WA & AZ’s Psilocybin Moves, Chicago Cubs’ CBD Partnership, and Maryland’s Rec. Market Rules

Washington and Arizona are embracing psilocybin, the Chicago Cubs announced a canna-tastic partnership, and Maryland is getting ready to jump-start its recreational market.

Let’s dive into this week’s cannanews.

Washington and Arizona Make Psilocybin Moves

Psilocybin legalization has been a hot topic in capitol buildings all over the U.S. Most recently, Arizona and Washington have both made progress on psilocybin-related legislation.

Last week, the Washington State House committee approved a psilocybin research bill with a 23-8 vote. The research bill establishes a task force and advisory board to study the viability of legalizing psilocybin in the state.

A different version of the bill was introduced earlier this year with the intention of broadly legalizing psilocybin. Unfortunately, the legalization statute was removed as some representatives questioned the safety of psilocybin therapies.

Meanwhile, in Arizona, legislators are proposing a bill that would allocate $30 million toward psilocybin research. If signed, Arizona would become the first state to conduct state-funded medical studies on the therapeutic use of mushrooms.

The bill has received support from medical professionals all over the state—like Dr. Sue Sisley, president of the Scottsdale Research Institute. Sisley emphasized the importance of the bill, saying, “…We know that there’s millions of people around the globe that are actively utilizing psilocybin mushrooms to treat a variety of their own ailments. So we just want to understand how these mushrooms are working or not working.”

Chicago Cubs Announce CBD Drink Partnership

The Chicago Cubs have made canna-history. The team recently announced its new partnership with CBD company MYND DRINKS. This marks the first time an MLB team has partnered with a CBD company.

MYND DRINKS is Chicago-based and makes sparkling CBD drinks that promote wellness and stress reduction. The CBD drink will be marketed and sold at Wrigley Field, home of the Chicago Cubs. As part of the partnership launch, the Cubs are releasing a guided meditation on YouTube narrated by Cubs radio play-by-play announcer Pat Hughes.

What do you think of the Cubs’ new partnership? Would you try MYND DRINKS CBD beverage at a baseball game? Let us know in the comments!

Maryland Outlines Recreational Market

Maryland is ramping up to get its recreational cannabis market off the ground. Late last week, Maryland’s General Assembly met to establish the legal framework of the new market.

Starting from July 1, 2023, individuals aged 21 and above who possess valid identification will have the opportunity to purchase recreational marijuana without legal repercussions. All recreational cannabis sales will come with a 9% tax rate—one of the lowest in the nation. The hope is that the low tax rate will keep the illicit market at bay. This is different from other legal states, where high cannabis taxes are used to raise money for various initiatives.

Beyond tax rates, Maryland also established regulations for licensing, taxation, and government oversight of the industry.