Arizona Funds Nation’s First Whole-Mushroom Psilocybin Trial Targeting PTSD in Veterans & First Responders
PHOENIX – State officials in Arizona have authorized and financed what amounts to the country's initial controlled study of whole psilocybin mushrooms as a treatment for post-traumatic stress disorder (PTSD) among police officers, firefighters, and ...
Bioxyne Reports Record Revenue, Yet Cash Outflows Climb on Expansion Push
SYDNEY – Bioxyne Limited, an Australian life sciences and wellness products company, posted its highest quarterly revenue on record for the period ended September 30, with sales reaching A$14.1 million, a 210% jump from the ...
Kansas Poll Shows Broad Support for Cannabis Reform
TOPEKA – A recent survey of Kansas residents highlights growing public enthusiasm for Cannabis policy changes, with nearly seven in ten adults endorsing medical use and close to six in ten favoring recreational access. A ...
OPINION: The People Have Spoken: It’s Time to End Federal Cannabis Prohibition (and Release the Epstein Files)
LOS ANGELES- With 87% of Americans supporting Cannabis legalization — and nearly 80% demanding the release of the Epstein files — public consensus on reform and transparency has never been stronger. The question now is ...
How Professional Services Firms That Serve Cannabis Can Thrive in the Wellness Industry
NEW YORK- Professional service providers — from accountants and attorneys to brand strategists and tech consultants — have played an indispensable role in legitimizing and professionalizing the Cannabis sector. These same firms now have a ...
Curaleaf Executive Vice Chairman Adopts Automated Share Sales Plan
STAMFORD – Joseph F. Lusardi, executive vice chairman of Curaleaf Holdings Inc., has put in a place an automatic securities disposition plan (ASDP) to sell company shares, a move designed to handle tax obligations tied ...
Oregon Invites Input on Psilocybin Service Center Regulations Through New Advisory Panel
SALEM – State health officials in Oregon are seeking participants for a rules advisory committee that will shape permanent guidelines on the temporary use of licensed Psilocybin Service Centers, as applications close in less than ...
Week in Review: Cannabis & Psychedelics Industry Highlights
LOS ANGELES – Executives and operators in the Cannabis and psychedelics sectors wrapped up another fortnight with a mix of regulatory headwinds, financial maneuvers, and market validations that underscore the sector's resilience. From bipartisan efforts ...
MariMed Strikes Licensing Deal to Bring Edibles Line to New York Market
NORWOOD – MariMed Inc. has signed a licensing agreement with Farm 2 Hand, LLC, a licensed cultivator and processor in New York, to roll out its lineup of edibles across the state starting in 2026. ...
Germany Boosts Medical Cannabis Import Cap
BERLIN – German health authorities have increased the annual limit on medical Cannabis imports to 192.5 metric tons, in an effort to keep up with the rapid growth in patient demand while the country navigates ...
Minnesota Residents Sue for Right to Sell Home-Grown Cannabis
LOS ANGELES- In Minnesota, a legal battle is unfolding as four individuals who legally cultivate cannabis have initiated a lawsuit against state cannabis regulators. The plaintiffs argue that the Minnesota Constitution permits them to sell ...
Idaho Medical Cannabis Initiative Gains Momentum Amid New Signature Drive
LOS ANGELES- In Idaho, one of the few states without any legal cannabis framework, the advocacy group Kind Idaho is making strides to place a medical cannabis initiative on the 2024 ballot. The organization faces ...
Product Recall in Arizona Due to Contamination Concerns
LOS ANGELES- The Arizona Department of Health Services has issued a recall for a product known as Onion Bhaji after laboratory tests detected possible contamination with Aspergillus, a fungus known to cause allergic reactions or ...
Massachusetts Orders Cease on THCV Products by Hemp Company
LOS ANGELES- The Massachusetts Department of Agricultural Resources (MDAR) has issued a cease and desist order to Bay State Extracts, a state-licensed hemp business, directing it to stop the production and sale of products containing ...
Ohio to Award Dual-Use Cannabis Licenses by June
LOS ANGELES- Ohio is set to begin the transition to allow existing medical cannabis dispensaries to sell cannabis recreationally. The state's Joint Committee on Agency Rule Review has approved regulations for dual-use licenses, with applications ...
A Delays Hearing on Psychedelic Compounds
LOS ANGELES- The Drug Enforcement Administration (DEA) has postponed a crucial administrative hearing originally scheduled for June on the proposed ban of two psychedelic compounds, 2,5-dimethoxy-4-iodoamphetamine (DOI) and 2,5-dimethoxy-4-chloroamphetamine (DOC). This decision follows a legal ...
U.S. Policy Shifts on Cannabis and Psilocybin for Chronic Pain Management
LOS ANGELES- In a landmark policy shift, the U.S. Drug Enforcement Agency (DEA) has announced plans to reclassify cannabis from a Schedule I to a Schedule III controlled substance, a category that includes less restricted ...
