Global Ganja Report

Hemp Business Journal reports that products infused with CBD oil are leading growth in hermp-derived products sold in the United States generally, which in 2016 had a collective retail value of $688 million. This figure represents a five year 22% compound annual growth rate (CAGR). Joining more traditional products such as shelled seed, protein powder, soaps and lotions, are growing lines of medicinal preparations such as CBD edibles. Hemp-derived cannabidiol (CBD) accounted for $130 million in sales last year.

Attorney General Jeff Sessions signed an order July 19 reversing limits on the federal civil asset forfeiture program that were instated under the Obama administration in 2015. The widely criticized civil forfeiture program allows law enforcement to seize cash and property from citizens who have not been charged with any crime. But under the Obama-era change, the feds respected the right of states to rein in the practice. With Sessions' change, that is now undone.

The first decisive step toward the liberalized atmosphere for cannabis across much of the country was quite arguably San Francisco's Proposition P of 1991—the popular initiative that protected medical marijuana use in the city. So it's heartwarming that the City by the Bay has just established an Office of Cannabis to oversee legal sales. 

Portending an unprecedented showdown with federal power, California's State Assembly on June 1 approved a bill that would bar state and local law police from cooperating with the DEA and other federal agencies in cannabis enforcement efforts, unless compelled to do so by a court order. "Prohibiting our state and local law enforcement agencies from expending resources to assist federal intrusion of California-compliant cannabis activity reinforces...the will of our state's voters who overwhelmingly supported Proposition 64,” Assemblyman Reggie Jones-Sawyer (D-Los Angeles), lead author of the bill, told the Los Angeles Times when it was still pending.

Damian Marley, youngest son of late reggae superstar Bob Marley, has joined with a group of Colorado cannabis entrepreneurs associated with the firm Denver Relief to buy controlling interest in High Times magazine, the counterculture icon with a valuation of $70 million. According to the San Francisco Chronicle, the deal includes websites, publishing and the Cannabis Cup trade shows and competitions.

It is certainly a sign of the times that a partnership of major California media—led by Bay Area News Group, owner of the San Jose Mercury News—has launched a website entitled The Cannifornian, "Covering the Golden State of Cannabis." That means it's dedicated to reportage on the fast-growing cannabis sector in post-legalization California. An April 25 offering, "Venture capital investors betting big on cannabis," notes that financial consultancy firm New Frontier Data is predicting nationwide legal cannabis sales will balloon to more than $24 billion by 2025.

Attorney General Jeff Sessions, speaking to the Justice Department's Organized Crime Drug Enforcement Task Force (OCDETF) on April 18, pledged that the Trump administration will have "zero tolerance for gang violence" from "transnational criminal organizations"—particularly singling out MS-13, the Central American narco-network that has its roots on the streets of Los Angeles.

The group High NY, "New York's Cannabis Community," hosted an event on "How to Apply Your Skills in the Cannabis Industry" at a Lower Manhattan venue the evening of March 22, featuring speakers with background in the biz from California, Massachusetts and the District of Columbia. Unlike these three polities, New York state has not legalized. But organizers took heart that on that very same day as their meet-up, chronic pain was added to the qualifying conditions under the Empire State's burgeoning if still limited medical marijuana program.