Insights

LOS ANGELES-- The state of Minnesota has experienced a significant increase in tax revenue following the legalization of cannabis-infused products such as gummies and beverages. A recent report from the state Department of Revenue, as highlighted by CBS News, has shown that nearly $600,000 was collected last month alone from the sales of these products. ...

LOS ANGELES-- In a significant policy move, Missouri's Department of Social Services has allowed foster parents in the state to legally possess and cultivate cannabis. The emergency rule, put in place last week, aligns the state's foster care system with Amendment 3, the mandate passed by Missouri voters in November 2022, which legalized and regulated ...

LOS ANGELES — Several Texas cities, in a progressive stride, are taking individual steps toward decriminalizing cannabis possession, a move seen as a response to the state Senate's reluctance to pass a House-endorsed bill centered on cannabis decriminalization, streamlined expungement, and medical cannabis provisions for chronic pain. Lubbock, a prominent city in northeast Texas, is ...

TRENTON, NJ — Governor Phil Murphy, in collaboration with Attorney General Matthew J. Platkin, recently unveiled an initiative committing $15 million to Community-Based Violence Intervention (CBVI) programs, with a portion of these funds stemming from New Jersey’s dedicated cannabis tax fund. The recent allocation demonstrates Governor Murphy’s consistent commitment to violence intervention, having previously channeled ...

LOS ANGELES — Missouri, in its latest bid to bolster the integrity of its burgeoning cannabis sector, has ushered in stringent rules to stymie the practice of "lab shopping"— a trend where cannabis producers take their products to multiple testing labs, eventually allying with the one offering the most favorable results. As reported by the ...

LOS ANGELES — South Dakota's medical cannabis program has issued nearly twice as many patient cards as initially projected, according to the state official responsible for overseeing the initiative. Jennifer Seale, the administrator for the program, reported to the state legislature on Monday that the South Dakota Department of Health has distributed around 11,500 cards ...

LOS ANGELES — An unfolding financial dispute between the small Maryland town of Hancock and the Florida-based cannabis giant, Trulieve Cannabis, highlights the intricate dynamics of municipal investments in the rapidly evolving cannabis industry. Dating back to 2015, Hancock agreed to permit Arizona's Harvest, a cannabis enterprise, to inaugurate a medical cannabis cultivation and processing ...

LOS ANGELES-- In a move that underscores the shifting landscape of mental health therapy, Tampa-based biopharmaceutical company Psilera announced on Wednesday that it has received a notice of allowance from the U.S. Patent and Trademark Office for its synthetic psychedelic compounds, crafted specifically for home-based mental health treatments. This crucial patent provides robust protections for ...

LOS ANGELES— The cannabis landscape in the U.S. is rapidly shifting, with each state crafting its narrative. From Maryland's remarkable entry to Michigan's booming market, Illinois's unique challenges, and Colorado's stellar tax earnings, the industry's trajectory offers an array of financial insights. In Maryland: A Strategic Start July witnessed Maryland's debut into the recreational cannabis ...

LOS ANGELES— As the broader Pacific Northwest embraces cannabis legalization, Idaho remains a notable holdout. But Kind Idaho, an advocacy group, is undeterred, seeking to introduce medical cannabis in the state. In Idaho, where no form of cannabis is legal, the group is tirelessly collecting signatures for their proposal to be included in next year's ...

LOS ANGELES — As Ohio inches closer to a potential shift in its stance on adult-use cannabis, significant opposition emerges from top state officials. Last week, Governor Mike DeWine (R) expressed his dissent, stating to the Governor’s Executive Workforce Board that the proposed reforms would “be a real mistake,” a sentiment echoed by WSYX reports. ...

LOS ANGELES-- Missouri's Auditor, Scott Fitzpatrick, has initiated a comprehensive investigation into the state's medical and adult-use cannabis programs. The probe, as reported by KCTV, aims to ensure that these programs are operating within legal parameters and maintaining transparency. The scope of the audit will span five years, starting from 2018 and culminating on June ...

