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The Week in Review – Cannabis reform, Banking, MedMen, Walmart & Traffic fatalities

weekly review
Written by Alexandra Hicks
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It’s been yet another busy and productive week in the world of cannabis.

With everything from new clinical trials, to political agendas, and banking issues, it can be hard to keep up sometimes. Things are changing every single day in the cannabis industry. So let’s take a few minutes to review some of the most groundbreaking stories from last week.

Congressional democrats focus heavily on cannabis reform

democrats cannaibs

For the first time ever, congressional democrats included a panel at their most recent policy retreat that was focused entirely on the importance of federal cannabis reform. It was titled “From the War on Drugs to Restorative Justice: Ensuring Racial and Social Equity in the Cannabis Movement,” and the topics centered on how to implement new regulations as well as how repair the past damage caused by cannabis prohibition and the “war on drugs”. Much of the conversation focused on racial injustice and how to remedy this serious problem. Click here to read the full article.

US cannabis firms take it to the bank?

cannabis banks

In some ways, the U.S cannabis industry is akin to the ‘Wild West’ with businesses having to recruit armed guards to transport cash. This is due to Federal regulations which prohibit banks from working with legal cannabis business. However, law makers are now under pressure remove these sanctions, which are seen as an ‘open invitation to organized crime’. According to Oregon Democratic Senator Jeff Merkley, “Forcing legal businesses to operate in all-cash is dangerous for our communities. It’s absurd that cannabis business owners in Oregon have to shuttle around gym bags full of cash to take care of their taxes or pay their employees.” Click here to read the full article.

Anandamide – the bliss molecule of the endocannabinoid system

anandamide

One the endogenous cannabinoids – or cannabinoids produced by our own bodies – is known as anandamide. It was discovered by Israeli scientist Raphael Mechoulam. Our bodies break down anandamide very quickly and continuously cycle through it. However, it’s created on-demand to maintain regular homeostasis. As it’s created, it binds to our CB1 and CB2 receptors – just like THC, CBD, and other phytocannabinoids. Anandamide impacts a multitude of bodily functions including appetite, pain management, neurogenesis, mood fluctuation, memory, learning, and fertility. Click here to read the full article.

Why did top executives at MedMen quit?

medmen

A total of three higher-level executives at SoCal based MedMen have quit amid allegations of financial duress, racism, homophobia, and misogyny. The claims were made by former Chief Financial officer James Parker, who filed a wrongful dismissal lawsuit against the company last year. According to MedMen, the employment changes are an attempt to become more efficient under new CEO Adam Beirman. MedMen has also claimed that the lawsuit against them is unsubstantiated and they denied all allegations. We have reached out for further comments and are awaiting their reply. Click here to read the full article.

Legal cannabis does not increase traffic fatalities

cannabis traffic fatalities

According to a new study conducted by Kansas State University Student Andrew Young, cannabis legalization – whether for medical or recreational purposes – is NOT associated with an increase in traffic fatalities. Young analyzed traffic data over a 23-year period using two different models and he concluded that, “Legalizing marijuana is not found to be a statistically significant predictor of fatality rates. This finding means that the legalization of marijuana for both medical and recreational purposes is not associated with either a reduction or increase in fatalities per 100,000 vehicle miles traveled.” Click here to read the full article.

Walmart just announced partnership with New Age Beverages

walmart new age beverages

CBD beverages are all the rage lately. According to a new report from international food and beverage consulting firm, Zenith Global, worldwide sales of CBD and hemp-infused drinks are expected to surpass $1.4 billion dollars within the next five years. That said, it should come as no surprise that retail behemoth Walmart is taking a serious look at this sector and even secured a deal with New Age Beverages, the makers of Marley brand drinks. Click here to read the full article.

UCSD set to research cannabis for multiple conditions

ucsd cannabis research

Researchers from the Medical Cannabis Research Center at University of California, San Diego (UCSD) are looking for more than 130 people to participate in multiple clinical trials for cannabis treatments. There will be a total of four upcoming trials examining the following conditions: severe autism in children, schizophrenia, anorexia nervosa, and essential tumor. Anyone who’s been diagnosed with the above conditions who might be interested in participating this these studies can get more information or apply through the UCSD Center for Medicinal Cannabis Research website. Click here to read the full article.

We hope you enjoyed this week’s review. Don’t forget to subscribe to our Weekly Newsletter, the top source for all things cannabis-related.

About the author

Alexandra Hicks

Alexandra is the managing editor at CBD Testers. She has always been interested in alternative and natural remedies, and the versatility of cannabis as a healing plant is something that greatly appeals to her. It's for this reason that she decided to work as a cannabis industry journalist and editor, to help spread accurate information about the benefits of this plant.

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