Cannabis News
Will the Marijuana Industry Be Worth $51 Billion by 2028 as a New Report Suggests?
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2 years agoon
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It seems that the growth of cannabis sales is poised to continue at a steady pace, as newly released data forecasts an ongoing upward trend in sales from now until 2028. Despite a current cannabis industry that is crashing by the day, the Brightfield group sees brighter days ahead for the marijuana market. Margins may compress to very small percentages, but overall sales could still power forward as more people gain legal access to cannabis at the state level and possible Federal legalization.
On February 16th, the Brightfield Group published their “U.S. Cannabis Market Forecast,” revealing a comprehensive analysis of cannabis sales in 2022. The research also includes projections for the following five years, from 2023 to 2028. Based on their report, the cannabis market is predicted to surpass $31.8 billion in sales by the end of 2022 and is expected to reach a staggering $50.7 billion by 2028.
Although some markets, such as Arizona and Colorado, have experienced a decline in cannabis sales recently, the overall outlook on the industry remains positive. According to Matt Zehner, the insights manager at the Brightfield Group, this can be attributed to the expansion of cannabis into new markets. As Zehner explained to Forbes, 2022 was a significant year for cannabis due to the commencement of sales in seven state markets, including six for adult use and one for medical purposes, with four starting operations only in the latter half of the year.
He added that the cannabis markets in highly-populated states, including New Jersey and New York, are anticipated to experience significant growth throughout the year. Despite their slow start, both states are expected to see a substantial surge in sales. In fact, New York only recently launched sales in the final days of 2022, with 2023 marking the state’s first full year in the cannabis market.
The current momentum is expected to persist this year as more states launch their cannabis programs, such as Maryland’s upcoming adult-use program. Additionally, as highlighted by Zehner, markets like Maine and Michigan have already demonstrated steady growth.
Regional Sales Forecast
According to the Brightfield Group, the potential for a multi-state hub for cannabis exists in the eastern region of the United States. With nine states on the East Coast already allowing medical cannabis and seven states legalizing adult-use cannabis, the groundwork has been laid for this to become a reality.
The West Coast states, including Washington and Colorado, are expected to witness a surge in adult-use cannabis sales, with projections indicating that sales could reach $11.5 billion by the end of 2023 and $15.3 billion by 2028. Remember, this is just absolute sales, not profit. Quanity over quality seems to be the prediction in this report. In addition to this, the more recent entrants into the adult-use cannabis market, such as New Mexico and Arizona, are also expected to make significant contributions to this growth. However, medical cannabis sales on the West Coast are expected to decrease from $2.3 billion in 2022 to $2 billion by 2028.
The Midwest region is also poised for a tremendous surge in cannabis sales, with Missouri set to commence sales soon. Additionally, while adult-use sales have yet to be approved in Ohio and Minnesota, these markets are expected to legalize in the coming years, paving the way for significant growth. Conversely, the Southern region of the U.S. is expected to experience less change, with medical cannabis sales remaining the primary focus in this area.
The popularity of Cannabis Products
Brightfield Group’s research also delved into the popularity of various cannabis product categories. Flower continues to be the leading product category, with $11.6 billion in sales in 2022. Vape products closely followed with $5.9 billion in sales by the end of last year, while cannabis-infused beverages reached $290 million in 2022 and have the potential to soar to $640 million by 2028.
Various market reports indicate that the growth of cannabis and other psychedelic drugs will persist in the coming years. A Brandessence Market Research report published in January projected that the global market for psychedelic drugs, including psilocybin, LSD, and ketamine, could exceed $4.87 billion in 2022 and $11.82 billion by 2029.
According to the report, the market for psychedelic drugs has already become highly competitive, with businesses fiercely vying for a share of the market. This is due to the increasing acceptance of psychedelics as a treatment option for specific medical conditions. The report notes that the rising prevalence of mental disorders, including depression, and the subsequent demand for treatment are key factors contributing to the growth of the psychedelic drugs market.
Furthermore, changes in lifestyle and the desire for a higher quality of life are also expected to drive market expansion. The increase in research and development initiatives in the psychedelic medicine sector is projected to propel the market growth during the forecast period.
The burgeoning hemp industry is also set to experience significant growth, with an estimated projection of up to $18.1 billion by 2027.
