September 2023 - CannabisNewsWire

FridaySep 29, 2023 4:20 pm

420 with CNW — NCAA Panel Recommends Removal of Cannabis from Prohibited Substances List

A committee within the NCAA has officially recommended removing cannabis from the list of prohibited substances for college athletes. The Committee on Competitive Safeguards and Medical Aspects of Sports (CSMAS) reached this conclusion following a recent meeting, urging all three governing bodies within the association to enact legislation that would cease the testing and penalizing of players for cannabinoids. The committee based its recommendation on several factors, including the inadequacies of the current policy, their conviction that marijuana does not improve athletic performance and the significance of adopting a harm-reduction approach. Should the reform be accepted, it will build upon…

FridaySep 29, 2023 9:45 am

Lexaria Bioscience Corp. (NASDAQ: LEXX) Steadily Advancing its DehydraTECH(TM) Technology, Having Demonstrated its Potential Across Multiple Areas of Application

Lexaria’s patented DehydraTECH(TM)-processed CBD has shown its ability to lower blood pressure in patients over multiple weeks This technology has also shown positive impacts in obese diabetic-conditioned animals from its DIAB-A22-1 pre-clinical study The NIC-H22-1 human nicotine study also demonstrated a statistically significant difference to achieve maximum blood saturation These results have demonstrated DehydraTECH’s potential while propping it to take advantage of vastly untapped markets with potential for growth in the coming years Lexaria Bioscience (NASDAQ: LEXX), a global innovator in drug delivery platforms, is steadily advancing its patented DehydraTECH(TM) technology for its growing range of applications, which include oral…

FridaySep 29, 2023 4:20 am

420 with CNW — GOP Senators File Measure Seeking Congressional Approval of Marijuana Scheduling Change

Two Republican lawmakers have filed a measure that would force federal agencies to receive Congressional approval before they can reschedule cannabis. The Deferring Executive Authority (DEA) Act is sponsored by Senators Steve Daines and Cynthia Lummis, who provided brief previews of the measure during statements regarding the Secure and Fair Enforcement Regulation (SAFER) Banking Act. The recently introduced measure would require any federal agency interested in rescheduling cannabis to first submit to Congress its proposal for transferring the Schedule I drug from one classification to another. Congressional lawmakers would have the chance to review the proposal and would be granted…

ThursdaySep 28, 2023 4:20 pm

420 with CNW — California Cannabis Companies Urge Newsom to Veto New Product Labeling Law

California's cannabis companies are urging Governor Gavin Newsom to reject a recently passed measure aimed at dissuading children from accessing marijuana products. The businesses argue that the bill would result in the prohibition of the current branding of numerous established products while failing to address the persisting issue of the black market. Last week, the California Assembly passed AB 1207, which effectively bans any packaging or labeling of marijuana products deemed “enticing to minors.” This bill defines such packaging as any promotional material featuring elements such as cartoons, toys, robots, fictional or real humans, animals, fruits, vegetables, or anything else…

ThursdaySep 28, 2023 4:20 am

420 with CNW — Bipartisan Senators Unveil SAFER Marijuana Banking Bill

Bipartisan senators led by Senate Majority Leader Chuck Schumer have formally unveiled a revised cannabis banking bill that would grant America’s state-legal cannabis industry access to financial services. Called the Secure and Fair Enforcement Regulation (SAFER) Banking Act, the measure would ensure state-legal cannabis businesses could access bank deposit accounts, insurance, cashless payments and a variety of other financial services that are accessible to businesses in other industries. The cosponsors for the revised bill include Senators Chuck Schumer, Steve Daines, Jeff Merkley, Kevin Kramer, Cynthia Lummis, Krysten Sinema, Cory Booker, Bob Mendelez and Dan Sullivan. A statement from the cosponsors…

WednesdaySep 27, 2023 4:20 pm

420 with CNW — Major Hitch: DeSantis Dislikes Cannabis, But Major Funder Is Working for End of Prohibition

Florida governor Ron DeSantis has been vocal about his disapproval of recreational marijuana, calling it a significant issue and expressing his concerns about its impact. However, an interesting twist arises as the driving force behind DeSantis' presidential campaign, led by GOP strategist Jeff Roe through Vanguard Field Strategies and Axiom Strategies, is actively supporting a campaign to legalize recreational marijuana in Florida. Axiom and Vanguard have received nearly $29 million from Smart and Safe Florida, an organization advocating for a 2024 ballot initiative to legalize adult-use cannabis. Ironically, the companies, despite their involvement in advancing marijuana legalization in Florida, are…

WednesdaySep 27, 2023 4:20 am

420 with CNW — Leafly Lawsuit Wants New York to Lift Ban on Third-Party Cannabis Marketing

Marijuana e-commerce platform Leafly has filed a lawsuit challenging the New York Office of Cannabis Management’s ban on third-party marketing and advertising services in the state’s nascent recreational cannabis industry. A recent report from Spectrum News 1 revealed that Leafly Holdings is a plaintiff in a suit against state cannabis regulators. The Albany County state Supreme Court lawsuit argues that the state’s rollout of cannabis has been “disastrous” and has essentially hampered the fledgling industry’s growth. The suit comes at a time when New York cannabis regulators are dealing with litigation from several parties, which has held back the rollout…

TuesdaySep 26, 2023 4:20 pm

420 with CNW — New York Clamps Down on Marijuana Black Market as Licensed Firms Struggle

New York authorities are intensifying their efforts to combat the proliferation of unlicensed shops selling marijuana across the state in response to the ongoing struggle to establish a thriving legal marketplace for the substance. With the legalization of cannabis in 2021, an influx of unauthorized vendors peddling cannabis, vape products, edibles and more has posed a significant challenge to the state's legal cannabis industry, with New York City bearing the brunt. Presently, only 23 legal cannabis dispensaries are operational statewide, and nine are located in NYC. A recent study conducted by the Independent Budget Office of NYC revealed that approximately…

TuesdaySep 26, 2023 4:20 am

420 with CNW — Federal Data Reveals Uptick in Financial Institutions Serving Cannabis Firms

New data from the Financial Crimes Enforcement Network (FinCEN) has revealed that a growing number of financial and credit institutions are working with businesses in the cannabis sector. America’s state-legal cannabis industry has had limited access to banking and financial services for most of its existence because marijuana is still classified as a Schedule I product at the federal level. Unable to access bank accounts or use cashless payment services, cannabis businesses across the country had no choice but to operate on a cash-only basis, which significantly increased their risk of violent robberies. However, after industry players and lawmakers spent…

MondaySep 25, 2023 4:25 pm

420 with CNW — US DOJ Starts Issuing Cannabis Pardon Certificates Following Mass Pardons by Biden

The issuance of formal certificates by the Justice Department to individuals who were pardoned by President Joseph Biden in October 2022 seems to have commenced. While neither the Office of the Pardon Attorney nor the Department of Justice have formally announced the issuance of these certificates, some applicants have received digital copies. Last week, Kevin B. Gilnack shared an image of his pardon certificate on social media. These pardon certificates will allow those whose marijuana possession convictions were overturned by the executive order to show that they received clemency. This will help prevent hurdles they may face in obtaining housing,…

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Month: September 2023