Insights
Colorado’s Cannabis Market Faces Decline Amid National Expansion
LOS ANGELES- Colorado, once a leader in the legal cannabis market, is now grappling with declining sales and tax revenues. A report from the state's Legislative Council Staff attributes this downturn to market saturation, oversupply, and the expansion of cannabis legalization in other states. The state’s cannabis market has contracted by 17% among licensed growers, ...
Allegations of Predatory Contracts Surface in Missouri’s Social Equity Cannabis Program
LOS ANGELES- Missouri’s social equity cannabis licensing program faces scrutiny amid allegations of predatory investor contracts. Designed to benefit disadvantaged individuals, the program has seen reports of investors using deceptive agreements to gain control of licenses meant for marginalized groups. Destiny Brown, one of 16 winners of a microbusiness dispensary license, claims she unknowingly signed ...
Georgia Pharmacy Defies Federal Ban, Sells Low-THC Cannabis Products
LOS ANGELES- A licensed pharmacy in Augusta, Georgia, has begun selling low-THC cannabis products, directly challenging federal regulations enforced by the U.S. Drug Enforcement Administration (DEA). Living Well Pharmacy, owned by Vic Johnson, is one of the 40 pharmacies approved under Georgia's 2019 medical marijuana law to dispense cannabis with a THC content of 5% ...
Critical Factors for Optimizing the Employee Lifecycle in Cannabis Businesses
LOS ANGELES — The cannabis industry is rapidly growing, fueled by increasing legalization and broader societal acceptance. With this growth comes a unique set of challenges, especially in the realm of human resources. For cannabis businesses, managing the employee lifecycle—from hiring to retirement—requires not only adherence to complex regulations when it comes to their employees, ...
South Carolina AG Confirms Legality of Hemp-Derived THC Beverages
LOS ANGELES- South Carolina Solicitor General Robert D. Cook issued a legal opinion on Sept. 16, affirming that nonalcoholic beverages containing hemp-derived delta-9 THC are legal under the 2018 Farm Bill, provided they contain no more than 0.3% THC by dry weight. The opinion was in response to a request from South Carolina House Speaker ...
The High Stakes of Cutting Corners in Regulatory Employee Compliance
LOS ANGELES — In the cannabis industry, regulatory compliance is not a mere formality, but it’s a vital safeguard against financial losses, legal challenges, and operational disruptions. An often overlooked yet incredibly high-stakes area of cannabis business operations is regulatory employee compliance management. While compliance is notoriously complex for cannabis businesses, failing to stay in ...
COMPASS Pathways Receives Analyst Ratings
LOS ANGELES- COMPASS Pathways, a company specializing in mental health treatments, has garnered significant attention in recent market reports due to favorable analyst ratings and its stock performance. Several brokerages have maintained a consensus "Buy" rating on COMPASS Pathways, with price targets ranging from $23.00 to $47.40. Six research analysts have recently reiterated their "buy" ...
High Tide Inc. Reports Revenue and Profitability in Q3 2024
LOS ANGELES- High Tide Inc. reported strong financial results for the third fiscal quarter of 2024, with record revenue of $131.7 million, reflecting a 6% increase year-over-year and sequentially. This revenue growth underscores the company's success in expanding its market share and navigating the competitive cannabis sector. The company's gross profit reached $35.5 million, a ...
Embracing the Evolution: The Rise of Cannabis Consumption Lounges
LOS ANGELES — The cannabis industry is no stranger to innovation, and one of the most promising developments in recent years is the emergence of cannabis consumption lounges. These venues are revolutionizing the way consumers interact with cannabis, offering a safe, social, and sophisticated environment for enthusiasts to enjoy their products. The cannabis industry in ...
Nixon’s Secret Recordings: A Shift in Private Views on Cannabis
LOS ANGELES- Recently uncovered White House recordings from 1973 reveal that President Richard Nixon privately acknowledged that cannabis was "not particularly dangerous," a stance at odds with his administration's aggressive drug policies. The recordings, discovered by drug reform advocate Kurtis Hanna while reviewing the Nixon Library archives, show a more nuanced perspective on cannabis than ...
California Governor Proposes Emergency Ban on THC in Hemp Products
LOS ANGELES- California Governor Gavin Newsom announced emergency regulations on Friday that would prohibit the sale of hemp products containing detectable levels of THC, the psychoactive compound in cannabis. The move aims to address concerns over the availability of intoxicating hemp products, especially those accessible to minors. Hemp products are currently sold outside of regulated ...
Medical Cannabis in Germany: A Gateway for Investment and Innovation
The investment climate in Germany's medical cannabis industry is poised for significant expansion, driven by the global cannabis legalization movement, ongoing regulatory changes, and mounting community and market demand. As the country embraces a more liberal approach to cannabis, it is becoming an increasingly appealing destination for investors and businesses in the medical cannabis sector. ...
Cannabis Sector Volatility Deepens After DEA Rescheduling Delay
LOS ANGELES- The cannabis industry faced heightened volatility as the MSOS ETF (NYSE: MSOS), which tracks U.S. cannabis companies, dropped by 15.24% following the DEA’s decision to delay rescheduling cannabis until December 2. The market response reflects growing uncertainty within the sector, as investors had anticipated regulatory clarity that could unlock further growth opportunities for ...
