Insights
Florida Appeals Court Reduces Drug-Trafficking Conviction to Possession
LOS ANGELES- A Florida appeals court has overturned a drug-trafficking conviction, reducing it to a possession charge due to the inability to distinguish between illegal cannabis and legal hemp. The Second District Court of Appeal ruled that the state failed to prove beyond a reasonable doubt that the substance exceeded the legal threshold for tetrahydrocannabinol ...
New Hampshire Governor Maintains Opposition to Cannabis Legalization
LOS ANGELES- New Hampshire Governor Chris Sununu continues to oppose the legalization of recreational cannabis, even as the state's House of Representatives advances related legislation. In February 2025, the House passed House Bill 360, which seeks to legalize the possession and limited cultivation of cannabis for adults aged 21 and over. Despite the House's ...
iAnthus Capital Holdings Reports Fiscal Year 2024 Financial Results
LOS ANGELES- iAnthus Capital Holdings, Inc, a company engaged in regulated cannabis operations across the United States, has released its financial outcomes for the fourth quarter and full year ending December 31, 2024. Annual Financial Performance The company reported annual revenue of $167.6 million, marking a 5.2% increase compared to the prior year. Gross profit ...
GreenWave Advisors Urges Elected Officials to “Put American Cannabis First”
NEW YORK – In 1996, Medical Marijuana was legalized in California during the Clinton Administration. Since the “Colorado Experiment” in 2014, when the nation’s first recreational use market was implemented, the Federal Government has maintained its prohibitive legal status of Marijuana. Still, the pressures brought to bear by many state statutes that have locally decriminalized ...
Utah Poll Indicates Majority Support for Recreational Cannabis Legalization
LOS ANGELES- A recent survey conducted by Noble Predictive Insights reveals that 52% of registered Utah voters are in favor of a ballot initiative to legalize cannabis for recreational use, while 38% oppose it, and 9% remain undecided. The poll, commissioned by the medical cannabis advocacy group Keep Utah Medical, surveyed 609 registered voters ...
Texas Senate Passes Bill to Ban Hemp THC
DALLAS–The Texas Senate has taken a major step toward banning consumable hemp products that contain THC or other intoxicating cannabinoids, a move that could severely impact an $8 billion industry employing approximately 50,000 workers. On March 19, the Senate passed Senate Bill 3 with a 24-7 vote, marking a significant shift in the state’s approach ...
Hemp-Derived Products Influence Cannabis Market Dynamics
LOS ANGELES- The 2018 Farm Bill's legalization of hemp cultivation has significantly impacted the cannabis industry, leading to the emergence of various hemp-derived products that are reshaping market dynamics. One notable development is the rise of intoxicating hemp-derived products, such as those containing Delta-8 THC, which have gained popularity as legal alternatives to traditional ...
Missouri’s Cannabis Industry Experiences Significant Growth
LOS ANGELES- Since legalizing recreational cannabis in 2022, Missouri has rapidly emerged as a prominent player in the cannabis market. The state now ranks as the seventh-largest in cannabis sales, surpassing states with larger populations and more established markets. Several factors have contributed to this growth: Regulatory Framework: Missouri implemented a streamlined regulatory system ...
Tokyo Smoke Closes Toronto Locations Amid Industry Challenges
LOS ANGELES- Tokyo Smoke, a prominent cannabis retailer, has reportedly ceased operations at all its Toronto outlets. This development aligns with a broader trend of cannabis store closures across Canada, reflecting the industry's evolving landscape. In Alberta, for instance, 62 cannabis store licenses were canceled or not renewed in 2023, surpassing the 48 new licenses ...
Innovative Cannabis-Derived Compound Offers Pain Relief Without Psychoactive Effects
LOS ANGELES- Researchers at Washington University School of Medicine in St. Louis and Stanford University have developed a novel compound that replicates the pain-relieving properties of cannabis without inducing psychoactive side effects or addiction. Development and Mechanism The compound was engineered to target peripheral pain receptors located outside the brain and spinal cord. By ...
Cannabis and Psychedelic Mushroom Kiosk at Brookfield Square Mall Draws Mixed Reactions
LOS ANGELES- A kiosk at Brookfield Square Mall in Brookfield, Wisconsin, operated by Waukesha-based Ethereal Gold Dispensary, has garnered attention for selling cannabis and psychedelic mushroom products. The presence of this kiosk has sparked a range of responses from the community. Community Responses Some mall patrons have expressed concerns about the kiosk's location, particularly regarding ...
Idaho Lawmakers Push to Restrict Citizen-Led Ballot Initiatives on Cannabis and Drug Reform
BOISE - Idaho lawmakers have taken a significant step toward restricting citizen-led ballot initiatives related to cannabis and other drug reforms. The Idaho Senate recently passed a House-approved bill that would put a constitutional amendment before voters in the 2026 election. If approved, this amendment would strip the electorate of their ability to pass laws ...
Analysis: Cannabis Capital on the Rise: A Resilient Industry Continues To Grow
NEW YORK–Despite persistent regulatory frustrations, wholesale price compression, slowing growth, and historically low stock prices, the cannabis capital markets are showing unexpected strength. According to Viridian Capital Advisors, global cannabis capital raises surged to $2.3 billion for the last twelve months (LTM) ending March 7, 2025—a 46% increase compared to the prior year. This comes ...
