Case Studies
Massachusetts Opens New Round of Social Equity Applications for Cannabis
BOSTON – The Massachusetts Cannabis Control Commission will begin accepting ...
Virginia Lawmakers Enact Plan for Legal Cannabis Sales
RICHMOND – The Virginia Senate and House of Delegates gave ...
Tilray Acquires HelloMD to Build Out Canadian Medical Cannabis Network
NEW YORK – Tilray Brands Inc. has agreed to acquire ...
Safe Harbor Targets Retirement Gap in Cannabis Workforce
DENVER – Safe Harbor Financial is extending its reach deeper into workforce benefits, introducing a pooled employer 401(k) plan designed for Cannabis operators that have long struggled to access conventional retirement services. The new offering, ...
AtaiBeckley Reports Expanded Phase 2a Data for EMP-01 in Social Anxiety Disorder
NEW YORK – AtaiBeckley Inc., the clinical-stage biopharmaceutical firm born from the November merger of atai Life Sciences and Beckley Psytech, released additional results from its exploratory Phase 2a trial of EMP-01, an oral formulation ...
Industrial Hemp Market to Exceed $7B by 2031, Driven by Construction and Wellness
LOS ANGELES – The global industrial hemp market is on track to nearly double in value over the next five years, according to the latest report by Mordor Intelligence that projects the market to grow ...
Hawaii Moves Forward on Psychedelic Therapy Research Framework
HONOLULU – The Hawaii Senate approved legislation that would set up a state task force to examine ways to bring breakthrough mental health treatments, like psilocybin- and MDMA-assisted therapies, into clinical and policy discussions. Senate ...
Texas Restricts Sales of Smokable Hemp Products Effective March 31
AUSTIN – Texas retailers must pull smokable hemp products from shelves by the end of the month under final rules adopted by the Department of State Health Services (DSHS). The regulations, which take effect March ...
Illicit Cannabis Activity Drops in States with Adult-Use Legalization, CU Study Finds
NEW YORK – A new analysis from Columbia University’s Mailman School of Public Health shows that states moving beyond medical Cannabis legalization to allow recreational use saw a sharp decline in law enforcement seizures of ...
Kentucky House Approves Unified Regulations for Alcohol and THC-Infused Products
FRANKFORT – The Kentucky House of Representatives has approved House Bill 9, a comprehensive measure that overhauls the state's taxation and regulatory framework for alcohol, Cannabis-infused beverages, hemp-derived products, and related intoxicating substances. The bill ...
Safe Harbor Targets Retirement Gap in Cannabis Workforce
DENVER – Safe Harbor Financial is extending its reach deeper into workforce benefits, introducing a pooled employer 401(k) plan designed for Cannabis operators that have long struggled to access conventional retirement services. The new offering, ...
AtaiBeckley Reports Expanded Phase 2a Data for EMP-01 in Social Anxiety Disorder
NEW YORK – AtaiBeckley Inc., the clinical-stage biopharmaceutical firm born from the November merger of atai Life Sciences and Beckley Psytech, released additional results from its exploratory Phase 2a trial of EMP-01, an oral formulation ...
Industrial Hemp Market to Exceed $7B by 2031, Driven by Construction and Wellness
LOS ANGELES – The global industrial hemp market is on track to nearly double in value over the next five years, according to the latest report by Mordor Intelligence that projects the market to grow ...
FDA Warns Against Unsupervised Use of Ketamine for Psychiatric Disorders
WASHINGTON, D.C. — The U.S. Food and Drug Administration (FDA) has raised concerns over the unsupervised and unauthorized use of compounded ketamine and ketamine-based drugs for treating psychiatric conditions. In a recent alert, the FDA ...
Connecticut’s Cannabis Sales Soar, Surpassing $15 Million Mark for Adult-use Alone
HARTFORD, CT — Connecticut's blossoming cannabis market has reached with combined sales of adult-use and medical marijuana crossing $25 million in September 2023, according to the state's Department of Consumer Protection (DCP). This surge in ...
Colorado Cannabis Sales Surpass $15 Billion, But Recent Trends Raise Concerns
DENVER — August witnessed Colorado's recreational cannabis market and its established medical marijuana industry reach a significant landmark, achieving over $15 billion in cumulative sales since the inauguration of the adult-use market in January 2014. ...
U.S. Cannabis Banking Reform Faces New Hurdles Amid Political Drama
WASHINGTON D.C. — Recent optimism surrounding potential U.S. cannabis banking reform has encountered obstacles, with unrelated political issues clouding prospects for legislative passage. While there is hope for the U.S. Senate to pass the SAFER ...
Canada’s Cannabis Industry Faces Economic Challenges, Says Health Canada Report
OTTAWA — A recent report by the Canadian government suggests the nation's legal cannabis industry is encountering significant economic challenges, shedding light on the realities faced by businesses after the 2018 legalization. The report, titled ...
ANALYSIS: Cannabis Payments: Navigating a Landscape of Opportunities and Pitfalls
NEW YORK — Cannabis payment systems have always been rife with controversy and uncertainty. As we explore the landscape, the focus is primarily on services purporting to have a compliant mechanism to accept credit cards. ...
FSD Pharma Wins Legal Battle Against Former CEO; Ventures into Dietary Supplements
NEW YORK — In a significant legal triumph, FSD Pharma Inc. a Canadian biopharmaceutical firm, received a favorable ruling from the Ontario Superior Court of Justice on Thursday against its former chief executive, Dr. ...
