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Cannabis Countdown: Top 10 Marijuana And Psychedelics Industry News Stories Of The Week

September 14, 2020 9:29 am
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Welcome to the Cannabis Countdown. In This Week’s Edition, We Recap and Countdown the Top 10 Marijuana and Psychedelics Industry News Stories for the Week of September 7th – 13th, 2020.

Without further ado, let’s get started.

Yahoo Finance readers, please click here to view full article.

10. This UK-Based Psychedelics Company is Ready to Go Public on the NASDAQ

In Yet Another Sign That Psychedelics Are Making Their Way Into the Mainstream, Compass Pathways Has Filed for its Initial Public Offering (IPO) on the NASDAQ Stock Exchange

The London-based Compass Pathways, which will trade under the ticker symbol ‘CMPS,’ is backed by some serious heavyweights, including lead investor Christian Angermayer and well-known Silicon Valley tech billionaire Peter Thiel.

READ FULL COMPASS PATHWAYS ARTICLE

9. Here’s How Psychedelics Helped Fuel Mike Tyson’s Return to the Ring

A Few Months Ago, Mike Tyson Made Headlines After Announcing Plans to Expand His Cannabis-Themed Tyson Ranch

Mike Tyson, the former heavyweight champ is back in the news following recent comments made about Psychedelics on the Joe Rogan Podcast as well as for his highly-anticipated return to the ring against Roy Jones Jr. this November.

READ FULL MIKE TYSON ARTICLE

8. IRS Releases Tax Guidance for Marijuana Industry

Because Marijuana Remains Federally Illegal, the Industry is Largely Deprived of Tax Benefits Extended to Operators in Other Markets—But Still Has an Obligation to Pay Taxes and Properly Report Transactions

The Internal Revenue Service (IRS) on Thursday released updated guidance on tax policy for the Marijuana industry, including instructions on how Cannabis businesses that don’t have access to bank accounts can pay their tax bills using large amounts of cash.

READ FULL CANNABIS IRS ARTICLE

7. Lawmakers Stepping Up Efforts Toward Psilocybin Legalization

The Beaver State’s Voters Will Decide if Psilocybin Can Be Sold, and Who Can Use it for Their Medical Wellness Issues

Efforts to legalize Psilocybin (Magic Mushrooms) just took a huge step forward because of an initiative on the ballot for Oregon voters to consider this November—Oregon Measure 109, the Psilocybin Program Initiative also known as “Yes on 109.”

READ FULL PSILOCYBIN LEGALIZATION ARTICLE

6. New Mexico Governor Calls for Marijuana Legalization to Fund Medicaid Amid Coronavirus Budget Crunch

Gov. Michelle Lujan Grisham (D) Said at a Press Briefing That the State Needs to “Look for Innovative Ways to Increase Economic Activity”

The governor of New Mexico again agued that that marijuana legalization represents an economic opportunity for the state, especially amid budget shortfalls caused by the coronavirus pandemic.

READ FULL MARIJUANA LEGALIZATION ARTICLE

5. Biden Pledges to Force People Who Use Drugs to Enroll in Mandatory Treatment Programs

In a Recent Speech, Democratic Presidential Nominee Joe Biden Reaffirmed His Position that People Convicted of Low-Level Drug Offenses Should Be Forced into Rehabilitation to Stay out of Jail and Get Their Records Cleared

While Joe Biden seems to view the policy as a progressive alternative to incarceration, many drug reform advocates feel mandatory treatment reinforces misconceptions about substance misuse, and they point out that the efficacy of forced rehabilitation programs is scientifically questionable.

READ FULL JOE BIDEN ARTICLE

4. Twitter Partners with Feds on Campaign Flagging ‘Marijuana’ Searches While Giving ‘Alcohol’ A Pass

Twitter is Partnering with a Federal Drug Agency to Promote Substance Misuse Treatment Resources When Users of the Social Media Platform Search for “Marijuana” or Certain Other Substance-Related Keywords

In collaboration with the Substance Abuse and Mental Health Services Administration (SAMHSA), Twitter this week began adding a notification above relevant tweets on select drug terms that says, “If you or someone you know is struggling with substance use, you are not alone.” It directs users to SAMHSA’s helpline and website.

READ FULL TWITTER ARTICLE

3. Showing No Signs of Slowing Down, U.S. Retail Cannabis Sales on Pace to Rise 40% in 2020

The North American Cannabis Market, Which Has Been Steadily Growing Over the Past Few Years, is Projected to Continue and Even Accelerate in the Years to Come

Retail sales of medical and recreational Cannabis in the United States are on pace to eclipse $15 billion by the end of 2020, an increase of approximately 40% over 2019 sales figures, according to exclusive projections from the 2020 edition of the Marijuana Business Facebook as quoted in the Marijuana Business Daily

READ FULL U.S. CANNABIS INDUSTRY ARTICLE

2. Psychedelic ‘Trips’ Really Are Similar to Religious Experiences in Many Ways

Psychedelic Substances Are Also Showing Promising Early Results for Treating Mental Disorders, in Controlled Doses

A growing body of drug research has shown that experiences with Psychedelic drugs can be both positive and negative – scary and uncomfortable for some, but leading to improvements in well-being and relationships for others.

READ FULL PSYCHEDELIC TRIPS ARTICLE

1. Florida Medical Cannabis Edibles Sales Could Reach $250 Million in First Full Year

Edibles are Hitting the Medical Cannabis Dispensary Shelves in Florida, Launching a New Market Segment that Could Generate up to $250 Million in Sales in the First Full Year

Tallahassee Florida-based Trulieve (OTCQX:TCNNF), the state’s dominant medical cannabis operator, was first out of the gate, selling edibles in its hometown dispensary on Sept. 2.

READ FULL FLORIDA EDIBLES ARTICLE

Photo by ryan lange on Unsplash


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