Conclusion
The cannabis industry is poised for continued growth and expansion over the next several years, with new markets opening up and existing markets seeing steady growth. The Brightfield Group’s “U.S. Cannabis Market Forecast” provides valuable insights into the industry’s trajectory, with projections indicating that the sector will reach over $50 billion in annual sales by 2028. Similarly, the hemp industry is also expected to see a significant increase in value, highlighting the growing interest in alternative products that have therapeutic benefits. In addition, the report from Brandessence Market Research suggests that the acceptance and demand for psychedelic drugs are rising, making it another emerging market that could see tremendous growth in the future.
As the industry continues to evolve, so will the landscape of regulations, consumer preferences, and product offerings. The potential for continued growth in these markets presents numerous opportunities for businesses and entrepreneurs to develop new and innovative products and services that cater to the evolving needs of consumers. With so much growth potential, the cannabis, hemp, and psychedelic industries are sure to remain hot topics of interest in the years to come.
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Is the DEA Rigging the Cannabis Hearings like Tyson vs. Paul?
Published
2 hours agoon
December 13, 2024By
admin
In a striking turn of events in the ongoing saga of marijuana legalization in the United States, the Drug Enforcement Administration (DEA) is facing a lawsuit that raises serious questions about transparency and accountability. An attorney has accused the DEA of concealing emails related to its communications with Smart Approaches to Marijuana (SAM), a prominent anti-marijuana organization. This article delves into the details of the lawsuit, the implications of these allegations, and the broader context of marijuana policy in America.
Understanding the DEA and Its Role in Drug Policy
What is the DEA?
The DEA, established in 1973, is a federal agency tasked with enforcing drug laws and combating drug trafficking. It plays a crucial role in regulating controlled substances, including marijuana, which is classified as a Schedule I drug. This classification indicates that marijuana is considered to have a high potential for abuse and no accepted medical use—an assertion that many advocates dispute.
The Changing Landscape of Marijuana Legislation
Over recent years, public opinion on marijuana has shifted dramatically. As of 2024, numerous states have legalized cannabis for both medical and recreational use, reflecting changing societal attitudes. However, federal law remains unchanged, creating a complex legal environment where state laws often clash with federal regulations.
Spotlight on Smart Approaches to Marijuana (SAM)
Smart Approaches to Marijuana (SAM) was founded in 2013 by former Congressman Patrick Kennedy and Kevin Sabet and others who oppose marijuana legalization. The organization argues that legalizing cannabis poses risks to public health and safety, particularly for young people. SAM advocates for policies aimed at preventing substance abuse and emphasizes the need for more research into marijuana’s potential harms.
SAM’s Influence on Policy
SAM has been influential in shaping public discourse around marijuana policy. The organization has lobbied against various legalization efforts at both state and federal levels, raising concerns about addiction, mental health issues, and impaired driving associated with cannabis use. Their advocacy efforts have caught the attention of lawmakers who are cautious about fully legalizing marijuana.
The Allegations Against the DEA
The FOIA Request
The controversy began when an attorney filed a Freedom of Information Act (FOIA) request on October 29, seeking access to emails exchanged between the DEA and SAM. FOIA is designed to promote transparency by allowing individuals to request access to records from federal agencies. However, according to the attorney, the DEA failed to respond within the legally required timeframe typically 20 business days.
Claims of Concealment
The lawsuit claims that the DEA intentionally concealed communications with SAM that could reveal *ex parte* discussions—conversations that occur outside formal proceedings without all parties present. Such communications could compromise the integrity of regulatory processes, especially regarding the rescheduling of marijuana.
The attorney argues that these hidden emails might contain crucial information about how SAM’s perspectives may have influenced DEA policy decisions concerning marijuana rescheduling. Given that the DEA has been reviewing its stance on cannabis amid shifting public attitudes, these allegations carry significant weight.
The DEA’s Response
In response to these allegations, the DEA has firmly denied any wrongdoing. A spokesperson characterized the claims as “unfounded gossip,” asserting that they comply with all legal requirements regarding FOIA requests. The agency maintains that its communications with SAM were routine interactions with various stakeholders involved in drug policy discussions.
Implications of the Lawsuit
This lawsuit raises important questions about transparency within federal agencies like the DEA. If government agencies are not forthcoming with information regarding their interactions with interest groups, it can lead to public distrust and skepticism about their decision-making processes. Transparency is essential for ensuring accountability in government actions—especially in contentious areas like drug policy.
Potential Consequences for Marijuana Rescheduling
The outcome of this lawsuit could have significant implications for ongoing discussions about marijuana rescheduling. If it is revealed that SAM’s influence has played a substantial role in shaping DEA policies without proper disclosure, it could lead to calls for stricter regulations on how federal agencies interact with advocacy groups. Furthermore, this could impact debates over whether marijuana should remain classified as a Schedule I substance or be rescheduled to allow for broader medical use.
