Legal Affairs
WSWA Launches Educational Resource on Hemp Beverage Regulation
WASHINGTON – The Wine & Spirits Wholesalers of America (WSWA), the national trade association representing U.S. wine and spirits distributors, announced the rollout of a new online microsite outlining facts and policy options for overseeing ...
AbbVie Secures First Psychedelic PRIME Designation in Europe
BRUSSELS – The European Medicines Agency (EMA) has granted Priority Medicines (PRIME) eligibility to bretisilocin, an investigational compound from AbbVie Inc. aimed at treating major depressive disorder (MDD). The decision adopted at the Committee for ...
Vireo Growth Completes Schwazze Assets Acquisition
MINNEAPOLIS – In a move that instantly reshapes the competitive map in two key Cannabis states, Vireo Growth Inc. has completed its acquisition of major assets from Schwazze, gaining control of dozens of established dispensaries ...
AtaiBeckley Reports Q4 and FY 2025 Financial Results
NEW YORK – AtaiBeckley Inc. disclosed its fourth-quarter and full-year 2025 financial results, showing a significant net loss driven by costs from its recent merger while highlighting progress in its clinical programs for depression and ...
Ohio Hits Over $3B in Total Cannabis Sales
COLUMBUS – Ohio's legal Cannabis market has generated $3.56 billion in combined medical and recreational sales through the end of February, driven by steady growth in both segments since adult-use purchases became legal in August ...
Colorado Lawmakers Back Temporary On-Site Cannabis Consumption Events
DENVER – Colorado's House Committee on Business Affairs & Labor voted 7-5 to advance House Bill 26-1117, a measure that would let licensed Cannabis hospitality businesses hold temporary on-site consumption events. Sponsored by Rep. Naquetta ...
Explosion at New Jersey Extraction Facility Highlights Ongoing Safety Risks in Cannabis Processing
NEW JERSEY–A powerful explosion at an extraction facility in Logan Township, New Jersey on March 4 has left several workers seriously injured and reignited discussion around safety risks in solvent-based Cannabis processing. The blast occurred ...
WSWA Launches Educational Resource on Hemp Beverage Regulation
WASHINGTON – The Wine & Spirits Wholesalers of America (WSWA), the national trade association representing U.S. wine and spirits distributors, announced the rollout of a new online microsite outlining facts and policy options for overseeing ...
AbbVie Secures First Psychedelic PRIME Designation in Europe
BRUSSELS – The European Medicines Agency (EMA) has granted Priority Medicines (PRIME) eligibility to bretisilocin, an investigational compound from AbbVie Inc. aimed at treating major depressive disorder (MDD). The decision adopted at the Committee for ...
Vireo Growth Completes Schwazze Assets Acquisition
MINNEAPOLIS – In a move that instantly reshapes the competitive map in two key Cannabis states, Vireo Growth Inc. has completed its acquisition of major assets from Schwazze, gaining control of dozens of established dispensaries ...
Chairman of High Times Parent Company to Plead Guilty in Fraud Scheme
LOS ANGELES-Adam Levin, chairman of Hightimes Holding Corp., has agreed to plead guilty to conspiracy charges involving a scheme to pay an investment analyst to promote the company’s stock without disclosing the compensation. According to ...
High Tide Acquires Majority Stake in German Cannabis Firm
LOS ANGELES- High Tide Inc., a Canadian cannabis enterprise, has acquired a 51% stake in Frankfurt-based pharmaceutical company Purecan for approximately €4.8 million. This strategic move marks High Tide's entry into Germany's medical cannabis market. ...
DEA Judge Cancels Cannabis Rescheduling Hearings
LOS ANGELES- The Drug Enforcement Administration (DEA) has canceled its upcoming hearings on the proposed rescheduling of cannabis under the Controlled Substances Act. Chief Administrative Law Judge John Mulrooney issued the cancellation following legal challenges ...
Hemp vs Cannabis Beverages: What’s the Difference, and Why Does It Matter?
LOS ANGELES- Cannabis and hemp beverages markets see rapid growth, but their distinctions remain unclear to many. While both originate from one species, they cater to vastly different audiences, serve distinct purposes, and adhere to ...
The Rise of a New Era of Consumption: Cannabis-Infused Drinks
LOS ANGELES--Cannabis-infused beverages have rapidly gained traction in recent years as a popular alternative to traditional consumption methods such as smoking and vaping. With the increasing legalization of cannabis in the United States and other ...
What You Need to Know Inventory Management and Cost Accounting
LOS ANGELES—Every entrepreneur, CEO and CFO needs to know that effective inventory management and accurate cost accounting are critical to success in the cannabis and psychedelic industries. As businesses navigate a landscape marked by strict ...
Worried About IRS Audits? What You Need to Know
LOS ANGELES– The cannabis and psychedelics industry is undergoing a remarkable transformation, and as we one step into 2025, the outlook is brighter than ever. With increasing legalization, growing consumer acceptance, and a burgeoning market ...
Psilocybin Therapy Shows Promise for Pandemic-Induced Depression in Healthcare Workers
LOS ANGELES- Recent studies indicate that psilocybin-assisted psychotherapy may alleviate depression among healthcare professionals affected by the COVID-19 pandemic. A randomized clinical trial conducted by the University of Washington involved 30 frontline clinicians experiencing moderate to ...
