Cannabis Legalization and Regulation
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The Green Regulatory Arbitrage
Table of Contents I. EXECUTIVE SUMMARY ...................................................................................................... 1 II. PROHIBITION - HOW CANNABIS BECAME ILLEGAL ..................................................... 4 III. THE LEGAL LANDSCAPE .................................................................................................... 7 A. Federal Law And Its Impact On The Cannabis Industry ..................................................... 7 1. Cannabis Is A Schedule 1 Substance ............................................................................ 7 2. Access To Capital Markets Restricted ......................................................................... 9 3. Banking Services Limited .......................................................................................... 10 4. Tax Burdens .............................................................................................................. 11 5. Interstate And International Commerce Restrictions ................................................. 11 6. Insurance Options Limited ........................................................................................ 12 7. Medical Research And Clinical Trials Stymied .......................................................... 12 8. Professional Services Harder To Find ........................................................................ 13 9. Real Estate Challenges .............................................................................................. 13 B. The States -
Marijuana Legalization in Uruguay and Beyond
Marijuana Legalization in Uruguay and Beyond Maria Fernanda Boidi Insights Research Group José Miguel Cruz Latin American and Caribbean Center, FIU Rosario Queirolo Universidad Católica del Uruguay (UCU) Emily Bello-Pardo Latin American and Caribbean Center, FIU FIU College of Arts & Sciences - School of International and Public Affairs n 2013, Uruguay became the first country in the world to regulate Ithe possession, growth, and distribution of cannabis. The initiative of marijuana regulation by President José Mujica, was passed by the Uruguayan Congress and signed into Law as 19172 by the president in December 20, 2013. The regulation of marijuana, however, has been met with important challenges. According to the AmericasBarometer 2014, over sixty percent of Uruguayan citizens have expressed disagreement with the law. Additionally, leaders within the International Narcotics Control Board have expressed opposition to legalization, characterizing the new law as being in direct defiance of the international drug control treaties. As a result, Uruguay faces both domestic and international opposition in pursuing its innovative marijuana regulation model. This report summarizes the preliminary results from the first systematic research project conducted on the process of marijuana regulation in Uruguay. It revolves around two surveys. First, a Respondent-Driven Sample survey conducted with marijuana consumers in the metropolitan area of Montevideo; and second, the 2014 AmericasBarometer survey in Uruguay conducted by the Latin American Public Opinion Project. The research has been conducted by the Latin American Marijuana Research Initiative (LAMRI), formed by the Latin American and Caribbean Center (LACC) at Florida International University and the Universidad Católica del Uruguay (UCU), with funds from the Open Society Foundations. -
Cannabis and Its Secondary Metabolites: Their Use As Therapeutic Drugs, Toxicological Aspects, and Analytical Determination
