Chris@CNW, Author at CannabisNewsWire

ThursdayJan 25, 2024 4:20 am

420 with CNW — Congressional Researchers Highlight Shortcomings of Cannabis Rescheduling Recommendation

A recently published Congressional Research Service (CRS) report has highlighted the potential shortcomings of the U.S. Department of Health and Human Services’ (HHS) marijuana rescheduling recommendation. Last year, the HHS published a series of documents recommending that the U. S. Drug Enforcement Administration (DEA) reschedule marijuana to Schedule III of the Controlled Substances Act. HHS officials justified the recommendation on the grounds that cannabis currently has “accepted medical uses” and thus did not meet the conditions required of Schedule I drugs. Rescheduling cannabis from Schedule I to Schedule III would finally make it legal for doctors to prescribe marijuana at…

WednesdayJan 24, 2024 4:20 pm

420 with CNW — Study Suggests Marijuana Isn’t Effective as Treatment for Opioid Addiction

A recent study involving 8,367 patients undergoing treatment for opioid-use disorder has challenged the notion that cannabis serves as an effective remedy for overcoming opioid addiction. The study, published in “The American Drug and Alcohol Abuse” Journal, revealed that marijuana, when used outside of medical supervision, fails to exert any noteworthy impact on opioid consumption. The study carries significant implications for treatment programs in the United States, some of which impose a prerequisite for patients to abstain from marijuana before qualifying for life-saving interventions. This is predicated on the idea that people who use cannabis are more inclined to use…

WednesdayJan 24, 2024 4:20 am

420 with CNW — Czech Republic Wants to Legalize Marijuana Sans Legal Sales

The Czech Republic has revealed its plan to legalize adult-use marijuana. Local news media outlets reported that the measure aimed at legalizing adult-use marijuana wouldn’t include regulations for a legal market. Expats.cz reported that the government tabled a draft marijuana regulation measure last week. The Central European nation is among several other countries in Europe that are working on marijuana regulation. The country decriminalized the possession of marijuana for personal use in 2010, then legalized medical marijuana in 2013. However, the recreational use of marijuana remains illegal. In 2022, the country publicized its plans to legalize adult-use marijuana, which included…

TuesdayJan 23, 2024 4:20 pm

420 with CNW — Major Themes Marijuana Investors Can Expect in 2024

Despite a year of major highs and lows in 2023, cannabis investors are hopeful that this year will be better thanks to several major issues that are likely to boost the cannabis industry. Let’s take a look at five themes likely to shape the industry: Rescheduling prospects Last year, U.S. marijuana businesses witnessed substantial gains after the U.S. Department of Health and Human Services (HHS) recommended the rescheduling of cannabis from Schedule I to III of the Controlled Substances Act (CSA). If rescheduling materializes, it could alleviate the burdens imposed by Section 280E of the IRS, allowing marijuana companies to…

TuesdayJan 23, 2024 9:45 am

Astrotech Corp. (NASDAQ: ASTC) Subsidiary AgLAB: Breakthrough Technology For Ag-Distillers

Astrotech subsidiary AgLAB demonstrates the capability of significant improvements in yields for large scale producers of hemp and cannabis CBD-THC oils using breakthrough mass spectrometry technology The company’s AgLAB 1000-D2(TM) mass spectrometer and the Maximum Value Process(TM) testing method (“AgLAB MVP(TM)”) allows large-scale distillers to analyze oils during processing, and make real-time adjustments to boost yields and potencies Field trials resulted in improved ending-weight yields by an average of 30%, which can translate into bottom-line profits Astrotech presented the AgLAB Maximum Value Process at last year’s MJBizCon in November, it is the premier global hemp and cannabis business conference and…

TuesdayJan 23, 2024 4:20 am

420 with CNW — Illinois Bags $417M in Cannabis Taxes as 2023 Sales Soar to $1.6B

A report recently released by the Illinois Department of Financial and Professional Regulation shows that in 2023, recreational marijuana sales surpassed $1.6 billion. This figure is its highest amount since the state legalized adult-use marijuana in 2019. The drug’s legalization came after the state’s General Assembly approved the Illinois Cannabis Regulation and Tax Act, which was enacted in 2020. In addition to being the 11th state to legalize adult-use marijuana in the United States, Illinois was the first state to adopt a regulatory system for marijuana testing, cultivation and sales via a state legislature. The state of Illinois is also…

MondayJan 22, 2024 4:20 pm

420 with CNW — Feds Finally Publish Documents Revealing HHS Cannabis Rescheduling Recommendation

The federal government has released documents confirming that the U.S. Health and Human Services has recommended that the DEA categorize marijuana under Schedule III. Currently, the Controlled Substances Act classifies marijuana as a Schedule I substance, which means it has a high potential for abuse and has no accepted medical use. Health officials explained that marijuana had a lower potential for abuse in comparison to other substances under Schedule I or II and was already accepted for medical use in America. In their review, the health officials stated that more than 30,000 healthcare professionals across various jurisdictions in the U.S.…

MondayJan 22, 2024 4:20 am

420 with CNW — 2023 Data Shows Enrollment in Florida’s Medical Cannabis Program Kept Growing

A recent annual report has shown that the number of persons registered for the medical cannabis program in Florida experienced a gradual increase throughout the fiscal year 2023. However, the pace of growth showed a slight deceleration compared to earlier periods, attributed to the system’s maturation and increased focus on potential recreational cannabis legalization. According to the report, patient enrollment saw a 15% increase in the fiscal year 2022–2023 compared to 2021–2022. The concluded fiscal year witnessed a decrease in daily doses, primarily influenced by Florida’s emergency rule, which imposed limits on daily dosing. Additionally, the report highlighted a consistent…

FridayJan 19, 2024 4:20 pm

420 with CNW — Thailand Passes Draft Law Reversing Recreational Cannabis Legalization

Thailand’s recent political shift has set the stage for the introduction of fresh marijuana legislation, marking a major turnaround only 18 months after the nation took steps toward decriminalizing the substance. The initial lenient regulations sparked a flourishing marijuana industry, serving both locals and tourists across southeast Asia. However, the conservative coalition government, which assumed power late last year, has pledged to enforce stricter rules, restricting marijuana usage solely to medical purposes. Last week, the nation’s health ministry unveiled a draft measure outlining severe penalties, including high fines and potential one-year prison sentences for violators. The proposed legislation expressly limits…

FridayJan 19, 2024 4:20 am

420 with CNW — Data Shows Recreational Cannabis Sales Exhibited Mixed Results for Growth in 2023

Last year saw many regulated recreational cannabis markets record significant growth in their sales. While established markets such as Colorado recorded slight declines in sales, states such as Maine and Arizona saw growth in their markets. Below, we examine adult-use sales using data from regulators in different states. Arizona Recreational sales started strong last year, with monthly recreational cannabis sales peaking in March at $100 million. The state launched its adult-use cannabis market in 2021. Washington State Adult-use cannabis sales in the state have relaxed since the pandemic, with the state selling only $1.14 billion in recreational cannabis through November…

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Author: Chris@CNW