Legal Affairs
PharmaCann to Shut Down its Denver Cannabis Grow Facility
DENVER – Chicago-based PharmaCann Inc., one of the largest privately held and vertically integrated Cannabis companies in the United States, has notified Colorado officials that it will permanently [?] close its major cultivation site in ...
South Carolina Senate Approves Bill to Keep Hemp THC Drinks and Gummies Legal
COLUMBIA – The South Carolina Senate voted 35-4 to advance a bill that would maintain legal access to hemp-derived THC beverages and gummies for adults while setting strict caps on potency and sales channels. The ...
Massachusetts Lawmakers Push Forward Psychedelic Therapy Programs
BOSTON – Massachusetts lawmakers have advanced legislation that would set up pilot programs for regulated psychedelic therapy, with one measure clearing a key committee in September 2025 and related proposals still under review. The Senate ...
Obituary: Barbara Webb: A Leader in Cannabis
From the Editorial Team at Highly Capitalized Network OBITUARY- Barbara Lynne (Christenson) Webb passed away on November 23, 2025, in Traverse City, Michigan, surrounded by her close family. Within the Cannabis industry Barbara was known ...
Cannabis-Infused Products Market to Reach $41B Billion in 2026, Research and Markets Reports
LOS ANGELES – Research and Markets has published its latest report on the Cannabis-infused products sector, forecasting the global market to grow from $33.62 billion in 2025 to $41.44 billion this year, a compound annual ...
Curaleaf Completes $500M Debt Refinancing, Extends Maturity to 2029
STAMFORD – Curaleaf Holdings Inc. has finalized a $500 million private placement of 11.5% senior secured notes maturing on February 18, 2029. The company announced the closing, marking what it describes as the largest bond ...
Virginia Medical Cannabis Generated Over $15M in January
RICHMOND – Virginia's medical Cannabis market reaped $15.1 million in sales during January, according to a report published by the Virginia Cannabis Control Authority. The figure, drawn from 126,706 transactions across the state's licensed pharmaceutical ...
PharmaCann to Shut Down its Denver Cannabis Grow Facility
DENVER – Chicago-based PharmaCann Inc., one of the largest privately held and vertically integrated Cannabis companies in the United States, has notified Colorado officials that it will permanently [?] close its major cultivation site in ...
South Carolina Senate Approves Bill to Keep Hemp THC Drinks and Gummies Legal
COLUMBIA – The South Carolina Senate voted 35-4 to advance a bill that would maintain legal access to hemp-derived THC beverages and gummies for adults while setting strict caps on potency and sales channels. The ...
Massachusetts Lawmakers Push Forward Psychedelic Therapy Programs
BOSTON – Massachusetts lawmakers have advanced legislation that would set up pilot programs for regulated psychedelic therapy, with one measure clearing a key committee in September 2025 and related proposals still under review. The Senate ...
U.S. Policy Shifts on Cannabis and Psilocybin for Chronic Pain Management
LOS ANGELES- In a landmark policy shift, the U.S. Drug Enforcement Agency (DEA) has announced plans to reclassify cannabis from a Schedule I to a Schedule III controlled substance, a category that includes less restricted ...
Global Landscape of Recreational Cannabis Legalization as of 2024
LOS ANGELES- As of April 2024, the global landscape for recreational cannabis legalization remains limited, with only nine countries having fully legalized its use nationwide, according to Visual Capitalist. Notably, Germany recently joined Malta and ...
Reunion Neuroscience Secures $103 Million for Development of Psychedelic Drug Therapy
LOS ANGELES- Reunion Neuroscience Inc., a developer of psychedelic drug treatments, has successfully raised $103 million in a Series A financing round. The round was co-led by MPM BioImpact and Novo Holdings, with additional participation ...
Thailand’s Prime Minister Proposes Recriminalization of Cannabis
LOS ANGELES - Thailand’s Prime Minister, Srettha Thavisin, announced on social media his intention to recriminalize cannabis, permitting its use solely for medicinal purposes. This move aligns with earlier suggestions from the country’s health minister ...
South Dakota Moves Toward Adult-Use Cannabis Legalization
LOS ANGELES- South Dakotans for Better Marijuana Laws (SDBML), a cannabis advocacy group, has recently submitted 29,030 signatures to South Dakota's Secretary of State in a bid to get an adult-use cannabis initiative on the ...
Vermont Legislature Passes Overdose Prevention Center Funding
LOS ANGELES -The Vermont legislature has recently passed a measure that aims to address the state's overdose crisis by establishing an overdose prevention center in Burlington. The Senate approved the proposal on May 2 with ...
Green Thumb Industries Reports First Quarter Results
NEW YORK- Green Thumb Industries Inc., a cannabis company, reported a net income of $31 million for the first quarter of 2023. Despite a slight decline from the fourth quarter revenue of $278 million, the ...
