Legal Affairs
Europe’s Medical Cannabis Sector Shows Steady Expansion
LOS ANGELES – Prohibition Partners’ report indicates that Europe's medical Cannabis market could hit approximately €1.4 billion this year, driven by demand in key countries like Germany and the United Kingdom. Analysts point to a ...
California Lawmakers Back Pause on Recent Cannabis Tax Hike
LOS ANGELES – The California Senate approved Assembly Bill 564, a measure that would roll back a recent jump in the state's Cannabis excise tax for five years, sending it back to the Assembly for ...
Schwazze Nears Debt Restructuring Echoing Ayr Wellness Strategy
DENVER – Schwazze approaches a debt restructuring that closely follows the path set by Ayr Wellness, as financial strains push more companies in the sector toward creditor-driven asset reallocations. Ayr Wellness Inc., a Miami-headquartered MSO, ...
Playing to Win: How Strategy Really Works for Cannabis Leaders
LOS ANGELES -The Cannabis industry is filled with ambitious operators, visionary founders, and well-funded enterprises. Yet despite enormous energy and investment, many companies still struggle to answer the most fundamental question in business: what is ...
MSOs Confront Billions in Uncertain Tax Liabilities
LOS ANGELES – U.S. Cannabis operators continue to navigate the constraints of IRS Section 280E, which bars deductions for standard business expenses and drives up effective tax rates. Major multi-state Cannabis operators (MSOs) have leaned ...
Psilocybin Shows Promise for Traumatic Brain Injury Recovery
LOS ANGELES – A scientific review published in the journal Brain Sciences has outlined how psilocybin, the active compound in psychedelic mushrooms, might support recovery for individuals with traumatic brain injuries. The analysis, released in ...
Cannabis Companies Secure Extension in Federal Prohibition Case
WASHINGTON – The U.S. Supreme Court has extended the deadline for a group of Cannabis businesses to file a petition seeking review of their case against the Justice Department, which aims to strike down the ...
Europe’s Medical Cannabis Sector Shows Steady Expansion
LOS ANGELES – Prohibition Partners’ report indicates that Europe's medical Cannabis market could hit approximately €1.4 billion this year, driven by demand in key countries like Germany and the United Kingdom. Analysts point to a ...
California Lawmakers Back Pause on Recent Cannabis Tax Hike
LOS ANGELES – The California Senate approved Assembly Bill 564, a measure that would roll back a recent jump in the state's Cannabis excise tax for five years, sending it back to the Assembly for ...
Schwazze Nears Debt Restructuring Echoing Ayr Wellness Strategy
DENVER – Schwazze approaches a debt restructuring that closely follows the path set by Ayr Wellness, as financial strains push more companies in the sector toward creditor-driven asset reallocations. Ayr Wellness Inc., a Miami-headquartered MSO, ...
Texas Poll Shows Majority Support for Cannabis Legalization
LOS ANGELES- A statewide poll in Texas has revealed that six out of 10 adults support legalizing cannabis, marking the first time the poll has shown a solid majority. The Texas Lyceum Poll, now in ...
Martha’s Vineyard Dispensary Sues for Cannabis Transport Rights
LOS ANGELES- A dispensary in Martha’s Vineyard, Massachusetts, has filed a lawsuit against the state Cannabis Control Commission (CCC) over rules prohibiting the transport of cannabis products by boat across the Vineyard Sound. The lawsuit, ...
Hemp THC Products Face Potential Ban Under Farm Bill Amendment
LOS ANGELES- An amendment to the House version of the Farm Bill aims to ban the sale of hemp-derived delta-8 THC and other intoxicating hemp products. Proposed by Illinois Republican Rep. Mary Miller, the amendment ...
New York Imposes $15.2 Million Fine on Owner of Unlicensed Cannabis Shops
NEW YORK- The owner of seven unlicensed cannabis shops in New York has been fined $15.2 million for operating without a license, ignoring multiple official notices, and selling cannabis to underage customers. New York Attorney ...
Louisiana Senate Bill Could Shift Medical Cannabis Cultivation to Private Sector
LOS ANGELES- If signed into law, Senate Bill 228 will allow private contractors to replace Louisiana State University (LSU) and Southern University (SU) in the cultivation of medical cannabis, ending their unique role in this ...
Federal Move to Reclassify Cannabis: A Potential Game-Changer for U.S. Drug Policy
LOS ANGELES- The federal landscape surrounding cannabis usage in the United States is on the cusp of a historic transformation. The recent proposal to reclassify cannabis from a Schedule 1 controlled substance to a Schedule ...
New York Bill Seeks to Legalize Psilocybin Service Centers
LOS ANGELES- New York legislation Assembly Bill 10375, introduced by Assembly Health Committee Chair Amy Paulin, aims to legalize psilocybin service centers. If passed, the bill would create a regulatory framework for licensing these centers ...
Iowa Governor Signs Bill Imposing THC Caps on Hemp-Derived Products
LOS ANGELES- Iowa Governor Kim Reynolds has signed a new bill that imposes strict THC caps on cannabinoid-infused hemp products, significantly impacting the industry. The law, effective July 1, limits THC content to 4 milligrams ...
