The Dime: 7/17/2020

Written by Sonia Case

Following important cannabis news articles every day can be a real burn-out, we know. That’s why the Emerald rolls up a chronicle of the headiest news hits, and passes them to you at the end of each week. We Bring You: The Digital Dime.

Final Goodbye Trip

TheraPsil is a Canadian nonprofit with a mission to expand access to psilocybin-based psychotherapy. Since 2017, the group has been trying to get government approval to explore the benefits of psilocybin therapy on terminally ill patients. 

Even though TheraPsil’s petition has already been denied once by the Canadia minister of health, the group will not easily give up the good fight. TheraPsil is now also requesting that therapists be able to dose themselves too. 

In an interview with Marijuana Moment, ThersPsil’s executive director, Spence Hawkwell, outlined the importance of having therapists be familiar with the psychedelic experience. After all, he said, no one would “advise going to a sex therapist who’s never had sex before.”

Terminally ill patients often suffer from anxiety and depression as they approach death. Psychedelics can help ease these negative feelings and therefore improve end-of-life care.

Have Your Cake and Eat it Too

Last Friday, July 10th, the Hawaii state legislature officially passed House Bill 2097. Once Gov. David Ige signs the bill into law, edibles will finally be an option for the state’s 30,798 registered medical cannabis patients. 

Edibles were not approved for sale in Hawaiian dispensaries when medical cannabis was first legalized.  According to High Times, “legislators were concerned that they would appeal too much to children and encourage early-age consumption.” 

Hemp Hemp Hurray! 

On Tuesday, July 14th, the U.S. Department of Agriculture (USDA) announced the approval of Minnesota, Tennessee and Puerto Rico’s new hemp regulatory plans. There are now 53 total approved plans across U.S. states, territories and Indian tribes. On the matter, the Minnesota Agriculture Commissioner, Thom Peterson, stated that while it is a big step in the right directions, they “look forward to continuing [their] dialogue with USDA so [they] can ensure Minnesota’s hemp growers and processors are successful in this fledgling industry.” 

Sky High 

A new chart shared by MJBizDaily this week highlights the brute economic force of the still-maturing cannabis industry. In 2019 alone, the cannabis industry brought in between $10.6 billion and $13 billion in adult-use and medical cannabis sales.

The combined 2019 revenue of $5.08 billion for sleep aids, hard seltzer and toothpaste products didn’t even come close to matching the low end for estimated cannabis revenue. The NBA’s 2019 revenue of $8.8 billion was also crushed by the cannabis industry. 

MJBizDaily estimates that by 2024, the cannabis industry could bring in up to $37 billion and ultimately beating the craft beer market in the U.S. Now that’s a tough Shock to Top! 

Emerald contributor since May 2020


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