Navigating Conflicting Laws
As states continue to move toward legalization and decriminalization of marijuana, federal agencies like the DEA must navigate a rapidly changing landscape. This lawsuit highlights tensions between state-level reforms and federal enforcement policies. If federal agencies are perceived as being unduly influenced by anti-legalization groups without transparency, it could hinder progress toward more equitable drug policies.
Public Reaction and Media Coverage
Media Spotlight
The lawsuit has attracted significant media attention, reflecting widespread public interest in marijuana policy issues. Coverage has focused on both the legal aspects of the case and its broader implications for drug policy reform in America. Journalists have highlighted concerns about transparency and accountability within government agencies while also examining SAM’s role in shaping public perception.
Shifting Public Sentiment
Public sentiment regarding marijuana legalization continues to evolve. Polls indicate that a majority of Americans now support legalization for recreational use, while many others advocate for expanded access to medical cannabis. As such sentiments grow stronger, any perceived obstructionism by federal agencies can lead to increased frustration among advocates and voters alike.
The Future of Marijuana Policy
As this lawsuit unfolds, it is likely to become part of a larger narrative surrounding marijuana policy reform in America. Legal battles over cannabis regulation are expected to continue as states push back against federal prohibition while advocating for more progressive policies.
Legislative Changes on the Horizon?
In addition to ongoing litigation, there are also legislative efforts at both state and federal levels aimed at reforming marijuana laws. Discussions around comprehensive cannabis reform bills have gained traction in Congress, reflecting growing bipartisan support for addressing outdated cannabis laws.
Conclusion
The lawsuit against the DEA regarding the alleged concealment of communications with Smart Approaches to Marijuana (SAM) highlights critical issues of transparency and accountability in drug policy formulation, especially as public attitudes toward marijuana evolve and states advance legalization efforts; this case underscores the necessity for open dialogue between government entities and advocacy groups—whether pro- or anti-marijuana—to ensure that policies genuinely reflect public interests rather than hidden agendas, and as the legal battle unfolds, it is poised to shape perceptions of government integrity and future directions in U.S. cannabis policy reform. In an era where transparency is essential for fostering trust between citizens and their government, this lawsuit represents just one chapter in the ongoing narrative of how America navigates its complex relationship with cannabis, an issue that continues to evolve alongside societal values and scientific understanding; moving forward into an uncertain future regarding cannabis policy, it is clear that how these discussions are handled will significantly influence not only legal frameworks but also societal approaches to substance use and public health.
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Cannabis News
Got Lower Back Pain? Try Some Cannabis Edibles
Published
3 hours agoon
December 13, 2024By
admin
Marijuana Edibles Work Well For Lower Back Pain – Edibles Are Reliable For Long-Lasting Pain Relief
Lower back pain is a common health condition faced by many adults aged 18 and up. According to the World Health Organization, 619 million people worldwide were affected by lower back pain in 2020 alone.
Lower back pain can be challenging to treat. It can be caused by a multitude of factors, ranging from musculoskeletal causes, bad posture, an unhealthy lifestyle, obesity, injuries, stress, or medical conditions. Sometimes, more serious cases of lower back pain can be caused by fibromyalgia, arthritis, osteoporosis, or other more serious conditions.
Prompt treatment of lower back pain is critical to improving one’s quality of life, especially if it coexists with other medical conditions. The lower back plays an important role in overall function and mobility, so without treatment, lower back pain can significantly restrict movement and affect one’s abilities to exercise and do basic tasks. In addition, it’s necessary to avoid complications.
There are several treatment options available for lower back pain, including physical therapy, medications, and perhaps lifestyle changes – depending on the cause. However, researchers have found that cannabis is particularly effective at targeting an array of pain conditions – including lower back pain.
Marijuana Edibles Good For Lower Back Pain
In a recent study out of Boulder, Colorado, researchers found that THC-rich cannabis edibles worked very well for patients who suffered from lower back pain.
Investigators from the University of Colorado at Boulder analyzed the impact of three edible products: high THC, high CBD, and edibles with similar amounts of CBD and THC. They were given to 249 study participants with lower back pain, who then consumed them for 2 weeks. The researchers assessed the subjective mood and pain intensity of patients at the end of the study.
“Pain intensity following edible cannabis decreased over time across all three broadly defined product groups,” they reported. However, the most significant improvements were observed among the patients who consumed the high THC edibles, while those who consumed high CBD edibles reported “short-term tension relief”.
