flavors. For the longest time, the conventional knowledge has been that chemical compounds called terpenes create the distinctive aromas of different cannabis strains. Marijuana is estimated to contain close to 400 terpenes, but researchers have discovered only around 200 and studied more than a dozen.

Outside of the cannabis plant, there are more than 20,000 known terpenes, which create the unique flavors and aromas of flowers, herbs, fruits and vegetables. As such, the assumption was that terpenes were also responsible for the aromas produced by various marijuana strains. However, the recent American Chemical Society study challenged conventional knowledge through the discovery of previously unknown compounds and raised questions surrounding the true source of marijuana’s varied and unique flavors.

The study involved a research team from cannabis testing and extraction companies. The researchers wrote that the role of terpenes in cannabis aroma variety seemed to be blown out of proportion. Terpenes account for an estimated 1% to 4% of a cured cannabis flower’s total mass, the researchers said, and while the terpenes contribute to the plant’s overall smell, they don’t play a major role in creating the “peculiar aromatic attributes” of different marijuana varieties.

According to the researchers, most of the aromatic information for various cannabis strains comes from flavorants, a group of chemicals encompasses compounds, including alcohol and esters. The researchers say they discovered various “nonterpenoid compounds” upon analyzing 31 samples of ice hash rosin.

They specifically noted a novel group of tropical volatile sulfur compounds (VSCs) that significantly contribute to the strong aroma of tropical fruits such as citrus as well as a highly aromatic compound called skatole (3-methylindole). Flavorants are also largely responsible for exotic scents in Gelato, Skittles, Runts and Apple Fritters.

TJ Martin, the research & development VC of Abstrax, an extraction company, says the research team found a clear connection between previously undiscovered cannabis compounds and the plant’s notoriously pungent aromas. The team found that although terpenes played a role in producing marijuana aromas, they weren’t essential in the differentiation of aromas in various cannabis strains.

Terpenes are often used to differentiate different cannabis varieties, but Abstrax CEO and cofounder Max Coby notes that this often results in inaccurate classifications. Max says the research team’s discovery will play a significant role in the validation of marijuana authenticity as well as the accurate classification of different marijuana varieties.

It wouldn’t be surprising if major marijuana companies such as Curaleaf Holdings Inc. (CSE: CURA) (OTCQX: CURLF) provide the detailed flavoring profiles of their future products in order to differentiate their offerings from other products on the market.

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420 with CNW — Studies Assert Cannabis’ Safety over Tobacco

Approximately twice as many individuals in the United States perceive that smoking cigarettes poses a more substantial threat to one’s well-being compared to smoking cannabis, and they are correct. Numerous investigations examining the prolonged health consequences of inhaling marijuana smoke dispel the myth that cannabis carries the same well-established detrimental respiratory risks as tobacco.

A case in point is the federally funded study conducted at the University of California where researchers examined the lifetime risk of developing lung cancer among more than 2,000 individuals who were long-term users of marijuana and tobacco or abstained from smoking. The results revealed that those who habitually indulged in tobacco smoking were confronted with a lung cancer risk 20 times higher than nonsmokers, while those who exclusively smoked marijuana showed no increase in their risk.

The lead author of the study expressed that the team’s initial hypothesis of a positive link between marijuana use and lung cancer was entirely refuted as the findings indicated no association and even suggested a potential protective effect.

In a more recent study, a group of healthcare experts contributing to the “Chronic Obstructive Pulmonary Diseases” journal ascertained that past or current cannabis smokers, regardless of cumulative lifetime consumption, did not experience a progression or onset of COPD.

Various other studies assert that the carcinogenic properties of cannabis smoke do not rival those of tobacco and individuals who exclusively use marijuana are exposed to fewer carcinogens and toxicants. Some scientists also propose that the anticancer properties of cannabinoids may mitigate the potential harms associated with inhaling smoke.

Recent research published in the “American Journal of Respiratory and Critical Care” reiterates the distinction, emphasizing that cannabis impacts lung function differently from tobacco. The consequences of widespread cannabis use do not necessarily mirror the harm attributed to tobacco smoking.

A review paper, authored by researchers at the University of Arkansas, unambiguously underscores the contrast, stating that the evidence regarding marijuana stands in stark contrast to the consistent proof of harm from tobacco, the world’s most lethal legal substance. Any conceivable toxicity related to marijuana pales in comparison.

