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420 with CNW — What’s Next for Medical Marijuana After NJ Legalizes Recreational Pot?

A week ago, New Jersey legalized the sale of marijuana. The state has allowed the sale of medical marijuana since 2010 when the Compassionate Use Medical Marijuana Act was approved. Currently, upwards of 80,000 individuals in the state use marijuana to help alleviate or treat symptoms of various conditions, which range from epilepsy, cancer, nausea and pain to glaucoma and ALS.

The state’s medical cannabis program is designed to help some individuals improve their quality of life and others to ease their last moments of life. However, there are those who are concerned that the legalization of recreational marijuana for adults may influence the medical cannabis program. In various states, the launch of a recreational marijuana market has severely damaged the availability of medical marijuana.

The rise of the markets may influence some patients to ditch the doctor’s office visit for self-medication using the recreational products. Additionally, the marijuana strains that medicinal patients use, especially those with low THC levels, often become unavailable. The increase in recreational markets therefore indirectly leads to growth in overall THC levels in the marijuana sold in a state because many growers opt to sell only products with high THC levels.

Research also shows that specialized edibles normally purchased by medical patients also increase in price after the legalization of marijuana. An analysis was carried out by the Associated Press in four states where medical cannabis was available. The study revealed that in those four states — Alaska, Colorado, Nevada and Oregon — there was a decrease in the number of medical marijuana patients after the legalization of marijuana. In the state of Oregon, the number of medical marijuana shops dropped to two from 400.

There are many individuals who rely on medical marijuana, so if the medical marijuana dispensaries in New Jersey were to close down, the result would be tragic. The prejudices that prevent marijuana from being approved as medication do not help prevent this. These prejudices persist despite the many studies and trials that prove cannabis to be a medicinal plant with various benefits and a bonus recreational use as well.

The research is said to be insufficient though, as researchers look deeper into understanding marijuana and its strains as well as the conditions that it can help manage. To help do this, the Cannabis Education and Research Institute (“CERI”) was formed to advance research on cannabis. Apart from understanding the plant’s botanical properties, the institute is also calling for the end of federal restrictions that may impede research in this area. The removal of a prohibitive designation, such as the classification of marijuana as a schedule 1 drug, would only open the door to more research. This would be helpful in saving medical marijuana for individuals who need it.

A company you need to allot some attention to in the marijuana space is Sugarmade Inc. (OTCQB: SGMD). The ongoing coronavirus pandemic has boosted the cannabis delivery services offered by this firm to those in the San Francisco area.

About CNW420

CNW420 spotlights the latest developments in the rapidly evolving cannabis industry through the release of two informative articles each business day. Our concise, informative content serves as a gateway for investors interested in the legalized cannabis sector and provides updates on how regulatory developments may impact financial markets. Articles are released each business day at 4:20 a.m. and 4:20 p.m. Eastern – our tribute to the time synonymous with cannabis culture. If marijuana and the burgeoning industry surrounding it are on your radar, CNW420 is for you! Check back daily to stay up-to-date on the latest milestones in the fast -changing world of cannabis.

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