Legal States Have Fewer Workers Comp Claims
In the ongoing debate over marijuana’s full legalization, a new study offers supports this potential payoff: cheaper workers’ compensation claims for injured workers.
In states that legalized recreational marijuana use between 2010 and 2018, fewer older workers filed workers’ compensation claims and when they did, the payouts tended to be smaller, according to new research distributed by the National Bureau of Economic Research.
When workers in pain have access to cannabis as a form of chronic pain management, that may reduce their need altogether for workers’ compensation, according to economists at Temple University, the University of Cincinnati, William Paterson University and the RAND Corporation.
Who’s the Boss?
Being your own boss and running your own business is one of the most common American dreams. It’s a standard theme in movies, where the out of work lead character looks at an empty storefront and dreams of opening their own bakery, restaurant or barber shop. They’re not alone — three of every five people dream of starting their own business.
Despite the pandemic, the IRS received 4.4 million applications for new businesses, according to the Bureau of Labor Statistics (BLS), and this is while 30% of small businesses were shuttering due to the impact of COVID-19.
CBD Could be a Dietary Supplement
Bi-partisan legislation aimed at advancing clear rules for CBD and other hemp compounds has been re-introduced in the U.S. Congress.
The Hemp and Hemp-Derived CBD Consumer Protection and Market Stabilization Act of 2021, would allow hemp and hemp derived CBD to be marketed in dietary supplements under new ingredient requirements.
Million to One Shot
An Astoria, New York smoke shop saw a boom in business a boom in business after selling a $1 million lottery ticket in a January drawing.
“I never thought selling the winning ticket would bring so many people in — “They say it’s the lucky place,” Saadain Shabbir, a clerk at High Rollers Smoke Vape & Convenience, told the Astoria Post.
High Tide Becomes World’s Largest Online Smoke Shop
Calgary, Alberta-based marijuana retailer High Tide is spending $8 million to acquire Smoke Cartel, a U.S. e-commerce website that sells cannabis accessories and CBD products.
When the deal is closed, High Tide said it “will operate both the largest and second largest e-commerce platforms for consumption accessories in the world and (believes) it will be well positioned to begin online cannabis sales should the United States move towards federal legalization.”
High Tide already owns Grasscity.com, a U.S. online cannabis accessory retailer, as well as U.S. online cannabidiol store CBDcity.com. The company also owns accessory wholesaler Valiant Distribution.
High Tide said Smoke Cartel anticipates revenues of roughly $7.4 million.
Want a Cannabis Job? Move to Michigan!
More than 18,000 workers are employed in Michigan’s cannabis industry, nearly double the number from a year ago.
“There are now more cannabis workers than cops in Michigan,” said the fifth annual Leafly jobs report. “In a state known for its auto industry, the number of cannabis workers is now roughly equal to the number of auto repair mechanics.”
Lawmaker Looks to Stop Digital Tobacco Ads Targeting Minors
After a student in the Colorado city of Littleton was exposed to a tobacco product digital advertisement on the e-learning website Quizlet, a Republican state lawmaker is vying for a legislative fix to this issue. The ad, reports local media outlets, depicted promotional material for the IQOS heat-not-burn system sold in the United States by Altria Group and Philip Morris International.
The Denver Post reports that the lawmaker, Rep. Colin Larson of Littleton, is now in talks with Attorney General Phil Weiser to assess if there is a need for a legislative fix to address this issue. According to the Post, Larson sponsored legislation that increased the minimum legal sales age from 18 to 21 years in the state.