Insights

LOS ANGELES-- In a groundbreaking development, two Black farmers in Florida have been granted medical marijuana business licenses as per the legislation signed into law by Governor Ron DeSantis last month. The legalization law, which was instituted in 2017, stipulated that one medical cannabis business license be designated for a Black farmer who is part ...

LOS ANGELES-- Despite a significant decline in its stock value since its peak in 2021, Numinus Wellness Inc. remains determined to navigate the challenges in the psychedelic space. The company's management is strategically optimizing operations, targeting potential approval of MDMA-assisted therapy in 2024, and addressing cash burn concerns, rekindling investor interest. During a recent earnings ...

TORONTO-- Statistics Canada has recently released the May retail sales figures for cannabis in the country, revealing a moderate increase from April levels. According to the report, cannabis sales rose by 1.2%, reaching C$415.6 million. These numbers come after a slight downward revision for April sales, which were adjusted to C$410.6 million. On a per-day ...

LOS ANGELES-- A recent report by cannabis research firm Zuanic & Associates sheds light on the performance of the cannabis industry during the second quarter. According to the report, market conditions in most states have favored retailers over cultivators, and the growth catalyst for the industry has been primarily contingent on federal reform news rather ...

LOS ANGELES — In a significant development, a Cole County Circuit judge dismissed the case of a Missouri-based medical cannabis company that sought to halt a product recall, as reported by KMIZ. The judge's decision cited that Delta Extraction, LLC had not fully pursued administrative solutions before seeking judicial intervention, rendering the court without proper ...

LOS ANGELES-- An extensive report released by the European Monitoring Centre for Drugs and Drug Addiction (EMCDDA) sheds light on the current state of cannabis consumption and regulation across the European Union. According to the report, approximately 22.2 million adults in the EU, accounting for 7.7% of the population, consumed cannabis in the past year. ...

LOS ANGELES-- A recently published study has revealed promising results for Kernel's Flow technology system, demonstrating its capacity to capture and analyze brain changes following the administration of ketamine, a psychoactive substance. The research, published in the esteemed Nature Journal Scientific Reports and sponsored by psychedelics firm Cybin Inc. (CYBN), specifically focused on measuring the ...

NEW YORK -- In a significant move, New York cannabis regulators have voted in favor of the "Cannabis Showcase" program, permitting growers to sell their products directly to the public at various events, including concerts and festivals. As reported by NBC 5, this decision aims to bolster the promotion of New York cannabis products in ...

NEW YORK-- New York State Senator George Borello (R) recently introduced a measure aimed at banning cannabis smoking and consumption in public, unless special authorization has been granted for specific locations. The legislation's Assembly version is sponsored by Republican Assemblyman Michael Novakhov, who seeks to implement rules for cannabis use similar to those in place ...

LOS ANGELES-- The United Food and Commercial Workers (UFCW) union, Local 360, recently announced that the Cannabist retail location in Deptford, NJ, operated by Columbia Care, Inc., has successfully ratified its first labor contract. The contract covers dispensary associates and senior dispensary associates, and its noteworthy feature is the unanimous vote in favor of the ...

LOS ANGELES-- In a groundbreaking move, the U.S. Food and Drug Administration (FDA) recently released draft guidance aimed at facilitating research into classic psychedelics, such as LSD, MDMA, and psilocybin, for potential therapeutic uses in mental illness treatment. This marks a significant shift in the medical community's stance towards psychedelic medicine, a field previously regarded ...

NEW YORK-- A business owner in New York City has been ordered to forfeit over $400,000 in illegal proceeds and unpaid taxes after illegally selling cannabis at multiple shops in Manhattan, according to the Associated Press. Rami Alzandani, the owner of the business, reached a non-prosecution agreement with the Manhattan District Attorney's Office, allowing him ...

SAN FRANCISCO --In a groundbreaking effort, the Berkeley Center for Psychedelic Studies (BCPS) has released the highly anticipated results of their first-ever study on the therapeutic effects of psychedelics. The study, conducted over a span of two years, has ignited hope among researchers and mental health professionals as it sheds light on the potential of ...

