Marijuana Will Gain Millions Of Consumers Over Alcohol, With Sales Hitting $37 Billion By 2027, Investment Bank Projects

A multinational investment bank says that marijuana has become a “formidable competitor” to alcohol, projecting that nearly 20 million more people will regularly consume cannabis over the next five years as booze loses a couple million drinkers. It also says marijuana sales are estimated to reach $37 billion in 2027 as more state markets come online.

An analysis from the firm TD Cowen says marijuana sales reached $29 billion in 2023, which is approximately 11 percent of what the alcohol industry brought it. That’s up from four percent just five years ago, and marijuana is expected to grow by another seven percent annually over the next five years.

“As such, we believe that over the next 5 years, the cannabis category will add 18 million past-month consumers, while alcohol will lose 2 million past-month consumers, as consumers increasingly embrace cannabis and temper their alcohol consumption,” the report, titled “Cannabis Beats Booze,” says.

Vivien Azer, team lead on the analysis, told Marijuana Moment that the report bolsters a growing body of market research.

“We’ve been calling for seven years now for cannabis to increasingly prove as a dislocator to alcohol sales—and, really, it’s just a matter of time,” she said. However, she said it was “a little surprising” to see data projecting an even greater underperformance for alcohol sales in legal marijuana states.

While marijuana sales are still just a fraction of the dominant alcohol market, analysts say that there’s reason to believe that booze could be “at risk” of declining because of increased substitution among consumers, particularly young people. The TD Cowen report cited a proprietary survey that found more than two-thirds of cannabis users report reducing alcohol consumption.

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RFK, Ramaswamy And Williamson Push Psychedelics Reform On Presidential Campaign Trail

Democratic, Republican and independent 2024 presidential candidates might disagree on many major political issues, but three hopefuls have each recently used their platform on the campaign trail to promote their visions for psychedelics reform.

Marianne Williamson, who is running for the Democratic nomination against incumbent President Joe Biden, has released a comprehensive drug policy platform that broadly condemns prohibition, pledging to legalize “less harmful drugs” including marijuana and psilocybin while providing free access to psychedelic-assisted psychotherapy to treat drug addiction.

Republican candidate Vivek Ramaswamy reaffirmed his more modest position last week, calling for the decriminalization of ayahuasca and ketamine for military veterans suffering from post-traumatic stress disorder (PTSD) to mitigate the suicide crisis.

Meanwhile, Robert F. Kennedy Jr., who left the Democratic primary to run as an independent candidate, is sharing why he’s embraced allowing access to psychedelics for mental health treatment, describing how his son’s experience with ayahuasca helped him process the death of his mother.

It’s a uniquely 2024 commonality among the otherwise divided candidates, underscoring the increased bipartisan interest in exploring the therapeutic potential of psychedelics.

Each candidate had previously expressed support for psychedelics reform, but recent statements and campaign materials add context to how they view the issue and how they envision implementing change if they beat the political odds to get elected to the White House.

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Could magic mushrooms replace oxycodone?  Ingredient found in psychedelic helps treat chronic pain by reshaping the brain, study suggests

An injection of psilocybin, the key ingredient in so-called ‘magic mushrooms,’ could offer lasting relief from chronic pain, according to new research.

A team of scientists at the University of Michigan found that rats given the psychedelic drug were significantly less sensitive to pain for weeks compared to animals who did not receive it. 

These results suggest that the drug is altering pathways in the brain, the study authors wrote.

Scientists suspect many chronic pain conditions are the result of changes to the brain and spinal cord, not just the body part that’s in pain. 

Psilocybin may modify these pathways rather than just treating the symptoms of pain.

In the new study, rats were given a small injection of formaldehyde in their foot to simulate chronic pain. 

Injections like this can lead to a month or more of hypersensitivity, even in the feet that haven’t been injected.

So, while this pain isn’t the same as a person with a back injury or other chronic pain experiences, it is one way for scientists to study long-lasting pain.

The lab animals were then given either a low-dose injection of psilocybin, a high-dose injection, or an injection of harmless salt water – a placebo to ensure the drug was responsible for the observed effects. 

The low-dose group received 1mg per kilogram of body weight, the equivalent of a microdose, while the high-dose group received 10mg per kilogram, a hallucinogenic dose. 

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People With Past Convictions Shouldn’t Be Blocked From Marijuana Industry Work, Massachusetts Regulators Say

This fall, the Cannabis Control Commission’s regulations to implement Massachusetts’s equity reform law became official, representing the most wide-ranging changes to the Commonwealth’s regulated marijuana marketplace in six years and a historic accomplishment for advocates, operators, regulators and the legislature. As a result, our agency is now entrusted with oversight of local contracts between host communities and licensees, as well as efforts at the municipal level to increase inclusivity in the industry. However, a single legislative update may provide the greatest opportunity for individuals directly impacted by the war on drugs.

