420 with CNW Archives - Page 122 of 297

TuesdayApr 19, 2022 4:20 pm

420 with CNW — Congress Appoints Negotiators to Finalize Manufacturing Bill with Possible Cannabis Banking Protections

Cannabis banking has been a contentious issue since states started legalizing medical and recreational cannabis. Since federal law prohibits the cultivation, production and sale of cannabis, most financial institutions refuse to work with businesses in the cannabis space. This forces marijuana businesses to operate on a cash-only basis, which significantly increases the risk of robberies and prevents these companies from accessing much-needed capital. After years of advocating for access to financial services, the cannabis sector is a step closer to its goal after Congress appointed negotiators to finalize a manufacturing and innovation bill that would protect banks that choose to…

TuesdayApr 19, 2022 4:20 am

420 with CNW — Why Women Use CBD Supplements Daily

More and more women are turning to a cannabis extract called cannabidiol (CBD) as an alternative treatment. Unlike THC, which is the main psychoactive element in cannabis, CBD does not intoxicate users. Studies have found that the cannabinoid has plenty of medical potential and can be used to alleviate conditions such as chronic pain and mood disorders, including PTSD, in place of conventional pharmaceutical treatments. The medical and health and wellness industries have taken a particular liking to CBD due to its alleged medicinal properties. And, according to data from Ease Survey, female baby boomers account for a large percentage…

MondayApr 18, 2022 4:20 pm

420 with CNW — University of Mississippi Research Shows Marijuana Legalization Reduces Admissions in Foster Care

According to a recent study undertaken by University of Mississippi researchers, the legalization of cannabis, especially for recreational use by adults, is linked to a minimum of 10% reduction in the rates at which kids are admitted into foster care homes. These reductions occur for placements associated with neglect, physical abuse, abuse of drugs (excluding marijuana) or alcohol as well as for parental incarcerations. The study further indicates that if marijuana were to be legalized federally, there would be massive savings with regard to the money injected into foster care each year. To arrive at these conclusions, the team of…

MondayApr 18, 2022 4:20 am

420 with CNW — Federal Regulator Cheers State-Level Cannabis Banking Reforms Amid Congressional Inaction

Banking is one of the most crucial resources the state-legal cannabis industry is missing out on due to federal prohibitions. Fearing retaliation from the federal government, most financial institutions refuse to work with cannabis businesses, depriving them of financial services such as bank accounts and loans. Additionally, it forces marijuana businesses to operate on a cash-only basis, which significantly increases the risk of burglaries and robberies. However, some states have made efforts to increase access to banking services in the nascent cannabis sector in a bid to address these problems. Former chair of the National Credit Union Administration (NCUA) Rodney…

ThursdayApr 14, 2022 4:20 am

420 with CNW — Report Finds That Recreational Cannabis Generated More Than $3.7B in Tax Revenue

A recent report shows that last year states which had legalized cannabis for adult-use cumulatively raked in more than $3.7 billion in tax revenue from recreational marijuana sales. This report follows up on an analysis the Marijuana Policy Project released at the start of this year, which examined the total adult-use marijuana tax revenue collected by all the states that have legalized cannabis since recreational sales began in Washington State and Colorado. The organization stated that the total tax revenue generated since recreational sales began in 2014 until March of this year was about $11.2 billion. Toi Hutchinson, CEO and…

WednesdayApr 13, 2022 4:20 pm

420 with CNW — Four Factors Marijuana Companies Can Leverage to Tap the Low-Sugar Craze

The cannabis edibles segment has slowly been gaining popularity over the years, eventually generating $1.28 billion in sales in 2021. Cannabis companies have done this by incorporating cannabinoids such as THC and CBD into a wide variety of foodstuffs. However, one segment marijuana companies have had trouble breaking into is sugar-free foods. As people become more aware of the long-term effects of heavy sugar consumption, a growing percentage of the population is being drawn towards low-sugar alternatives. But with cannabis slowly shedding the “stoner” image and becoming more of a wellness product, TribeTokes CEO Degelis Tufts Pilla says cannabis companies…

WednesdayApr 13, 2022 4:20 am

420 with CNW — Thailand Foresees High-End Marijuana Tourism as Legalization Looms

As territories around the world legalize cannabis, a new segment dubbed “cannabis tourism” has emerged. Folks from countries and states that haven’t legalized cannabis travel to regions that have legal cannabis, bringing in millions of dollars in cannabis purchases. For example, in 2016, the Colorado Department of Revenue reported that around 6.5 million cannabis tourists had traveled to the state to purchase and consume marijuana. Thailand, which is one of the strictest countries in the world in terms of drug offenses, may soon be benefitting from cannabis tourism as well. The country's narcotics board recently announced plans to delist cannabis…

TuesdayApr 12, 2022 4:20 pm

420 with CNW — Illinois Officials Say Cannabis Sales Recovered to $131 Million in March

A report released earlier this week by the Department of Financial and Professional Regulation in the state of Illinois shows that the state recorded about $131 million in legal recreational marijuana purchases in March. The state broke its annual record for marijuana sales last year, with more than $1.4 billion in cannabis being sold. However, cannabis product purchases reduced during the first two months of this year. This new figure makes this the state’s second-highest recorded sales for adult-use cannabis since the industry’s opening in 2020. In the report, the department stated that last month, about $90.3 million in adult-use…

TuesdayApr 12, 2022 4:20 am

420 with CNW — House Approves Bipartisan Cannabis Research Measure Days After Approving Federal Legalization Bill

Earlier this week, the House of Representatives passed a bipartisan cannabis research measure designed to streamline research on marijuana, partly by permitting researchers to access products sold in state-legal dispensaries. This vote comes days after the chamber approved the MORE Act , which would federally legalize marijuana. The research measure, dubbed the Medical Marijuana Research Act, was sponsored by Rep. Andy Harris and Rep. Earl Blumenauer and was approved by the legislators in a 343 to 75 vote. Both the Senate and the House approved earlier versions of their separate marijuana research measures in 2020. However, none of these bills…

MondayApr 11, 2022 4:20 pm

420 with CNW — Schumer Reaches Out to GOP Senators for Input on Upcoming Cannabis Legalization Bill

Senate Majority Leader Chuck Schumer has made his support for cannabis reform quite clear. Last year he revealed that he was working on a bill that would federally legalize cannabis and he has stated that he would act on cannabis legislation with or without President Joe Biden's approval. However, efforts to pass some kind of marijuana legislation, whether it is widespread reform or cannabis banking, have been held back by the GOP. Cannabis legalization is one of the many things Republicans and Democrats can’t seem to agree on. While a lot of Democrats believe that legalizing cannabis would be beneficial…

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