News
Paraguay Considers Legalizing Recreational Cannabis
LOS ANGELES- Paraguay is evaluating the legalization of recreational cannabis, with the Senate scheduled to vote on a proposal in March 2025. The initiative aims to permit the sale of cannabis in regulated dispensaries, under the supervision of the National Directorate of Health Surveillance and Narcotics, as well as the National Directorate of Tax Revenue. ...
Prospects of Executive Action on Cannabis Under the Trump Administration
LOS ANGELES- As of early February 2025, there is no indication that President Donald Trump plans to sign an executive order directly impacting the cannabis industry. While President Trump has previously expressed support for reclassifying cannabis from a Schedule I to a Schedule III substance under the Controlled Substances Act—a move that would acknowledge its ...
Frontier Risk Group Secures $3 Million in Seed+ Funding
LOS ANGELES- Frontier Risk Group, a company specializing in insurance solutions for the cannabis industry, has announced the successful completion of a $3 million Seed+ funding round. This round was led by Casa Verde, a venture capital firm focused on the cannabis sector, with significant participation from existing investors. The funding will support Frontier Risk ...
Nanotechnology-Enhanced CBD Demonstrates Neuroprotective Effects in Retinal Study
LOS ANGELES- A study published in the European Journal of Pharmacology investigated the neuroprotective properties of cannabidiol (CBD) delivered via nanotechnology in an animal model of retinal excitotoxicity. Researchers from the University of Catania, University of Crete, University of Enna, and University of Campania conducted the study. The study utilized rats with retinal damage induced ...
Texas Lieutenant Governor Prioritizes THC Ban in 2025 Legislative Agenda
LOS ANGELES- Lieutenant Governor Dan Patrick has designated the prohibition of all consumable tetrahydrocannabinol (THC) products as a primary objective for Texas' 2025 legislative session. Senate Bill 3, introduced on January 29, 2025, aims to ban all forms of consumable THC in the state. This initiative responds to concerns that retailers have exploited existing agricultural ...
Maine Proposes Mandatory Testing for Medical Cannabis
LOS ANGELES- A new bill introduced in the Maine Legislature seeks to implement mandatory testing for medical cannabis products, aligning them with the state's existing standards for recreational cannabis. Sponsored by Representative Marc Malon and supported by Governor Janet Mills, the proposed legislation would require medical cannabis to be tested for contaminants such as pesticides, ...
Week In Review: Hawaii Lawmakers Renew Push to Legalize Adult-Use Cannabis with Constitutional Amendment Proposal; PharmaCann Defaults on Innovative Industrial Properties Leases; Florida’s Cannabis Market Sees Shift as Smaller Operators Capture Market Share
LOS ANGELES — Welcome to the far too-exciting world of cannabis and psychedelics, where it’s a tale of two markets with some states doing amazingly well. And some, well...they're not doing so well (hello New York). Let's get to it! Cannabis Industry Highlights #1) Hawaii Lawmakers Renew Push to Legalize Adult-Use Cannabis with Constitutional Amendment ...
What You Need to Know About Mergers, Acquisitions, and Consolidation
LOS ANGELES—Every CFO needs to know that navigating mergers, acquisitions, and consolidation in cannabis and psychedelics industries requires a deep understanding of business valuation complexities and strategic deal-making. Effective M&A strategies are crucial to driving growth, expanding market share, increasing operational efficiency, ultimately contributing to the continued evolution of the industry. Valuation Complexities Valuing cannabis ...
A Celebration of Cannabis Culture and Commerce: Hall of Flowers Returns to Ventura
LOS ANGELES-Hall of Flowers, one of America’s premier cannabis trade shows, founded in 2018, is poised to make a grand return to the Ventura County Fairgrounds on March 19-20, 2025. This event has become a cornerstone for cannabis businesses and consumers alike, offering a unique platform that bridges the gap between industry professionals and the ...
What You Need to Know About Capital Investment Strategies
LOS ANGELES—Every CFO needs to know that strategic capital investment in the cannabis and psychedelic industries requires a nuanced approach that balances innovation, risk management, and potential. As the market continues to transform and unfold, understanding where and how to allocate capital can spell the difference between merely surviving and truly thriving in a highly ...
Indiana House Blocks Cannabis Reclassification
LOS ANGELES- On January 27, 2025, the Indiana House of Representatives voted down an amendment to House Bill 1056 that sought to remove cannabis from the state's list of Schedule I controlled substances. The amendment, proposed by Representative Kyle Miller (D-Fort Wayne), aimed to reclassify cannabis, thereby initiating discussions on its potential legalization within Indiana. ...
Rastafarians Lead Caribbean Cannabis Boom
LOS ANGELES- In recent years, St. Vincent and the Grenadines (SVG) has witnessed a transformative shift in its cannabis industry, particularly benefiting Rastafarian farmers who have long regarded the plant as sacred. Historically, these cultivators faced significant challenges, including the destruction of their crops during U.S.-backed anti-narcotics operations. As cannabis gains global recognition for its ...
Florida’s Cannabis Market Sees Shift as Smaller Operators Capture Market Share
LOS ANGELES- In Florida's evolving medical cannabis landscape, smaller operators are making significant inroads, challenging the dominance of established multi-state operators (MSOs). Despite the state's stringent vertical integration requirements—which mandate that Medical Marijuana Treatment Centers (MMTCs) oversee cultivation, processing, and dispensing—these emerging players are finding ways to thrive. As of January 2025, Florida's medical cannabis ...
