Legal Affairs
OPINION: Careful What You Wish For, You Might End Up With A 12-Inch Pianist
LOS ANGELES- The regulated cannabis industry should be collectively objecting to the language in the Big Beautiful Bill that effectively makes intoxicating hemp products illegal in 12 months. They should be screaming from the roof ...
Flower by Edie Parker Teams Up with Verano for Florida Cannabis Debut, Spotlights Rapper JT in Promo Campaign
MIAMI – Flower by Edie Parker, a female-founded, premium Cannabis brand known for its vibrant designs, has struck an exclusive deal with Verano Holdings Corp. to roll out its products across the Sunshine State's medical ...
AbbVie Reveals $900M Upfront Payment in Psychedelic Deal, Signaling Strong Bet on Bretisilocin
CHICAGO – AbbVie Inc. disclosed in a recent securities filing that it handed over $900 million in cash at the outset of its acquisition of bretisilocin, the experimental psychedelic compound acquired from Gilgamesh Pharmaceuticals aimed ...
Week In Review: Cannabis & Psychedelics Industry Highlights
LOS ANGELES – Wrapping up September 2025, it's clear the U.S. Cannabis sector is buzzing with a mix of encouraging expansion signs and sobering challenges, ranging from record-breaking sales in emerging markets to the frustrating ...
Colorado Wholesale Cannabis Prices Hit Record Low
DENVER – Wholesale prices for Cannabis flower in Colorado have sunk to $649 per pound, matching the state's lowest level on record, even as the number of licensed growers has shrunk by a quarter over ...
Washington State Regulators Plan to Label Cannabis with Harvest & Processing Dates
OLYMPIA – State regulators in Washington are advancing a proposal to reinstate harvest and processing dates on labels for recreational Cannabis products, a requirement that could equip buyers with clearer indicators of freshness amid concerns ...
FinCEN Reveals Steady Banking Access for Cannabis Businesses Despite Persistent Federal Barriers
WASHINGTON – A recent report from the Financial Crimes Enforcement Network shows that 816 banks and 182 credit unions filed suspicious activity reports (SARs) related to Cannabis businesses through the end of 2024, signaling stable ...
OPINION: Careful What You Wish For, You Might End Up With A 12-Inch Pianist
LOS ANGELES- The regulated cannabis industry should be collectively objecting to the language in the Big Beautiful Bill that effectively makes intoxicating hemp products illegal in 12 months. They should be screaming from the roof ...
Flower by Edie Parker Teams Up with Verano for Florida Cannabis Debut, Spotlights Rapper JT in Promo Campaign
MIAMI – Flower by Edie Parker, a female-founded, premium Cannabis brand known for its vibrant designs, has struck an exclusive deal with Verano Holdings Corp. to roll out its products across the Sunshine State's medical ...
AbbVie Reveals $900M Upfront Payment in Psychedelic Deal, Signaling Strong Bet on Bretisilocin
CHICAGO – AbbVie Inc. disclosed in a recent securities filing that it handed over $900 million in cash at the outset of its acquisition of bretisilocin, the experimental psychedelic compound acquired from Gilgamesh Pharmaceuticals aimed ...
Colorado Governor Jared Polis Applauds Legalization of Cannabis and Psychedelics
LOS ANGELES--In a recent interview with John Stossel, Colorado Governor Jared Polis expressed his positive views on the state's moves to legalize cannabis and psychedelics, stating that the experience has been "very good." Governor Polis, ...
Pelorus Capital Group Achieves Historic Milestone with First Cannabis-Linked Real Estate Securitization
LOS ANGELES-- In a groundbreaking announcement today, Pelorus Capital Group, a prominent player in the specialty-use cannabis real estate lending market, has successfully priced the first-ever securitization for cannabis-linked real estate. Utilizing commercial mortgage-backed securities ...
Canadian LP. Acquisition of State-of-the-Art Cannabis Cultivation and Processing Facility Announced
LOS ANGELES-- After months of negotiations, a purchase agreement has been signed for the acquisition of a prominent indoor cannabis cultivation and processing facility from a public Canadian LP. The facility is considered one of ...
Illinois Adult-Use Cannabis Sales in June Hit $136 Million, Third Highest on Record
LOS ANGELES-- In June, adult-use cannabis sales in Illinois reached an impressive milestone, totaling $136 million, according to data from the Cannabis Regulation Oversight Officer (CROO). This marked the highest sales total of the year ...
New York Officials Shut Down Unlicensed Cannabis Shops in Western Counties
NEW YORK-- New York state authorities carried out a crackdown on what they deemed as seven unlicensed cannabis dispensaries in the western region on Monday. The establishments, known as the "I'm Stuck" shops, located in ...
Illinois Enacts Law to Support Smooth Reintegration of Formerly Incarcerated Individuals
LOS ANGELES--Illinois has taken a significant step towards facilitating the reintegration of individuals who have been released from prison into society. Senate Bill 423, signed into law by Governor J.B. Pritzker (D) on Friday, aims ...
Arkansas Enacts Law Allowing Medical Cannabis Patients to Obtain Concealed Carry Licenses
LOS ANGELES-- On Tuesday, a new law officially took effect in Arkansas, clarifying that medical cannabis patients in the state can obtain concealed carry licenses for firearms. The bill, signed by Governor Sarah Huckabee Sanders ...
