Insights

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 ...

BOSTON-- In a bid to expedite the establishment of cannabis consumption lounges, Massachusetts marijuana regulators have made the decision to cancel a long-planned pilot program for such establishments. The move comes as members of the Cannabis Control Commission deemed the original pilot program outdated and restrictive, opting instead for a more expansive approach, according to ...

LOS ANGELES- California's legal cannabis market continues to grapple with challenges, as indicated by the latest tax and sales numbers released by the state's Department of Tax and Fee Administration. According to the agency's report this week, the state recorded $216 million in sales during the first quarter of 2023, based on $1.2 billion in ...

LOS ANGELES-- Clearmind Medicine Inc. has selected Yale School of Medicine as the first site in the United States for its Phase I/IIa clinical trial of CMND-100, a proprietary compound aimed at treating alcohol use disorder (AUD). The trial will assess the safety and efficacy of CMND-100, which contains the active ingredient MEAI (5-methoxy-2-aminoindane), a ...

LOS ANGELES-- PharmaDrug Inc.  has announced the appointment of David Posner to its Advisory Committee and as a consultant for strategic initiatives and corporate restructuring. Posner, known for his involvement in the cannabis, psychedelic, and fintech sectors, brings valuable expertise to PharmaDrug. His track record includes founding companies like Red Light Holland and Psyched Wellness, ...

LOS ANGELES-New research published in the journal Chronic Obstructive Pulmonary Diseases has revealed that cannabis use is not associated with a heightened risk of developing chronic obstructive pulmonary disease (COPD), even among individuals who possess a clinically high risk for the disease. The longitudinal study, led by researchers from the University of California, Los Angeles, ...

LOS ANGELES-- Mind Medicine (MindMed), a clinical-stage biopharmaceutical company focused on developing treatments for brain health disorders, provided an update on its Phase 2b study evaluating MM-120 (lysergide D-tartrate) for generalized anxiety disorder (GAD). The study has enrolled and dosed over 50% of the targeted participants and is on track for topline results to be ...