Canadian Medical Cannabis Exports Hit Record High Amid Domestic Decline
LOS ANGELES- Canada's medical cannabis industry has achieved a new milestone in exports, reaching a record CA$218 million in the fiscal year 2023-24, a substantial increase from CA$8 million in 2019-20. This surge is attributed ...
New York Faces Challenges with Illicit Cannabis Shops
NEW YORK- New York's legal cannabis market has faced significant hurdles since the state legalized adult use in March 2021. The market's expansion has been stymied by numerous lawsuits and changes in leadership, contributing to ...
New Hampshire Senate Committee Approves Cannabis Legalization Bill
LOS ANGELES- For the first time, a Senate committee in New Hampshire has approved a cannabis legalization bill, marking a significant milestone in the state's legislative history. House Bill 1633, which recently passed the Senate ...
New Jersey Cannabis Sales Hit Record High Despite Slowing Growth
NEW YORK- Cannabis retailers in New Jersey have achieved a new quarterly sales record of $201 million in the first three months of 2024. This represents a notable 38% increase in year-over-year growth and sets ...
Decline in Medical Cannabis Registrations in New Jersey and New Mexico
LOS ANGELES- Recent reports have highlighted a significant decline in the number of registered medical cannabis patients in New Jersey and New Mexico, following the launch of adult-use cannabis markets in both states. According to ...
UK Study Finds Psilocybin Effective in Treating Depression
LOS ANGELES- A recent study conducted by researchers in the United Kingdom has found promising results for psilocybin, the active psychedelic compound in "magic mushrooms," as a treatment for depression. The study, which was reported ...
Illinois Expands Cannabis Retail Licenses to Enhance Social Equity
LOS ANGELES- The Illinois state government has introduced an additional 35 social equity cannabis retail licenses to its recreational market, a move announced late last week, with expectations to issue another 13 in the forthcoming ...
Decline in Medical Cannabis Patients Following Adult-Use Market Launches
LOS ANGELES- Recent data from New Jersey and New Mexico has highlighted a significant decrease in the number of registered medical cannabis patients, coinciding with the establishment of adult-use cannabis markets in these states. Reports ...
New Initiative Explores Cultural and Societal Impacts of Psychedelics
LOS ANGELES- The University of California, Berkeley, and Harvard University have launched a groundbreaking collaborative initiative titled "Psychedelics in Society and Culture" aimed at expanding research into the cultural, societal, and humanistic aspects of psychedelics. ...
Missouri Court Upholds Local Cannabis Sales Taxes
LOS ANGELES- A recent ruling by St. Louis County Circuit Judge Brian May has affirmed the authority of Missouri cities and counties to impose their own sales taxes on cannabis dispensaries, in addition to the ...
Alaska House Advances Legislation to Prepare for Psychedelic-Assisted Therapy
LOS ANGELES- The Alaska House of Representatives has passed legislation aimed at preparing the state for the potential federal approval of psychedelic-assisted therapies. The measure, known as House Bill 228 (HB 228), was approved with ...
Cannabis Industry Licensing Trends
LOS ANGELES- The rapid expansion of the cannabis industry in North America has shown signs of cooling in the first quarter of 2024, with a noticeable decline in the number of both active licenses and ...
Red Light Holland Advances Psilocybin Research with Successful Truffle Testing
LOS ANGELES- Red Light Holland Corp., a production and distribution of functional mushrooms and psilocybin truffles, has announced the successful initial testing and dehydration of psilocybin truffles at CCrest Laboratories Inc. in Montreal, Canada. This ...
Minnesota Senate Advances Cannabis Legislation
LOS ANGELES- The Minnesota Senate has passed a measure aimed at advancing the regulation and legalization of cannabis, with a narrow vote of 34 to 32, following its approval in the House last month by ...
Canopy Growth Secures Additional Funding Amid Financial Struggles
LOS ANGELES- Canopy Growth Corp., a Canadian cannabis producer, announced a new round of funding, securing approximately $50 million through a financing deal. This funding follows a $35 million capital raise in January and comes ...
Cookies Expands Influence in Florida Cannabis Market
LOS ANGELES- Cookies, a player in the cannabis industry, has recently enhanced its footprint in the Florida market, a move that comes on the heels of favorable legal advancements in the state. This strategic expansion ...
Minnesota’s Strategic Early Cannabis Licensing Initiative
LOS ANGELES- Minnesota lawmakers are evaluating a measure to issue some cannabis cultivation licenses prematurely to circumvent delays in the upcoming adult-use cannabis program. The move, reported by the Star Tribune, aims to utilize existing ...
DEA Reschedules Cannabis, Boosting Industry and Sparking Calls for More Reform
LOS ANGELES- This week, the Drug Enforcement Administration (DEA) made a significant policy shift by reclassifying cannabis under the Controlled Substances Act (CSA), moving it from Schedule I to Schedule III, alongside drugs like Tylenol ...
