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Cannabis Business Minds


Thank you for listening to Cannabis Business Minds. This show is produced to provide our listeners with valuable information on the cannabis industry. 

Apr 22, 2018

Despite being legal in more than half the states of the US, cannabis, and hemp are still federally illegal and considered to have no medical benefit by the US government and listed as a Schedule 1 substance under the Controlled Substance Act. As it stands, farmers face several barriers to grow cannabis and hemp due to federal prohibition — including restricted access to banking, water rights, and crop insurance.  

On this episode of cannabis business minds, we'll discuss:

  • The history of cannabis prohibition in the United States
  • The scheduling of cannabis and the Controlled Substance Act
  • Major updates to cannabis and hemp legalization in the US in April 2018
  • A major deadline by the FDA (April 23, 2018). FDA link:  https://www.regulations.gov/comment?D=FDA-2018-N-1072-0001 

 

1619-1996 Cannabis History

This history of hemp and cannabis is incredible and dates back to 1619 with our founding fathers. 

In 1850, cannabis was added to US Pharmacopeia as a treatment for numerous afflictions, including tetanus, alcoholism, opiate addiction, anthrax, gout, convulsive disorders, excessive menstrual bleeding, among others.  

In 1933 alcohol prohibition ends, and "cannabis concerns" arise at the US Federal level. In 1934, The Garrison Act passed, which outlawed cannabis among other drugs. In 1936, medical Marijuana is replaced by other pain relievers and is removed on the US Pharmacopeia in 1937.

From the 1950s-1980s, cannabis is listed as a controlled substance and the US implements very strict mandatory minimum sentences for cannabis possession. 

In 1996, California was the first state to legalize medical marijuana under prop 215. In 2014, Colorado was the first state to legalize adult use of cannabis. To date, more than 30 states have legalized cannabis. 

 

April 2018 Cannabis Updates that make me think federal legalization is on the horizon (3-5 years)  

Last week was a historic week for the Cannabis, Hemp and CBD Industries.  

On April 11, Former House speaker John BANER, a longtime opponent of cannabis legalization, announced that he will serve on the board of advisers for a cannabis company- Acreage Holdings - that has licensed cannabis facilities in the United States.

On April 13, Mitch McConnell introduces Hemp Bill in the Senate.  The bill would not legalize marijuana for recreational or medical uses but would allow non-psychoactive forms of cannabis.

Last week, Sen. Cory Gardner, from Colorado, announced that President Donald Trump had committed to him that the Department of Justice's rescission of the Cole Memo, which protected states with legal marijuana from federal intrusion in their legal industries, would not impact Colorado's legal marijuana industry. "Furthermore," Gardner wrote in a press release, "President Trump has assured me that he will support a federalism-based legislative solution to fix this states' rights issue once and for all.

Then add on top of this, the FDA is sending out a request for comment that is due on April 23 on the potential de-scheduling of cannabis.

In December 2017 the UN’s World Health Organization said that CBD should not be scheduled as a controlled substance, an initial finding that comes about a month after the agency reviewed cannabidiol therapies.  

We will hear the World Health Organization’s stance on cannabis and cannabis resin, extracts, and tinctures of cannabis in June when they issue their decision.  

If the feds are thinking about decriminalization of cannabis in the US, this process would not happen overnight. That being said, it is critical that we vocalize the benefits of cannabis as well as the lack of abuse.

Send me an email at simone@kalogia.com to help us with federal legalization

 

 

Some good reads:

Links to read: https://www.vox.com/policy-and-politics/2018/4/13/17233582/hemp-farming-act-marijuana-legalization-mcconnell

 

Former Speaker John Boehner joins the fight: https://www.washingtonpost.com/news/wonk/wp/2018/04/11/john-boehner-was-a-longtime-opponent-of-marijuana-reform-heres-what-changed-his-mind/?utm_term=.d05334b447ae


Senator Gardner cuts deal with Trump: https://www.csindy.com/coloradosprings/gardner-says-trump-supports-states-rights-with-legal-marijuana-mcconnell-introduces-hemp-farming-act/Content?oid=11723810