medicines Review Cannabis and Its Secondary Metabolites: Their Use as Therapeutic Drugs, Toxicological Aspects, and Analytical Determination Joana Gonçalves 1,†, Tiago Rosado 1,†, Sofia Soares 1,†, Ana Y. Simão 1,†,Débora Caramelo 1,†, Ângelo Luís 1,† , Nicolás Fernández 2,†,Mário Barroso 3, Eugenia Gallardo 1 and Ana Paula Duarte 1,* 1 Centro de Investigação em Ciências da Saúde, Faculdade de Ciências da Saúde da Universidade da Beira Interior (CICS-UBI), 6200-506 Covilhã, Portugal; [email protected] (J.G.); [email protected] (T.R.); sofi[email protected] (S.S.); [email protected] (A.Y.S.); [email protected] (D.C.); afl[email protected] (Â.L.); [email protected] (E.G.) 2 Universidad de Buenos Aires, Facultad de Farmacia y Bioquímica, Cátedra de Toxicología y Química Legal, Laboratorio de Asesoramiento Toxicológico Analítico (CENATOXA). Junín 956 7mo piso. Ciudad Autónoma de Buenos Aires (CABA), Buenos Aires C1113AAD, Argentina; [email protected] 3 Serviço de Química e Toxicologia Forenses, Instituto de Medicina Legal e Ciências Forenses - Delegação do Sul, 1169-201 Lisboa, Portugal; [email protected] * Correspondence: [email protected]; Tel.: +35-127-532-9002 † These authors contributed equally to this work. Received: 31 January 2019; Accepted: 18 February 2019; Published: 23 February 2019 Abstract: Although the medicinal properties of Cannabis species have been known for centuries, the interest on its main active secondary metabolites as therapeutic alternatives for several pathologies has grown in recent years. This potential use has been a revolution worldwide concerning public health, production, use and sale of cannabis, and has led inclusively to legislation changes in some countries. -
CANNABIS in LATIN AMERICA: the Regulations and Opportunities
CANNABIS IN LATIN AMERICA: The Regulations and Opportunities © 2019 Anne Holland Ventures Inc. All Rights Reserved RE S GIS N T IG E S R E E D D C Y O T I M N M U Cannabis in Latin America: The Regulations and Opportunities MJBIZDAILY.COM/INTL CANNABIS IN LATIN AMERICA: THE REGULATIONS AND OPPORTUNITIES The marijuana industry continues to expand internationally, with Latin America and the Caribbean becoming increasingly more difficult to ignore for companies with global aspirations. The geographical region that stretches from the southern border of the United States until the southern tip of South America, including the Caribbean, is home to about 650 million people, of which the vast majority live in a country with some sort of legal medical cannabis. The sheer number of inhabitants, ideal growing conditions in large parts of the region and jurisdictions in favor of production for export signal potentially huge business opportunities. With this report, our goal is to provide a sober analysis, recognizing the prospects that the region as a whole and each country in particular offer. But we also pay close attention to Alfredo Pascual the other side of the coin: weighing the unique challenges of investing or doing business in these jurisdictions. Whenever world maps are colored to show the countries that have some form of legal medical cannabis framework, Latin America is included almost in its entirety. But, as is often the case, the devil is in the details. Restrictive access schemes, lack of health insurance coverage and widespread home growing moderate any initial excitement about the commercial opportunities in these markets. -
The Rise and Decline of Cannabis Prohibition the History of Cannabis in the UN Drug Control System and Options for Reform
TRANSNATIONAL I N S T I T U T E THE RISE AND DECLINE OF CANNABIS PROHIBITION THE HISTORY OF CANNABIS IN THE UN DruG CONTROL SYSTEM AND OPTIONS FOR REFORM 3 The Rise and Decline of Cannabis Prohibition Authors Dave Bewley-Taylor Tom Blickman Martin Jelsma Copy editor David Aronson Design Guido Jelsma www.guidojelsma.nl Photo credits Hash Marihuana & Hemp Museum, Amsterdam/ Barcelona Floris Leeuwenberg Pien Metaal UNOG Library/League of Nations Archives UN Photo Printing Jubels, Amsterdam Contact Transnational Institute (TNI) De Wittenstraat 25 1052 AK Amsterdam Netherlands Tel: +31-(0)20-6626608 Fax: +31-(0)20-6757176 [email protected] www.tni.org/drugs www.undrugcontrol.info www.druglawreform.info Global Drug Policy Observatory (GDPO) Research Institute for Arts and Humanities Rooms 201-202 James Callaghan Building Swansea University Financial contributions Singleton Park, Swansea SA2 8PP Tel: +44-(0)1792-604293 This report has been produced with the financial www.swansea.ac.uk/gdpo assistance of the Hash Marihuana & Hemp Museum, twitter: @gdpo_swan Amsterdam/Barcelona, the Open Society Foundations and the Drug Prevention and Information Programme This is an Open Access publication distributed under (DPIP) of the European Union. the terms of the Creative Commons Attribution License The contents of this publication are the sole responsibility (http://creativecommons.org/licenses/by/2.0), which of TNI and GDPO and can under no circumstances be permits unrestricted use, distribution, and reproduction regarded as reflecting the position of the donors. in any medium, provided the original work is properly cited. TNI would appreciate receiving a copy of the text in which this document is used or cited. -
