Insights

LOS ANGELES-- the U.S. Food and Drug Administration (FDA) unveiled its Draft Guidance for conducting research on psychedelic drugs. The guidance encompasses substances such as psilocybin, LSD, and MDMA, reflecting the growing interest in exploring the therapeutic potential of these compounds. The FDA's guidance aligns with the established best practices required by other drug and ...

LOS ANGELES-- Curaleaf Holdings, Inc., a provider of cannabis products, has revealed its plans to initiate adult use cannabis sales at all four of its dispensaries in Maryland on July 1, coinciding with the state's official first day of legal adult use sales. To commemorate this momentous occasion, Curaleaf dispensaries in Montgomery Village, Frederick, Columbia, ...

LOS ANGELES-- Maryland is gearing up for the launch of its state-legal recreational cannabis industry on Saturday, July 1, signaling a shift from its portrayal in HBO's The Wire to a regulated market for adult-use cannabis. Businesses in the state have been ramping up production to meet the anticipated surge in demand from both new ...

LOS ANGELES-- In a close vote of 47-43, Colombian lawmakers fell short of passing a bill that would have legalized adult-use cannabis sales nationwide. Although the measure received a majority of support in the chamber, it failed to meet the constitutional requirement for a minimum of 54 senators in favor of the bill. This outcome ...

NEW YORK-- A coalition comprising anti-marijuana activists and nonprofits has recently taken legal action against the state of New York, aiming to reinstate cannabis prohibition and roll back the legalization law enacted in 2021. The group, led by organizations such as the Cannabis Impact Prevention Coalition and Cannabis Industry Victims Seeking Justice, filed the lawsuit ...

LOS ANGELES-- The U.S. Food and Drug Administration (FDA) has taken a groundbreaking step in the field of psychedelic research by releasing a draft guidance document aimed at providing recommendations to researchers exploring the potential of these substances for medical treatments. This development marks a significant milestone, as it is the first FDA draft guidance ...

LOS ANGELES-- Canada House Cannabis Group Inc. announced today the filing of a restatement of its unaudited condensed consolidated financial statements for the six months ended January 31, 2023, and 2022. The restatement, referred to as the "Restated Financial Statements," corrects accounting errors identified subsequent to the issuance of the original unaudited condensed consolidated financial ...

LOS ANGELES-- In a much-needed respite for the U.S. cannabis industry, a growing number of states—20 in total—have passed legislation to exempt businesses from the burdensome Section 280E of the federal tax code. This move allows cannabis companies to deduct business expenses from their state income taxes, even though they remain illegal at the federal ...

LOS ANGELES-- Last fall, President Joe Biden made headlines when he issued pardons for federal offenders charged and convicted of cannabis possession. However, despite this gesture, cannabis still remains federally illegal, classified as a Schedule I controlled substance. Yet, what set Biden's actions apart was his directive for the Secretary of Health and Human Services ...

LOS ANGELES-- Recent study conducted by the Lambert Initiative for Cannabinoid Therapeutics at the University of Sydney has shed light on the growing utilization of medicinal cannabis (MC) prescriptions for the treatment of psychiatric disorders in Australia. The study, which analyzed data from November 1, 2016, to September 30, 2022, sourced from the Therapeutic Goods ...

LOS ANGELES-- RIV Capital remains optimistic about its position in the New York cannabis market, as highlighted during the company's fourth-quarter and fiscal year-end 2023 earnings call. Interim CEO Mike Totzke expressed confidence in RIV's New York-based cannabis business, particularly with the completion of the expansion of Etain's Chestertown-based cultivation and production infrastructure. This expansion ...

OKLAHOMA -- In a recent development, Republican Governor Kevin Stitt of Oklahoma has vetoed Senate Bill 437, a piece of legislation that aimed to impose new rules limiting patients' access to medical cannabis. The proposed changes included requirements such as physicians participating in a state registry, younger patients obtaining recommendations from multiple physicians, with one ...

NEW YORK-- The New York Cannabis Control Board recently convened a meeting filled with action and key decisions, including the approval of 36 new retail permits. However, the board faced challenges related to the slow pace of retail openings, the resignation of a board member, and the delay in discussing proposals for cannabis farmers markets. ...

LOS ANGELES-- According to a recent report released by the New Mexico Department of Workforce Solutions, the cannabis industry in the state employed more than 4,600 workers by the end of last year, with a significant majority of them finding employment in dispensaries. The report sheds light on the sector's employment distribution, wage trends, and ...

LOS ANGELES-- The legal cannabis market in Georgia is poised to expand significantly as the state Board of Pharmacy recently introduced regulations enabling independent pharmacies to distribute cannabis oil. This development, following the legalization of marijuana cultivation in 2019, signifies a notable policy shift in Georgia. According to a report by Capitol Beat, the legislation ...

NEW YORK- In a significant development for New York's cannabis industry, lawmakers have approved a bill that permits licensed cannabis farmers to sell their products to tribal nations with established cannabis markets. This move comes amidst the state's sluggish retail rollout, while dispensaries have been operating on tribal land throughout New York. Although approximately 300 ...

  LOS ANGELES-- Nevada lawmakers have granted final approval to a comprehensive cannabis reform bill that introduces several significant changes to the state's cannabis industry. Senate Bill 277, as reported by Forbes, encompasses the following key provisions: Increased Purchase Limits: The bill raises the daily purchase limits for recreational consumers from one ounce to 2.5 ...

SAN FRANCISCO-- In a unanimous decision, the San Francisco Board of Supervisors voted to impose a three-year ban on new cannabis businesses, aiming to address concerns of oversaturation and competition from the illicit market. The moratorium, which will not impact existing applicants or operators, was introduced by Supervisor Ahsha Safaí and is seen as a ...

LOS ANGELES-- In an effort to address the issue of unpaid invoices and bring financial stability to the supply chain, a group of California distributors and brands, representing over half of the state's wholesale B2B cannabis market, has engaged the services of the Credit Management Association (CMA). The CMA, a nonprofit organization based in suburban ...

WASHINGTON— In a bid to bolster cannabis research and pave the way for scientific advancements, a House bill was introduced on Tuesday with the aim of promoting cannabis research at universities while dismantling existing federal barriers. The Higher Education Marijuana Research Act, championed by Representative Dina Titus (D-NV) and Representative Joe Neguse (D-CO), seeks to ...

LOS ANGELES -The rapidly growing cannabis industry presents exciting prospects for investors seeking new avenues of growth. However, to capitalize on these opportunities, it's crucial to approach the market with a strategic mindset and an understanding of the unique dynamics at play. In this article, we will provide you with ten valuable tips to consider ...

NEW YORK-- New York Governor Kathy Hochul recently signed a bill that extends the licenses of cannabis cultivators and processors in an effort to expedite the establishment of the state's adult-use market. As state regulators have yet to issue permanent licenses, the current permits are still considered provisional. Under the new law, the licenses will ...

LOS ANGELES-- Canopy Growth Corp., a Canadian cannabis company, is set to be removed from the S&P/TSX Composite Index, a key market benchmark similar to the S&P 500 in the United States. The decision, announced by S&P Dow Jones Indices on Friday, underscores the ongoing challenges faced by Canopy Growth. Inclusion in the S&P/TSX Composite ...

PHOENIX-- In an effort to revive Arizona's struggling medical cannabis market, lawmakers are pushing forward a bill aimed at reducing the cost of medical cannabis cards. Senate Bill 1466, which received approval from the state Senate in March, proposes to decrease the price of MMJ cards from $150 to $50 for the general public, as ...