Legal Affairs
The DEA’s Time‑Warp Appointment: Terrance Cole and the Revival of “Reefer Madness”
WASHINGTON, D.C. –Terrance Cole, the newly confirmed Drug Enforcement Administration (DEA) Administrator, brings a worldview rooted in 1980s-era drug hysteria—one that dismisses decades of research, economic gains from cannabis legalization, and evolving public opinion. ...
Texas Governor Backs Regulation Over Ban in Hemp THC Showdown
DALLAS —Texas Governor Greg Abbott has drawn a firm line in the sand when it comes to the future of the hemp industry in the Lone Star State. In a public statement on July 22, ...
Single Psilocybin Dose Shows Promise in Easing OCD Symptoms, Study Finds
LOS ANGELES – In a pioneering study, researchers from the University of Hertfordshire and Imperial College have uncovered the potential of psilocybin to alleviate symptoms of obsessive-compulsive disorder (OCD). Published in Comprehensive Psychiatry on July ...
Challenges Emerge Over Kentucky’s Medical Cannabis License Lottery
LOS ANGELES- A coalition of Kentucky-based businesses has filed legal proceedings challenging the fairness and constitutionality of the state’s April 2024 medical cannabis license lottery. The lawsuit, lodged in Jefferson Circuit Court on June 27, ...
Aegis Capital Maintains Buy Rating on atai Life Sciences with $8 Target
LOS ANGELES- Aegis Capital has reaffirmed its Buy rating on atai Life Sciences N.V. (NASDAQ: ATAI), maintaining a price target of $8 following the release of positive Phase 2b results for BPL-003, the company’s investigational ...
ICE Raids California Cannabis Farms as Budget Swells and Allegations Mount
CARPINTERIA, Calif. — In a sweeping operation that has stirred legal, political, and cultural tensions across California, federal immigration authorities executed high-profile raids on two cannabis farms operated by Glass House Brands, one of the ...
Legal Status of Cannabis in Europe
LOS ANGELES- A growing number of European countries now permit the use, cultivation or sale of cannabis under regulated conditions, driven by evolving public policy and emerging economic opportunity. Germany legalized limited recreational use on ...
The DEA’s Time‑Warp Appointment: Terrance Cole and the Revival of “Reefer Madness”
WASHINGTON, D.C. –Terrance Cole, the newly confirmed Drug Enforcement Administration (DEA) Administrator, brings a worldview rooted in 1980s-era drug hysteria—one that dismisses decades of research, economic gains from cannabis legalization, and evolving public opinion. ...
Texas Governor Backs Regulation Over Ban in Hemp THC Showdown
DALLAS —Texas Governor Greg Abbott has drawn a firm line in the sand when it comes to the future of the hemp industry in the Lone Star State. In a public statement on July 22, ...
Single Psilocybin Dose Shows Promise in Easing OCD Symptoms, Study Finds
LOS ANGELES – In a pioneering study, researchers from the University of Hertfordshire and Imperial College have uncovered the potential of psilocybin to alleviate symptoms of obsessive-compulsive disorder (OCD). Published in Comprehensive Psychiatry on July ...
LA County DA Launches Campaign to Educate Teens on Cannabis Risks
LOS ANGELES- Los Angeles County District Attorney's Office has initiated a public service campaign to educate youth and caregivers about the risks associated with modern cannabis products, which are significantly more potent than those available ...
Chicago Atlantic Real Estate Finance Reports Q3 2024 Financial Results
LOS ANGELES- Chicago Atlantic Real Estate Finance Inc. has released its financial results for the third quarter of 2024, highlighting key metrics and strategic developments. As of September 30, 2024, the company's loan portfolio stood ...
Medicinal Cannabis Companies Target Veterans with Social Media Promotions, Raising Ethical Concerns
LOS ANGELES- Recent reports indicate that medicinal cannabis companies are increasingly targeting veterans through social media platforms, promoting free products and subscription services. This marketing strategy aims to attract veterans by offering complimentary samples and ...
Republican Gains in Last Week’s Election Signal Setbacks for U.S. Cannabis Legalization
LOS ANGELES – Last Wednesday’s election marked a pivotal moment in U.S. cannabis policy, as Republican gains across several states stoked a fresh wave of resistance against adult-use cannabis legalization. This shift, especially pronounced in ...
How Do You Target the Right SEC-Accredited Investors in Cannabis?
LOS ANGELES- Raising capital for cannabis startups and small businesses requires a strategic approach, particularly when targeting SEC-accredited investors. These individuals bring significant financial resources and expertise, making them key to your fundraising success. While ...
Oregon Voters Approve Measure 119, Enhancing Unionization Rights for Cannabis Workers
LOS ANGELES- In the recent election, Oregon voters passed Measure 119, mandating that cannabis retailers and processors enter into labor peace agreements as a condition for state licensure. These agreements require employers to remain neutral ...
Germany’s Cannabis Social Clubs Begin Distribution Amid Expansion of Pilot Programs
LOS ANGELES- Germany's cannabis legalization efforts have reached a significant milestone with the first legal distribution of cannabis by a social club. The Cannabis Social Club Ganderkesee, located in Lower Saxony, has commenced providing cannabis ...