The marijuana employment amendment—passed unanimously by the state Senate before being adopted in the House and then signed into law by Gov. Charlie Baker (R) in August 2022—now bans all prior criminal convictions, including marijuana offense-related dispositions, from automatically disqualifying individuals from working for most cannabis licensees unless the offense involved distribution of a controlled substance to a minor. In doing so, the Commonwealth has cleared the way for gainful employment in the legal industry by the communities most impacted by drug policies that disproportionately incarcerated people of color, and eliminated a blanket regulatory ban that previously prevented employers from even considering their hire.

Legalization brought a sense of hope, belonging and inspiration for those most impacted by marijuana prohibition; many believed it would address historical injustices, make products safer and bring economic gains to those harmed by previous policies. Fortunately, much of that vision has come to fruition.

Today, Massachusetts’s adult-use cannabis industry has generated more than $5 billion in sales, or roughly $1 billion in tax revenue, and millions more in non-tax revenue through licensing and application fees. More than 570 licensed marijuana establishments have commenced operations, 102 medical marijuana treatment centers are open and nearly 100,000 residents are now registered medical patients. Hundreds of entrepreneurs, and more than 20,0000 employees, benefit from growing, manufacturing and selling the biggest cash crop in our state.

However, over that time, only 67 participants in the commission’s programming to include communities harmed by the war on drugs have opened businesses (158 more are in the licensing pipeline), while less than 15 percent of the current workforce identifies as Black or Latino.

Despite our best efforts, equity is coming slowly. The high cost of compliance, combined with limited access to capital, have kept barriers to entry high. The state’s new cannabis equity law has mandated solutions to many of these problems, including the creation of the Cannabis Social Equity Trust Fund administered by the Executive Office of Economic Development.

But to truly eliminate all collateral consequences of the drug war, it was also important to remove unnecessary blanket prohibitions that prevented people with criminal records from obtaining jobs like the ones they did before legalization. Employment has proven to be one of the most effective tools for reintegration and reducing recidivism.

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Carnival Cruise Lines Denies That Anti-Marijuana Enforcement Measures Are Meant To Boost Alcohol Sales On Ships

Passenger cruise lines like Carnival and Royal Caribbean have policies against marijuana, noting that the substance is illegal in many ports it sails to and that they’re following federal law. But as more people return to the ships, and as more of them come from states where the drug is legal, operators are reportedly taking more extreme measures to detect cannabis and cracking down on people who attempt to use it—including those who simply pack CBD products, which are legal across the U.S.

As the Wall Street Journal reported in a story on the trend this week, Carnival Cruise Lines not only sends pre-cruise messages reminding passengers not to bring marijuana, but also now employs drug-sniffing dogs.

Companies say they’re focused on legal compliance and providing a comfortable experience for non-users, but the article notes that cruise operators may have an ulterior motive to discourage marijuana use.

“Besides limiting potential legal liability, cruise lines could benefit financially by prohibiting cannabis on board,” the paper reported. “Alcohol is a major revenue-generator for ships, and cruises also limit how much booze passengers bring on board.”

It talked to a Florida-based personal-injury attorney who said he’s “convinced that the decision to take such a hard line on marijuana or CBD is because they’re trying to drive alcohol sales.”

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DEA Renews Push To Ban Two Psychedelics After Abandoning Effort Last Year, Prompting Researchers To Fight Back Again

The Drug Enforcement Administration (DEA) is taking another shot at banning two psychedelics after abandoning its original scheduling proposal last year, teeing up another fight with researchers and advocates who say the compounds hold therapeutic potential.

In a notice published in the Federal Register on Wednesday, DEA again proposed placing 2,5-dimethoxy-4-iodoamphetamine (DOI) and 2,5-dimethoxy-4-chloroamphetamine (DOC) in Schedule I of the Controlled Substances Act (CSA).

The agency said that its scientific and medical basis for proposing the ban “remains the same” as it was last year, so it’s making an identical argument that the phenethylamine hallucinogens hold high abuse potential with no known medical value. What’s changed in the new notice appears to be related to the administrative process of requesting a hearing challenging the facts or laws governing the scheduling action.

When it withdrew its earlier notice, DEA mentioned that it would be “publishing a new proposed rule using an amended procedure.”

DEA doesn’t explain why the amended procedure was necessary, but it is the case that scientists rallied last year to request a hearing on its DOI and DOC scheduling proposal. The psychedelic research company Panacea Plant Sciences had also filed a motion contesting the policy change, which could’ve resulted in an administrative judge scheduling a hearing.

Unlike the previous notice, this latest filing says that the “decision whether a hearing will be needed to address such matters of fact and law in the rulemaking will be made by the Administrator.” There are suspicions that DEA is effectively complicating the process for outside parties to challenge the proposal.

In any case, Panacea Plant Sciences is again sounding the alarm. Founder and CEO David Heldreth told Marijuana Moment on Friday that the “response to our rallying cry to fight the DEA’s illogical rule making has been amazing.”

“The psychedelic community from lawyers and researchers to community activists and even individual people have really come together in opposition to the DEA prohibition mindset,” he said. “Panacea have had contact with at least 10 groups that want to be involved or support the legal fight against the DEA attempt to criminalize DOI and DOC. These compounds are intrinsically important to researchers and the scientific study of the mind and body.”

