Buying cannabis can be intimidating. When you enter a cannabis shop, you are met with a massive selection of products. How do you even begin to navigate your options? Why would you spend $60 on an eighth of Purple Punch that is 23% THC when there is a $20 eighth from a different brand with 28% THC? And it can be even more challenging if you’re buying online and can’t see the product.
Cannabis sales were soaring in March, especially during the first half of the month as the coronavirus became a global pandemic. Washington state saw a 9% increase in March's revenue from cannabis compared to the prior year, California's sales were up 53% year over year (although in previous months, its growth rate was around 75%), and Oregon posted record monthly revenue of $84.5 million, up from $61.2 million a year ago.
The league’s new labor agreement eased rules about players’ use and caught up with many sports that had already liberalized their policies.
The 10-year labor agreement between the N.F.L. and players union that was ratified on March 15 is filled with dozens of incremental changes, most notably the one-percentage-point increase in the share of league revenue that the players will receive.
As the seriousness of the coronavirus outbreak reached Americans, they responded by stockpiling essentials like toilet paper, hand sanitizers, and flour. They also bought marijuana like it was 4/20. Though cannabis sales aren’t as high as they were following a coronavirus-related spike, the same can’t be said about consumers.
The COVID-19 pandemic has brought the global economy to its knees. As the cases keep increasing and impacting people worldwide, economies and businesses keep paying a price. Many cities and countries have closed all non-essential businesses. Luckily, Canada announced that marijuana is an essential item. The demand for medical marijuana across the US also forced many states to make it as an essential item. The classification led to increased marijuana sales. However, the marijuana industry continues to struggle with many other issues.
In response to the devastating economic impact of the coronavirus pandemic, Congress came to the rescue of American businesses, small and large, by approving an estimated $2 trillion stimulus package, known as the Coronavirus Aid, Relief, and Economic Security Act.
The COVID-19 pandemic posses special challenges for everyone, especially farmers. What started in the cities on both coasts will infect the farm belt too and when it does it will present unique challenges.
Michael Patterson is the CEO and founder of US Cannabis Pharmaceutical Research and Development; and has more than 25 years’ experience in the healthcare sector.
Patterson tells MCN about the challenges posed by federal and state legislation in the USA and the future of American cannabis policy.
