Insights

LOS ANGELES- In a notable advancement for the cannabis industry, legal sales in the United States are forecasted to exceed $31 billion this year, according to an economic forecast from Whitney Economics, a consultancy specializing in the cannabis and hemp sectors. This projection indicates a substantial increase in the market, with sales expected to reach ...

LOS ANGELES- Last week, the Massachusetts legislature's Special Joint Committee on Initiative Petitions convened a hearing to deliberate on a proposed initiative aiming to legalize the therapeutic use of natural psychedelics. The measure, which seeks to authorize the consumption of "naturally occurring" psychedelics such as psilocybin mushrooms, peyote, and ibogaine in "therapeutic settings," is championed ...

NEW YORK — In a significant move aimed at bolstering the burgeoning cannabis industry in New York, the Cannabis Control Board voted last week to significantly expand the market's infrastructure by awarding licenses to 114 new cannabis companies. Concurrently, the board announced a two-year waiver of all conditional cannabis cultivator licensing fees, a measure designed ...

NEW YORK- In a move that may herald a more accommodating stance by federal agencies towards the burgeoning cannabis industry, the Internal Revenue Service (IRS) recently issued a memo that could significantly alter the financial landscape for cannabis entrepreneurs. Addressing the longstanding issue of cash transactions within the sector, the guidance suggests that not all ...

LOS ANGELES- This week, South Dakota Governor Kristi Noem (R) enacted two significant pieces of legislation aimed at tightening control over the cannabis industry within the state. The first bill empowers law enforcement and other governmental bodies to conduct searches and take disciplinary actions against medical cannabis businesses. The second piece of legislation targets the ...

LOS ANGELES – The Oregon Liquor and Cannabis Commission (OLCC) introduced a groundbreaking online system on Monday, aimed at streamlining the licensing process for the state's cannabis and alcohol industries. The newly unveiled Cannabis and Alcohol Management Program (CAMP) is designed to serve as a comprehensive online portal for businesses engaging in the state-regulated sale ...

LOS ANGELES – In a legal challenge that underscores the tensions between cannabis businesses and local regulations, three cannabis retailers have initiated a lawsuit against a Massachusetts township. Theory Wellness, Community Growth Partners Great Barrington Operations LLC, and Highminded LLC are contesting nearly $6 million in community impact fees levied by Great Barrington. These fees, ...

LOS ANGELES- TerrAscend Corp. a igure in the multi-state cannabis sector, has announced a bold fiscal maneuver during its financial disclosures for the fourth quarter and the entirety of the 2023 fiscal year. The Canadian-headquartered company is set to challenge the status quo by ceasing tax payments under Section 280E of the Internal Revenue Code, ...

LOS ANGELES- Awakn Life Sciences Corp. a biotechnology company, has made significant strides in the treatment of addiction, particularly Alcohol Use Disorder (AUD), with its recent investigative study on a proprietary S-ketamine oral thin film (OTF) formulation. The study highlighted the formulation's potential, demonstrating significant dissociative effects and effectively reducing alcohol cravings in harmful drinkers. ...

LOS ANGELES- Chicago Atlantic Real Estate Finance, Inc.  an Illinois-based cannabis real estate investment trust (REIT), has disclosed a substantial 17% increase in net interest income for the fiscal year 2023, reaching $57.1 million. This financial upswing underscores the company's strong performance and strategic positioning within the burgeoning cannabis industry. In the course of its ...

LOS ANGELES- In a move that reflects ongoing debates over cannabis policy, the Kentucky Senate has introduced conditions for funding the state's Office of Medical Cannabis. The program, set to launch in 2025, now faces additional hurdles as the Senate requires "conclusive evidence" of medical cannabis's efficacy before releasing funds for its oversight. This provision, ...

LOS ANGELES- Hawaii is on the verge of a major shift in its cannabis policy as House lawmakers in two crucial committees have voted to advance a bill for the legalization of adult-use cannabis, albeit with several amendments. The bill, initially passed by the state Senate earlier this month, garnered support in the Judiciary and ...

LOS ANGELES--In an industry burgeoning with conventions and expos, the Hall of Flowers stands out not merely as an event but as a celebration of cannabis culture's depth, resilience, and creativity. It's not just the scale or the content that distinguishes Hall of Flowers; it's the ethos, the inclusivity, and the sheer originality of its ...

LOS ANGELES- In a strategic move to enhance its market footprint, High Tide Inc. (Nasdaq: HITI) (TSXV: HITI), a prominent Canadian cannabis chain, has announced the acquisition of the Queen of Bud brand, including its intellectual property, for $1 million. The transaction, which combines $100,000 in cash and the remainder in High Tide shares, is ...

LOS ANGELES- In a forward-thinking move, Ohio legislators are deliberating a bill designed to smooth the transition for police K9 units in the wake of the state's cannabis legalization. The proposed legislation seeks to utilize cannabis tax revenue to fund the retirement and replacement of drug-detection dogs, a nuanced challenge faced by law enforcement as ...

NEW YORK- In an era where CBD products have surged in popularity for their health benefits in humans, a new study funded by the National Animal Supplement Council (NASC) brings promising news for our four-legged friends. According to research published in the journal *Frontiers in Veterinary Science*, hemp-derived CBD and other cannabinoids are not only ...

LOS ANGELES- The Virginia Department of Forensic Science (VDFS) has made significant progress in the development of reliable methods for detecting THC and other cannabinoids in blood samples, marking a pivotal advancement in forensic science amidst the evolving legal landscape of cannabis. Funded by the Department of Justice’s National Institute of Justice with an initial ...

LOS ANGELES A recent publication in the Journal of American Medical Association (JAMA) Psychiatry has underscored the urgent need for increased research and surveillance in the realm of ketamine treatments. Authored by Dr. Samuel T. Wilkinson, Dr. Joseph J. Palamar, and Dr. Gerard Sanacora, the article casts a spotlight on the burgeoning use of ketamine, ...

NEW YORK- In a groundbreaking move for North Carolina's cannabis industry, the Eastern Band of Cherokee Indians is poised to unveil the state's inaugural adult-use cannabis dispensary. Slated for an April 20th opening, this development not only signifies a notable shift in the region's approach to cannabis but also establishes the tribe as a frontrunner ...

LOS ANGELES- In a significant step toward making medical cannabis more accessible to patients, Ohio has announced plans to reduce the registration fee for medical cannabis patients to a nominal one cent. This move, aimed at providing immediate financial relief, precedes the state's ultimate goal of eliminating the fee entirely. The decision reflects a broader ...

LOS ANGELES- Verano Holdings, a player in the cannabis industry, showcased a mixed financial performance for the year ending December 31, 2023. The company reported a significant revenue uptick, reaching $938 million, marking a 7% increase from the prior year's $879 million. This growth underscores Verano Holdings' expanding footprint and operational success across multiple states. ...

LOS ANGELES- Revive Therapeutics Ltd. has successfully concluded the final tranche of its previously announced private placement, marking a significant milestone in the company's fundraising efforts. This move, detailed in press releases dated January 24, 2024, and January 31, 2024, saw the issuance of 33,917,428 units at a price of $0.035 per unit, culminating in ...

LOS ANGELES- In a significant legislative push, two key Utah state lawmakers are spearheading a bill aimed at safeguarding the rights of medical marijuana patients against discrimination by local governments. This initiative follows the 2018 approval of medical cannabis use by Utah voters, a measure that garnered nearly 53% of the vote, illustrating a shift ...