Legal Affairs
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 ...
NYC Dispensaries Seek Justice in Court Over Schools Proximity Blunder
NEW YORK – A coalition of licensed Cannabis dispensaries filed suit against New York regulators on Friday, claiming a state error in enforcing school buffer zones threatens their operations and could force closures or costly ...
Cannabis Earnings Outlook Dims as Q2 2025 Looms, Latest Analysis
LOS ANGELES – As the Cannabis industry braces for Q2 2025 earnings releases in early August, a sobering picture emerges from Viridian Capital Advisors’ Chart of the Week. Ten of twelve tracked companies are projected ...
Cash, Crime, and Cannabis: Attorneys General Push Congress on SAFER Banking Act
WASHINGTON, D.C.–In a rare show of bipartisan unity, attorneys general from 32 states and U.S. territories issued a pointed appeal to Congress on Thursday: pass the SAFER Banking Act of 2025 — and finally bring ...
Cresco Labs Exits California Cannabis Market in Bold Strategic Pivot
LOS ANGELES – Cresco Labs Inc. (OTCQX: CRLBF), a multistate cannabis operator, announced its withdrawal from California, the world’s largest cannabis market. This move aligns with the company's broader strategic restructuring aimed at stabilizing its ...
Arkansas Activists Blaze Trail for Psychedelic Reform
BENTONVILLE – In the heart of Northwest Arkansas, a group of dedicated activists is pushing to reshape the legal landscape for psychedelics. Decriminalize Nature NW Arkansas, founded in 2023, is leading the charge to decriminalize ...
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 ...
NYC Dispensaries Seek Justice in Court Over Schools Proximity Blunder
NEW YORK – A coalition of licensed Cannabis dispensaries filed suit against New York regulators on Friday, claiming a state error in enforcing school buffer zones threatens their operations and could force closures or costly ...
New York Cannabis Control Board Approves Two More Operators for Recreational Market
NEW YORK — In a remarkably swift meeting on Friday, the New York Cannabis Control Board (CCB) made a significant decision, approving the transition of two additional multi-state operators (MSOs) from the medical to the ...
PSYC Corporation CEO Addresses Company Challenges and Future in Detailed Podcast Update
NEW YORK — PSYC Corporation , the parent company of Spotlight Media Corporation (SMC), a leader in media for emerging sectors like medicinal psychedelics, recently released a video podcast featuring CEO David Flores. The podcast, ...
Czech Republic Unveils Compromise Cannabis Regulation Draft Amid Diverse Political Views
PRAGUE— The Czech government recently released its anticipated draft regulations for cannabis cultivation and consumption on January 10, marking a significant, albeit tentative, step in cannabis policy reform. This draft, described as a "compromise version" ...
Washington D.C. Tightens Grip on Unlicensed Cannabis Gifting Shops with New Penalties
WASHINGTON — The Washington, D.C. District Council, in a decisive move, approved a measure on Tuesday to impose new penalties on unlicensed cannabis gifting shops. This bill, potentially effective this week, aims to regulate these ...
Thailand’s Backpedal on Cannabis: New Bill to Ban Recreational Use Amid Regulatory Challenges
WORLD- Thailand's journey with cannabis legalization has taken a sharp turn as the government proposes new regulations to curb what it perceives as unintended recreational use. A draft bill, introduced on January 9, aims to ...
Maine’s Cannabis Market Hits Record Highs
LOS ANGELES- The cannabis industry in Maine achieved a remarkable milestone in 2023, with retail revenues surpassing $200 million, despite a challenging backdrop of declining prices that have troubled operators. This surge represents a significant ...
Florida’s New Bill Proposes Limiting THC Potency
LOS ANGELES- In a significant move within the cannabis legislative landscape, Florida Representative Ralph Massullo introduced House Bill 1269, which proposes stringent limitations on THC potency in cannabis products. This bill, introduced on January 5 ...
VA to Explore Psychedelics for PTSD and Depression
LOS ANGELES- In a groundbreaking move, the Department of Veterans Affairs (VA) is funding research into the therapeutic potential of psychedelics for treating mental health conditions like post-traumatic stress disorder (PTSD) and depression in veterans. ...
Maine’s Booming Cannabis Market Faces Challenges Amid Falling Prices
LOS ANGELES— Maine's regulated adult-use cannabis industry recorded over $200 million in sales in 2023, marking a significant 36% increase from the previous year. Despite these robust figures, released by the state Office of Cannabis ...
DEA Clarifies Legality of Psychedelic Mushroom Spores, Highlighting Regulatory Complexities
WASHINGTON, D.C. — The U.S. Drug Enforcement Administration (DEA) recently provided a crucial clarification on the legal status of psychedelic mushroom spores. According to a statement from Terrence Boos, Chief of the DEA's Drug and ...
West Virginia Eyes Cannabis Legalization in Fight Against Fentanyl Crisis
NEW YORK— As West Virginia's legislative session unfolds, the topics of cannabis legalization and the fentanyl crisis are taking center stage. Senate President Craig Blair, speaking at a press event on January 5, indicated that ...