Texas Voters Approve Local Cannabis Decriminalization in Dallas, Bastrop, and Lockhart
LOS ANGELES- Voters in three Texas cities—Dallas, Bastrop, and Lockhart—have approved local ordinances to decriminalize low-level cannabis possession. Each measure passed with strong support, reflecting a growing trend in Texas municipalities toward reducing penalties for ...
Florida Voters Reject Cannabis Legalization, Impacting Broader U.S. Legalization Efforts
LOS ANGELES- In a significant setback for the cannabis industry, Florida voters rejected Amendment 3, which aimed to legalize recreational cannabis for adults 21 and older. While the measure received over 57% support, it fell ...
Mixed Results for Cannabis Initiatives in U.S. States
LOS ANGELES- In the recent elections, U.S. states voted on a range of cannabis-related measures, with mixed results. Notably, attempts to expand cannabis access faced both advancements and setbacks, highlighting the varied landscape of cannabis ...
Trump’s Return to Office: What it Means for the Cannabis Industry
LOS ANGELES- As Donald Trump returns to the White House, the cannabis industry is assessing how his policy stance could shape the future of legal cannabis in the United States. Trump's position on cannabis has ...
Massachusetts Voters Reject Medical Use of Psychedelics in Close Ballot Measure
LOS ANGELES- Massachusetts voters have rejected a proposed measure to legalize the medical use of certain psychedelics, with 57% voting against and 43% in favor. The initiative sought to permit the use of psilocybin, psilocin, ...
Aurora Cannabis Reports Q2 Revenue Growth
LOS ANGELES- Aurora Cannabis Inc. announced a 29% increase in revenue for the second quarter of fiscal 2025, reaching $81.1 million. This growth is attributed primarily to the rising demand for its medical cannabis products ...
Verano Reports Steady Q2 Earnings
LOS ANGELES- Verano Holdings Corp., a major multi-state cannabis operator in the U.S., reported its Q2 earnings on August 7th. The company met analysts' expectations with an EPS of ($0.05), showing a decline with negative ...
Key States to Decide Cannabis Legalization in 2024
LOS ANGELES- In November 2024, voters in four states—Florida, Nebraska, North Dakota, and South Dakota—will decide on significant cannabis ballot measures. Florida, the most populous among them, aims to transition from a medical-only market to ...
From Progress to Plateau: Democrats’ Shifting Gains on Cannabis Reform
LOS ANGELES- The Biden administration has a significant record on cannabis reform, characterized by policy shifts that have altered federal attitudes toward legalization. President Biden's notable moves include an October 2022 executive action urging agencies ...
Planet 13 Launches Initiative to Support Florida Veterans and First Responders with Medical Cannabis Access
LOS ANGELES- Planet 13 Holdings Inc., a multi-state cannabis company, recently launched the "Healing Heroes" initiative in Florida to support veterans and first responders. This program, active from November 1 to 14, 2024, aims to ...
Nebraska’s 2nd Congressional District Becomes Key Battleground in 2024 Presidential and Senate Races
LOS ANGELES- Nebraska's unique role in the 2024 presidential election lies in its allocation of Electoral College votes. Unlike most states, Nebraska, alongside Maine, uses a split system where two votes are awarded to the ...
DeSantis Uses Opioid Settlement Funds for Anti-Cannabis Ads Ahead of Ballot Initiative
LOS ANGELES- Florida Governor Ron DeSantis' administration has drawn attention for using opioid settlement funds to finance an anti-cannabis campaign. The Florida Department of Children and Families reportedly allocated $4 million for advertisements discouraging cannabis ...
Arizona to Launch Recreational Cannabis Home Delivery
LOS ANGELES- Starting November 2024, Arizona will permit home delivery for recreational cannabis, marking a significant shift in state policy. The Arizona Department of Health Services has approved this expansion, previously limited to medical cannabis ...
Cannabis Means Business — a Bold New Vision for CWCBExpo
NEW YORK (New York)-- Cannabis Means Business (CMB) is a new vision for the show previously run as CWCBExpo. This evolution is a significant shift in the landscape of cannabis industry events and reflects the ...
AICPA Calls for IRS Guidance on Cannabis Tax Policy Amid Potential Rescheduling
LOS ANGELES- The American Institute of Certified Public Accountants (AICPA) is calling on the IRS and Treasury Department to provide updated guidance on tax policy for cannabis businesses in light of a potential rescheduling of ...
Green Dragon and Eaze to Close Operations Amid Financial Challenges and Industry Downturn
LOS ANGELES- Green Dragon, a multi-state cannabis operator with facilities in Colorado and Florida, is set to cease operations by the end of 2024. This move will affect all 17 of its dispensaries in Colorado ...
NCIA Among Speakers Approved for DEA’s Landmark Cannabis Rescheduling Hearing in December
LOS ANGELES-The Drug Enforcement Administration (DEA) is preparing for its cannabis rescheduling hearing set for December 2 by selecting speakers to participate. Several organizations, including the National Cannabis Industry Association (NCIA), have received approval to ...
U.S. Cannabis Market Growth Reaches $50 Billion as Industry Grapples with Worker Unionization Efforts
LOS ANGELES- The U.S. cannabis market is on track for substantial growth, with projections indicating retail sales could exceed $50 billion annually within the next several years. In 2023, combined medical and recreational cannabis sales ...