LOS ANGELES-- Opponents of cannabis and some mainstream media outlets have long claimed that cannabis is detrimental to human brain health, often suggesting a causal link between cannabis use and psychosis. However, a recent study conducted by researchers in the United Kingdom challenges this narrative. The study's findings, published in the journal Psychiatry and Clinical ...

LOS ANGELES-- As severe weather conditions persist, cannabis companies spanning from Northern California to South Florida are grappling with new operational obstacles. The strain on power grids and the aftermath of historic flooding in parts of the Northeast add to the difficulties faced by millions of individuals and businesses across the country due to climate ...

LONDON-- London-based mental health care company, Compass Pathways (Nasdaq: CMPS), announced encouraging outcomes from a phase 2 clinical trial investigating the efficacy of its synthetic psilocybin treatment, COMP360, in combination with daily SSRI antidepressants for persistent depression. The study involved 19 individuals with treatment-resistant depression and examined the safety and effectiveness of a single 25mg ...

TORONTO-- In response to a surplus of cannabis and declining prices within the Canadian cannabis industry, cannabis entrepreneurs are increasingly embracing smaller micro-cultivation facilities as a means to reduce costs and produce higher-quality cannabis. This shift toward micro-class licenses, which operate smaller cultivation spaces, has the potential to alleviate the current supply glut in the ...

LOS ANGELES-- On July 12, the State Medical Board of Ohio announced its decision to include irritable bowel syndrome (IBS) in the state's list of qualifying conditions for medical cannabis. However, the board rejected the addition of autism spectrum disorder (ASD) and obsessive-compulsive disorder (OCD) to the list. The Ohio Medical Cannabis Industry Association (OMCIA), ...

LOS ANGELES --In a significant development for Minnesota's cannabis industry, the Red Lake Nation has voted to allow NativeCare Dispensary, an existing tribal medical cannabis dispensary, to commence sales to individuals aged 21 and older starting August 1. This decision positions the Native American tribal dispensary as a potential frontrunner in Minnesota's recreational marijuana market. ...

LOS ANGELES-- Efforts to legalize medical cannabis in North Carolina have hit a roadblock, as the bill that gained bipartisan support in the state Senate earlier this year has been deemed unlikely to pass in the lower chamber, confirmed Speaker Tim Moore of the state House of Representatives this week. Speaker Moore cited significant opposition ...

LOS ANGELES-- In a significant development, several states with medical cannabis programs have collaborated with U.S. health regulators to provide crucial data regarding cannabis use and its impact on patients. This information, including details about the specific cannabis products utilized and their effects, has been shared as part of the Biden administration's review to assess ...

ILLINOIS-- The 55 winners of the upcoming Illinois social equity license lottery, set to be announced on Thursday, may encounter difficulties in successfully launching their cannabis businesses. Historical data indicates that only a fraction of previously awarded social equity licenses have managed to open their doors for business. The Illinois Department of Financial and Professional ...

LOS ANGELES-- The U.S. Food and Drug Administration (FDA) and the Federal Trade Commission (FTC) have jointly taken action against six companies for illegally selling food products containing delta-8 THC, a hemp-derived compound. Warning letters were issued to Delta Munchies, Dr. Smoke LLC, Exclusive Hemp Farms/Oshipt, Nikte's Wholesale LLC, North Carolina Hemp Exchange LLC, and ...

NEW YORK - Plans for cannabis farmers markets in New York State have hit an impasse as Gov. Kathy Hochul's office puts the idea on hold indefinitely. The proposal, initially introduced by state regulators in May, aimed to establish farmers markets as a solution for cannabis growers facing an excess of unsold crops from 2022. ...

LOS ANGELES--  In a significant boost to New York's social equity cannabis program, Chicago Atlantic Admin LLC has committed up to $150 million in senior secured capital for the Social Equity Cannabis Investment Fund. The announcement, made by Gov. Kathy Hochul's office on Friday, ensures that the $200 million fund aimed at supporting social equity ...