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Psychedelic Surge, Herer Brands’ Legal Drama, & Hulk Hogan’s Cannabis Line

A survey illustrates psychedelics’ rapid rise, Herer Brands sues Daniel Herer, and Hulkamania comes to cannabis.

Let’s dive into this week’s canna-news.

Psychedelic Use Reaches Record High

A new national survey conducted by Monitoring The Future found that psychedelic use is at an all-time high amongst U.S. adults.

Conducted in 2022, the survey included approximately 28,500 participants. It found that 8% of adults aged 19-30 reported using hallucinogens within the year. In this report, hallucinogens refer to substances such as LSD, MDMA, mescaline, peyote, PCP, shrooms, or psilocybin. Individuals aged 35-50 reported a smaller 4% usage rate over the same time period — up from just 1% in 2022.

The survey’s findings highlight psychedelics’ quick rise in recent years. Five years ago, only 5% of adults under 30 reported using these substances. Ten years ago, that figure was only 3%.

Besides psychedelics, the survey also looked at the state of cannabis, vaping, and alcohol use. Cannabis consumption hit record highs across all age groups. Cigarette use declined while nicotine vaping increased — with 24% of young adults using a nicotine vape device in the last year. Lastly, the survey found that while alcohol use declined among young adults, it increased in those aged 35 to 50.

Which survey finding surprised you the most? Let us know in the comments!

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Herer’s Hemp Kingdom Crashing Down

Daniel Herer, son of legendary cannabis advocate Jack Herer, is entangled in a messy lawsuit with his former business partner. At the center of it all is the allegation that Daniel used his father’s death and fame to promote himself. Here are the scintillating details.

The lawsuit was brought forward by Herer Brands Inc., cofounded by Daniel Herer and his business partner Dennis D’Alessio back in 2002. In it, Herer Brands alleges that Daniel used the goodwill from his father’s death in 2010 to pursue investors. Moreover, it alleges that Daniel then misrepresented his company’s business prospects and the value of the “Jack Herer asset” in a meeting with HBI Investor Group.

HBI Investor Group discovered the inconsistencies while conducting an investigation into Daniel’s assets. The investigation was part of a mandatory 90-day due diligence period after Daniel signed Herer Brands Inc.’s name and trademark over to HBI. The investment group is seeking damages, and to prevent Daniel from competing against or disparaging the firm.

In response to the lawsuit, Daniel has filed his own against D’Alessio. Daniel claims that D’Alessio and HBI are illegally using the Herer brand and trademarks because D’Alessio and HBI never paid the $1,500,000 base capital investment; Daniel states that the intellectual property was never transferred.

Which side do you think will win the court case and the Herer Brand? Let us know in the comments!

Hulk Hogan Talks Cannabis, Launches Product Line

WWE Hall of Fame Hulk Hogan is making his way into the cannabis industry. With the move, Hogan joins wrestler Rick Flair and boxer Mike Tyson as combat sports figures who have made the jump.

Hogan recently discussed his personal journey with CBD and THC in an interview with TMZ. In it, Hogan shared how cannabis has helped him manage the pain and inflammation leftover from his wrestling days. Hogan also shared that cannabis has helped him transition away from prescription painkillers. Doing so has improved the retired wrestler’s overall health and sleep quality. Now, Hogan is looking to bring cannabis healing properties to the masses.

Hogan is teaming up with Carma HoldCo to help him launch his cannabis line. He thinks his line will be a big hit for those looking for cannabis to help them with everything from sleep to fitness and energy.

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