Hawaii Lawmakers Renew Push to Legalize Adult-Use Cannabis with Constitutional Amendment Proposal
LOS ANGELES- Hawaii lawmakers introduced House Bill 519, proposing a constitutional amendment to legalize recreational cannabis for adults aged 21 and over. The bill seeks to amend Article IX of the Hawaii State Constitution, allowing individuals to possess and use cannabis, while granting the legislature authority to regulate its possession, distribution, use, and taxation. This ...
Tacoma City Council Decriminalizes Natural Psychedelics
LOS ANGELES- The Tacoma City Council in Washington State unanimously approved a resolution to decriminalize natural psychedelics, including substances containing tryptamines, phenethylamines, and indolamines. This legislative action designates the enforcement of laws against these entheogenic substances as among the city's lowest law enforcement priorities. The resolution also advocates for decriminalization at both the state and ...
Rhode Island Proposes Psilocybin Legalization and State-Regulated Therapy Program Pending Federal Rescheduling
LOS ANGELES- In January 2025, Rhode Island lawmakers introduced House Bill 5186, aiming to legalize psilocybin possession and cultivation for personal use. The bill proposes that individuals be allowed to cultivate psilocybin within their residences for personal use. Additionally, contingent upon the U.S. Food and Drug Administration (FDA) rescheduling psilocybin and expanding its access program, ...
Cannabis Legalization Measures Face Challenges in 2024 Elections
LOS ANGELES- In the 2024 elections, marijuana legalization measures faced significant challenges across multiple states. Notably, only Nebraska succeeded in relaxing restrictions by approving two ballot measures that legalized medical cannabis and established a regulatory framework for its use. Conversely, voters in Florida, North Dakota, and South Dakota rejected proposals to legalize recreational marijuana. In ...
PharmaCann Defaults on Innovative Industrial Properties Leases
LOS ANGELES- On December 19, 2024, PharmaCann Inc., a privately held and vertically integrated cannabis company, defaulted on its December rent obligations for six of the eleven properties leased from Innovative Industrial Properties, Inc. (IIP). These properties are located in Illinois, Massachusetts, Michigan, New York, Ohio, and Pennsylvania, with the unpaid rent totaling $4.2 million. ...
Awakn Life Sciences Secures $535,000 Credit Facility to Advance Addiction Treatment Programs
LOS ANGELES - Awakn Life Sciences Corp. a clinical-stage biotechnology company focusing on treatments for substance use and mental health disorders, has secured an unsecured credit facility of up to US$535,000 from an arm's length creditor. This facility allows the company to draw funds in multiple advances, with the principal due on December 5, 2026, ...
Massachusetts Adult-Use Cannabis Sales Reach Record $1.64 Billion in 2024
LOS ANGELES- In 2024, Massachusetts' adult-use cannabis industry achieved a record $1.64 billion in gross sales, marking a significant milestone since the state's first recreational dispensaries opened in November 2018. The Massachusetts Cannabis Control Commission (CCC) reported that this surge in sales contributed substantially to state and local tax revenues. Notably, the industry experienced its ...
Nebraska Medical Cannabis Bills Propose Vertical Integration with License Caps
LOS ANGELES- Nebraska lawmakers have introduced legislative proposals to implement the state's recently approved medical cannabis laws. The proposed regulations include provisions for vertical integration and impose caps on the number of licenses issued. Under the proposed framework, the state would permit a limited number of vertically integrated medical cannabis businesses, with a cap of ...
European Citizens Launch Initiative to Promote Psychedelic-Assisted Therapies
LOS ANGELES- A coalition of healthcare professionals, academics, and advocates has initiated the PsychedeliCare European Citizens' Initiative (ECI), aiming to enhance access to psychedelic-assisted therapies across the European Union. The campaign seeks to collect one million signatures from at least seven EU member states by January 2026, compelling the European Commission to consider legislative action. ...
New York’s Cannabis Tax Revenue Surges Amid Market Expansion
LOS ANGELES- New York State is experiencing a significant increase in tax revenue from legal cannabis sales. For the fiscal year ending March 31, 2025, the state anticipates collecting $161.8 million, a fourfold increase from the previous year. Projections for the following fiscal year estimate revenues of $248 million, with expectations to reach $374 million ...
Week In Review: Ascend Wellness Secures $15 Million in Private Placement to Bolster Growth Initiatives; Virginia Senate Committee Advances Bill to Legalize Recreational Cannabis Sales; Leafly Holdings Delisted from Nasdaq Amid Financial Challenges
LOS ANGELES — Welcome to the far too-exciting world of cannabis and psychedelics, where it’s a tale of two markets with some states doing amazingly well. And some, well...they're not doing so well (hello New York). Let's get to it! Cannabis Industry Highlights #1) Ascend Wellness Secures $15 Million in Private Placement to Bolster Growth ...
Regulatory Challenges for Hemp Beverages in the USA
LOS ANGELES - The hemp beverage industry in the United States is growing rapidly, driven by consumer demand for wellness-focused and sustainable alternatives to traditional drinks. According to Fortune Business Insights, the U.S. cannabis beverage market is projected to reach $81.44 billion by 2032, supported by the legalization of cannabis products in several states. Despite ...