This is not to imply that exposure to cannabis smoke is completely harmless. Marijuana smoke does contain some of the same toxins and particulates found in cigarette smoke. Certain studies have linked cannabis smoking to transient increases in sputum production, wheezing and an elevated bronchitis risk.

Nonetheless, adopting a vaporizer can substantially diminish exposure to combustive toxins. Laboratory research demonstrates that herbal marijuana vaporizers serve as an effective and safer medium for delivering THC, avoiding the inhalation of combustion byproducts. Furthermore, marijuana compounds can be incorporated into a diverse array of products that negate the need for smoking, including edibles and beverages.

The consistent message conveyed by these studies is unmistakable: the disparities in risks between marijuana and tobacco smoke are undeniably significant. This provides additional validation for the belief by enterprises in the cannabis space such as Curaleaf Holdings Inc. (CSE: CURA) (OTCQX: CURLF) that not only has marijuana been unfairly maligned for decades, its supposed risks have also been grossly exaggerated by prohibitionists.

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420 with CNW — International Report Says Drug War Compromises Efforts to Attain Environmental Justice, Fight Climate Change

An international coalition of advocacy groups has released a report outlining how the global war against drugs has compromised efforts to deal with the climate crisis and accelerated the environmental destruction of crucial ecosystems across the world. While the initial days of the drug war are long gone, especially in nations such as the United States, Canada and Australia, which are now embracing drug reform, its harmful effects are still felt in many facets of society.

One of the most dire results of the drug war was almost unparalleled growth in the illicit drug market that has significantly contributed to global organized criminal activity and impacted the environment in a myriad of harmful ways. This includes mind-boggling levels of water theft by the illicit cannabis industry and significant environmental damage by fertilizers, pesticides, fuels and all kinds of waste.

The International Coalition on Drug Policy Reform and Environmental Justice is comprised of artists, activists, academics and advocates from the environmental and drug-policy reform movements. The coalition published a 63-page report stating that its efforts to protect tropical forests across the globe will likely fail as long as climate change and environmental activists continue to ignore how global drug prohibition has impacted environmental justice.

With the world actively working to mitigate climate change amid increasing instances of disrupted and extreme weather, protecting tropical forests is crucial to mitigating global warming. Tropical forests are prolific carbon sinks and are estimated to store around 46% of all living terrestrial carbon in the world as well as around 11.55% of the globe’s soil carbon pool.

The report called drug policy the missing link in delivering proper climate justice, stating that prohibitionist drug policies have pushed illicit drug production and trafficking into key ecosystems such as the jungles in Southeast Asia as well as the Amazon.

Players in the illicit drug market cultivate drug crops and traffic illicit drugs through tropical forests because law enforcement puts them in that position, the report said. In cases where the cultivation of drug plants such as opium, coca and cannabis is legal and regulated by governments, cultivation almost always occurs in traditional agricultural settings.

Furthermore, the report noted that the money earned from illicit drug operations often funds further criminal activity that harms the environment, such as the illicit trade of tropical timber, wildlife, minerals, precious metals such as gold, archeological artifacts and even human trafficking. The drug war continues a cycle of persecution and poverty against the most vulnerable people in society, the report said, pushing them into the illicit drug trade as a means of desperate survival.

The report estimates that around 200,000 Colombian families currently make a living from growing coca as the financial benefits it offers supersedes persecution from the military and police. Furthermore, the drug war often incarcerates lower-level players such as farmers who often lose their livelihoods while top players face no consequences.

In jurisdictions where marijuana is legal, licensed companies such as Curaleaf Holdings Inc. (CSE: CURA) (OTCQX: CURLF) not only create well-paying job opportunities but also contribute to communities in various ways, such as paying taxes and giving ancillary businesses market for their products.

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420 with CNW — Marijuana Companies in Canada Tap Government Funding Programs

An increasing number of Canadian marijuana companies are tapping into funding sources from the government to expand their research projects amid reduced investor interest in the cannabis industry. According to a recent MJBizDaily report, cannabis companies in Canada have accessed more than $2.2 million (C$3 million) in federal funding over the past 12 months.

Cannabis companies in Canada and the United States have struggled to secure capital investment indecent years. The Canadian marijuana sector has registered especially poor performance, law firm Miller Thomson notes, costing investors some $131 billion and significantly damaging investor confidence in the industry.

