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Colorado Marijuana Sales Surpass $1 Million On First Day: Shop Owners

Call it "Green Wednesday."

Pot shop owners in Colorado claim they made over $1 million in sales statewide on the first day of legalized recreational marijuana sales alone, according to Denver's 9News. Nationwide, the legalized pot industry is expected to bring in a reported $2.34 billion in 2014, including both medical and recreational sales.

Most of the 24 shops that opened Wednesday were in Denver. Owners in the city expressed concern about taking in large amount of cash, since federal banking regulations currently prohibit banks from working with the marijuana industry while the drug remains classified as illegal by the federal government.

“We all know this needs to be fixed because there is not one good reason why these businesses are not allowed to have banking accounts -- only bad reasons: security concerns and accountability concerns,” Mike Elliott, executive director of the trade association Medical Marijuana Industry Group, told KDVR.

A solution may soon be reached, but while the industry grapples with how to handle its cash, Colorado is banking on pot: with an eighth of an ounce currently selling between $35 and $70 after taxes, the state estimates that the retail marijuana industry will bring in $67 million in tax revenue.

The first $40 million generated by the state excise tax is dedicated to school construction, and the rest is slated for marijuana regulation.

Hemp (from Old English hænep) is a commonly used term for varieties of the Cannabis plant and its products, which include fiber, oil, and seed. In many countries regulatory limits for concentrations of psychoactive drug compounds (THC) in hemp encourage the use of strains of the plant which are bred for low tetrahydrocannabinol (THC) content or otherwise have the THC removed.^[1] Hemp is refined into products like hemp seed foods, hemp oil, wax, resin, rope, cloth, pulp, paper, and fuel.

Approximately 44% of the weight of hempseed is edible oils, containing about 80% essential fatty acids (EFAs); e.g., linoleic acid, omega-6 (LA, 55%), alpha-linolenic acid, omega-3 (ALA, 22%), in addition to gamma-linolenic acid, omega-6 (GLA, 1–4%) and stearidonic acid, omega-3 (SDA, 0–2%). Proteins (including edestin) are the other major component (33%). Hempseed's amino acid profile is close to "complete" when compared to more common sources of proteins such as meat, milk, eggs and soy.^[11] Hemp protein contains all 21 known amino acids, including the 9 essential ones^[12] adult bodies cannot produce. Proteins are considered complete when they contain all the essential amino acids in sufficient quantities and ratios to meet the body's needs. The proportions of linoleic acid and alpha-linolenic acid in one tablespoon (15 ml) per day of hemp oil easily provides human daily requirements for EFAs.

Hemp substitute milk
Japanese hemp seed seasoning

Swiss hemp beer uses

Typical nutritional analysis of hulled hemp seeds^[10]
Calories/100 g	567 kcal
Protein	30.6
Carbohydrate	10.9
Dietary fiber	6.0
Fat	47.2
Saturated fat	5.2
Palmitic 16:0	3.4
Stearic 18:0	1.5
Monounsaturated fat	5.8
Oleic 18:1 (Omega-9)	5.8
Polyunsaturated fat	36.2
Linoleic 18:2 (Omega-6)	27.6
Linolenic 18:3 (Omega-3)	8.7
Gamma-Linolenic 18:3 (Omega-6)

blossoms

Cannabis used medically has several well-documented beneficial effects.^[76] Among these are: the amelioration of nausea and vomiting, stimulation of hunger in chemotherapy and AIDS patients, lowered intraocular eye pressure, as well as general analgesic effects (pain reliever).^b[›] Less-confirmed individual studies also have been conducted indicating cannabis to be beneficial to a gamut of conditions running from multiple sclerosis to depression. Synthesized cannabinoids are also sold as prescription drugs, including Marinol (dronabinol in the United States and Germany) and Cesamet (nabilone in Canada, Mexico, the United States and the United Kingdom).^b[›]

Cannabis as illustrated in Köhler's Medicinal Plants book from 1897

Currently, the U.S. Food and Drug Administration (FDA) has not approved smoked cannabis for any condition or disease in the United States, largely because the FDA claims good quality scientific evidence for its use from U.S. studies is lacking.^[77] Others, for example American Society of Addiction Medicine, argue that there is no "Medical marijuana" because the plant parts in question fail to meet the standard requirements for approved medicines.^[78]
Eighteen states and the District of Columbia have legalized cannabis for medical use in state laws.^[79]^[80] The United States Supreme Court has ruled in United States v. Oakland Cannabis Buyers' Coop and Gonzales v. Raich that it is the federal government that has the right to regulate and criminalize cannabis, even for medical purposes and even if the state legalize it. Canada, Spain, The Netherlands, France,^[81] Italy, Czech Republic^[82] and Austria have legalized some form of cannabis or extract containing a low dose of THC for medicinal use.^[83] Recently, Uruguay has taken steps towards legalising and regulating the production and sale of the drug.
^[84]