Global Landscape of Recreational Cannabis Legalization as of 2024
LOS ANGELES- As of April 2024, the global landscape for recreational cannabis legalization remains limited, with only nine countries having fully legalized its use nationwide, according to Visual Capitalist. Notably, Germany recently joined Malta and ...
Reunion Neuroscience Secures $103 Million for Development of Psychedelic Drug Therapy
LOS ANGELES- Reunion Neuroscience Inc., a developer of psychedelic drug treatments, has successfully raised $103 million in a Series A financing round. The round was co-led by MPM BioImpact and Novo Holdings, with additional participation ...
Thailand’s Prime Minister Proposes Recriminalization of Cannabis
LOS ANGELES - Thailand’s Prime Minister, Srettha Thavisin, announced on social media his intention to recriminalize cannabis, permitting its use solely for medicinal purposes. This move aligns with earlier suggestions from the country’s health minister ...
South Dakota Moves Toward Adult-Use Cannabis Legalization
LOS ANGELES- South Dakotans for Better Marijuana Laws (SDBML), a cannabis advocacy group, has recently submitted 29,030 signatures to South Dakota's Secretary of State in a bid to get an adult-use cannabis initiative on the ...
Vermont Legislature Passes Overdose Prevention Center Funding
LOS ANGELES -The Vermont legislature has recently passed a measure that aims to address the state's overdose crisis by establishing an overdose prevention center in Burlington. The Senate approved the proposal on May 2 with ...
Green Thumb Industries Reports First Quarter Results
NEW YORK- Green Thumb Industries Inc., a cannabis company, reported a net income of $31 million for the first quarter of 2023. Despite a slight decline from the fourth quarter revenue of $278 million, the ...
Canadian Medical Cannabis Exports Hit Record High Amid Domestic Decline
LOS ANGELES- Canada's medical cannabis industry has achieved a new milestone in exports, reaching a record CA$218 million in the fiscal year 2023-24, a substantial increase from CA$8 million in 2019-20. This surge is attributed ...
New York Faces Challenges with Illicit Cannabis Shops
NEW YORK- New York's legal cannabis market has faced significant hurdles since the state legalized adult use in March 2021. The market's expansion has been stymied by numerous lawsuits and changes in leadership, contributing to ...
New Hampshire Senate Committee Approves Cannabis Legalization Bill
LOS ANGELES- For the first time, a Senate committee in New Hampshire has approved a cannabis legalization bill, marking a significant milestone in the state's legislative history. House Bill 1633, which recently passed the Senate ...
New Jersey Cannabis Sales Hit Record High Despite Slowing Growth
NEW YORK- Cannabis retailers in New Jersey have achieved a new quarterly sales record of $201 million in the first three months of 2024. This represents a notable 38% increase in year-over-year growth and sets ...
Decline in Medical Cannabis Registrations in New Jersey and New Mexico
LOS ANGELES- Recent reports have highlighted a significant decline in the number of registered medical cannabis patients in New Jersey and New Mexico, following the launch of adult-use cannabis markets in both states. According to ...
UK Study Finds Psilocybin Effective in Treating Depression
LOS ANGELES- A recent study conducted by researchers in the United Kingdom has found promising results for psilocybin, the active psychedelic compound in "magic mushrooms," as a treatment for depression. The study, which was reported ...
Illinois Expands Cannabis Retail Licenses to Enhance Social Equity
LOS ANGELES- The Illinois state government has introduced an additional 35 social equity cannabis retail licenses to its recreational market, a move announced late last week, with expectations to issue another 13 in the forthcoming ...
Decline in Medical Cannabis Patients Following Adult-Use Market Launches
LOS ANGELES- Recent data from New Jersey and New Mexico has highlighted a significant decrease in the number of registered medical cannabis patients, coinciding with the establishment of adult-use cannabis markets in these states. Reports ...
New Initiative Explores Cultural and Societal Impacts of Psychedelics
LOS ANGELES- The University of California, Berkeley, and Harvard University have launched a groundbreaking collaborative initiative titled "Psychedelics in Society and Culture" aimed at expanding research into the cultural, societal, and humanistic aspects of psychedelics. ...
Missouri Court Upholds Local Cannabis Sales Taxes
LOS ANGELES- A recent ruling by St. Louis County Circuit Judge Brian May has affirmed the authority of Missouri cities and counties to impose their own sales taxes on cannabis dispensaries, in addition to the ...
Alaska House Advances Legislation to Prepare for Psychedelic-Assisted Therapy
LOS ANGELES- The Alaska House of Representatives has passed legislation aimed at preparing the state for the potential federal approval of psychedelic-assisted therapies. The measure, known as House Bill 228 (HB 228), was approved with ...
Cannabis Industry Licensing Trends
LOS ANGELES- The rapid expansion of the cannabis industry in North America has shown signs of cooling in the first quarter of 2024, with a noticeable decline in the number of both active licenses and ...
