Colorado Approves Bill that Seeks to Set Aside $10 Million for Medical Marijuana Research

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Colorado Approves Bill that Seeks to Set Aside $10 Million for Medical Marijuana ResearchColorado will now finance up to $10 million a research that seeks to investigate the efficacy of medical marijuana after Gov. John Hickenlooper gave his asset to a bill today.

The bill says that the study will help determine which medical ailments should be included to the list of health conditions that qualify a patient to use medical marijuana on top of the existing eight conditions. The proposal will also assist doctors to understand the side effects associated with the medical marijuana treatment. It will also probably permit the state to carry out clinical trials.

“SB 155 invests the dollars collected from medical marijuana fees into a meaningful effort to study the therapeutic and medical benefits of the drug,” Rep. Crisanta Duran (D), the co-sponsor of the bill, was quoted by The Huffington Post as saying. “Patients will benefit from this investment and Colorado will become a national leader in developing medical marijuana research.”

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Colorado will draw the funds to finance the research from its $10 million medical marijuana program fund.

“This bill is exciting because it gives researchers the opportunity to show why and how marijuana works, and to do research that the federal government refuses to conduct,” said Mike Elliott of Marijuana Industry Group.

Recent studies have shown that marijuana does have some medical benefits. It has been known to attack certain strains of malignant cancer, able to control the spread of AIDS/HIV and blood sugar as well as reduce suicide rates.

Early this year, the US federal government launched a pioneering research that seeks to investigate whether cannabis can be used to help military veterans to deal with post-traumatic stress disorder. So far, 10 states allow medical marijuana to be used to manage the symptoms of PTSD, which include depression, flashbacks and anxiety. Almost 30 percent of veterans who served in Afghanistan and Iraq suffer from PTSD. To register for a free 2-week subscription to ForexMinute Premium Plan, visit www.forexminute.com/newsletter.

To contact the reporter of this story; Jonathan Millet at john@forexminute.com