“These findings support the short-term analgesic effects of THC and anxiolytic effects of CBD,” the authors concluded. They also added that the findings indicate that “…edible cannabis may be a safe and suitable alternative pain therapy for those looking to substitute more traditional pain medications,” they said.
What Other Studies Say
There is a growing number of medical literature supporting the efficacy and safety of medical cannabis for treating lower back pain.
A 2018 study from Israel focused on 31 fibromyalgia (FM) patients who had lower back pain. The researchers analyzed the analgesic properties of inhaled marijuana and compared it with opioids. The patients who were given inhaled marijuana with a low THC potency (under 5%) were treated for at least 6 months. Afterwards, these patients reported that they observed greater improvement in pain when they medicated with marijuana compared to just opioids.
They also reported an improvement in their range of motion after marijuana treatment though no similar improvements were observed with opioids.
“This observational cross-over study demonstrates an advantage of MCT (medical cannabis treatment) in FM patients with LBP (lower back pain) as compared with SAT (standard analgesic therapy). Further studies randomized clinical trials should assess whether these results can be generalized to the FM population at large,” the authors concluded.
Why Edibles Work Best For Pain
While there are many products and methods available to medicate with cannabis for pain, it’s no wonder a great deal of patients prefer to use edibles. Compared to vaping, smoking, and topicals, edibles are superior when it comes to long-lasting pain relief because the cannabinoids in marijuana edibles pass through the liver.
The result is a much slower release into the bloodstream, providing patients with 4 up to 8 hours of pain relief. Whereas, other methods may only provide one to three hours of relief.
Additionally, when THC is metabolized in the liver, it’s converted into 11 hydroxy THC. This metabolite is much more potent than THC and can provide more effective pain relief. There are other benefits to edibles, too, such as the fact that the onset is gradual and more uniform, plus it poses no irritation to the lungs. After edibles, sublingual tinctures and oils aren’t too far off; their effects can also last as long as 8 hours. Other alternative products include capsules and pills,
Conclusion
Marijuana products, particularly edibles or tinctures, have been proven to be effective in helping reduce the severity of pain while one is undergoing treatment for lower back pain. The analgesic properties of THC are well-studied, though CBD isn’t far off either; depending on the patient, THC or CBD, or a dose of both, can work well to reduce pain caused by a variety of factors.
After all, cannabis interacts with the endocannabinoid system to efficiently treat inflammation and pain while promoting homeostasis. While many pharmaceutical medications actually work well at numbing pain, they fail to address the root cause, which is inflammation. Thanks to the availability of THC and CBD products now, individuals can say goodbye to lower back pain.
Depending on the severity of the condition, and whether or not other illnesses are involved, one may be able to safely medicate with marijuana to help reduce lower back pain and improve your overall quality of life. Always reach out to a medical professional with experience in treating pain with cannabis if you have questions.
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Cannabis News
How Do Your Kids Learn about Weed? You!
Published
4 hours agoon
December 13, 2024By
admin
The conversation around cannabis has evolved significantly in recent years, especially with the increasing legalization and decriminalization of marijuana in various regions. This shift has not only changed the legal landscape but has also influenced cultural attitudes toward cannabis use among different demographics, particularly adolescents. Understanding how teens perceive cannabis is crucial, as these views can shape their behaviors and choices regarding substance use. A key factor influencing these perceptions is the attitudes and behaviors of parents regarding cannabis. This article explores the intricate relationship between teens’ views on cannabis and their perceptions of parental use, examining the implications for adolescent behavior, family dynamics, and public health.
The Changing Landscape of Cannabis Use
Legalization and Cultural Acceptance
The legalization of cannabis in several states and countries has led to a more open dialogue about its use. As of 2023, many jurisdictions have legalized marijuana for both medical and recreational purposes. This change has normalized cannabis in society, making it more accessible to young people. Consequently, adolescents are exposed to varying messages about cannabis, which can complicate their understanding of its risks and benefits.
Adolescents and Substance Use
Adolescence is a critical developmental stage characterized by exploration and experimentation. During this period, teens are particularly susceptible to peer influence, social norms, and familial attitudes. Research consistently shows that substance use during adolescence can lead to long-term consequences, including addiction, mental health issues, and impaired academic performance. Therefore, understanding the factors that influence adolescent views on cannabis is essential for prevention efforts.