Efficacy of Medical Cannabis in Treating PTSD Remains Uncertain
LOS ANGELES- The use of medical cannabis as a treatment for post-traumatic stress disorder (PTSD) has garnered significant attention. However, current research provides limited and inconclusive evidence regarding its effectiveness. A 2021 systematic review found ...
Compass Pathways Advances Psilocybin Research in the UK
LOS ANGELES- Compass Pathways, a biotechnology company specializing in mental health innovations, has commenced the UK segment of its global Phase 3 clinical trial evaluating COMP360 psilocybin therapy for treatment-resistant depression (TRD). This initiative follows ...
Hemp-Derived CBD Market Set to Expand Significantly by 2034
LOS ANGELES- The global hemp-derived cannabidiol (CBD) market is forecasted to grow from $8.28 billion in 2023 to $46.25 billion by 2034, with a compound annual growth rate (CAGR) of 16.93%, according to Research and ...
DEA Faces Allegations of Bias in Cannabis Rescheduling Process
LOS ANGELES- The Drug Enforcement Administration (DEA) is under scrutiny following allegations of bias in its handling of the cannabis rescheduling process. Pro-cannabis advocates assert that the agency has demonstrated an "unalterably closed mind" toward ...
Ohio’s Cannabis Market Expansion in 2024
LOS ANGELES- In 2024, Ohio's legal cannabis market achieved sales exceeding $675 million, marking a 40% increase from the previous year's $484 million. This growth is attributed to the commencement of adult-use cannabis sales in ...
Agrify Divests Cultivation Business to Focus on THC Beverages
LOS ANGELES- Agrify Corporation, a provider of solutions for the cannabis and hemp industries, has sold its cultivation business to CP Acquisitions, LLC, an entity affiliated with former CEO Raymond Chang. The transaction, completed on ...
Wildfires Disrupt California’s Cannabis Industry: A Growing Challenge for Businesses and Employees
LOS ANGELES–The raging wildfires in Los Angeles County, notably the Pacific Palisades fire, have become the most destructive in the city's history, severely impacting local cannabis businesses. As of January 8, 2025, multiple fires—including the ...
Kentucky Implements Medical Cannabis Program
LOS ANGELES- As of January 1, 2025, Kentucky has officially implemented its medical cannabis program, allowing residents with qualifying medical conditions to access cannabis for therapeutic purposes. This development follows the enactment of Senate Bill ...
Hawaii Governor Signs Executive Order to Protect Medical Cannabis Caregivers
LOS ANGELES- Governor Josh Green of Hawaii has signed Executive Order No. 24-06 to protect caregivers who provide medical cannabis to qualified patients from undue enforcement. This action addresses legal changes that were set to ...
What You Need to Know Inventory Management and Cost Accounting
LOS ANGELES- Every entrepreneur, CEO and CFO needs to know that effective inventory management and accurate cost accounting are critical to success in the cannabis and psychedelic industries. As businesses navigate a landscape marked by ...
What You Need to Know Banking and Financing Challenges
LOS ANGELES- Every entrepreneur CEO or CFO needs to know that navigating the banking and financing landscape in the cannabis industry presents unique challenges. Despite the rapid growth of the cannabis market in the United States, ...
What Entrepreneurs Need to Know Regulatory Compliance Costs
LOS ANGELES- Every entrepreneur, CFO and CEO needs to know that navigating regulatory compliance in the cannabis industry is not just a legal obligation, but also a significant financial undertaking. As the cannabis market continues ...
Texas Agriculture Commissioner Advocates for Hemp Restrictions and Medical Cannabis Expansion
LOS ANGELES- Texas Agriculture Commissioner Sid Miller has expressed support for restricting the sale of unregulated hemp-derived THC products while advocating for the expansion of the state's medical cannabis program. In a recent opinion piece, ...
Minnesota Approves Hemp Seed Meal for Laying Hens
LOS ANGELES- The Minnesota Department of Agriculture (MDA) has authorized the use of hemp seed meal in feed for laying hens, positioning Minnesota among the first states to permit this ingredient in poultry diets. Hemp ...
Vireo Growth Inc. Secures $75 Million Financing and Acquires Four Cannabis Operators
LOS ANGELES- Vireo Growth Inc. has announced a $75 million equity financing at $0.625 per share, alongside agreements to acquire four single-state cannabis operators for approximately $397 million in all-stock transactions. The acquisitions include Proper ...
Canopy USA Appoints M. Brooks Jorgensen as President
LOS ANGELES- Canopy USA, a subsidiary of Canopy Growth Corporation, has announced the appointment of M. Brooks Jorgensen as its new President. Jorgensen brings over two decades of experience in the wine and spirits industry, ...
Expanding Investment Horizons: Opportunities for Cannabis Entrepreneurs
NEW YORK-The cannabis industry is evolving, presenting fresh opportunities for entrepreneurs willing to think beyond traditional boundaries. While some cannabis-specific investors may be stepping back, there’s growing interest from wellness-focused capital, accredited investors, and innovative ...
