Cannabis Personal Care Products Could Soon Be Worth $2 Billion

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That’s a lot of lotion.
Here’s your daily round-up of pot news, excerpted from the newsletter WeedWeek.
A report found that cannabis “ medicinals and personal care products” could be a $2 billion industry by 2020. Sales of high-CBD products are growing among non-traditional cannabis users.

The new REC states have big plans for pot taxes. The Cannabist alerts them to “ five immediate concerns” about the industry.

Kris Krane, president of consulting firm 4Front Ventures, pooh-poohs the notion of Big Pot.

“There isn’t some megalithic industry that exists today…The notion that there are these gigantic, big-money players running in to take this whole thing over is just a fiction. There’s no Philip Morris, no Anheuser-Busch, no cannabis division at Bank of America. Even the most successful company is still barely in the growth stage.”

September was the third-straight best-month-ever for Colorado dispensaries.

A company called CanPay has what it calls the first “legitimate” debit payment system for dispensaries. The customer pays with a QR code accessed on their phone.

The Post Office has few safeguards for stopping employees who intercept weed sent through the mail.

Employers in California will still be able to fire workers who test positive. The San Jose Mercury News piece mentions that near one drug testing lab in Colorado, workers who arrive with containers of someone else’s clean urine tend to heat it up in a nearby convenience store’s microwave.

Canadian firms appear to be gouging the government healthcare system by signing up veteran MED patients for expensive strains according to a Vice report. Canadian companies could also benefit if there’s a crackdown in the U.S.

The Toronto Stock Exchange halted trading of six surging cannastocks. Some market watchers think it’sstill too early to invest.

Heavy rains in southern Oregon will force growers to torch moldy crops. Some rural Colorado communities derive much needed revenue from pot.

Florida entrepreneurs are excited about MED.

Jamaica’s licensing authority received 89 applications.

Could Delaware become a tax-free cannabis haven?” Small-scale Northern California growers areadjusting to legalization.

The U.S. Surgeon General says most illegal drug users don’t receive treatment. Many of them don’t want or need treatment, Reason says.

A study suggests that cannabis use can weaken heart muscles, particularly in young men. Read it here.

The journal Science says that the lower potency of plants from the one federally-sanctioned grow ( the one in Mississippi) undermines studies conducted with those plants.

Scientists are working on a new drug that functions like MED without the psychoactive effect.

Recent studies suggest that cannabis use may have mental health benefits and could have a role in curtailing opiate use.

Viceland uncovers a U.K. network of underground MED providers who give it away to patients.

British Columbia Premier Christy Clark, a Liberal, said police had discovered pot and other drugs laced with the powerful opiate fentanyl. Vancounver police denied it.

Some researchers are starting to take psychedelics seriously, as therapy. Also see this.

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