Insights
Delaware Receives Over 1,200 Cannabis Business License Applications Ahead of Market Launch
LOS ANGELES- Delaware officials have received 1,269 applications for cannabis business licenses, significantly surpassing expectations, as the state prepares to launch its adult-use cannabis market. The Office of the Marijuana Commissioner (OMC) opened the application window from August 19 to September 30, collecting approximately $4.1 million in fees. The high demand has prompted the state ...
Missouri Health Department Requests $877K to Enforce Hemp Product Ban
LOS ANGELES- The Missouri Department of Health and Senior Services (DHSS) has requested $877,000 to fund the enforcement of Gov. Mike Parson’s ban on intoxicating hemp products. The request is part of a preliminary budget for the upcoming fiscal year and would be available if approved by lawmakers in the state's budget by May 2024. ...
Opinion: The Spectacular Fall From Grace of California Cannabis
LOS ANGELES-California cannabis’ fall from grace has been nothing short of spectacular. High taxes and fees, local bans, contaminated products making it to market, and misdemeanor penalties for commercial-scale unlicensed grows have hurt the regulated marketplace and emboldened an increasingly organized underground. Far from the idyllic personification of mom-and-pop growers bucking the system to provide ...
Trulieve Files Defamation Lawsuit Against Florida GOP Over Cannabis Legalization Ads
LOS ANGELES- Trulieve, Florida's largest medical cannabis operator, filed a defamation lawsuit against the Republican Party of Florida on Wednesday, accusing the party of spreading misleading advertisements about Amendment 3. The amendment, which will appear on the ballot in November, seeks to legalize cannabis for adults aged 21 and older. The lawsuit claims that a ...
New York Cannabis Market Report Highlights Progress and Challenges
LOS ANGELES- New York state officials released a comprehensive report this week, reviewing the progress made in the three years since the state's cannabis legalization law was signed by then-Governor Andrew Cuomo in 2021. The Office of Cannabis Management (OCM) and the Cannabis Control Board (CCB) outlined the development of the legal cannabis market, emphasizing ...
How Advanced Nutrients is Unlocking Profit Potential for Cultivators
LOS ANGELES — In the competitive world of cannabis cultivation, plant health has become synonymous with profitability. As the industry matures and consumer expectations rise, the pressure on cultivators to consistently produce high-quality cannabis has never been greater. At the heart of this challenge lies a critical but often overlooked factor: plant stress. Early Nutrient ...
Arizona Court Rules THC Metabolites Alone Cannot Justify License Suspension
LOS ANGELES- The Arizona Court of Appeals has ruled that the presence of THC metabolites in a driver’s bloodstream is not sufficient grounds for suspending their driver’s license unless the driver is shown to be impaired. This decision, made in the case of Aaron Kirsten, upholds provisions in the 2020 voter-approved cannabis legalization law, Proposition ...
Vermont Halts New Cannabis Retail Licenses
LOS ANGELES- Vermont's Cannabis Control Board has temporarily stopped accepting new retail cannabis license applications, citing concerns about market saturation in certain regions. The pause, which takes effect on October 25, comes after issuing just over 90 retail licenses in less than two years. The Board aims to reassess market dynamics and will draft new ...
FBI Data: Over 200,000 Arrests for Cannabis Possession in 2023
LOS ANGELES- Despite growing momentum for cannabis legalization in the U.S., over 200,000 people were arrested for cannabis possession in 2023, according to new data from the FBI’s Uniform Crime Reporting system. The report, which covers 94% of the U.S. population, shows that 84% of the cannabis-related arrests were for possession alone. The data also ...
Harris’s Comments Over Cannabis Reform in the 2024 Presidential Race
LOS ANGELES- Harris's comments come amid a broader debate over cannabis reform in the 2024 presidential race. While Democratic vice-presidential nominee Tim Walz has suggested that cannabis legalization should be handled by individual states, Harris's stance signals a push for federal-level reform. Walz has emphasized the need for incremental steps, such as allowing veterans access ...
Los Angeles County Targets Unlicensed Cannabis Dispensaries with “Deplatforming” Motion
LOS ANGELES- Los Angeles County has approved a new initiative aimed at reducing the visibility of unlicensed cannabis dispensaries on major online platforms such as Google and Yelp. The motion, introduced by Supervisor Lindsey Horvath and passed by the Board of Supervisors, seeks to address the ongoing issues posed by illegal cannabis operations in the ...
Colorado’s Cannabis Market Faces Decline Amid National Expansion
LOS ANGELES- Colorado, once a leader in the legal cannabis market, is now grappling with declining sales and tax revenues. A report from the state's Legislative Council Staff attributes this downturn to market saturation, oversupply, and the expansion of cannabis legalization in other states. The state’s cannabis market has contracted by 17% among licensed growers, ...
Allegations of Predatory Contracts Surface in Missouri’s Social Equity Cannabis Program
LOS ANGELES- Missouri’s social equity cannabis licensing program faces scrutiny amid allegations of predatory investor contracts. Designed to benefit disadvantaged individuals, the program has seen reports of investors using deceptive agreements to gain control of licenses meant for marginalized groups. Destiny Brown, one of 16 winners of a microbusiness dispensary license, claims she unknowingly signed ...
