420 with CNW Archives - Page 119 of 304

FridayJul 08, 2022 4:20 am

420 with CNW — New York Names Officer to Oversee Cannabis Diversity Measures

More than a year after New York legalized recreational marijuana, becoming the 15th state to allow adult-use cannabis, efforts are underway to prepare for the launch of legal recreational sales later this year. Officials have announced the appointment of Damian Fagon as the chief equity officer at the Office of Cannabis Management (OCM). The OCM was created by the Marijuana Regulation and Taxation Act in 2021 and is tasked with overseeing the licensing, cultivation, production, distribution, sale and taxation of cannabinoid hemp, recreational cannabis and medical marijuana in New York State. Fagon is a third-generation farmer with an extensive background…

ThursdayJul 07, 2022 4:20 pm

420 with CNW — An Analysis of Four Factors Driving the Marijuana Industry

America’s cannabis industry is projected to grow from $28 billion in 2021 to $197 billion in 2028 at a compound annual growth rate (CAGR) of 32.04%. Given the increased evidence of its medical potential coupled with how well the cannabis industry weathered the coronavirus pandemic and industry projections, plenty of investors have had their eyes on cannabis. But despite marijuana’s awesome growth potential, it is still susceptible to market factors with the ability to limit or enhance its growth. Public sentiment is one such factor. Cannabis has been criminalized for decades in the United States, with millions of Americans being…

ThursdayJul 07, 2022 4:20 am

420 with CNW — California State Fair Unveils Winners of Maiden Marijuana Competition

Last September, California officials announced that the California State Fair would host the country’s first-ever, state-sanctioned marijuana competition. Cannabis vendors from the state would be allowed to compete in the fair in categories such as cheese, beer and wine vendors, a move that pointed to the legitimization of the cannabis industry. The state fair recently unveiled the winners of this historic competition, awarding 60 medals and trophies to companies whose products had been deemed superior by judges via laboratory tests. In a press release, Jess Durfee, the chair of the California Exposition & State Fair Board, said that including marijuana…

WednesdayJul 06, 2022 4:20 pm

420 with CNW — White House Recognizes Cannabis’ Therapeutic Value, Promises to Make Reforms

President Joseph Biden has made his views on cannabis quite clear: although he believes in decriminalization and letting states formulate their own cannabis policies, he is an avid opponent of cannabis legalization. Despite that, news coming from the White House reveals that it still recognizes the medical potential of cannabis and that the Biden administration is committed to keeping its marijuana reform promises. Last week, the White House drug czar acknowledged that cannabis has therapeutic potential as a painkiller. He stated that Biden believed existing federal cannabis policies were ineffective and that the administration was still set on passing incremental…

WednesdayJul 06, 2022 4:20 am

420 with CNW — Only Strong Marijuana Firms Will Survive Economic Downturn

The coronavirus pandemic kickstarted a global economic downturn and plunged the world’s economy into the worst recession since World War II. According to the World Bank, most countries should expect their economies to head into a recession, with the global growth rate expected to slow down from 5.7% in 2021 to 2.9% in 2022. This atmosphere will undoubtedly weed out cannabis companies that were only in it for a quick buck as investors become more cautious with their money. In Europe, marijuana-based startups are having trouble raising capital amid growing fears of a looming recession and global stock markets plunge.…

TuesdayJul 05, 2022 4:20 pm

420 with CNW — Illinois Disburses $45 Million from Cannabis Taxes to Repair Drug War Harms

Early this year, the Illinois Department of Revenue estimated that in the two years since it first launched its recreational cannabis market, Illinois had collected more than $500 million in cannabis taxes. Now the state is planning on using some of those funds to repair the societal harms caused by the failed war on drugs and decades of prohibition. Illinois officials recently announced that they would be awarding $45 million in grants to reinvest in communities that had been hit the hardest by the drug war. Money generated from taxing the sale of recreational marijuana in the state would be…

TuesdayJul 05, 2022 4:20 am

420 with CNW — Trial Suggests Marijuana Could Replace Opioids in Pain Management

As more states have opted to end cannabis prohibition and launch legal cannabis markets, there has been a growing body of literature indicating that the controversial plant can be effective against a variety of medical issues. Several studies have found that marijuana can be used to treat chronic pain, and plenty of people are already using the controversial plant as an alternative to pharmaceutical pain medications. Now researchers currently working on a clinical trial to see whether cannabis can be used as an alternative to opioids in pain management have revealed that the pilot phase had “very promising” results. Run…

FridayJul 01, 2022 4:20 pm

420 with CNW — American Medical Association Approves Measure on Expungement of Cannabis Records

Millions of Americans across the country with cannabis-related offenses on their records may soon have the offenses expunged after the largest professional association of physicians in the United States passed a resolution in favor of expunging marijuana-related offenses. Last week, the American Medical Association (AMA) announced that it had passed a measure that would require states that have either decriminalized or legalized cannabis to expunge marijuana-related arrests and convictions that are now considered legal. The association made this announcement at its annual House Delegates meeting in Chicago, stating that it had already formally adopted this change in policy. A statement…

FridayJul 01, 2022 4:20 am

420 with CNW — New Congressional Measure Will Enable Cannabis Companies to List on Stock Exchanges

A pair of congressmen has introduced a bipartisan bill that seeks to allow cannabis companies to be listed on national stock exchanges. The bill would also grant the industry access to crucial financial services like banking, solving an issue that has plagued the industry since its inception. Rep. Guy Reschenthaler and Rep. Troy Carter are the cosponsors of the Capital Lending and Investment for Marijuana Businesses (CLIMB) Act. Filed last week, the legislation seeks to allow cannabis and ancillary businesses to access financial services such as checking accounts, cashless payments and loans, something federal law prohibits by threatening action against…

ThursdayJun 30, 2022 4:20 pm

420 with CNW — House Panel Asks Military to Reconsider Cannabis Penalties for Soldiers

Federal law prohibits American servicemembers from consuming cannabis. A 2018 notice declares that although dozens of states have legalized cannabis for medical or recreational purposes, federal law restricts military members from using cannabis, CBD (cannabidiol), any cannabinoid derivatives and THC-infused products. The notice also states that the ingestion of hemp and hemp-seed derivatives was prohibited because they could contain trace amounts of THC. This is despite the fact that studies have shown cannabis can be efficient in alleviating conditions such as, depression, chronic pain, insomnia and post-traumatic stress disorder (PTSD), which are common among military veterans. A key House panel…