Atai Life Sciences Bolsters Investment in IntelGenx Technologies
NEW YORK — Atai Life Sciences AG's (Nasdaq: ATAI) confidence in IntelGenx Technologies Corp. (OTC: IGXT) seems unwavering as its investments in the pharmaceutical firm grow. The robust belief in IntelGenx's medical technology continues to ...
New Mexico’s Cannabis Microbusiness License Fees May Rise
NEW YORK — Cannabis microbusinesses in New Mexico may soon face a hike in their annual license fees, should proposed rule changes be ratified after a public comment period. A slated policy revision by the ...
New Jersey Boosts Cannabis Industry with $12 Million in Equity Grants
LOS ANGELES — In a significant push to bolster its nascent cannabis sector, the New Jersey Economic Development Authority (NJEDA) announced a $12 million grant award to 48 marijuana enterprises as part of the state's ...
California Governor Vetoed Cannabis Cafe Bill, Citing Smoke-Free Concerns
LOS ANGELES — Governor Gavin Newsom has placed a halt on the proposed move to introduce Amsterdam-style cannabis cafes in California. Despite significant bipartisan backing, Assembly Bill 374, the bill that could have potentially transformed ...
Alaska Imposes New Restrictions on Hemp Goods Industry
LOS ANGELES— Alaska has intensified its stance on the rapidly expanding national hemp goods sector, especially targeting hemp-derived products that some locals colloquially term "diet weed." Lt. Gov. Nancy Dahlstrom inked new regulations into ...
Optimi Gains Momentum with Health Canada’s Approval for Psychedelics Supply
Toronto — Optimi, a leading Canadian psychedelics drug research and formulation enterprise, announced a pivotal achievement today. Health Canada has sanctioned an amendment to the company's Dealer's Licence, setting the stage for Optimi to commence ...
Pennsylvania Legislature Mulls Over Tax Reform Benefiting Medical Cannabis Businesses
The Pennsylvania legislature has made strides in advancing a comprehensive tax reform measure, which notably addresses a crucial obstacle faced by state-sanctioned medical cannabis entities: the IRS's 280E code. This code presently restricts these businesses ...
New York Opens Doors for Medical Cannabis Operators to Dive into Adult-Use Retail Market
NEW YORK- In a significant move on Tuesday, New York regulators gave the nod for the state's medical marijuana entities to file applications for adult-use retail licenses. This opens the arena for multi-state operators (MSOs) ...
Lucy Scientific Anticipates Sharp Losses Amidst Regulatory and Operational Costs
LOS ANGELES- Lucy Scientific Discovery Inc. has been in the spotlight, not for its recent acquisitions but for missing its annual report filing deadline with the U.S. Securities and Exchange Commission (SEC). While the company ...
Georgia Pharmacies to Offer Low-THC Cannabis Oil, Expanding Access for Medical Patients
ATLANTA- In a pioneering move, Georgia has become the first state in the U.S. to greenlight the sale of medical cannabis at independent pharmacies, with the objective of simplifying access for its registered medical cannabis ...
PharmaCielo Seeks Financial Stabilization Amid Growing Losses
LOS ANGELES- In a bid to counter increasing financial setbacks, PharmaCielo Ltd., the parent company of the Colombian cannabis cultivator PharmaCielo Colombia Holdings S.A.S., has raised $3.3 million in a recent investment round. Through the ...
Gavin Newsom’s Veto of Cannabis Cafes and Psychedelic Medicine: A Balancing Act
LOS ANGELES-California Governor Gavin Newsom's recent actions on cannabis-related bills have left both proponents of cannabis reform and the cannabis industry with mixed feelings. While he signed several bills into law that will bring significant ...
Clearmind Medicine Partners with Johns Hopkins for Psychedelic-Derived Therapeutic Trials
TEL AVIV— Clearmind Medicine Inc. a biotech firm the charge in discovering and developing innovative psychedelic-derived treatments for significant health concerns, revealed a new collaboration today. The company has forged a Clinical Trial Agreement with ...
Bank of Korea Initiates Central Bank Digital Currency Pilot Program
SEOUL — In a significant move to digitize its currency infrastructure, The Bank of Korea (BOK), in collaboration with the Financial Services Commission (FSC) and the Financial Supervisory Service (FSS), is rolling out a pilot ...
The Cannabist Company Announces Partial Redemption of Senior Secured Notes
NEW YORK – The Cannabist Company Holdings Inc a major cultivator, manufacturer, and retailer of cannabis products in the U.S., has announced its intention to partially redeem its outstanding 13% senior secured notes due by ...
California’s Psychedelic Dilemma: Governor Newsom’s Tightrope Walk on SB58
LOS ANGELES— Six decades of advocacy for psychedelic legalization in California might finally culminate with the passage of SB58, a landmark bill proposing the decriminalization of certain natural psychedelics for therapeutic use. Having cleared the ...
Arizona’s Cannabis Social Equity Licenses: Intent Versus Outcome
PHOENIX — The State of Arizona's well-intentioned efforts to address historical disparities in the cannabis industry appear to be veering off course. A deep dive into the allocation of social equity licenses, designed to benefit ...
Canada’s Long-Awaited Cannabis Strategy Table Takes Shape
TORONTO — Nearly two years after its announcement, Canada's government-mandated cannabis "strategy table" is beginning to show signs of activity. The initiative, aimed at addressing core challenges faced by the nation's beleaguered cannabis industry, had ...
