Legal Affairs
Week in Review: Cannabis & Psychedelics Industry Highlights
LOS ANGELES – Investors and operators tuned in closely over the past fortnight as political signals rippled through boardrooms and trading floors, underscoring the sector's knack for turning headlines into hard dollars. Federal nods to ...
Target Quietly Enters the THC Beverage Market — As Republicans Push to Recriminalize Hemp
LOS ANGELES- Target — one of America’s largest retailers — has quietly begun stocking THC-infused beverages at select stores in Minnesota, signaling one of the most significant steps yet in the mainstreaming of Cannabis consumer ...
Thai PM Renews Drug Crackdown Vow as Cannabis Sector Awaits Policy Clarity
BANGKOK – Prime Minister Anutin Charnvirakul, who once spearheaded Thailand's shift toward Cannabis tolerance, has recommitted his administration to aggressive narcotics enforcement, promising to "win the war on drugs" in a move that underscores the ...
Australia’s Medicinal Cannabis Imports Hit Record Highs
SYDNEY – Figures released this week by Australia's Office of Drug Control paint a picture of robust expansion in the country's regulated Cannabis sector, with imports leading the charge alongside steady advances in domestic output ...
California Reinstates 15% Cannabis Excise Tax Through 2028
LOS ANGELES – A measure signed by Governor Gavin Newsom last month took effect on Wednesday, dialing back California's Cannabis excise tax to 15% and holding it steady at that level until at least the ...
Trump Video Fuels Cannabis Stock Surge, Yet Analysts Question Depth of Policy Shift
LOS ANGELES – A recent video posted by President Donald Trump on Truth Social, touting support for CBD products under the Farm Bill, triggered a sharp but fleeting uptick in valuations for major multi-state Cannabis ...
Ex-Curaleaf Executive Files Suit Alleging Ignored Warnings on Inventory Shortfalls at Illinois Facility
LOS ANGELES – A former compliance director for Curaleaf Holdings Inc. has filed a federal lawsuit accusing the Cannabis MSO of overlooking repeated alerts about missing inventory and unlicensed pesticide applications at its Illinois cultivation ...
Week in Review: Cannabis & Psychedelics Industry Highlights
LOS ANGELES – Investors and operators tuned in closely over the past fortnight as political signals rippled through boardrooms and trading floors, underscoring the sector's knack for turning headlines into hard dollars. Federal nods to ...
Target Quietly Enters the THC Beverage Market — As Republicans Push to Recriminalize Hemp
LOS ANGELES- Target — one of America’s largest retailers — has quietly begun stocking THC-infused beverages at select stores in Minnesota, signaling one of the most significant steps yet in the mainstreaming of Cannabis consumer ...
Thai PM Renews Drug Crackdown Vow as Cannabis Sector Awaits Policy Clarity
BANGKOK – Prime Minister Anutin Charnvirakul, who once spearheaded Thailand's shift toward Cannabis tolerance, has recommitted his administration to aggressive narcotics enforcement, promising to "win the war on drugs" in a move that underscores the ...
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 ...
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 ...
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 ...
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 ...
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 ...
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, ...
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, ...
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 ...
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 ...
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 ...
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 ...
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 ...
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 ...
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). ...
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 ...
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 ...
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 ...
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 ...
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 ...
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 ...
The Rise of Cannabis Beverages: Trends and Market Insights for 2025
LOS ANGELES - Cannabis beverages are gaining traction in the health and wellness industry as a new way to deliver cannabinoid benefits. As 2025 approaches, this market is projected to grow significantly, evolving consumer preferences ...
Poland’s Medical Cannabis Prescriptions Decline Amid Regulatory Changes
LOS ANGELES- Recent regulatory changes in Poland have led to a significant decrease in medical cannabis prescriptions. In August 2023, the Ministry of Health implemented a regulation requiring physicians to verify a patient's medication history ...
High Tide Acquires Majority Stake in Germany’s Purecan GmbH
LOS ANGELES- Canadian cannabis retailer High Tide Inc. has announced a definitive agreement to acquire a 51% stake in German pharmaceutical wholesaler Purecan GmbH for approximately €4.8 million. The transaction comprises €2.4 million in High ...
MindMed Advances Clinical Programs and Secures Significant Funding
LOS ANGELES- Mind Medicine has released its 2025 Corporate Presentation, detailing strategic initiatives and significant financial developments. The company has secured a substantial $250 million equity investment, bolstering its cash reserves to approximately $295.3 million ...
Leafly Holdings Delisted from Nasdaq Amid Financial Challenges
LOS ANGELES- Leafly Holdings, Inc, a online cannabis discovery platform, was delisted from the Nasdaq Stock Market on January 17, 2025, after failing to meet the exchange's minimum net income requirement of $500,000 from continuing ...
