Jul 142014

420RADIO News for 2014-07-14 (Monday)

Seattle’s first legal pot shop is closed… temporarily.  Cannabis City had to close on Friday after running out of stock in just three days since Washington became the second U.S. state to allow pot sales to adults.  We reported live when Cannabis City opened in Seattle on Tuesday with at least 10 pounds of marijuana for sale, and by close of business Thursday it was all gone. A message on the store’s phone line said it would re-open on July 21.  There were widespread concerns that shortages of pot would afflict retailers this week after the state issued its first 25 licenses to outlets, under a heavily regulated and taxed system approved by voters in November 2012.  Despite the few outlets, purchase limits, and exorbitant prices, analysts estimate the state pulled in almost $150,000 in tax revenue.

Missouri Gov. Jay Nixon has finally signed the CBD-Only legislation passed by the Missouri legislature last month.  The Show Me State is now the eleventh state this year to approve the use of cannabidiol, a non-psychoactive constituent of cannabis, to treat intractable epilepsy.  However, unlike CBD-Only laws in Utah and other states, Missouri will be licensing private production facilities and dispensaries to produce and distribute the CBD oil, which must contain at least 5% CBD and no more than 0.3% THC, a ratio of 16 2/3 to 1.  Only patients with intractable epilepsy, defined as epilepsy unresponsive to three or more treatment options, will qualify to use the CBD oil under state law.