With no other alternative, players in Canada’s marijuana industry had no choice but to turn to federal funding to support their capital needs. Canada’s government has been happy to oblige, providing around $24 million (C$32.8 million) in funding since the country legalized adult-use marijuana in 2018 to cannabis businesses via business-support programs.

Canada legalized recreational cannabis in October 2018 and allowed the possession of up to 30 grams of domestically produced marijuana, and up to four marijuana plants per household with adults aged 18 and older. In addition, provinces have the option of increasing the minimum age limit for purchasing, possessing and using cannabis. Furthermore, the cannabis legalization measure allowed businesses to produce cannabis under federal licensing while the distribution and sale of recreational cannabis was under the authority of provincial governments.

Thanks to limited investor interest in the sector, the Canadian government has provided millions of dollars to recreational cannabis companies. While most of the federal funding was invested in research-related activities, recreational cannabis companies also used the funding for business expansion.

In 2020, the now-defunct Tantalus Labs received $2.1 million (C$2.9 million) from the federal economic development body Western Economic Diversification Canada to expand a greenhouse. Tantalus Labs received the funding through the Regional Economic Growth’s Innovation Program.

Pbg Biopharma also secured $3.95 million (C$5.4 million) via the innovation program while Ricci Cannabis received $5,398 (C$7,380) through the National Research Council of Canada’s Industrial Research Assistance Program to commercialize a nonalcoholic marijuana beverage.

Cannabis company executives say federal funding is key to carrying out targeted research and development projects but caution against relying on government funding for regular business costs. Canna Stream Solutions CEO and cofounder Usukuma Ekuere says that without grant funding from the Canadian government, companies such as Canna Stream Solutions (which received $365,000 in funding) wouldn’t have gotten as far as they have.

U.S.-based marijuana companies, such as Curaleaf Holdings Inc. (CSE: CURA) (OTCQX: CURLF), also hope to one day operate in an environment in which they can access federal government support in the same way that actors in other industries can obtain funding to grow their businesses.

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420 with CNW — GOP Senators File Measure Seeking Congressional Approval of Marijuana Scheduling Change

Two Republican lawmakers have filed a measure that would force federal agencies to receive Congressional approval before they can reschedule cannabis. The Deferring Executive Authority (DEA) Act is sponsored by Senators Steve Daines and Cynthia Lummis, who provided brief previews of the measure during statements regarding the Secure and Fair Enforcement Regulation (SAFER) Banking Act.

The recently introduced measure would require any federal agency interested in rescheduling cannabis to first submit to Congress its proposal for transferring the Schedule I drug from one classification to another. Congressional lawmakers would have the chance to review the proposal and would be granted 60 session days to block the measure’s enactment via a joint resolution if they opposed it.

The two lawmakers introduced the measure weeks after the U.S. Department of Health & Human Services (HHS) recommended that the DEA reclassify marijuana to a lower schedule due to its proven medical applications and lower abuse potential. Lummis said in a press statement that Congress is in charge of crafting laws for the nation, “not DC bureaucrats.”

The DEA Act would allow Americans to “have the final say” on something as significant as cannabis legalization through their elected leaders.

Cannabis has been a controversial topic since states began legalizing the plant more than 20 years ago. While the cannabis movement enjoyed strong support from the reform movement and younger generations, many conservatives and even Democrats weren’t comfortable with the idea of legalizing a drug they considered dangerous and a gateway to criminal activity.

However, surveys now show that a majority of Americans support at least decriminalizing the plant, something that has become clearer as voters in state after state choose to legalize cannabis for either medical or recreational uses. In addition, President Biden based part of his campaign platform on decriminalizing cannabis and putting a final end to the era of cannabis prohibition. However, the administration has been accused of dragging its feet when it comes to cannabis.

The HHS’s recent recommendation to ease federal marijuana restrictions was part of a 2022 request by the Biden administration to review the nation’s federal marijuana classification. Although cannabis is now legal in dozens of states, federal law still considers it a Schedule I drug with no medical application.

Several lawmakers including Senate Majority Leader Chuck Schumer have pledged to introduce legislation to legalize cannabis at the federal level. However, Lummis said that the Biden administration’s race to reschedule the controversial plant seems to be steeped in political rather than scientific reasons.

Lummis was part of a group of GOP Senate and House lawmakers who sent the DEA a letter asking the administrator to reject the Department of Health and Human Services’ request to reschedule cannabis.