Recreational Marijuana Effect in Labour Market Outcomes: Evidence from Uruguay
Universidad de San Andr´es Departamento de Econom´ıa Licenciatura en Econom´ıa Recreational marijuana effect in labour market outcomes: Evidence from Uruguay Authors: Mat´ıasHern´anMolina Svarre (28072) Pablo Daniel Z´arate(28240) Mentor: Mart´ınRossi Victoria, January 2020 1 Introduction Recreational marijuana usage has been introduced in plenty of countries' debates as a possible progressive reform, now more than ever. On the one hand, people against recreational marijuana usage argue that the legalization would result in an increase in drug addiction, criminal behavior and consumption, and even in a low performance overall. On the other hand, supporters of this policy state that it helps to reduce crime by jeopardizing illegal marijuana producers and dealers. Also, by regulating the marijuana market, government and consumers can profit, respectively, by taxing this new market and by getting a lower price as a result of higher competition, in contrast to the monopoly held in the black market. In 2013, Uruguay became the first Latin American country to allow recreational marijuana consumption, and it is still the only one in the continent. About 6 years after its approval, we want to focus on the impact it had on the labour market, more precisely on the unemployment rate. To do this, we will employ a synthetic control to identify the effect of this policy. In the last few years, marijuana was legalized for recreational use in Uruguay, Canada and in many states of the US. The social and economic implications of such policies have been a major concern for policymakers and researchers. However, there is evidence that suggests positive effects of cannabis on multiple outcomes. -
Life Cycle Assessment of Hemp Biomass Fields for Commercial Cannabidiol Resin Produced in Uruguay
LIFE CYCLE ASSESSMENT OF HEMP BIOMASS FIELDS FOR COMMERCIAL CANNABIDIOL RESIN PRODUCED IN URUGUAY Juan Silva Förnamn EfternamnDegree Thesis Materials Processing Technology 2021 DEGREE THESIS Arcada Degree Programme: Material Processing Technology Identification number: 24098 Author: Juan Silva Title: Life cycle assessment of hemp biomass fields for commercial cannabidiol resin produced in Uruguay Supervisor (Arcada): Stewart Makkonen-Craig Abstract: A life cycle assessment (LCA) for hemp biomass with data supplied by a Uruguayan company “Innovaterra Ltd.” was conducted in this study. The LCA analyses only the agricultural phase and not the industrial production of the resin. Therefore, the system boundary utilized is “cradle-to-gate”. The functional unit is kgs fibre/hectare, with the time constrain from the vegetative to the flowering phase until the harvest of the plant (approximately seven months). The aim of the thesis is to discover how much greenhouse gasses (GHG) will be produced in one hectare of hemp biomass field and to reveal the environmental impacts. GaBi LCA software is utilized for the computation of the LCA. This LCA was conducted through following the ISO standards 14040-140440 The inputs and outputs for creating the scenarios, plan, and processes of the LCA are based on literature review and data provided by Innovaterra Ltd. A negative result from the CO2 total emission was achieved, with a value of – 2.8 tons of CO2 equivalent. This is due to the higher CO2 sequestration that one hectare of hemp produces a year with the sowing density and fields design with grass corridors. Additionally, the irrigation system is powered by hydroelectric power. -
Marijuana Legalization in Uruguay and Beyond Executive Summary
