Former Eaze CEO being charged for transaction laundering

Jim Patterson, Eaze’s CEO until 2019, is under legal woes for “deceiving banks into processing $100 million worth of credit and debit payments for marijuana products,” according to MJBizDaily.
He will plead guilty tomorrow, thereby waiving an indictment.
The two men who were in charge of the online marketplace for Eaze were both indicted in March of 2020 for the scheme.
“The indictment alleged that the two, operating the Online Marijuana Marketplace, created fictitious online merchants that sold dog products, dive gear, carbonated drinks, green tea and face creams to route the marijuana transactions and get around cannabis banking restrictions,” again from MJBizDaily.
In the meantime, Eaze as a company is looking to put this all behind them and distance themselves from the controversy. A spokeswoman for the company wrote in an email to MJBizDaily, “as reported, we are cooperating with relevant authorities, Jim is no longer with the company and Eaze is not a defendant in this matter.”
Read the full story over at MJ Business Daily.

Why do we call marijuana “weed”?

It’s definitely a fun little exercise to go through the list of cannabis nicknames we’ve all accrued in our lexicon, and right at the front of that list is “weed”. The most stigmatized, loaded, meaning-drenched of the nicknames. It means something different to everyone.
Well a nice little article over at Greenstate dives into some of the titles, and where they came from. Although not the most thoroughly researched, it still has some nuggets (another one!) of interest.

“[Weed] was first listed as one of the “new words” for cannabis in the 1929 edition of “American Speech.” At the time, there were only two widely-used terms for marijuana in the U.S. – the English term, “hemp,” and the scientific word, “cannabis” – so canna-lovers were experimenting with new names to avoid being discovered.
The nickname “weed” didn’t exactly hit at first – mostly because the more exotic term “marijuana” infiltrated the American lexicon in the ‘30’s. It wasn’t until the early 2000’s that it really became popular, according to Google search records. Some speculate this is because millennials needed an alternative to their parent’s hippie nicknames, like “grass” and “flower.””

Kind of an ingenious way to get the authorities to lose interest–who cares about some random weed the kids are gushing over.
Another fascinating one in the article is “Dope”. “It comes from the 19th century Dutch word ‘doop,’ meaning ‘thick dipping sauce.’ Originally a cooking term, it eventually became synonymous with a thick-headed or slow person.”
“When semi-liquid opium became popular around 1889, the word ‘doop’ was first used in reference to narcotic stupefaction – A.K.A., getting stupid high.”
Check out the article for more on the origin of “reefer,” “marijuana,” or “grass,” and feel free to act like a total smart ass next time you get high with your friends.

After Months of Delay, New Jersey is close to weed legalization

In November, voters in New Jersey approved marijuana legalization in the state. However, there have been constant setbacks in bringing the bill to fruition. Seems that finally most of those hurdles have been past, with just one left.
According to app.com, this week NJ legislators are planning to pass a cleanup bill that deals with punishments for underage pot smokers.
This bill would create $50 fines, parent notification, and community group referrals for those caught with marijuana between the ages of 18-21. This fine amount is greatly reduced from earlier drafts, where it reached $500, which was thought to be too high and potentially would target Black and brown youth in the state.
Once this passes the state senate, Governor Murphy has signaled that he would finally sign the overarching legalization amendment passed by voters in November.
It’s been an uphill battle. From app.com, “legislators and the governor’s office have feuded over the number of permits for cannabis growers, changes to workplace drug testing laws and a tax structure that would both drive state revenue and repay communities most impacted by the war on drugs,” since the election.
Read the full article here

An Argument for THC Cap in Colorado

An article at The Denver Post calls for Democrats to follow science and decide on a cap on THC potency.