Marijuana companies such as Curaleaf Holdings Inc. (CSE: CURA) (OTCQX: CURLF) are probably waiting to see the final position that the DEA communicates regarding the cannabis scheduling review process since that change could have major implications on how they conduct their operations.

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420 with CNW — California Lawmakers Send Cannabis Cafe Bill to Governor for Enactment

The California Assembly has approved a bill to legalize marijuana cafes in the state; the body sent the bill to Governor Gavin Newsom’s desk for his signature. Bill AB 374 would allow recreational cannabis dispensaries to provide customers with noncannabis drinks and foods as long as they receive approval from local authorities.

Senate lawmakers received the measure from assemblymembers, made slight amendments, and approved it in a 33 to 3 vote nearly one week ago before sending it back to the assembly for a concurrence vote. The assembly voted in favor of the amended cannabis cafe bill just a few days after receiving it from the Senate in a 48 to 7 vote, putting it on track to becoming a law if it receives Governor Newsom’s signature.

Assemblymember Matt Haney introduced the measure and envisioned it going through a relatively quick concurrence vote due to “strong bipartisan support.”

While lawmakers in the state recently concluded working on marijuana cafe legislation, California has a grey market populated with businesses that found legal workarounds to provide cannabis for on-site consumption while providing food for guests. If Newsom signs the measure into law, entrepreneurs with authorization from local governments will be able to prepare and sell nonmarijuana soft drinks and foods to customers at retail establishments.

Haney’s bill would legitimize the industry while prohibiting smoking tobacco and the sale of alcoholic beverages at marijuana cafes. It would also allow cannabis lounges to hold live performances of different varieties and sell tickets to these events.

Although microbusinesses and retailers would have the authority to sell freshly prepared drinks and foods, only retailers would be allowed to sell prepackaged food to customers, keeping the cannabis cafe rules in line with policies adopted by the California Department of Cannabis Control (DCC) in late 2022. Senate lawmakers amended the cannabis cafe bill to make it clear that it prohibits the sale of hemp-based foods and drinks at marijuana cafes by clarifying that it does not consider such products to be “noncannabis” products. The measure also states that cannabis cafes should store and display noncannabis items separately and distinctly from any cannabis products on site.

California legalized recreational cannabis in late 2016 and quickly built up the largest recreational marijuana market in the world. Cannabis retailers in the state generate billions of dollars in revenue every year, and even though marijuana sales declined last year, California‘s cannabis market had a $2.2 billion valuation in 2022.

The regulatory change allowing cannabis cafes to operate in California is likely to be copied in other jurisdictions where marijuana is legal for adult use. As a result, companies such as Curaleaf Holdings Inc. (CSE: CURA) (OTCQX: CURLF) could find themselves having to adjust to this reality in the markets where they operate.

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420 with CNW — Maryland Sells Record-Setting $92M Cannabis During Second Month of Recreational Marijuana Sales

Maryland’s marijuana market achieved another milestone last month, with retailers notching almost $92 million in sales, marking the state’s second month of recreational cannabis sales. This surge represents a significant leap from July’s $87 million, illustrating the transformative impact of expanding cannabis access beyond the medical sector, more than doubling prior sales figures.

Data recently released by the state’s cannabis regulator, MCA, indicates that legal dispensaries tallied sales exceeding $91.7 million. Smokeable flower sales were in the lead at $55.1 million, followed by concentrates at $24.7 million, while infused edibles and nonedibles contributed $6.2 million and $5.2 million, respectively. Trim or shake products brought in $512,991, with marijuana plants contributing $9,588.

July saw a surge in marijuana sales, coinciding with the enactment of a law allowing the state’s medical stores to serve all adults aged 21 years and older. The opening weekend of this transition resulted in an impressive $10 million in cannabis product sales.

Multistate operators (MSOs) have emerged as prominent players in Maryland’s cannabis market, with companies such as Ascend, GTI, Verona and Curaleaf reporting the highest sales figures for the past month.

Later this year, Maryland officials will start taking applications for social-justice cannabis company licenses. The Social Equity Verification Portal, which MCA unveiled last week, will start letting potential applicants determine whether they qualify for the new licenses this week. Equity candidates will be the only ones eligible for the initial round of new cannabis grower, processor, and store licenses.

Maryland levies a 9% sales tax on cannabis for adult use; medical sales are excluded. This indicates that the policy change has already resulted in a few million dollars entering the state’s coffers.

