Insights

LOS ANGELES- Texas Agriculture Commissioner Sid Miller has expressed support for restricting the sale of unregulated hemp-derived THC products while advocating for the expansion of the state's medical cannabis program. In a recent opinion piece, Miller highlighted concerns over the proliferation of unregulated consumable cannabis products in Texas, noting that many of these items are ...

LOS ANGELES- Canopy USA, a subsidiary of Canopy Growth Corporation, has announced the appointment of M. Brooks Jorgensen as its new President. Jorgensen brings over two decades of experience in the wine and spirits industry, including a tenure as Vice President and General Manager at Southern Glazer’s Wine and Spirits. Prior to joining Canopy USA, ...

LOS ANGELES- Psyence Biomedical Ltd. , a biotechnology firm specializing in psilocybin-based psychedelic medicines, has finalized a private placement, securing approximately $2 million in gross proceeds. The financing involved the issuance of 1,000,000 common shares at $2.00 per share, accompanied by series A and series B common warrants. Both warrant series are immediately exercisable at ...

LOS ANGELES- The Massachusetts Cannabis Control Commission (CCC) has selected Holliston Town Manager, Travis Ahern, as its new Executive Director. Ahern's appointment follows a comprehensive search process that began earlier this year. He was among four finalists who participated in public interviews in October. The CCC initially extended the offer to David Lakeman, a former ...

LOS ANGELES- Psyence Biomedical Ltd. (Nasdaq: PBM) has regained compliance with all Nasdaq continued listing requirements, as confirmed by the Nasdaq Hearings Panel. The company had previously requested a transfer from The Nasdaq Global Market to The Nasdaq Capital Market, effective November 15, 2024. This strategic move enabled Psyence Biomedical to meet specific listing criteria, ...

LOS ANGELES- Canopy Growth Corporation, a Canadian cannabis company, has completed its acquisition of Acreage Holdings through its U.S. subsidiary, Canopy USA, LLC. This transaction grants Canopy USA full ownership of Acreage Holdings, a multi-state cannabis operator based in New York. The acquisition was finalized with Canopy issuing approximately 5.89 million shares, valued at around ...

LOS ANGELES- Section 280E of the Internal Revenue Code presents significant financial challenges for cannabis businesses by prohibiting the deduction of ordinary business expenses associated with the trafficking of Schedule I or II controlled substances, which includes cannabis. This results in higher effective tax rates for these businesses compared to those in other industries. Enacted ...

LOS ANGELES- The cannabis industry is increasingly becoming a target for ransomware attacks, with the Everest Ransomware group recently focusing on this sector. In November 2024, two cannabis operators were listed as victims on Everest's dark-web blog within a single week. The second victim was identified as a client of the first, a software-as-a-service vendor, ...

LOS ANGELES- The U.S. cannabis industry remains in a state of flux due to ongoing federal policy uncertainties, impacting market dynamics, investment strategies, and regulatory compliance. In August 2024, the U.S. Drug Enforcement Administration (DEA) postponed a hearing on reclassifying cannabis from a Schedule I to a Schedule III substance under the Controlled Substances Act. ...

LOS ANGELES- Canopy Growth Corp., a cannabis industry, has announced the appointment of Luc Mongeau as its new Chief Executive Officer, effective January 6. Mongeau succeeds David Klein in this leadership role. With over 25 years of experience in the consumer packaged goods sector, Mongeau has previously held significant positions, including CEO of eSolutions Furniture ...

LOS ANGELES- In November 2024, numerous licensed cannabis dispensaries in the Los Angeles area received notices from the California Department of Tax and Fee Administration (CDTFA) indicating a shift in their tax payment schedules from quarterly to monthly, effective January 1, 2025. This change is attributed to the increasing tax liabilities within the cannabis industry. ...