Study Reveals Legal Ambiguities in Hemp Delta-9 THC Products, Calls for Regulatory Revisions
LOS ANGELES-- A recent lab study conducted by cannabis consumer research company CBD Oracle and InfiniteCAL Labs has shed light on the complexities surrounding hemp delta-9 THC products. The study analyzed 53 popular hemp delta-9 ...
Cybin Inc. Announces Pricing of Public Offering to Advance Clinical Programs
LOS ANGELES-- Cybin Inc. a company in the psychedelics industry, revealed the pricing of its overnight marketed public offering, aimed at funding the progression of its clinical programs, including CYB003 and CYB004. The company plans ...
Senator John Hickenlooper Refiles Bill to Lay Groundwork for Federal Cannabis Legalization
WASHINGTON — Senator John Hickenlooper (D-CO) has reintroduced a bill that seeks to pave the way for federal marijuana legalization. Titled the Preparing Regulators Effectively for a Post-Prohibition Adult-Use Regulated Environment Act (PREPARE) Act, the ...
Massachusetts Cannabis Regulator to Depart; Maryland Governor Appoints Health Experts
LOS ANGELES--Shawn Collins, the executive director of the Massachusetts Cannabis Control Commission, is reportedly set to resign from his position by the end of this year. Although Collins has not yet officially confirmed his departure, ...
Oklahoma Regulators Uncover Thousands of Untagged Cannabis Plants and Arrest Licensee
LOS ANGELES-- Oklahoma's medical cannabis industry faced a significant setback when regulators discovered approximately 4,000 untagged cannabis plants and over 630 pounds of untagged cannabis at a licensed grow facility. The discovery, made during an ...
Filament Health and Jupiter Acquisition Corp. Strike NASDAQ Deal for Psychedelics Advancement
LOS ANGELES-- Canadian clinical-stage natural psychedelics firm Filament Health has taken a significant step forward by signing a definitive agreement with Special Purpose Acquisition Company (SPAC) Jupiter Acquisition Corp. to establish a new public company ...
Minnesota’s Cannabis Legalization Takes Effect, Allowing Possession and Cultivation for Adults 21 and Older
MINNEAPOLIS — On Tuesday, Minnesota officially enacted its cannabis legalization law, granting adults aged 21 and older the right to possess and grow cannabis for personal use. This legalization, passed by lawmakers earlier this year ...
New Study Reveals Real-Time Brain Changes After Ketamine Use
LOS ANGELES-- A groundbreaking study, published in the Nature Journal Scientific Reports and sponsored by psychedelics firm Cybin Inc. (CYBN), demonstrates Kernel's Flow technology system's capability to capture and analyze brain changes following the administration ...
The Hive: What’s The Buzz’ In The Cannabis Hive?
LOS ANGELES–Welcome back to the sizzling world of cannabis intrigue and whispers. Get ready to ignite those rolling papers as we dive into a fresh batch of scintillating tales. Move over, CEO love triangle – ...
New Legislation Marks a Milestone in Cannabis Legalization in Minnesota
NEW YORK- On Tuesday, August 1st, a groundbreaking legislation allowing adults to possess and home-cultivate personal-use quantities of cannabis took effect in Minnesota. The move makes Minnesota the 23rd state to legalize and regulate the ...
Under Armour Signs $9 Million Deal with Hemp Black for Sustainable Yarn Supply
LOS ANGELES-- Hemp Black, a subsidiary of Australia-based Ecofibre, has entered into a significant supply agreement with global sports apparel brand Under Armour Inc. The deal, valued at $9 million annually, will involve Hemp Black ...
Psyence Group Inc. Reports Financial Losses Driven by Research and Development Costs
NEW YORK-- Psyence Group Inc. a psychedelic medicine and fungiculture company headquartered in British Columbia, recently disclosed its financial results for the fiscal year ending March 31, highlighting a surge in losses primarily attributed to ...
Massachusetts Cannabis Social Equity Fund Remains Unfunded a Year After Creation
LOS ANGELES-- Almost a year since its inception, the Massachusetts fund designed to promote social equity in the state's cannabis industry has yet to receive funding, as reported by the Boston Business Journal, citing minutes ...
Cresco & Columbia Care Terminate Their Proposed $2 Billion Merger
NEW YORK-In a significant development within the burgeoning cannabis sector, the much-anticipated $2 billion merger between cannabis producers Cresco Labs and Columbia Care Inc has been called off. Announced in March of the previous year, ...
Housing Works Cannabis Co. Achieves Impressive $12 Million in Sales in First Six Months
NEW YORK - Housing Works Cannabis Co., the inaugural adult-use retailer to establish its presence in New York, has reported a remarkable $12 million in sales during the initial six months of operations. The nonprofit ...
Psilocybin Combined with Psychotherapy Shows Potential as Anorexia Nervosa Treatment
LOS ANGELES-- In a groundbreaking step towards finding effective treatments for anorexia nervosa (AN), a phase 1 clinical trial investigated the use of psilocybin, the primary psychoactive compound in hallucinogenic mushrooms, in combination with psychotherapy. ...
Ascend Wellness Plans to Raise $7 Million in Private Placement Offering for Strategic Acquisitions
NEW YORK — Ascend Wellness, a prominent cannabis multistate operator (MSO), is set to embark on a private placement offering to raise $7 million in capital. As part of the equity financing terms, the New ...
California Proposal Seeks to Establish $5 Billion Psychedelics Research Agency
LOS ANGELES— A group of strategists from California has formally introduced a proposed initiative known as the "TREAT California Act." Unlike traditional efforts focused on advocating for direct legalization, this initiative aims to create a ...