Trump Weighs In on Florida Cannabis Legalization Ballot Measure
LOS ANGELES- Former President Donald Trump recently shared his thoughts on Florida's Amendment 3, a ballot measure that would legalize cannabis for adults 21 and over. In a post on Truth Social, Trump signaled tentative support for the initiative, marking his first public stance on cannabis legislation during this election cycle. Amendment 3, backed by ...
Missouri Hemp Trade Group Files Lawsuit Over Ban on Intoxicating Hemp Products
LOS ANGELES- The Missouri Hemp Trade Association has filed a lawsuit against the Department of Health and Senior Services (DHSS) challenging the state's recent ban on intoxicating hemp products. The lawsuit, filed in Cole County Circuit Court, argues that the DHSS lacks the legal authority to enforce the ban, which stems from an executive order ...
Michigan Cannabis Prices Reach Historic Lows Amid Market Oversupply
LOS ANGELES- In July, cannabis prices in Michigan's legal market dropped to an all-time low, with the average price of an ounce of flower falling to $79.70, according to data from the Michigan Cannabis Regulatory Agency. This marks a nearly 14.5% price decline in 2024, driven by market oversupply, regulatory pressures, and competition from illicit ...
Wisconsin Tribal Groups Launch Campaign to Push for Medical Cannabis Legalization
LOS ANGELES- A new campaign to legalize medical cannabis in Wisconsin has been launched by the Indigenous Cannabis Industry Association and the Wisconsin Tribal Task Force on Cannabis. The initiative, named Wisconsin Wellness, aims to persuade state lawmakers to legalize medical cannabis for conditions such as post-traumatic stress disorder, anxiety, and chronic pain. Wisconsin remains ...
DEA Reclassification of Cannabis Raises Regulatory Questions for States
LOS ANGELES- The U.S. Drug Enforcement Administration (DEA) has initiated steps to reclassify cannabis, potentially shifting it to a status similar to regulated medicines such as Tylenol with codeine or some steroids. This federal change could significantly impact the 26 states where cannabis remains illegal, prompting them to decide whether to ban its sale or ...
atai Life Sciences Reports Q2 2024 Financial Results
LOS ANGELES- atai Life Sciences, a biopharmaceutical company focused on transforming mental health treatment, announced its financial results for the second quarter of 2024 along with updates on its clinical pipeline. The company highlighted significant progress in advancing its VLS-01 and EMP-01 programs, which target treatment-resistant depression (TRD) and social anxiety disorder (SAD), respectively. Dr. ...
Out-of-State Applicants Dominate Minnesota’s Early Cannabis License Applications
LOS ANGELES- Minnesota's newly established cannabis market is attracting significant interest from out-of-state applicants, according to recent data from the Office of Cannabis Management (OCM). Of the 1,817 pre-applications submitted this summer for various cannabis licenses, over half originated from individuals residing outside Minnesota. The state's cannabis law does not mandate residency, allowing out-of-state applicants ...
New York Cannabis Market Report Highlights Progress and Challenges
LOS ANGELES- New York state officials released a comprehensive report this week, reviewing the progress made in the three years since the state's cannabis legalization law was signed by then-Governor Andrew Cuomo in 2021. The Office of Cannabis Management (OCM) and the Cannabis Control Board (CCB) outlined the development of the legal cannabis market, emphasizing ...
Dispensary vs. Experience: Retail Models Disrupting the Cannabis Consumer Journey
LOS ANGELES — Cannabis retail is undergoing a significant transformation, moving beyond traditional dispensary models to offer more immersive and meaningful customer experiences, represented in the rising introduction of consumption lounges. Companies like NorCal's Urbana are at the forefront of this shift, demonstrating how to deeply connect with a diverse consumer base. Insights from Urbana's ...
Experts Advocate for Rescheduling Psilocybin to Unlock Mental Health and Economic Benefits
LOS ANGELES- A group of academics from The University of Manchester, supported by Policy@Manchester, has submitted evidence advocating for the rescheduling of psilocybin under the UK's drug laws. The submission, authored by Professor Jo Neill, Dr. Sara Tai, and Dr. John Gigg, highlights the therapeutic potential of psilocybin and other psychedelics in treating severe mental ...
Growlink Secures $2 Million Seed Funding to Enhance AI Capabilities and Integration Platform
LOS ANGELES- Growlink, a provider of advanced Internet of Things (IoT) controllers, sensors, and cultivation software for controlled environment agriculture, has closed a $2 million seed financing round led by Casa Verde Capital. The funding will enable Growlink to expand its AI capabilities and enhance its third-party integration platform, ensuring compatibility with various hardware systems. ...
The Battle Over Recreational Cannabis Legalization Heats Up
LOS ANGELES- The debate around legalizing recreational cannabis continues to draw support and opposition from various societal factions. Central to this contentious issue is a push to amend state laws to allow adults aged 21 and over to legally possess and purchase cannabis. This article examines the latest developments in one state’s efforts toward this ...