The Role of Parental Influence
Parents play a pivotal role in shaping their children’s perceptions of substances like cannabis. Studies indicate that adolescents are more likely to use cannabis if they perceive their parents as accepting or using it themselves. Conversely, strong parental disapproval of drug use is associated with lower rates of adolescent substance use. This dynamic underscores the importance of parental attitudes in influencing teen behavior.
Effective communication between parents and teens about substance use is crucial. Open discussions can help demystify cannabis and provide adolescents with accurate information about its effects and risks. Parents who engage in honest conversations about their own experiences with drugs—whether positive or negative—can help their children navigate the complexities of substance use. However, if parents avoid these discussions or provide mixed messages (e.g., expressing disapproval while using cannabis themselves), it can lead to confusion and increased risk-taking behavior among teens.
Parental monitoring refers to the extent to which parents are aware of their children’s activities, friends, and behaviors. Research suggests that active parental monitoring is associated with lower rates of adolescent substance use. When parents are engaged in their children’s lives—knowing who they spend time with and what they do—they can effectively mitigate risky behaviors, including drug use.
Perceptions vs. Reality: The Gap in Understanding
Discrepancies Between Parent and Teen Perceptions
One significant issue in the parent-teen dynamic is the discrepancy between how parents perceive their own monitoring efforts versus how teens perceive those efforts. Parents often believe they are effectively supervising their children, while teens may feel a lack of oversight or support. This gap can lead to increased risk for substance use; if teens perceive that their parents are unaware or unconcerned about their activities, they may be more likely to experiment with drugs like cannabis.
The Impact of Social Norms
Social norms play a critical role in shaping both parental attitudes and teen perceptions. In communities where cannabis use is normalized or accepted, parents may be more likely to adopt permissive attitudes toward its use. This acceptance can trickle down to adolescents, who may view cannabis as a benign substance rather than a potential risk factor for negative outcomes.
The Psychological Perspective: Identity Formation and Peer Influence
Adolescence is a time when individuals begin to form their identities and assert independence from their parents. As teens explore different aspects of themselves—including their values around drug use—they may be influenced by both parental attitudes and peer behaviors. If a teen perceives that their parents are accepting of cannabis, they may feel more inclined to experiment with it as part of their identity formation.
Peer influence is another significant factor affecting adolescent behavior regarding cannabis use. Teens are often more susceptible to peer pressure than adults; thus, if they perceive that their friends or social circles accept or engage in cannabis use, they may be more likely to follow suit. This effect can be exacerbated if parental attitudes toward cannabis align with those of peers.
Case Studies: Real-World Examples
Case Study 1: The Open-Minded Parent
In a study conducted in California—a state known for its progressive stance on cannabis—researchers found that adolescents whose parents openly discussed cannabis use tended to have healthier attitudes toward it. These discussions often included information about responsible use, potential risks, and legal implications. As a result, these teens were less likely to engage in risky behaviors associated with drug experimentation.
Case Study 2: The Disapproving Parent
Conversely, in regions where parental disapproval was prevalent but not accompanied by open dialogue about drug use, researchers noted an increase in secretive behavior among adolescents. Teens felt compelled to hide their experimentation with drugs from disapproving parents, leading to a lack of communication about risks associated with cannabis use.
Implications for Prevention Strategies
Given the strong link between parental attitudes and adolescent behavior regarding cannabis use, family-based interventions can be an effective strategy for prevention. Programs that encourage open communication between parents and teens about substance use can help demystify cannabis and provide accurate information about its effects.
Public health campaigns aimed at educating parents about the importance of monitoring and discussing substance use with their children can also be beneficial. These campaigns can provide resources for parents on how to approach conversations about drugs like cannabis without judgment or stigma.
Engaging communities in conversations about drug use norms can help shift perceptions around cannabis. By fostering environments where open dialogue is encouraged—both within families and among peers—communities can create supportive networks that promote healthy choices among adolescents.
Conclusion
Understanding how teens view cannabis is essential for developing effective prevention strategies aimed at reducing adolescent substance use. Parental attitudes toward cannabis significantly influence these perceptions; thus, fostering open communication between parents and teens is crucial. By addressing discrepancies in perceptions between parents and adolescents, promoting education around responsible drug use, and engaging communities in supportive dialogues about substance use norms, we can create an environment that encourages healthy decision-making among young people.
As society continues to navigate the complexities surrounding cannabis legalization and cultural acceptance, it remains imperative that we prioritize family dynamics in discussions about drug use. By empowering parents with knowledge and encouraging open communication within families, we can help shape healthier attitudes toward substances like cannabis among future generations.
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