AUSTIN-Cannabis and hemp, derived from the same plant, can be hard to tell apart by sight or smell. But their legal paths are quite different: hemp is legal, while cannabis is still illegal. In 2019, Texas passed a law that made hemp legal but kept cannabis illegal. This has caused confusion across the state. Some ...

LOS ANGELES — Florida's hemp industry, which was previously alarmed by a proposal to set limits on THC in hemp-derived products, may need to brace itself again. Lawmakers behind the shelved proposal indicated Wednesday they might reconsider the limits in the 2024 legislative session. Sen. Colleen Burton and Rep. Will Robinson, both Republicans, had hoped that ...

NEW YORK-- Scott Fitzpatrick, the Missouri State Auditor, has initiated a comprehensive investigation into the state’s adult-use and medical cannabis programs. This move aims to ensure the adherence of these programs to legal standards, KCTV reports. The audit will span a period of five years, from the inception of the medical cannabis program in 2018 ...

LOS ANGELES – A legislative proposal to legalize the possession and supervised use of specific psychedelics in California has advanced another step toward a final committee vote in the Assembly, positioning it closer to potentially reaching the governor’s desk. Senator Scott Wiener's measure was moved on Wednesday by the Assembly Appropriations Committee to its suspense ...

LOS ANGELES— Ohio might experience a significant influx in tax revenue from adult-use cannabis sales, estimated between $276.2 million to $403.6 million annually by the fifth year, should voters approve a prospective legalization measure this November. This analysis is according to an updated report from researchers at Ohio State University. Drawing parallels from neighboring Michigan, ...

LOS ANGELES-- atai Life Sciences (NASDAQ: ATAI), a pioneering biotech company, has reported encouraging results from its Phase 1 investigation into the subcutaneous administration of PCN-101 (R-ketamine), facilitated through its subsidiary, Perception Neuroscience. The trial's positive safety findings seem to pave the way for the continuation of the research. The study, characterized by its open-label ...

BALTIMORE – MyMD Pharmaceuticals, Inc. announced on Monday that the U.S. Food and Drug Administration (FDA) has accepted the company's Investigational New Drug (IND) Application to study the safety and effectiveness of the oral TNF-α inhibitor MYMD-1 in patients with active rheumatoid arthritis (RA). A Breakthrough in Rheumatoid Arthritis Treatment? MYMD-1, a next-generation inhibitor of ...

LOS ANGELES-- South Dakota's path to legalizing cannabis took a notable step forward, as the state's Attorney General Marty Jackley (R) has officially released a draft summary of an initiative to legalize the substance. The proposal is being advocated by South Dakotans for Better Marijuana Laws (SDBML), who are targeting placement on the November 2024 ...

NEW YORK — Mind Medicine Inc., known as MindMed, has secured a licensing agreement with Catalent to utilize its proprietary Zydis orally disintegrating tablet (ODT) technology for the development of a groundbreaking psychedelic-based anxiety treatment, MM-120, according to a company press release. MM-120 is a "pharmaceutically optimized form" of lysergide D-tartrate, or LSD, and is ...

LOS ANGELES- Governor Chris Sununu (R) of New Hampshire, a known opponent of adult-use cannabis legalization, signed a bill on Tuesday to create a commission to study the possibility of selling cannabis through state-owned shops. This approach would mark a distinctive break from other states where cannabis is sold through private retailers. A Study Commission ...

LOS ANGELES-- In a surprising turn of events, support for cannabis legalization in Pennsylvania has seen a decline for the first time in a decade. The 2023 Pennsylvania Health Survey, conducted by Muhlenberg College Public Health Program, revealed a 6% drop from the previous year, with support now at 50%. The recent survey found 38% ...

LOS ANGELES-- The American Psychedelic Practitioners Association (APPA) in collaboration with BrainFutures has published reportedly the first set of professional practice guidelines for psychedelic-assisted therapy in the United States. These guidelines come as the FDA's approval of psychedelic-assisted therapies seems imminent, signaling the need for standard practices within the burgeoning field. About the Guidelines The ...