Insights

LOS ANGELES- This week, the Drug Enforcement Administration (DEA) made a significant policy shift by reclassifying cannabis under the Controlled Substances Act (CSA), moving it from Schedule I to Schedule III, alongside drugs like Tylenol with codeine and testosterone. This decision, reported by the Associated Press and based on information from unnamed sources, is seen ...

LOS ANGELES- A recent poll by Morning Consult indicates that 64% of Americans support allowing cannabis businesses access to traditional banking services, suggesting such measures could enhance public safety. The poll aligns with growing legislative momentum behind the Secure and Fair Enforcement (SAFER) Banking Act, which aims to integrate legal cannabis businesses into the mainstream ...

LOS ANGELES- Despite the potential federal reclassification of cannabis to Schedule III under the Controlled Substances Act, significant banking hurdles remain for state-legal cannabis companies. The American Bankers Association (ABA) has highlighted that the change in scheduling will not alleviate the legal barriers that prevent these businesses from accessing traditional financial services. The ABA has ...

Lophos Holdings Inc.  — Lophos Holdings Inc., through its subsidiary Lophos Pharmaceuticals Corp., announces the successful planting of 3,000 peyote seeds, significantly surpassing its initial cultivation target of 1,000 plants for the year 2024. This expansion is part of the company's strategic response to the growing demand for natural psychedelics in therapeutic applications. Strategic Expansion ...

LOS ANGELES- In the evolving landscape of U.S. cannabis legislation, three states—Nebraska, Idaho, and Arkansas—are poised to make significant strides. Nebraska and Idaho are looking to legalize medical cannabis, while Arkansas aims to expand its existing medical cannabis program. Arkansas Arkansas is set to consider an initiative that would significantly broaden its medical cannabis program, ...

LOS ANGELES- California's legislative efforts to allow cannabis cafés took a significant step forward as Assembly Bill 1775, championed by Representative Matt Haney (D), passed through a second Assembly committee. The bill received favorable votes in the Committee on Governmental Organization by a margin of 13 to 2, following an earlier approval from the Committee ...

LOS ANGLES- A recent study conducted by German researchers has found that tetrahydrocannabinol (THC) may significantly extend the survival time of ambulatory palliative patients. Published in the peer-reviewed journal Medical Cannabis and Cannabinoids, the study explores the effects of THC on patients who typically receive it to improve sleep quality, appetite, and to reduce anxiety, ...

LOS ANGELES- The U.S. Drug Enforcement Administration (DEA) has requested a federal appeals court to refuse Dr. Sunil Aggarwal's application to use psilocybin for terminally ill patients, citing the Controlled Substances Act (CSA) which does not allow exemptions under Right to Try laws. Dr. Aggarwal, who leads the Advanced Integrative Medical Science Institute in Seattle, ...

LOS ANGELES-  A recent study conducted by the National Institute of Standards and Technology (NIST) has revealed that a significant majority of smokable hemp products contain THC levels that exceed federal legal limits, classifying them as illegal under current regulations. The analysis, which appeared in the Journal of Forensic Chemistry, tested 53 smokable hemp products ...

LOS ANGELES- In a notable development in the cannabis industry, employees at Cresco Labs' cultivation facility in Fall River, Massachusetts, have opted to de-unionize. The decision, made ahead of the expiration of their current contract this June, marks a significant shift, as it represents one of the first instances where unionized cannabis workers have chosen ...

LOS ANGELES- Illinois Governor J.B. Pritzker campaigned for President Joe Biden in Grand Rapids, Michigan, using the occasion of the 420 cannabis holiday to discuss the economic benefits of cannabis legalization. Pritzker highlighted the positive impacts seen in Illinois and Michigan, states that have both legalized cannabis for adult use. He credited these policy changes ...

LOS ANGELES- Recent legislative developments across the United States reflect a broad spectrum of approaches to cannabis-related issues, from medical use and public safety to regulatory and expungement processes. These actions signify ongoing, nuanced dialogues within federal and state governments concerning the status and management of cannabis. At the federal level, the Senate Foreign Relations ...

