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Over 900 Applicants Are Seeking Entry into NY’s Retail Cannabis Market, Economic Analysis Finds Arkansas Cannabis Legalization Could Result in Nearly $1 Billion in Annual Sales, and Yet Another Study Finds that Legal Access to MMJ Reduces Opioid Use

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Over 900 Applicants Are Seeking Entry into NY’s Retail Cannabis Market

Those applying for adult-use cannabis retail licenses in New York state face a lot of competition. According to the most recent information from the Office of Cannabis Management, 903 applicants have completed the process for the 150 available adult-use marijuana retail licenses. Officials have not specified when they plan to announce the license winners. Priority for licensing will go to those with a prior cannabis-related conviction and those with demonstrated business acuity. Sales are expected to officially launch later this year or early next year.   

Economic Analysis Finds Arkansas Cannabis Legalization Could Result in Nearly $1 Billion in Annual Sales

The group behind Arkansas’ legalization initiative, Responsible Growth Arkansas, has commissioned an economic analysis report on the impact legalizing cannabis would have on the state. The analysis was conducted by the Arkansas Economic Development Institute (AEDI). The report showed that if voters pass the initiative this November, it could result in almost $1 billion in sales every year and over $460 million in tax revenue over five years. Micheal Pakko, the chief economist with AEDI, said in a press release that cannabis legalization would add roughly 6,400 jobs to Arkansas’ economy by 2027. Recent polling suggests that legalization stands a good chance in the state, with approximately 59 percent of voters likely to approve the initiative. 

Yet Another Study Finds that Legal Access to MMJ Reduces Opioid Use

A recent study published in the peer-reviewed journal Substance Use and Misuse found that patients with legal access to medical marijuana were able to reduce their reliance on opioids. The study was conducted by researchers with the Florida State University College of Medicine and Emerald Coast Research firm. They surveyed 2,183 patients from medical marijuana dispensaries around Florida to ask them about the effect medical marijuana has had on their quality of life. According to the results, just over 90 percent of those surveyed said that medical cannabis was “very or extremely helpful in treating their medical condition”. In addition, 85.9 percent of survey respondents said that medical marijuana aided in pain reduction. This finding was linked to the fact that 79 percent of individuals surveyed who were taking opioid painkillers said they were able to reduce or even stop their use of opioids once they started using cannabis.