LOS ANGELES- A recent study published in Clinical Parkinsonism & Related Disorders reveals that a significant majority of individuals in France diagnosed with Parkinson's disease (PD) are in favor of utilizing medical cannabis and cannabidiol (CBD) for symptom management. The nationwide online survey, which included 1,136 participants with PD, found that 81.7% expressed support for ...

LOS ANGELES- The State of Illinois, in collaboration with the City of Chicago, has inaugurated the Cannabis Research Institute (CRI), a joint initiative between the University of Illinois and the Discovery Partners Institute (DPI). This endeavor aims to enhance research and data collection on cannabis, informing future industry developments and public policy. Governor JB Pritzker ...

LOS ANGELES- In the aftermath of Donald Trump’s re-election to the White House, Ronald Strauss, CEO of GetTangi Corporation, a company integrating cryptocurrency with legal cannabis transactions, expressed a measured outlook on the potential regulatory landscape for digital assets. Strauss, in a recent LinkedIn post, characterized Trump’s administration as possibly “transformative” for cryptocurrency, citing its ...

LOS ANGELES- President-elect Donald Trump has nominated Robert F. Kennedy Jr. to lead the U.S. Department of Health and Human Services (HHS), positioning him to influence significant drug policy reforms, including the promotion of psychedelics therapy and the restructuring of federal cannabis regulations. Kennedy's journey to this nomination has been unconventional. He began the 2024 ...

LOS ANGELES- The November 5, 2024, elections have brought significant changes to state-level drug laws, requiring employers to reevaluate workplace policies, especially around cannabis and psychedelics. Key developments in Nebraska, Florida, North Dakota, South Dakota, and Massachusetts reflect the nation’s shifting but divided stance on drug legalization. Nebraska: A Step Forward for Medical Cannabis Nebraska ...

LOS ANGELES- a partnership between Black Star Wellness, LLC, and AYR Wellness Inc, has been conditionally awarded a vertically integrated medical cannabis license by the New York Cannabis Control Board. This license grants the right to operate as a "Registered Organization" within New York's regulated cannabis market. Black Star Wellness holds a majority stake in ...

LOS ANGELES- Los Angeles County District Attorney's Office has initiated a public service campaign to educate youth and caregivers about the risks associated with modern cannabis products, which are significantly more potent than those available five decades ago. This initiative, launched on October 31, 2024, aims to promote healthier communities by raising awareness of the ...

LOS ANGELES- Voters in three Texas cities—Dallas, Bastrop, and Lockhart—have approved local ordinances to decriminalize low-level cannabis possession. Each measure passed with strong support, reflecting a growing trend in Texas municipalities toward reducing penalties for cannabis possession. In Dallas, Proposition R, commonly referred to as the Dallas Freedom Act, passed with approximately 66% support. This ...

LOS ANGELES- As Donald Trump returns to the White House, the cannabis industry is assessing how his policy stance could shape the future of legal cannabis in the United States. Trump's position on cannabis has evolved since his first term, but his approach remains largely rooted in supporting states’ rights rather than endorsing sweeping federal ...

LOS ANGELES- In November 2024, voters in four states—Florida, Nebraska, North Dakota, and South Dakota—will decide on significant cannabis ballot measures. Florida, the most populous among them, aims to transition from a medical-only market to adult-use sales through Amendment 3. The measure requires a 60% majority to pass, and polling has shown fluctuating support. North ...

LOS ANGELES- Planet 13 Holdings Inc., a multi-state cannabis company, recently launched the "Healing Heroes" initiative in Florida to support veterans and first responders. This program, active from November 1 to 14, 2024, aims to reduce the costs associated with obtaining or renewing medical cannabis cards. Planet 13 is collaborating with The Grateful Veteran, a ...

LOS ANGELES- Starting November 2024, Arizona will permit home delivery for recreational cannabis, marking a significant shift in state policy. The Arizona Department of Health Services has approved this expansion, previously limited to medical cannabis patients. Now, residents aged 21 and older can receive home deliveries facilitated by licensed dispensaries or partnered third-party services. Recreational ...