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Bunch of weed at 20% THC: US research highlights THC levels ‘bunching’ just over 20%
For better or worse, high levels of THC have become a proxy for quality in many cannabis consumer’s minds. For cannabis to fetch a “premium,” or in some markets even “medium,” price it must usually be 20% or more. So, to a grower, a THC test that shows under 20% can significantly threaten margins by forcing them to discount inventory. Economists would call the 20% THC line in the sand a “sharp nonlinearity in the payoff function for competitors” which is sometimes a “key feature” in things that are “ripe for corruption.” Not unlike when researchers looking at conscription records from France in the 1800s found a “puzzling” amount of French men measuring under 1.57 meters tall when the minimum conscription height happened to be 1.57 meters. It shouldn’t be a surprise then that a recent study of Washington and Nevada lab results show an “unusual spike” in the occurrence of dried cannabis products listed as having just over 20% THC. After looking through the data, the study authors realized why this was the case: “The average THC results were higher for the labs who had their licenses suspended. But also, there’s just not the same bunching around 20% for the largest (more trustworthy) labs... The plant doesn’t care if it’s got 19.8% or 20.2% THC, but consumers seem to care and you see that in the testing results for the labs who had their licenses suspended, but not for (the other labs).”
Crypto comes to cannabis: NFT collectible cards seek to give consumers ‘ownership over favorite strains’
Not content to be involved in just one industry with meme potential, cannabis art company Califari and cannabis private equity firm Merida Capital Holdings have formed a joint venture to create a platform that will combine cannabis and non-fungible tokens, or NFTs. Consumers will have the opportunity to purchase an NFT that will give them ownership (or at least a sense of ownership) of some of the most recognized strains in the cannabis market including Grand Daddy Purple, Sour Diesel, and Northern Lights.
New York will impact global cannabis market like no other region
The Marijuana Regulation and Taxation Act (MRTA) sets the stage for a more social equity-focused cannabis legalization process than has been seen in many states. Not only can you now smoke anywhere you can smoke tobacco, but tax revenues and licenses are generally being directed to communities historically impacted by the War on Drugs. In an attempt to keep larger operators at bay, the laws ban vertical integration in most cases. But, some notable exceptions have been written into the law for existing medical cannabis operators, nine of which are vertically integrated, multi-state operators - a potentially significant advantage for the incumbents, especially those that spent significant amounts to purchase those NY medical cannabis licenses.
Just a Lil’ 4/20 celebration: Lil Wayne Inks Deal To Bring 4/20 Parties To L.A. Coliseum
Grammy award-winning rapper, singer, songwriter, record executive, entrepreneur, and actor Lil’ Wayne has staked out his spot in California’s cannabis cultural landscape by signing a 5-year deal to host awesome 4/20 parties at the Los Angeles Memorial Coliseum with its landmark torch. In a sign that we still have a bit to go before the COVID-19 pandemic has passed, this year’s 4/20 will only offer the opportunity to buy tickets for the inaugural “Uproar” event that will be taking place in August.
Biden Is Too Busy To Decriminalize Marijuana, Harris Says
In an interview with The San Francisco Chronicle, Vice President Kamala Harris was asked about cannabis policy and said “we haven’t yet taken that on” despite campaign promises to push for reforms like decriminalization and expunging prior marijuana records. “Honestly, right now, we’ve been focused on getting people food, helping them stay in their apartments or in their homes, getting kids back to school, getting shots into arms,” she said. “That has been all-consuming.” Luckily for us in the industry, our main man Schumer still has us on his mind.
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This Week's News: April 2, 2021
In 2020 state and local cannabis tax revenues brought in $3B. With New York, New Mexico, and Virginia poised to have recreational legalization come online in the coming months, that number is most likely going to soar even higher. We at Bengal believe that the increased need for tax revenue by governments will continue to drive increased recreational legalization of the plant. One day pot taxes could be used to fill potholes across the U.S., even if President Biden might disagree. While cannabis is legal in a wide array of states, it is still illegal to smoke or consume in public. For that reason, cannabis lounges are poised to make a comeback when pandemic restrictions relax more fully, especially in tourist-heavy markets like Nevada. New York, in a very cannabis-user friendly move, made it legal to smoke cannabis wherever it is legal to smoke tobacco.