Daily Cannabis Use Surpasses Daily Alcohol Consumption in the U.S.
LOS ANGELES- Recent analysis of national survey data reveals that more Americans now admit to daily cannabis use than to daily alcohol consumption. Published in the journal Addiction, the research found that in 2022, approximately ...
House Armed Services Committee Approves NDAA with Provision on Cannabis Testing for Military Recruits
LOS ANGELES- The House Armed Services Committee has approved the 2025 National Defense Authorization Act (NDAA), a comprehensive defense bill crucial for funding national defense and military operations. A significant provision within the bill prohibits ...
Massachusetts Cannabis Dispensaries File Suit Over Shipping Restrictions
LOS ANGELES- Two cannabis dispensaries in Massachusetts, Island Time on Martha’s Vineyard and The Green Lady Dispensary on Nantucket Island, have filed a lawsuit against state regulators. The suit challenges restrictions that prevent them from ...
California Senate Halts Psychedelic-Assisted Therapy Bill
LOS ANGELES- In a significant setback for advocates of psychedelic-assisted therapy, California's proposal to legalize treatment centers for supervised access to substances like psilocybin and MDMA has been halted. The Senate Appropriations Committee dropped Senate ...
atai Life Sciences Announces Key Developments in Clinical Trials and Leadership Transition
LOS ANGELES- atai Life Sciences, a leading company in the mental health biopharmaceutical sector, has announced significant progress in its clinical trials and a strategic leadership transition, underscoring its commitment to advancing mental health care. ...
Silo Pharma Announces Positive Research Results on Depression Treatment
LOS ANGELES-Silo Pharma, Inc., a biopharmaceutical company specializing in novel formulations and drug delivery systems for traditional therapeutics and psychedelic treatments, has announced new research findings indicating promising advances in depression remission and relapse prevention. ...
California Assembly Passes Bill to Allow Food, Drinks, and Events at Cannabis Cafes
LOS ANGELES- The California State Assembly has approved legislation permitting licensed cannabis cafes to serve food and non-alcoholic beverages and host live events, such as music and other performances. The bill now advances to the ...
Glass House Withdraws Defamation Lawsuit Against Catalyst Cannabis
LOS ANGELES- Glass House Brands Inc. has retracted its defamation lawsuit against Catalyst Cannabis Co., citing concerns over Catalyst's financial viability and the potential harassment of its customers. This withdrawal marks a significant turn in ...
New Hampshire Senate Approves Cannabis Legalization Bill with State-Run Dispensaries
LOS ANGELES- The New Hampshire Senate has passed an adult-use cannabis legalization bill that includes a state-run dispensary system. The bill, favored by Republican Governor Chris Sununu, marks the first time the chamber has approved ...
Victoria to Launch World’s First Medical Cannabis Driving Trial
WORLD- Victoria, the first Australian state to legalize medical cannabis in 2016, is set to initiate a groundbreaking medical cannabis driving trial. As part of the Victorian Budget 2024/25, the Labor Government has allocated $4.9 ...
Delaware Bill Proposes Temporary Conversion Licenses for Medical Cannabis Retailers
NEW YORK- Sponsored by State Representative Ed Osienski and Senator Trey Paradee, House Bill 408 aims to create a pathway for medical cannabis retailers in Delaware to obtain temporary conversion licenses, enabling them to legally ...
Ayr Wellness Inc. Reports Q1 2024 Financial Performance
LOS ANGELES- Ayr Wellness Inc., a vertically integrated U.S. multi-state cannabis operator, has reported significant financial advancements in the first quarter of 2024, underscoring its commitment to sustainable and profitable growth. The company aims to ...
California’s Proposal to Legalize Psychedelic Treatment Centers Fails for the Year
LOS ANGELES- The proposal to legalize psychedelic treatment centers in California has been shelved for the year. The initiative was developed in response to concerns raised by Governor Gavin Newsom (D) after he vetoed a ...
Iowa Imposes Stricter Limits on Hemp-Derived THC Products
LOS ANGELES- Iowa Governor Kim Reynolds signed multiple bills into law on Friday, including House File 2605, which aims to close loopholes in state and federal hemp laws. This bill imposes new restrictions on hemp-derived ...
Cannabis Stocks Surge Following Biden’s Reclassification Announcement
NEW YORK- At 1 p.m. on May 16, Biden shared a video on X, declaring the U.S. Department of Justice's decision to reclassify cannabis. This announcement led to a swift increase in cannabis-related stocks, reflecting ...
Cresco Labs Reports First Quarter Financial Performance
LOS ANGELES- Cresco Labs reported first-quarter revenues of $184 million, reflecting the company’s growth trajectory in the competitive cannabis market. This increase in revenue is attributed to market expansion and enhanced product offerings under its ...
DEA Report Highlights Shifts in U.S. Drug Trafficking Trends
LOS ANGELES- The Drug Enforcement Administration (DEA) released its 2024 National Drug Threat Assessment (NDTA) on May 9, providing an in-depth analysis of illegal drug and trafficking trends in the United States. DEA Administrator Anne ...
