Cannabist Economist 6/27/18

//Cannabist Economist 6/27/18

Cannabist Economist 6/27/18

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Gov. Fallin Statement on Voters Passing Medical Marijuana Ballot Issue

The overwhelming medical cannabis win in Oklahoma, with very little funding on a primary midterm ballot, shows that the vast majority of voters will support medical cannabis regardless of party. At this point, it seems like a medical marijuana ballot initiative could win in any state on during any future election. But the future options for legislative change through direct democracy are limited. When it comes to comprehensive medical marijuana, we already have 30 states and not many of the 20 remaining states have the option for voter-initiated ballot measures.

It is also vital that activists and entrepreneurs study the laws around legislative changes to voter-initiated ballot measures in each state. In states like Arizona and California, legislators are significantly limited in how they can amend the will of the voters. But in Oklahoma, it just takes a simple majority of the state legislature. The real fight over medical cannabis in Oklahoma starts now. The ballot initiative language is open and inclusive but the political powers that want to restrict are severe. It will take massive grassroots support to keep patient access open and provide opportunities for more than just a handful of very wealthy business people.


Voters In Two States Nominate Marijuana Legalization Supporters for Governor

Not only was the nomination of Representative Jared Polis for Colorado Democratic gubernatorial candidate a major win for the state’s cannabis industry, the win by Ben Jealous for the same position in Maryland just bumped up the potential for legalization in the state by a few years. We have seen with New Jersey how legislative dynamics can change when a vocally pro-legalization governor takes the lead of a state. Hopefully Jealous is successful in November and then successful in 2019 or 2020 with eliminating criminal penalties for cannabis regardless of medical condition!


Statement by FDA Commissioner Scott Gottlieb, M.D., on the approval of a purified CBD medicine
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This somewhat long statement from the FDA commissioner is an important read for anyone in the hemp and CBD business. Not only does it outline the FDA’s beliefs regarding cannabis medicines and the proper pathways for drug approval but it also provides some insights into areas where they may step up enforcement on federally unapproved CBD products. Specifically they will continue to enforce against those who make unproven and illegal health and benefit marketing claims as they have done in the past. So if you sell “full spectrum hemp oil” products make sure to have an attorney review your labels to provide insights and avoid statements that may put you at risk. Vicente Sederbeg LLC is happy to help.
But what I find most interesting in the paragraph below from the statement is that the FDA is seriously concerned with how medical marijuana, and specifically the culture and press coverage around CBD for specific chronic diseases, has undermined their control of medicine and the pharmaceutical industry. They do not want people substituting CBD oils for their approved drugs and are concerned that doing so would negatively harm the health of patients. The fight over CBD is part of an ongoing and larger battle between “holistic” and “botanical remedies” and those produced or purified in a laboratory and approved by he FDA.

“We’ll continue to take action when we see the illegal marketing of CBD-containing products with unproven medical claims. We’re especially concerned when these products are marketed for serious or life-threatening diseases, where the illegal promotion of an unproven compound could discourage a patient from seeking other therapies that have proven benefits.


Cananbis economist, andrew livingston, vicente sederberg

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By | 2018-06-27T14:26:22+00:00 June 27th, 2018|Business|0 Comments