These concentrates are not plant material rolled in a joint. They are produced by soaking marijuana buds in chloroform, butane, and propane. Those chemicals extract and concentrate the THC from the plant into what’s called “wax” or “shatter.” With a crack pipe and a butane torch, users vaporize and inhale that THC-rich shatter. Or, as a change of pace, at a Colorado dispensary a user can just buy a 70% THC anal or vaginal suppository and insert that. These concentrates are what cause harm, and right now there are zero limits on their potency. Zero.
So what? Well, studies published in the internationally renowned medical journal The Lancet Psychiatry conclude that using products with 15% THC or higher triples the risk of psychosis, and daily use of such products quintuples that risk. In fact, 56 scientific studies have confirmed high potency THC’s connection to psychosis. In addition, a study published in The Journal of American Medicine in 2020 concluded that high potency THC “was associated with significant increases” in addiction and mental health disorders (like depression and anxiety). High potency THC is addictive. In 2017 The Journal of Psychiatric Research published a study concluding that THC addiction is “significantly associated with suicide” (especially for teens and veterans). This is the science that drove a Washington state legislator and public health professional to conclude THC concentrates have created “one of the largest emerging health crises of our time.”

In a previous article, we had looked into this argument with the conclusion that there simply needs to be much more research into what designates “too much” THC. Most can agree with a need for regulation, but where those numbers reside is up to debate. The author of the Denver Post article also backs this opinion, concluding that whatever the number, we simply follow the science.
Vermont, for instance, has created a cap of flower at 30% THC and concentrates at 60%. It will be fascinating watching this unfold and see the results come in over time.
Read full article at The Denver Post

20 Best Weed Comedies of all time

A nice little list was put together over at YardBarker that compiles the best weed comedies ever made.
I agree with most of it, although my top 10 would probably consist of different spellings of The Big Lebowski.
Half Baked
Pineapple Express
How High
Up in Smoke
Harold & Kumar Go to White Castle
Friday
Fast Times at Ridgemont High
Knocked Up
Super Troopers
The Big Lebowski
The Stoned Age
Mallrats
The Breakfast Club (debatable)
Super High Me
Don’t Be a Menace to South Central While Drinking Your Juice in the Hood
Empire Records
Tenacious D in The Pick of Destiny
This Is The End
Reefer Madness
Dazed and Confused

Read the full thing at Yard Barker.

WallStreetBets have turned their attention to weed

With a new administration seemingly open to marijuana legalization and more and more states taking action themselves, stocks for cannabis companies within and outside the country feel like solid bets.
Therefore cue the WSB army, who just last month ransacked the stock price of Gamestop, AMC, Nokia, and others, leaving very little behind.
In particular, Sundial (SNDL), Tilray (TLRY), and aphria (APHA) have come under intense Reddit scrutiny. Just yesterday, Tilray, a Canadian cannabis company, had its stock rise 36%. However, with the attention of WallStreetBets also comes volatility, and today the stock is plunging back down, now under 41% of where it opened.
And attention already seems to be waning, with many on the subreddit eyeing Bumble as their next victim. Hopefully, this will leave the cannabis sector to itself and back to normalizing, where it’s incremental yet steady climb will continue throughout the year.

South Dakota Judge strikes down voter-approved weed legalization

In a small hurdle on the way to legalization, a prickly South Dakotan Judge overruled the voters of the state due to a little technicality.
In November, South Dakota voted in favor of legal marijuana, along with Montana, Arizona, and New Jersey (although New Jersey is also having some trouble enacting on this as well).
But with progressive change comes rigid resistance, and Judge Christina Klinger sided with a superintendent of the State Highway Patrol who brought up a case against the amendment. The pro-legalization activists “fail[ed] to submit Amendment A through the proper constitutional process,” according to Judge Klinger.
Apparently in the state, constitution amendments may only concern one subject at a time, and this legalization amendment includes both hemp and marijuana. It’s a small error and something easily fixed, so the technical hurdles brought forth by the anti-legalization side in the state will be no match for time.
Medicinal marijuana, which was also approved by voters, was not affected by this ruling.
Read full story at Vice.

Legal Marijuana more popular than higher minimum wage

In a graph that says it all, we are shown just how popular the path to legalized marijuana truly is.
A poll by Emerson College Polling shows support for legalization at 61%, with other popular topics like a $15 minimum wage (54%) and a pathway to citizenship (55%) trailing.

The poll took place between February 2nd and 3rd, polling 1,429 adults. It also shows President Biden’s support at 49%, above Trump’s around the same time (his was 44% in February 2017, according to NBC News).

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