California Seizes $534 Million in Illegal Cannabis in 2024
LOS ANGELES- In 2024, California enforcement officials seized illegal cannabis valued at approximately $534 million, underscoring the state's commitment to regulating its cannabis industry. Enforcement Actions and Seizures The Unified Cannabis Enforcement Task Force (UCETF), established in 2022 to enhance coordination among state, local, and federal agencies, played a pivotal role in these enforcement ...
San Diego Evaluates Cannabis Business Tax Increase
LOS ANGELES- The San Diego City Council is considering a proposal to raise the tax rate on cannabis businesses from 8% to 10%, aiming to address a projected $258 million budget deficit for the upcoming fiscal year. Since the approval of Measure N by voters in 2016, San Diego has imposed a gross receipts ...
States Propose Cannabis Tax Hikes Amid Industry Pushback
LOS ANGELES- In Michigan, Governor Gretchen Whitmer's recent $3 billion infrastructure plan includes a proposal to close a cannabis tax loophole, potentially generating an additional $470 million for road repairs. This move has alarmed local dispensary owners, who fear that higher taxes could lead to business closures and drive consumers toward unregulated markets. The state's ...
Trump’s Tariffs & Social Program Cuts: Potential Impacts On The Cannabis Industry
NEW YORK--Economic policies don’t just shape government budgets; they create ripple effects across industries, shifting market dynamics, consumer behavior, and business strategies. As the cannabis industry continues to grow and normalize, policies under President Trump could determine which businesses thrive and which ones struggle. Two major developments could have profound effects on the cannabis industry: ...
The Unregulated Illicit Cannabis Market Is Booming in California
LOS ANGELES-In 2024, California's legal cannabis production experienced an 11.8% increase, reaching 1.4 million pounds, according to a study commissioned by the state's Department of Cannabis Control (DCC). Despite this growth, the illicit cannabis market continues to overshadow the legal industry, with unauthorized production estimated at 11.4 million pounds. A significant portion of this illicit ...
Cannabis Edibles and Emergency Department Visits
LOS ANGELES- The consumption of cannabis edibles has been linked to a notable increase in emergency department (ED) visits, particularly among younger populations. Unlike inhaled cannabis, edibles have a delayed onset of effects, often leading individuals to consume higher quantities, resulting in adverse reactions. A study published in the Morbidity and Mortality Weekly Report ...
GTI Q4 2024: Strong Leadership, But Can It Sustain Momentum?
NEW YORK–Green Thumb Industries (GTI) has once again demonstrated why it remains a leader in the U.S. cannabis industry. With a steady growth trajectory and disciplined financial management, the company continues to post strong results in a volatile sector. However, challenges remain, particularly around margin sustainability, regulatory uncertainty, and long-term expansion opportunities. Q4 2024 Financial ...
New Study Suggests Medical Cannabis Highly Cost-Effective Treatment for PTSD
LOS ANGELES-A recent study highlights the affordability and effectiveness of medical cannabis as a treatment for individuals with moderate post-traumatic stress disorder (PTSD). Conducted by researchers at Leafwell, the study suggests that medical cannabis could improve patient health outcomes while potentially lowering overall healthcare costs, even for those without comprehensive insurance coverage. Researchers evaluated the ...
Arizona’s Cannabis Sales Experience Downturn in 2024
LOS ANGELES- In 2024, Arizona's combined medical and adult-use cannabis market saw a decline, with total sales amounting to $1.1 billion, a decrease from the nearly $1.3 billion recorded in both 2022 and 2023. The average price of cannabis products also experienced a reduction, falling from $19.92 in January 2024 to $18.37 in January 2025, ...
NYC Sheriff Files Lawsuit Against Home Contractors Over Alleged Permit Violations
LOS ANGELES- New York City Sheriff Anthony Miranda, known for his enforcement actions against unlicensed cannabis dispensaries, has initiated a $350,000 lawsuit against home contractors for allegedly failing to secure necessary permits during renovations of his Brooklyn property. The lawsuit claims that the contractors' oversight led to a stop-work order and subsequent structural issues, rendering ...
Florida Republican Lawmakers Propose Expansion of Medical Cannabis Access
LOS ANGELES- In recent legislative developments, certain Republican lawmakers in Florida have introduced bills aimed at broadening access to medical cannabis within the state. Notably, these proposals include provisions that would permit qualified medical cannabis patients to cultivate a limited number of plants for personal use. State Senator Joe Gruters has filed Senate Bill 456, ...
Maryland House Committee Advances Bill to Exempt Certain Cannabis Transactions from State Sales Tax
LOS ANGELES- The Maryland House Ways and Means Committee approved House Bill 619, legislation designed to exempt specific cannabis-related transactions from the state's sales and use tax. The bill, introduced on January 23, 2025, seeks to expand existing tax exemptions to include sales between licensed cannabis businesses and registered cannabis nurseries. Currently, Maryland imposes a ...