Marijuana Legalization in Uruguay and Beyond Executive Summary María Fernanda Boidi, Insights Research Group José Miguel Cruz, Latin American and Caribbean Center, FIU Rosario Queirolo, Universidad Católica del Uruguay Emily Bello-Pardo, Latin American and Caribbean Center, FIU In 2013, Uruguay became the first country in the world to regulate the possession, growth, and distribution of cannabis. The initiative of marijuana regulation by President José Mujica, was passed by the Uruguayan Congress and signed into Law19172 by the president in December 20, 2013. The regulation of marijuana, however, has been met with important challenges. According to the AmericasBarometer 2014, over sixty percent of Uruguayan citizens have expressed disagreement with the law. Additionally, leaders within the International Narcotics Control Board have expressed opposition to legalization, characterizing the new law as being in direct defiance of the international drug control treaties. As a result, Uruguay faces both domestic and international opposition in pursuing its innovative marijuana regulation model. This report summarizes the preliminary results from the first systematic research project conducted on the process of marijuana regulation in Uruguay. It revolves around two surveys. First, a Respondent-Driven Sample survey conducted with marijuana consumers in the metropolitan area of Montevideo; and second, the 2014 AmericasBarometer survey in Uruguay conducted by the Latin American Public Opinion Project. The research has been conducted by the Latin American Marijuana Research Initiative (LAMRI), formed by the Latin American and Caribbean Center (LACC) at Florida International University and the Universidad Católica del Uruguay (UCU), with funds from the Open Society Foundations. I. The Legal Framework Law 19172 provides three ways to legally obtain cannabis in Uruguay. -
Ianthus Capital Holdings, Inc
iAnthus Capital Holdings, Inc. MANAGEMENT’S DISCUSSION AND ANALYSIS For the Three Months Ended March 31, 2019 and 2018 Management’s Discussion and Analysis For the three months ended March 31, 2019 and 2018 (In thousands of U.S. Dollars, unless stated otherwise) Company Overview iAnthus Capital Holdings, Inc. (the “Company”, or “ICH”, or “iAnthus”) is one of the largest Multi-State Operators (MSOs) in the United States, providing investors with diversified exposure to the regulated cannabis industry. We develop, own and operate, what we believe to be, the best-in-class licensed cannabis cultivation, processing and dispensary facilities and we offer our innovative branded cannabis products in the United States. Through our subsidiaries, we currently own and/or operate 21 dispensaries and 13 cultivation/processing facilities throughout the eastern and western regions of the United States and distribute our cannabis products to over 100 dispensaries. Under our existing licenses, interests and contractual arrangements, we have the capacity to own and/or operate up to 68 dispensaries and up to 15 cultivation/processing facilities, and manufacture and distribute our cannabis products in 11 states with an aggregate population of approximately 121 million. Our multi-state operations encompass the full spectrum of medical and adult-use cannabis enterprises, including cultivation, processing, product development, wholesale-distribution and retail. Our cannabis products include flower and trim, products containing cannabis flower and trim (such as pre-rolls), cannabis infused products, and products containing cannabis extracts (such as vape cartridges, concentrates, wax products, oils, tinctures, topical creams and edibles). We are an innovative leader in the burgeoning regulated cannabis industry in the United States and we are committed to creating a distinctive customer retail experience at our branded stores nationally and a portfolio of branded cannabis products recognized both in the United States and around the world. -
Important Dates in Hemp History 10,000-Year History of Marijuana Use in the World
Important dates in Hemp History 10,000-year History of Marijuana use in the World 8,000+ BCE Use of hemp cord in pottery identified at ancient village site dating back over 10,000 years, located in the area of modern day Taiwan. 6,000 BCE Cannabis seeds and oil used for food in China. 4,000 BCE Textiles made of hemp are usedina. in China and Turkestan. 2,737 BCE First recorded use of cannabis as medicine by Emperor Shen Neng of China. 1,500 BCE Cannabis cultivated in China for food and fiber. Scythians cultivate cannabis and use it to weave fine hemp cloth. 100 BCE First evidence of hemp paper, invented in China. 100 Imported hemp rope appears in England. 105 Legend suggests that Ts'ai Lun invents hemp paper in China, 200 years after its actual appearance (see 100 BCE above). 