A prohibitionist organization, Smart Approaches to Marijuana, has criticized the state’s management of tax collection. The group alleges that the state’s Office of the Comptroller was actively working to defend banks that were breaking the law.

The accusation was made following the publication of remarks made by Rob Scheerer, director of the Revenue Administration Division of the Maryland Office of the Comptroller, during a Maryland Association of Counties conference last month. Scheerer stated that to safeguard banks, the term “cannabis” could not be used on tax returns, instead employing the term “a sale subject to the 9% rate under SB516 of 2023.”

Both the Office of the Comptroller and Wells Fargo, its banking partner, have asserted that they adhere to the law.

The surging sales in Maryland suggest that the companies operating within that market could see the kind of success that enterprises such as Curaleaf Holdings Inc. (CSE: CURA) (OTCQX: CURLF) have enjoyed in the markets in which they operate.

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420 with CNW — Emergency Rule Grants Missouri Foster Parents Permission to Grow Cannabis at Home

A newly filed emergency rule by the Missouri State Department of Social Services will now allow foster parents to possess and grow cannabis at home. The Department of Social Services issued the emergency rule on the basis that the existing policies preventing foster parents in the state from legally growing cannabis in their homes are in direct conflict with Missouri’s recreational cannabis law.

Recreational cannabis has been legal for adults aged 21 years and older since late 2022 when Missouri voters approved an adult-use cannabis measure. The legislation legalized the purchase and possession of up to three ounces of marijuana and allowed registered adults to grow up to six mature cannabis plants for personal use.

However, foster parents in Missouri have until recently been barred from exercising these cannabis-related rights. A statement attached to the emergency rule’s text noted that Rule 13 CSR 35-60.040, which currently prevents foster parents from possessing cannabis or cannabis-infused products, is in conflict with the state constitution, making it invalid. The changes made to the state rule outlining standards for foster care by the emergency rule will remain in effect until Feb. 23, 2024.

According to the emergency rule, foster parents must ensure their cannabis is inaccessible to their foster children, much like how they are required to store items such as alcohol, medication and matches. The rule also requires that foster parents grow their cannabis plants in a locked and enclosed facility to prevent access by foster children. However, foster parents still can’t consume marijuana in any way that produces vapor or smoke inside their homes.

Social services spokesperson Caitlin Whaley said in a public statement that the new rule is meant to keep foster children safe by protecting them from the dangers of secondhand smoke. She said that foster parents can smoke tobacco and cannabis outside their homes and away from the children, but they aren’t allowed to smoke in the foster children’s presence or while enclosed in a vehicle with foster children.

Interestingly, a study published in 2022 revealed that recreational cannabis legalization in Missouri may have resulted in a 10% reduction in foster-care admissions. Researchers behind the study posited that federal cannabis legalization could save hundreds of millions of dollars in the foster-care system annually.

Most if not all state cannabis programs have strict rules intended to keep children away from cannabis. These regulations include stringent packaging and marketing rules that prevent cannabis companies from packaging cannabis products or marketing them in a way that attracts children.

As the remaining hallmarks of prohibition are rolled back in states where marijuana has been legalized, a time may come when people and companies in Missouri will operate in an environment similar to what entities such as Curaleaf Holdings Inc. (CSE: CURA) (OTCQX: CURLF) enjoy in the jurisdictions where they have operations.

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CannabisNewsAudio – Sugarmade, Inc. (SGMD) Contributes to the Thriving Kentucky Hemp Market

Related Editorial
Hemp may be taking the first steps to overtake tobacco as a leading industry in Kentucky.

Sugarmade Inc. (OTCQB: SGMD) (SGMD Profile) is among the companies moving into Kentucky, with a million-dollar investment in hemp growth. Hemp’s national prominence is growing through deals such as Aurora Cannabis Inc.’s (TSX: ACB) (NYSE: ACB) collaboration with United Fighting Championship (UFC). Research work by Tilray Inc. (NASDAQ: TLRY) may involve using hemp to treat a growing range of physical and mental ailments. Curaleaf Holdings Inc. (OTCQX: CURLF) (CSE: CURA) is serving states without a strong, homegrown hemp industry, such as Florida. In addition, companies across the cannabis sector, such as Cronos Group Inc. (TSX: CRON) (NASDAQ: CRON), are diversifying their product ranges as more hemp crops come online.

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Sugarmade Inc. is a product and brand marketing company investing in products and brands with disruptive potential. For more information, visit the company’s website at www.Sugarmade.com.

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