LOS ANGELES- Florida is approaching a pivotal moment as it prepares to vote on the legalization of recreational cannabis in November. Current polling data suggests a tight race towards achieving the required 60% supermajority needed for passage. Insights from the USA Today/Ipsos and Florida Atlantic University/Mainstreet Research polls depict a hesitant electorate, potentially jeopardizing the ...

LOS ANGELES- The Colorado Senate recently approved SB24-158, legislation aimed at intensifying regulations on social media content concerning cannabis, psychedelics, and hemp products. This bill, met with a significant debate over free speech and the regulation of digital content, is poised to reshape how such substances are discussed online within the state. Amendments and Opposition ...

LOS ANGELES- The Michigan Cannabis Regulatory Agency (CRA) announced a new record in adult-use cannabis sales for March 2024, totaling $286.8 million. This figure represents 99% of the state's cannabis sales, with flower products leading at $131.4 million. Vape cartridges followed with $54.4 million in sales, $33.9 million in inhalable concentrates, and edibles at $26.3 ...

LOS ANGELES- In a recent legislative move in Illinois, lawmakers have proposed a ban on intoxicating hemp products, including delta-8 THC. This initiative aligns with broader efforts to implement tighter controls on the hemp industry following the legalization of hemp by the 2018 Farm Bill. The proposed legislation aims to eliminate products like delta-8 THC, ...

LOS ANGELES- In North Dakota, cannabis advocates are rallying to place an adult-use cannabis question on the ballot for the upcoming November general election. The initiative, led by former Bismarck mayor and current Burleigh County Commissioner Steve Bakken, requires the collection of 16,000 valid signatures by July 8 to qualify for inclusion. Bakken emphasized the ...

LOS ANGELES- In North Carolina, the path to legalizing recreational cannabis remains uncertain, with recent legislative efforts failing to achieve the necessary bipartisan support. The state's cautious approach, especially the lack of Republican backing, highlights the political hurdles facing pro-cannabis legislation. Economic considerations are a significant factor in the cannabis legalization debate. Projections suggest that ...

NEW YORK- The House Committee on Veterans' Affairs has recently passed two significant bills concerning the use of cannabis and psychedelics for veterans, gaining unanimous support among the committee members. The proposals, reported by Marijuana Moment, were considered along with a broader package of legislation. The first measure, the Veterans Cannabis Analysis, Research and Effectiveness ...

LOS ANGELES- At a recent House Oversight and Accountability Committee hearing, FDA Commissioner Robert Califf was rigorously questioned about the potential rescheduling of cannabis and the regulation of CBD products. The hearing underscored the growing need for clear, standardized federal guidelines for cannabis and CBD. The main focus of the hearing was the proposed shift ...

NEW YORK- The New Hampshire House of Representatives has passed a bill to legalize adult-use cannabis, with a vote of 239 to 136, moving the proposal forward to the Senate where its outcome is less certain. This marks the third consecutive year the House has passed cannabis legalization reforms, yet the Senate has consistently declined ...

LOS ANGELES-  The Alcohol and Gaming Commission of Ontario (AGCO) has levied a fine of CA$200,000 against Cannabis Xpress for breaching provincial anti-inducement laws designed to regulate cannabis retail operations. The AGCO's inquiry, triggered by allegations of inducement-related activities, uncovered that Cannabis Xpress’ Data Services Program, along with other agreements with licensed producers, were part ...

LOS ANGELES- Clearmind Medicine Inc. a  biotech company specializing in the discovery and development of psychedelic-derived therapeutics, has announced the filing of a patent application with the United States Patent and Trademark Office (USPTO) for the use of 3-methylmethcathinone (3-MMC) in the prevention and treatment of eating disorders, either alone or in conjunction with Palmitoylethanolamide ...

LOS ANGELES- Red Light Holland Corp., a North American and European producer of functional mushrooms and mushroom home grow kits, is set to provide an update on its Research and Development (R&D) collaboration with CCrest Laboratories Inc. and PharmAla Biotech Holdings Inc. The company has recently initiated the export of 5 kg of natural psilocybin ...

LOS ANGELES- Montana's Cannabis Control Division (CCD) is spearheading efforts to ensure public health and safety through the implementation of the Montana Cannabis Regulation and Taxation Act. The legislation aims to provide safe access to regulated cannabis while reducing the prevalence of unregulated products in the market. The CCD's role involves collaborating with stakeholders such ...