highgreennews

Opponents of an initiative that would legalize the recreational use of marijuana in Arizona have filed a lawsuit to keep the issue off the ballot in November.

The lawsuit, by Arizonans for Health and Public Safety, argues that the initiative’s backers did not accurately describe the measure in a 100-word summary included on petitions that voters signed for it to qualify for the general election.

The group contends that the summary should have included or at least expanded on a range of details in the 16-page initiative.

As new daily coronavirus infections continue to break records in the U.S., researchers are considering whether the cannabis plant has the potential to be used in the treatment of COVID-19.

Experts from the University of Nebraska and the Texas Biomedical Research Institute are recommending that scientists study the anti-inflammatory properties in CBD as a potential treatment for lung inflammation caused by the coronavirus.

This is the definitive, continually updated map of where states are in the process of going green. Whether it’s legalizing full recreational use or just medical marijuana, this map will show updates to marijuana legalization as they happen.

How to read this map:

By Warren Bobrow

Cannabis sales in Colorado set a new monthly record in May, reaching their highest level since broad legalization in 2014.

Dispensaries sold over $192 million worth of cannabis products that month, according to data from the state Department of Revenue’s Marijuana Enforcement Division compiled by The Denver Post. That figure is up about 29% from April and 32% from May 2019.

On October 17, 2018, thousands of Canadians waited outside cannabis shops to finally buy the drug legally for the first time in the nation’s history.

That same day, while attention was turned to the shops, the Canadian government promised to undo a great historical wrong: People convicted of single cannabis possession in the past could apply to have those records suspended.

More than a year after legal stores opened, only 436 Canadians have applied to have their cannabis sentences suspended.

The past year has been a tough one for publicly traded cannabis companies, particularly multi-state operators in the United States, many of whom have seen their valuations drop to a quarter of their early 2019 highs. This decline in value coupled with the current Covid-19 virus-fueled economic downturn has many investors sitting on the sidelines. But a host of factors are brewing that could cause a powerful tailwind for the U.S. cannabis industry.

During the last year, we have noticed increased interest in the Israeli cannabis market and this is a market that we have been favorable on since inception. The climate in Israel is ideal for cultivating cannabis and we are bullish on the industry due to the economics that are associated with it.

Cannabis legalization will likely be an important issue for the U.S. presidential election of 2020.

That's according to a research report by Bank of America Securities analysts Bryan Spillane and Lisa Lewandowski.

However, the COVID-19 pandemic could put the debate on hold, they said.

The analysts break down the hypothesis into four elements, which include congressional activity, the Unity task force formed by Democratic candidate Joe Biden and Vermont Senator Bernie Sanders, cannabis taxation and legalization measures at the state level. 

As any marijuana stock investor can tell you, the past 15 months haven't been pretty for pot stocks. Since April 2019, the vast majority of cannabis stocks have lost 50% or more of their value as growing pains have taken shape. In Canada, supply issues have led to everything from shortages to bottlenecks. Meanwhile, high tax rates on legal product in the U.S. have ensured that black market demand remains robust.