Georgia Pharmacy Defies Federal Ban, Sells Low-THC Cannabis Products
LOS ANGELES- A licensed pharmacy in Augusta, Georgia, has begun selling low-THC cannabis products, directly challenging federal regulations enforced by the U.S. Drug Enforcement Administration (DEA). Living Well Pharmacy, owned by Vic Johnson, is one of the 40 pharmacies approved under Georgia's 2019 medical marijuana law to dispense cannabis with a THC content of 5% ...
Critical Factors for Optimizing the Employee Lifecycle in Cannabis Businesses
LOS ANGELES — The cannabis industry is rapidly growing, fueled by increasing legalization and broader societal acceptance. With this growth comes a unique set of challenges, especially in the realm of human resources. For cannabis businesses, managing the employee lifecycle—from hiring to retirement—requires not only adherence to complex regulations when it comes to their employees, ...
South Carolina AG Confirms Legality of Hemp-Derived THC Beverages
LOS ANGELES- South Carolina Solicitor General Robert D. Cook issued a legal opinion on Sept. 16, affirming that nonalcoholic beverages containing hemp-derived delta-9 THC are legal under the 2018 Farm Bill, provided they contain no more than 0.3% THC by dry weight. The opinion was in response to a request from South Carolina House Speaker ...
The High Stakes of Cutting Corners in Regulatory Employee Compliance
LOS ANGELES — In the cannabis industry, regulatory compliance is not a mere formality, but it’s a vital safeguard against financial losses, legal challenges, and operational disruptions. An often overlooked yet incredibly high-stakes area of cannabis business operations is regulatory employee compliance management. While compliance is notoriously complex for cannabis businesses, failing to stay in ...
COMPASS Pathways Receives Analyst Ratings
LOS ANGELES- COMPASS Pathways, a company specializing in mental health treatments, has garnered significant attention in recent market reports due to favorable analyst ratings and its stock performance. Several brokerages have maintained a consensus "Buy" rating on COMPASS Pathways, with price targets ranging from $23.00 to $47.40. Six research analysts have recently reiterated their "buy" ...
High Tide Inc. Reports Revenue and Profitability in Q3 2024
LOS ANGELES- High Tide Inc. reported strong financial results for the third fiscal quarter of 2024, with record revenue of $131.7 million, reflecting a 6% increase year-over-year and sequentially. This revenue growth underscores the company's success in expanding its market share and navigating the competitive cannabis sector. The company's gross profit reached $35.5 million, a ...
Embracing the Evolution: The Rise of Cannabis Consumption Lounges
LOS ANGELES — The cannabis industry is no stranger to innovation, and one of the most promising developments in recent years is the emergence of cannabis consumption lounges. These venues are revolutionizing the way consumers interact with cannabis, offering a safe, social, and sophisticated environment for enthusiasts to enjoy their products. The cannabis industry in ...
Nixon’s Secret Recordings: A Shift in Private Views on Cannabis
LOS ANGELES- Recently uncovered White House recordings from 1973 reveal that President Richard Nixon privately acknowledged that cannabis was "not particularly dangerous," a stance at odds with his administration's aggressive drug policies. The recordings, discovered by drug reform advocate Kurtis Hanna while reviewing the Nixon Library archives, show a more nuanced perspective on cannabis than ...
California Governor Proposes Emergency Ban on THC in Hemp Products
LOS ANGELES- California Governor Gavin Newsom announced emergency regulations on Friday that would prohibit the sale of hemp products containing detectable levels of THC, the psychoactive compound in cannabis. The move aims to address concerns over the availability of intoxicating hemp products, especially those accessible to minors. Hemp products are currently sold outside of regulated ...
Medical Cannabis in Germany: A Gateway for Investment and Innovation
The investment climate in Germany's medical cannabis industry is poised for significant expansion, driven by the global cannabis legalization movement, ongoing regulatory changes, and mounting community and market demand. As the country embraces a more liberal approach to cannabis, it is becoming an increasingly appealing destination for investors and businesses in the medical cannabis sector. ...
Cannabis Sector Volatility Deepens After DEA Rescheduling Delay
LOS ANGELES- The cannabis industry faced heightened volatility as the MSOS ETF (NYSE: MSOS), which tracks U.S. cannabis companies, dropped by 15.24% following the DEA’s decision to delay rescheduling cannabis until December 2. The market response reflects growing uncertainty within the sector, as investors had anticipated regulatory clarity that could unlock further growth opportunities for ...
Trump Weighs In on Florida Cannabis Legalization Ballot Measure
LOS ANGELES- Former President Donald Trump recently shared his thoughts on Florida's Amendment 3, a ballot measure that would legalize cannabis for adults 21 and over. In a post on Truth Social, Trump signaled tentative support for the initiative, marking his first public stance on cannabis legislation during this election cycle. Amendment 3, backed by ...
