Chris@CNW, Author at CannabisNewsWire

TuesdayOct 10, 2023 4:20 pm

420 with CNW — Could Marijuana Rescheduling Result in Nationwide Legalization?

The discussion surrounding the legalization of cannabis has remained a prominent topic in recent times, with several states choosing to take matters into their own hands by legalizing it within their borders rather than waiting for federal intervention. However, there is now a glimmer of hope on the federal front as health officials have recommended marijuana reclassification, potentially signaling a significant stride toward nationwide legalization. Unfortunately, this isn't as straightforward as it may appear. Currently, marijuana is categorized as a Schedule I drug, a classification that implies the DEA deems it as lacking a recognized medical purpose and having a…

TuesdayOct 10, 2023 4:20 am

420 with CNW — Cannabis Dispensaries Happy That SAFER Banking Act Has Progressed to Senate Floor

Cannabis businesses across the United States have applauded a recent vote by a committee of the U.S. Senate to advance cannabis banking legislation and move it to the senate floor. The committee approved a revised version of a bipartisan marijuana banking bill for the first time last week, raising hopes that America’s state-legal cannabis industry could finally gain access to financial and banking services. Members of the Senate Banking Committee voted in favor of the Secure and Fair Enforcement Regulation (SAFER) Banking Act in a 14 to 9 vote just a week after bill sponsors Senators Steve Daines and Jeff…

MondayOct 09, 2023 4:20 pm

420 with CNW — Marijuana Companies in Canada Tap Government Funding Programs

An increasing number of Canadian marijuana companies are tapping into funding sources from the government to expand their research projects amid reduced investor interest in the cannabis industry. According to a recent MJBizDaily report, cannabis companies in Canada have accessed more than $2.2 million (C$3 million) in federal funding over the past 12 months. Cannabis companies in Canada and the United States have struggled to secure capital investment indecent years. The Canadian marijuana sector has registered especially poor performance, law firm Miller Thomson notes, costing investors some $131 billion and significantly damaging investor confidence in the industry. With no other…

MondayOct 09, 2023 4:20 am

420 with CNW — California Legislators Send Marijuana Bills to Governor’s Desk

California legislators have approved a series of marijuana-related bills in their just-concluded session. The bills cover various aspects of the industry and have garnered significant attention, particularly from industry professionals. During the session, several cannabis-related laws were introduced, including one that was designed to safeguard workers who use marijuana in traditional office settings. Governor Gavin Newsom has until Oct. 14, 2023, to either reject or sign the measures. Three bills have taken center stage in discussions among California's cannabis industry insiders, those addressing issues related to social equity, labeling and consumption lounges restrictions. SB 51, which seeks to rectify historical…

FridayOct 06, 2023 4:20 pm

420 with CNW — US Nurses Association Recognizes Marijuana as Specialty Practice Area

The American Nurses Association (ANA) has released a formal statement recognizing marijuana as a specialty practice area for nursing. The statement, which was released last week, highlighted that cannabis nurses would play a crucial role in providing patients with guidance and education on how to incorporate cannabis into treatment. Currently, the ANA represents more than 5 million nurses across the United States. The organization’s president, Jennifer Mensik Kennedy, stated that this move underscored the crucial role and special contribution of marijuana nurses to the healthcare system and promoted integration of marijuana treatments for health care consumers in different healthcare settings.…

FridayOct 06, 2023 4:20 am

420 with CNW — Germany’s Marijuana Legalization Bill Advances Despite Opposition from State Representatives

Contenders of a proposed measure aiming to legalize cannabis in Germany faced a setback as they failed to garner sufficient support to thwart its progression through the legislative process. Germany's legislative framework comprises two main chambers: the Bundesrat (also known as the Federal Council), comprising individual states’ representatives, and the Bundestag, which comprises democratically elected legislators. The legalization measure was presented in the Bundesrat, where lawmakers advocated for amendments but were unable to halt its advancement. Germany’s federal cabinet, from whom the measure originally came, will now respond to the Bundesrat's input before sending the law to the Bundestag for…

ThursdayOct 05, 2023 4:20 pm

420 with CNW — Wholesale Marijuana Prices Rebound in Several States

Wholesale marijuana prices have recently found stability or even experienced slight rebounds in select markets during the summer. However, industry experts are advising cultivators to prepare for a potential renewed downward trend as the fall harvest bolsters inventories through the year's end. Ben Burstein, a strategist at LeafLink, points out that a significant inventory buildup is observed across the industry during this time of the year, particularly around the harvest season, triggering substantial price drops. LeafLink's data gathered from 13 states shows that after several months of consistently hitting record-breaking lows, wholesale cannabis flower prices have stabilized in certain well-established…

ThursdayOct 05, 2023 4:20 am

420 with CNW — Concerns Arise as Few Blacks Enroll for UK Study on Marijuana’s Effects on the Brain

A campaign behind a UK-based study to research the effects of marijuana use on the brain is struggling to recruit Black and Asian volunteers who smoke cannabis regularly. The lack of adequate representation in the volunteer pool has raised concerns that the study’s findings would not be truly representative of the United Kingdom’s population. With £2.5m ($3.04 million) in funding, the King’s College London study seeks to understand how cannabis use can lead to psychosis and paranoia in some users but have no such effects in other users. Findings from the upcoming study could open the door to expanded therapeutic…

WednesdayOct 04, 2023 4:20 pm

420 with CNW — SAFER Banking Bill Clears Panel, Heads to Senate Floor

The Senate Banking Committee advanced a new bill on Sept. 27, 2023, that would grant marijuana businesses access to banking services. The bipartisan measure, the Secure and Fair Enforcement Regulation (SAFER) Banking Act, seeks to provide legal safeguards for financial institutions that choose to offer services to state-regulated cannabis enterprises. Senator Jeff Merkley (D), the bill's lead sponsor, celebrated this progress as a historic event, highlighting the remarkable spirit of cooperation across party lines. He expressed his concerns about the current scenario where legal cannabis businesses are forced to operate solely in cash, terming it an invitation to criminal activities…

WednesdayOct 04, 2023 4:20 am

420 with CNW — Marijuana Banking Outlook Improves in Senate

Banking access in America’s state-legal marijuana industry has been a controversial topic since its inception. Federal law prohibited cannabis even as dozens of states legalized the plant for medical and recreational use, resulting in a state-level industry that dealt in a federally outlawed product. Consequently, businesses in the cannabis sector were unable to access banking and financial services as financial institutions generally avoided state-legal cannabis cultivators, processors, and retailers for fear of federal reprisal. Efforts by a group of lawmakers to mitigate this issue and finally grant the cannabis industry access to banking have generally moved at a slow pace,…