300 A young woman in Jerusalem receives medical marijuana during childbirth. 570 The French queen Arnegunde is buried with hemp cloth. 500-600 The Jewish Talmud mentions the euphoriant properties of Cannabis. 850 Vikings take hemp rope and seeds to Iceland. 900 Arabs learn techniques for making hemp paper. 1271-1295 Marco Polo brings cannabis to Europe. 1300 Ethiopian pipes containing marijuana suggest the herb has spread from Egypt to the rest of Africa. 1533 King Henry VIII fines farmers if they do not raise hemp for industrial use. 1549 Angolan slaves brought cannabis with them to the sugar plantations of northeastern Brazil. They were permitted to plant their cannabis between rows of cane, and to smoke it between harvests. -
Ianthus Capital Holdings, Inc
iAnthus Capital Holdings, Inc. MANAGEMENT’S DISCUSSION AND ANALYSIS For the Three and Nine Months Ended September 30, 2019 and 2018 Management’s Discussion and Analysis For the three and nine months ended September 30, 2019 and 2018 (In thousands of U.S. Dollars, unless stated otherwise) Company Overview iAnthus Capital Holdings, Inc. (the “Company” or “iAnthus”) is one of the largest Multi-State Operators (“MSOs”) in the United States, providing investors with diversified exposure to the regulated cannabis industry. The Company develops, owns, and operates, what it believes to be, the best-in-class licensed cannabis cultivation, processing, and dispensary facilities, and the Company offers innovative branded cannabis and cannabidiol (“CBD”) products in the United States. Through its subsidiaries, the Company currently owns and/or operates 27 dispensaries and 13 cultivation/processing facilities throughout the United States and distributes cannabis and CBD products to over 200 dispensaries and 1,500 retail stores, respectively. Under the Company’s existing licenses, interests, and contractual arrangements, the Company has the capacity to own and/or operate up to 68 dispensaries and up to 15 cultivation/processing facilities, and manufacture and/or distribute its cannabis products in 11 states with an aggregate population of approximately 121 million. Incorporated in British Columbia, Canada in 2014, the Company became the first licensed multi-state cannabis operator in the United States to publicly trade on the Canadian Securities Exchange (the “CSE”) in 2016. iAnthus’ multi-state operations encompass the full spectrum of medical and adult-use cannabis enterprises, including cultivation, processing, product development, wholesale-distribution, and retail. -
1 the Repercussions of Cannabis Legalization A
THE REPERCUSSIONS OF CANNABIS LEGALIZATION A THESIS SUBMITTED TO THE GRADUATE SCHOOL IN PARTIAL FULFILLMENT OF THE REQUIREMENTS FOR THE DEGREE MASTER OF ARTS IN POLITICAL SCIENCE BY HERB ENGMAN DR. STEVEN HALL ADVISOR BALL STATE UNIVERSITY MUNCIE, INDIANA December 2014 1 ACKNOWLEDGEMENTS I would like to express gratitude to the staff of the Ball State University Political Science Department, specifically Dr. Steven Hall for his guidance and support throughout the research method process. Dr. Joseph Losco, Dr. Daniel Reagan, and Dr. Darren Wheeler provided additional instruction and encouragement throughout the graduate program experience. I would also like to express thanks for the assistance received from all Ball State Department of Political Science staff for their professionalism and prompt resolution of administrative issues. Finally, I would like to express my gratitude to my parents, who instilled in me a regard for work ethic and education, as well as my wife who supported me in allowing me time to focus on this academic work. 2 Introduction The wave of current cannabis legalization in the United States began with the implementation of medicinal use legislation, specifically Proposition 215, “The Compassionate Care Act,” in California in 1996. In such models of medicinal use, law enforcement does not pursue prosecution of individuals for cannabis use as long as they are in possession of a physician’s recommendation that stipulates possible medical benefit or alleviation of symptoms with the use of cannabis. Cannabis is currently a schedule I substance under the Federal Controlled Substances Act (CSA); therefore, doctors are unable to prescribe cannabis as doing so would be a violation of Federal Law.