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29 Former Federal Prosecutors Urge Biden Administration To Leave Marijuana In Schedule I

In a letter sent to the heads of the Department of Justice (DOJ) and Drug Enforcement Administration (DEA) this week, 29 former U.S. attorneys are urging the Biden administration to leave cannabis in Schedule I of the Controlled Substances Act (CSA), arguing that “marijuana has only become more dangerous, potent, and addictive” since the government last reviewed its scheduling in 2016.

The correspondence comes as DEA continues its review of marijuana’s scheduling after the U.S. Department of Health and Human Services (HHS) recommended in August that the substance be moved, reportedly to Schedule III.

“Almost no one has benefitted from legal weed,” the former federal prosecutors claim in the new letter, “but there is one group coming out on top: drug cartels. Many states have enacted home-grow marijuana laws, which led to cartels growing marijuana in the United States to cut trafficking costs.”

The letter, to Attorney General Merrick Garland and DEA Administrator Anne Milgram, does not cite a source for that claim. Most states limit legal home cultivation for cannabis to less than a dozen plants and outlaw unlicensed commercial sales.

One of the main reasons for marijuana’s current Schedule I status is the government’s assertion that the plant has no recognized medical use—an issue reform advocates have challenged as more than three-quarters of all U.S. states have adopted medical cannabis laws.

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New York Bill Would Create Psilocybin Therapy Pilot Program For 10,000 Military Veterans And First Responders

A New York lawmaker has introduced a bill that would create a pilot program to provide psilocybin therapy to 10,000 people, focusing on military veterans and first responders, while the legislature also considers broader psychedelics reform.

Assemblymember Pat Burke (D), who has championed various psychedelics measures over recent sessions, filed the therapeutic psilocybin pilot program legislation on Wednesday.

It would create the program under the state Department of Health, which would be required to provide funding to cover the therapy and develop training guidelines for professional facilitators. It would need to issue a report on findings and policy recommendations to the governor and legislature every two years after enactment.

A total of 10,000 patients could participate, including veterans and their families, first responders and people who suffer from cluster headaches. They would need to reside in the western region of New York.

The pilot program would end if psilocybin is approved for medical use by the federal Food and Drug Administration (FDA).

“Psilocybin therapy offers serious potential benefits to assist with mental health, but it suffers from a lack of substantial medical testing,” a memo attached to the measure says. “This bill would alleviate that problem by establishing a pilot program to test psilocybin therapy’s effectiveness on mental health.”

“This pilot program would help record the effects of this treatment on their conditions in order to better understand the effects of this new therapy which promises substantial benefits,” it says.

Under the legislation, the health department would be able to enter into agreements with experts, non-profit organizations, universities or other institutions “for the performance of an evaluation of the implementation and effectiveness” of the program.

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Nineteen Years Ago, Journalist Gary Webb Was Murdered After Exposing CIA Drug Trafficking

On December 10, 2004, the body of journalist Gary Webb, 49, was discovered in his home near Sacramento after a moving company worker found a note posted to his front door that read: “Please do not enter. Call 911 and ask for an ambulance.”

Webb’s death was listed as a suicide, but Webb was found with two bullet holes in the head, indicating that he was executed.[1]

In the days leading up to his death, Webb had told friends that he was receiving death threats, being regularly followed by what he thought were government agents, and that he was concerned about strange individuals who were seen breaking into and leaving his house.

In the late 1990s, Webb had written a series of stories for the San José Mercury News, which provided the basis for his book, Dark Alliance: The CIA, the Contras, and the Crack Cocaine Explosion (New York: Seven Stories Press, 1998).

In it, Webb detailed how the explosion of crack cocaine in South Central Los Angeles during the 1980s was sparked by two Nicaraguan émigrés, Danilo Blandón and Norwin Meneses, who sold huge amounts of cocaine to raise funds for a CIA-backed rebel army—the Contras.

Webb was a Pulitzer Prize winner whose “Dark Alliance” series went viral in the early days of the internet. It caused a firestorm that led to the resignation of CIA Director John Deutch after he was grilled by angry Black activists at a meeting in L.A.[2]

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GOP Kansas Senate President Is ‘Open’ To Limited Medical Marijuana For Seriously Ill While Dismissing Public Support For Legalization

The GOP Kansas Senate leader says he’s “open” to medical marijuana—but only in restricted form for seriously ill or terminal patients. And he might want to do a pilot program first before potentially expanding the limited reform.

During an interview with KCUR that aired on Thursday, Senate President Ty Masterson (R) was asked about his willingness to enact cannabis legalization given how recent polling shows overwhelming public support for the policy change.

He first suggested that most Kansans only support medical cannabis for “palliative care,” and claimed that “recreational was not addressed as a majority” in the recent survey. The host pressed him, pointing out that the recent Kansas Speaks fall poll found 67 percent support for taxing and regulating adult-use marijuana.

“If you look at that question, I think most people would answer yes, but they don’t know what they’re actually saying yes to,” Masterson, whose chamber declined to act on a House-passed medical marijuana legalization bill in 2021, argued. He cited concerns with the implementation of adult-use legalization in neighboring Oklahoma.

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