Over 2.3 Million Cannabis Convictions Pardoned in U.S. Since 2018
LOS ANGELES- In a significant move towards criminal justice reform, U.S. state courts have pardoned or expunged over 2.3 million cannabis-related convictions since 2018, with about half a million cases resolved in the last year ...
Ohio Governor Advocates for Ban on Intoxicating Hemp Products Amid Cannabis Regulation Efforts
LOS ANGELES— Ohio Governor Mike DeWine has urged state legislators to ban hemp-derived cannabinoids, including delta-8 THC, citing potential risks to children. The call for legislative action comes as Ohio prepares to navigate the complexities ...
Florida Bill Proposes THC Limits in Cannabis Amid Legalization Debates
LOS ANGELES- In a move that could significantly impact the cannabis industry in Florida, State Representative Ralph Massullo has introduced a bill proposing to limit the potency of THC in cannabis products. This legislative effort ...
Canopy Growth Secures US$30 Million in Private Placement to Bolster Liquidity and Reduce Debt
NEW YORK – In a significant move to strengthen its financial position, Canopy Growth Corporation, a leading North American cannabis and consumer packaged goods company, has announced a major private placement offering. On January 9, ...
Tilray Brands Q2 Report Amid Cannabis and Beverage Expansion
LOS ANGELES- Tilray Brands, Inc., Cannabis and consumer packaged goods industries, has announced its financial results for the second quarter of fiscal year 2024, ended November 30, 2023. The company has reported a record net ...
Germany’s Path to Cannabis Legalization: A Potential Boon for Global Markets and U.S. Investors
BERLIN — Germany's recent announcement to legalize recreational cannabis use for adults has set the stage for what is expected to be a multi-billion dollar market, sparking significant interest from investors, companies, and countries worldwide, ...
MAPS Public Benefit Corporation Secures Over $100 Million for Groundbreaking PTSD Therapy
LOS ANGELES- MAPS Public Benefit Corporation a key player in mental healthcare innovation, has announced an oversubscribed Series A financing round, raising over $100 million. This significant funding milestone, which includes conversion of previously issued ...
Wisconsin Navigates the Complex Path Toward Cannabis Legalization Amid Political Divide
LOS ANGELES- Wisconsin’s journey toward cannabis legalization is unfolding against a backdrop of political complexities, with Governor Tony Evers, a Democrat, indicating openness to a Republican-led medical cannabis legalization plan. This stance emerges as broader ...
Record Destruction of Cannabis in Canada Points to Market Adjustments and Consumer Trends
NEW YORK- In a striking development, Canadian cannabis operators have destroyed a record amount of legal cannabis in 2022 and the first half of 2023, as per data from Health Canada. This action highlights the ...
4Front Ventures Corp. Initiates Comprehensive Financial and Leadership Revamp
LOS ANGELES- In a pivotal development, 4Front Ventures Corp., a multi-state cannabis operator, has embarked on a transformative journey, reshaping its financial landscape and ushering in a new era of leadership. This strategic shift is ...
Incannex Healthcare Concludes Phase 2 Trial of Psilocybin Therapy for Anxiety Disorder, Awaiting FDA IND Application
LOS ANGELES- Incannex Healthcare Inc., a pharmaceutical company in the development of medicinal cannabinoid and psychedelic medicine therapies, has recently completed a significant milestone in its PsiGAD-1 clinical trial. This Phase 2 study, focused on ...
Week In Review: MedMen Exits California; Florida Cracks Down on Hemp; Maryland Supreme Court Sidesteps Hemp THC Case; U.K.’s Medical Cannabis Use Rises Amid ADHD Medication Shortage
LOS ANGELES–Welcome to the far too-exciting world of cannabis and psychedelics, where it’s earnings season with updates from some of the leading MSOs outlined below. Capital Markets: Positive Quarterly Earnings from Leading Cannabis Companies Amidst ...
Week In Review: Earnings Season; Verano Holdings Financial Highs & Lows in 2023; Trulieve Claims $113M Tax Refund; New Mexico Advances Psilocybin Research with Memorial Legislation
LOS ANGELES–Welcome to the far too-exciting world of cannabis and psychedelics, where it’s earnings season with updates from some of the leading MSOs outlined below. Capital Markets: Positive Quarterly Earnings from Leading Cannabis Companies Amidst ...
Week In Review: Germany Legalizes Cannabis in Limited Way; Numinus Wellness Secures $6 Million in Public Offering to Fuel Psychedelic-Assisted Therapy Initiatives: New York Cannabis Control Board Advances with Adult-Use Licenses and Research Initiatives: Illinois Takes Bold Step Towards Psilocybin Therapy Legalization with the CURE Act
LOS ANGELES–Welcome to the far too-exciting world of cannabis and psychedelics, where it’s a tale of two markets: there’s innovation and progress in full swing in some parts of the country, while in other parts, ...
