Legal Affairs
Innovative Industrial Properties Reports Q4 FY2025 Financial Results
SAN DIEGO – Innovative Industrial Properties, Inc., the real estate investment trust specializing in properties leased to Cannabis operators, reported its fourth-quarter and full-year results for the period ended December 31, 2025. For the full ...
LRS Publishes First Cannabis Industry Retirement Report
SEATTLE – The Cannabis industry has taken a notable step toward standardizing employee benefits with the release of its first dedicated retirement report, shedding light on a benefit long limited by federal restrictions. Leading Retirement ...
Gotham NYC Launches Accelerator for Black-Owned Cannabis Brands
NEW YORK – Gotham NYC, the city's first Cannabis concept store known for blending retail with art, design and culture, has rolled out a new business accelerator aimed at supporting growth-stage Cannabis consumer-product companies owned ...
Trulieve Raises $60M in Senior Secured Notes
TALLAHASSEE – Trulieve Cannabis Corp. announced the completion of the second tranche of its private placement of 10.5% senior secured notes due in 2030, generating $60 million in principal. The closing follows the initial issuance ...
Canix Acquires Trym, Fits into Larger Consolidation Pattern in Cannabis
LOS ANGELES – San Francisco-based Canix, a provider of enterprise resource planning (ERP) software for Cannabis businesses, has acquired Trym, a specialized cultivation management platform. The deal combines Canix's comprehensive ERP system [which handles cultivation ...
Cannabis Cultivation Market Forecast to Reach $465B by 2030
LOS ANGELES – A recent report from Research and Markets projects the global Cannabis cultivation market to reach $464.91 billion by 2030, up from $207.46 billion in 2025, reflecting a compound annual growth rate (CAGR) ...
Virginia Lawmakers Approve Bill to Establish Regulated Cannabis Sales
RICHMOND – The Virginia House General Laws Committee voted 19-2 to approve legislation that would lay the groundwork for legal retail sales of recreational Cannabis, bringing the state closer to filling a longstanding gap in ...
Innovative Industrial Properties Reports Q4 FY2025 Financial Results
SAN DIEGO – Innovative Industrial Properties, Inc., the real estate investment trust specializing in properties leased to Cannabis operators, reported its fourth-quarter and full-year results for the period ended December 31, 2025. For the full ...
LRS Publishes First Cannabis Industry Retirement Report
SEATTLE – The Cannabis industry has taken a notable step toward standardizing employee benefits with the release of its first dedicated retirement report, shedding light on a benefit long limited by federal restrictions. Leading Retirement ...
Gotham NYC Launches Accelerator for Black-Owned Cannabis Brands
NEW YORK – Gotham NYC, the city's first Cannabis concept store known for blending retail with art, design and culture, has rolled out a new business accelerator aimed at supporting growth-stage Cannabis consumer-product companies owned ...
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 ...
Canopy Growth Raises $50 Million Through Exchange and Subscription Agreement
LOS ANGELES- Canopy Growth, a cannabis producer based in Smiths Falls, Ontario, has raised approximately $50 million (68 million Canadian dollars) in gross proceeds through an exchange and subscription agreement with an institutional investor. The ...
DEA Report Highlights Growing Threat from Synthetic Drugs and Illegal Cannabis Operations
LOS ANGELES- The Drug Enforcement Administration (DEA) released its 2024 National Drug Threat Assessment (NDTA) on May 9, detailing illegal drug and trafficking trends in the United States. DEA Administrator Anne Milgram emphasized the shift ...
47 Ohio Municipalities Ban Adult-Use Cannabis Businesses Ahead of Program Launch
LOS ANGELES- As Ohio prepares for the launch of its adult-use cannabis program, several dozen municipalities have implemented temporary bans on adult-use cannabis businesses. Research from Ohio State University, summarized by Cleveland.com, indicates that as ...
Analysis: Adult-Use Cannabis Markets Generate Over $20 Billion in State Tax Revenue
Washington, DC (NORML): Taxes derived from the licensed sale of state-regulated cannabis products totaled more than $4 billion in 2023, according to an analysis provided by the Marijuana Policy Project. MPP’s estimates do not include revenues derived from ...
Biden Administration Begins Formal Rulemaking Process Downgrading Cannabis to Less Dangerous Drug
WASHINGTON, D.C. - President Joe Biden is officially advancing plans to ease federal cannabis restrictions. Today, Biden announced his administration's intention to reclassify cannabis from the most restrictive category on the federal list of illegal ...
Ohio Committee Approves Plan for Adult-Use Cannabis Sales
LOS ANGELES- The Ohio Joint Committee on Agency Rule Review (JCARR) has approved new regulations to allow medical cannabis dispensaries to sell adult-use products starting June 7, 2024. This development follows the voter approval of ...
Texas Senate to Hold Public Hearing on Delta-8, Delta-9 THC Products
LOS ANGELES- The Texas Senate will hold a public hearing on May 29 to discuss a potential ban on delta-8 and delta-9 THC products. These products have been widely available in Texas since 2019, following ...
Study Finds Psilocybin Use Does Not Significantly Alter Religious Beliefs
LOS ANGELES- A new study from Johns Hopkins University, published in the Journal of Psychoactive Drugs, indicates that a single psilocybin experience is unlikely to change an atheist's belief in God or alter a person's ...
Federal Judge Orders Cannabis Dispensary Operator to Bargain with Union
LOS ANGELES- In a landmark decision, U.S. District Judge Myong Joun has mandated that the cannabis dispensary operator I.N.S.A. must negotiate with the United Food and Commercial Workers (UFCW) union, despite its employees voting against ...
Enveric Biosciences Eyes Major Licensing Deals for Its Drug Pipeline
NEW YORK- Enveric Biosciences is actively pursuing licensing agreements that could potentially net the company up to $410 million in milestone payments. This initiative follows a newly announced partnership with MindBio and comes amidst the ...
New York Cannabis Regulatory Chief to Resign Amid Program Overhaul
LOS ANGELES- Chris Alexander, the Executive Director of New York's Office of Cannabis Management (OCM), is set to resign at the end of his three-year term in September, as announced by Governor Kathy Hochul. The ...
Minnesota Residents Sue for Right to Sell Home-Grown Cannabis
LOS ANGELES- In Minnesota, a legal battle is unfolding as four individuals who legally cultivate cannabis have initiated a lawsuit against state cannabis regulators. The plaintiffs argue that the Minnesota Constitution permits them to sell ...
Idaho Medical Cannabis Initiative Gains Momentum Amid New Signature Drive
LOS ANGELES- In Idaho, one of the few states without any legal cannabis framework, the advocacy group Kind Idaho is making strides to place a medical cannabis initiative on the 2024 ballot. The organization faces ...
Product Recall in Arizona Due to Contamination Concerns
LOS ANGELES- The Arizona Department of Health Services has issued a recall for a product known as Onion Bhaji after laboratory tests detected possible contamination with Aspergillus, a fungus known to cause allergic reactions or ...
Massachusetts Orders Cease on THCV Products by Hemp Company
LOS ANGELES- The Massachusetts Department of Agricultural Resources (MDAR) has issued a cease and desist order to Bay State Extracts, a state-licensed hemp business, directing it to stop the production and sale of products containing ...
Ohio to Award Dual-Use Cannabis Licenses by June
LOS ANGELES- Ohio is set to begin the transition to allow existing medical cannabis dispensaries to sell cannabis recreationally. The state's Joint Committee on Agency Rule Review has approved regulations for dual-use licenses, with applications ...
