In this week’s cannabis news round-up, learn about Luxembourg’s recent legalization of adult-use cannabis, Arizona’s record-breaking sales, Oklahoma’s oversupply of medical marijuana, and the Hollywood debut of “American Pot Story: Oaksterdam.”
Luxembourg Passes Law Allowing Personal Use of Cannabis
Luxembourg is now the second European Union country to legalize the possession and cultivation of cannabis for personal use. The new law, which was approved with a vote of 38 to 22, allows adults to possess up to three grams of cannabis and grow up to four plants for personal use.
While personal use is now legal, public possession, consumption, transportation, or purchase of cannabis is still prohibited. Penalties for violating these restrictions have been reduced, with fines ranging from €25 to €500 for quantities up to three grams. Possession exceeding three grams may result in criminal proceedings lasting from eight days to six months, along with fines ranging from €251 to €2,500.
MP Josée Lorsché, a member of the Green Party and the Judiciary Committee, stated that the next phase of cannabis reform in Luxembourg will focus on developing regulated systems for cannabis production and sales, which will be managed by the government.
Luxembourg decriminalized cannabis in 2001 and legalized medical cannabis in 2018.
Arizona: Adult Use Sales Surpass $100 Million
Recent data reveals that adult-use cannabis sales in Arizona exceeded $100 million in March, marking the first time this milestone has been reached since sales began in 2021. Meanwhile, the medical cannabis market has remained relatively stable around $30 million per month.
The market has shown significant growth, with reported totals surpassing the medical market in two of the past three months. In April, recreational sales reached nearly $86.5 million, while March sales fell just short of $101 million. This is the first time the recreational market has reached the nine-figure mark since its launch in January 2021.
Previously, combined medical and recreational sales surpassed $100 million in March 2021, with medical sales slightly exceeding $73 million and recreational sales reaching $59 million. Monthly cannabis sales have consistently exceeded $100 million since then, but this is the first time that one market segment has achieved this milestone individually.
From December 2022 to February 2023, adult-use sales amounted to $93.4 million, $91.3 million, and $84.5 million, respectively. On the other hand, medical sales have experienced a consistent decline since reaching a peak of $73.3 million in April 2021, compared to $30.3 million in April 2023.
Report Highlights Excessive Supply of Medical Marijuana in Oklahoma
A recent study conducted by the Oklahoma Medical Marijuana Authority (OMMA) has revealed that the state’s medical cannabis market has an oversupply that is at least 32 times higher than patient demand.
The report, based on surveys with over 1,300 cannabis consumers in Oklahoma, confirms suspicions of a significant oversupply issue due to rapid market growth, limited regulations, and the presence of unlicensed operators.
To address the oversupply problem, regulators and lawmakers have implemented measures such as extending the moratorium on issuing new medical cannabis business licenses until August 1, 2026. Law enforcement has also shut down numerous illegal grow operations across the state.
As of the latest OMMA statistics, Oklahoma has 6,563 registered growers, a decrease of over 500 since January. By the end of May, the number of registered medical patients was approximately 356,000.
American Pot Story: Oaksterdam Premieres in Hollywood
The acclaimed documentary American Pot Story: Oaksterdam made its Hollywood debut on June 29 at the historic TCL Chinese Theatre during the Dances With Films (DWF: LA) Festival.
Tickets for the screening sold out quickly due to high demand, resulting in a move to a larger theater within the complex to accommodate more attendees.
Directed by renowned filmmakers Dan Katzir and Ravit Markus, American Pot Story: Oaksterdam tells the untold story of the Oakland-based underdogs who risked everything to ignite a global revolution in cannabis policy.
Katzir and Markus spent a decade with OU Founder Richard Lee and Executive Chancellor Dale Sky Jones during their campaign to get California’s Prop 19, a measure to legalize cannabis, on the California ballot.
FAQs
1. Which country recently legalized cannabis?
Luxembourg is the most recent country to legalize cannabis for personal use.
2. What are the limitations on personal use of cannabis in Luxembourg?
Adults in Luxembourg are allowed to possess up to three grams of cannabis and grow up to four plants for personal use.
3. Is public consumption of cannabis allowed in Luxembourg?
No, public possession, consumption, transportation, or purchase of cannabis is still prohibited in Luxembourg.
4. How much did adult-use cannabis sales reach in Arizona?
Adult-use cannabis sales in Arizona exceeded $100 million in March, the first time this milestone has been reached since sales began.
5. What is the supply-demand situation of medical marijuana in Oklahoma?
Oklahoma’s medical marijuana market has an oversupply that is at least 32 times higher than patient demand, according to a recent study.
6. What is “American Pot Story: Oaksterdam” about?
“American Pot Story: Oaksterdam” is a documentary that tells the untold story of pioneers in Oakland who pushed for cannabis legalization.
