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

Welcome to theCannabis Countdown, the Legal Marijuana Industrys Number One Curated Weekly News Recap.

In This Weeks Edition, We Recap and Countdown the Top 10 Cannabis and Psychedelics Industry News Stories for the Week of January 18th 24th, 2021.

Without further ado,lets get started.

*Yahoo Finance readers, pleaseclick here to view the full article.

10. Trump Grants Clemency to Marijuana Prisoners on Last Day in Office

One of the People on Trumps List Was Craig Cesal, Who Was Granted Clemency for His Cannabis Conviction That Landed Him a Life Sentence

As one of his final acts in theWhite House,President Trumpannounced that he has granted clemency to dozens of people withMarijuanaand drug convictions.

READ FULL TRUMP CANNABIS ARTICLE

9. With Biden in White House, Cannabis Pros Expect Fresh Influx of Investment Dollars

Cannabis Pros Are Expecting the Industry to Look and Feel Quite Different on the Heels of President Joe Bidens Inauguration

On the heels of theBlue Wave, the markets are anticipating that theMarijuana Opportunity Reinvestment and Expungement (MORE) Actpassed by the House in December will be approved by the Senate. The MORE Act which aims to decriminalize cannabis at the national level for the first time, and removeCannabisfrom the list of federally controlled substances and erase certain federal convictions would have otherwise had a slim chance of passage.

READ FULL BIDEN CANNABIS ARTICLE

8. Psychedelic Therapy Schools Are Popping Up Like Mushrooms

For Hundreds or Thousands of Dollars, You Can Get Certified to Administer Mind-Alteringand Some Say, Mind-HealingDrugs

Even beforeOregonandWashington, D.C., decriminalized medicalPsilocybin, the active ingredient in Magic Mushrooms, in November, a market was emerging for schools that teach mental and medical health professionals how to usePsychedelicsin their treatment. There are dozens of these schools, including theCalifornia Institute of Integral Studies, which offers a certificate in psychedelic-assisted therapies and research.

READ FULL PSYCHEDELICS SCHOOLS ARTICLE

7. UFC Announces it Wont Punish Fighters for Marijuana Use

The UFC is Starting 2021 With a Major Policy Change

The UFC says it will no longer count positive tests for carboxy-THCthe psychoactive ingredient found inCannabisas a violation of its anti-doping policy unless a fighter uses it with the intention of enhancing performance, Greg Beacham of the Associated Press reported.

READ FULL UFC MARIJUANA ARTICLE

6. Somerville Moves to Decriminalize Psychedelics

The City Became the First Massachusetts Community to Take Such a Step, Passing a Resolution Against Enforcing Laws Around Entheogenic Plants

Somerville this month became the firstMassachusettscommunity to move toward decriminalizing entheogenic plants, more commonly known asPsychedelics. At its Jan. 14 meeting, the City Council voted unanimously in favor of a resolution placing a low priority on the enforcement of such substances.

READ FULL MASSACHUSETTS PSYCHEDELICS ARTICLE

5. Arizona Begins Recreational Marijuana Sales, Just Weeks After Voters Approve Legalization

Arizona Marijuana Sales for the Adult-Use Market Officially Began on Friday After State Officials Began Notifying Retail Business License Applicants That Theyd Been Approved

TheArizonalaunch comes just weeks after voters in the state overwhelmingly passed aCannabislegalization initiative during Novembers election. This marks the fastest transition from voter-approval to sales implementation of any state that has legalizedMarijuanato date.

READ FULL ARIZONA CANNABIS ARTICLE

4. Why Investors Are Bullish About Psychedelics

Like Cannabis, the Psychedelics Industry Has Been Growing at a Locomotive Pace

A key reason is an intriguing trend within the mental health community: the evolving acceptance ofPsychedelicdrugs for treating depression and other mental disorders. Noting this development, market researcher Data Bridge recently projected that thePsychedelicssector could bring in a whopping $6.85 billion by 2027.

READ FULL BULLISH ON PSYCHEDELICS ARTICLE

3. These Four States Could Legalize Medical Marijuana Through Legislation in 2021

Legalization Seems More Likely in the Southeastern States After Mississippi Voters Approved a Citizen-Driven Medical Marijuana Initiative on Nov. 3

Four red states Alabama,Kansas,KentuckyandSouth Carolina could legalizeMedical Marijuanathrough their legislatures this year, and, if successful, they could generate hundreds of millions of dollars in business opportunities across the supply chain over time.

READ FULL CANNABIS LEGALIZATION ARTICLE

2. Could Psilocybin End Our Addiction Crisis?

The 8-week Study Compared the Effects of Psilocybin With Diphenhydramine, the Active Ingredient in the Antihistamine Benadryl

The researchers chose diphenhydramine because it makes some people feel nauseated or woozy. Two doses ofPsilocybinover a period of eight weeks significantly reduced alcohol use and cravings for alcoholics According to early results of a New York University phase 2 study. If this keeps going the way it looks like its going, I think it will lead to a large phase 3 trial that could be part of getting psilocybin rescheduled, said NYU psychiatrist and lead investigator Kelley ODonnell, MD, Ph.D.

READ FULL PSILOCYBIN STUDY ARTICLE

1. Cannabis Sales Records Smashed or Set in 2020, and Insiders Expect the Gains to Continue

The COVID-19 Outbreak Has Proved Devastating for Many Mainstream Industries, But for Those in the Cannabis Business, 2020 Turned Out to Be a Record-Setter

Sales of medical and recreationalMarijuanaproducts smashed former records set in mature markets such asColoradoandOregon. In emerging markets, includingIllinoisandOhio, sales set new, high bars for performance. Looking ahead,Cannabisindustry insiders dont expect 2021 to be much different.

READ FULL CANNABIS SALES ARTICLE

Photo by Jose Luis Sanchez Pereyra on Unsplash

2020 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.

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