The leader of the New Jersey Senate filed a bill on Thursday that would legalize the possession, home cultivation and gifting of psilocybin mushrooms for adults 21 and older—with provisions that give adults even more freedoms for the psychedelic than are afforded under the state’s current marijuana laws.
The legislation from Senate President Nicholas Scutari (D), who has long championed cannabis reform in the Garden State, would further create a system of licensed businesses to provide psilocybin services in supervised settings.
The Assembly Oversight, Reform and Federal Relations Commission has initiated a series of hearings about how to best conduct independent third-party analyses of cannabis products. What can be done by the state lab or private labs to check contents and packaging of what’s on dispensary shelves?
“We need to remember that unlike the federal government, New Jersey doesn’t have an FDA to do its work. And we have to basically be our own,” said committee chairman Assemblyman Joe Danielsen, D-Somerset.
The market for oils, capsules, body lotions, and other products containing cannabidiol, better known as CBD derived from hemp, has been rapidly growing. But there’s room for further expansion with ingestibles. What the industry needs is for the FDA to take action and classify CBD as a food additive or supplement enabling it to be included in food, beverages and supplements.
The FDA is currently accepting information and comments on a public docket in an effort to gather information on CBD. As of July 25, 4,492 comments had been received.
Until further regulation, New Jersey eateries that serve CBD-infused food have the go-ahead as long as their products don’t cross state lines. Jeff Brown, the assistant commissioner of the Department of Health’s Medical Marijuana Program, said that doesn’t mean the agency, which also oversees food safety in the state, endorses the use of it.
Cannabis stocks were mostly lower on Tuesday, led by Curaleaf Holdings, after the U.S. Food and Drug Administration sent a warning letter to the company for claiming CBD-based products could treat a range of serious diseases, including Alzheimer’s disease.
Curaleaf CURLF, -7.27% is “illegally selling unapproved products containing cannabidiol (CBD) online with unsubstantiated claims that the products treat cancer, Alzheimer’s disease, opioid withdrawal, pain and pet anxiety, among other conditions or diseases,” the FDA wrote.
Fueled in part by CBD product sales and Canada's recent legalization of marijuana, the world's cannabis market could notch $15 billion this year.
Industry insiders are forecasting that global cannabis sales could total $14.9 billion in 2019, up 36% from 2018, according to a new report released Thursday.
Today, the Agriculture Improvement Act of 2018 was signed into law. Among other things, this new law changes certain federal authorities relating to the production and marketing of hemp, defined as cannabis (Cannabis sativa L.), and derivatives of cannabis with extremely low (less than 0.3 percent on a dry weight basis) concentrations of the psychoactive compound delta-9-tetrahydrocannabinol (THC). These changes include removing hemp from the Controlled Substances Act, which means that it will no longer be an illegal substance under federal law.
A school-based survey shows nearly 1 in 11 U.S. students have used marijuana in electronic cigarettes, heightening health concerns about the new popularity of vaping among teens.
E-cigarettes typically contain nicotine, but many of the battery-powered devices can vaporize other substances, including marijuana. Results published Monday mean 2.1 million middle and high school students have used them to get high.
The head of the U.S. Food and Drug Administration (FDA) appeared to signal his support for marijuana decriminalization on Friday.
Appearing on CNBC’s “Squawk Box,” FDA Commissioner Scott Gottlieb discussed the agency’s support for scientific research into cannabis, shared thoughts about recreational marijuana use and offered his perspective on the state of federal marijuana laws.