420 with CNW Archives - Page 135 of 305

MondayMar 14, 2022 4:20 am

420 with CNW — Which Branch of the US Federal Government Could Initiate Marijuana Policy Reform?

The U.S. cannabis industry is experiencing a boom right now with Americans spending almost $25 billion on adult use cannabis products in 2021. Despite the growth, the industry has been affected by outdated policies that classify the drug as a Schedule 1 substance. This has greatly affected business operations, and as a result, corporations are working with advocacy groups to lobby for reforms that could significantly transform the industry. Meanwhile, countries such as Canada and the United Kingdom have changed their legislation to promote legality and medical research of the drug. As the midterm polls approach, industry experts are predicting…

FridayMar 11, 2022 4:20 pm

420 with CNW — A Glimpse at the Road Ahead Before Marijuana Beverages Dominate the Market

Released estimates show that by the end of this year, the THC-infused beverages market will be valued at $340 million. Manufacturers of marijuana beverages need to understand the gaps in the market and find ways to bridge those gaps in order to approach the same levels of market share as its alcohol counterpart. Consumer sentiment is the primary driver in the creation of new categories, and there are four areas of opportunity driven by consumer sentiment, which manufacturers in the flourishing cannabis beverage industry should consider. Those areas include the following: Individuals who are sensitive to the effects of alcoholic…

FridayMar 11, 2022 4:25 am

420 with CNW — Data Shows More Banks Are Working with Cannabis Businesses as Clients

Data recently released by the Financial Crimes Enforcement Network shows that the number of financial institutions working with cannabis businesses grew in 2021. While it isn’t clear if this increase is associated with moves in Congress to approve a marijuana banking reform measure, this federal data shows that banks feel more comfortable serving cannabis businesses located in state-legal markets. As of September 2021, there were 755 credit unions and banks that revealed that they were actively servicing marijuana clients. This is a slight increase from the figure recorded in the previous quarter. Despite the presence of the Financial Crimes Enforcement…

ThursdayMar 10, 2022 4:20 pm

420 with CNW — Poll Reveals More Americans Prefer Marijuana Consumption to Alcohol

According to a YouGov survey, many Americans prefer that people switch their consumption preference from alcohol to marijuana. The survey was conducted in February 20200, and it relied on responses from 10,412 Americans. According to the poll, 27% of the respondents agreed with the idea of people substituting marijuana for alcohol while 20% disagreed. Meanwhile, the majority — some 38% — replied that it was neither good nor bad while the remaining 15% were unsure. Several studies have been done in the past to compare the pros and cons of marijuana to those of alcohol. Proponents have indicated the long-term…

ThursdayMar 10, 2022 4:20 am

420 with CNW — Unions, Businesses and Groups Spend Millions Lobbying for Federal Cannabis Reforms

As more states in the U.S. legalize marijuana for medical or recreational use and the industry grows, political not-for-profit organizations, trade associations and cannabis businesses continue to lobby for cannabis reform and legalization. Lobbyists are being paid a lot to weigh in on the cannabis reform measures being introduced in Congress, with OpenSecrets finding that 22 clients spent roughly $4.3 million last year to employ professional lobbyists to keep tabs on cannabis reform. OpenSecrets, which is a not-for-profit research group tracking political spending, found that this figure had increased from the $3.6 million recorded in 2020, noting that in the…

WednesdayMar 09, 2022 4:20 pm

420 with CNW — Delayed Review Leaves Canada’s Cannabis Industry in Suspense

A review of Canadian legislation that seeks to address key issues in the country’s cannabis industry has been delayed. The Cannabis Act is in need of a mandatory review that was scheduled for October 2021, three years after Canada made it legal to use marijuana for recreational purposes. According to Tammy Jarbeau, a health spokesperson, a legislative review is currently in the works. Once the review launches, the industry seeks to address issues, some of which are not covered in the Cannabis Act. Some of those issues include excise taxes, potency limits of products, and the marketing and advertising of…

WednesdayMar 09, 2022 4:25 am

420 with CNW — Online Article on Former President Clinton’s Favorable Comments on CBD Deleted

Cannabis is one of the most polarizing topics in America. While some wrongly believe that the controversial drug inevitably leads to addiction and criminal activity, others are appalled that millions of Americans have had their lives disrupted by what they see as draconian prohibition rules targeting a benign substance. With the White House, Senate and Congress in the hands of the Democrats, marijuana policy has become even more of a hot topic. A now-deleted news report from Cannabis & Tech Today stated that even former president Bill Clinton had heard about CBD’s potential as an alternative medicine. The article was…

TuesdayMar 08, 2022 4:20 pm

420 with CNW — Cannabis and Civil Rights Reformers Want Legalization Bill Voted on in March

Last week, cannabis advocacy groups joined with civil rights groups to come together through a coalition and address the U.S.House. Through a letter, the groups called for a floor vote on a bill this month that would legalize cannabis on a federal level as well as promote equity. More than 20 organizations, including the National Urban League, American Civil Liberties Union and Human Rights Watch, came together under the Marijuana Justice Coalition (“MJC”). The coalition has mentioned that reform is needed since vote delay will lead to an increase in incarceration rates for cannabis-related offenses. The bill in discussion is…

TuesdayMar 08, 2022 4:20 am

420 with CNW — Cannabis Companies in Germany Attract Investments as Nation Gears Up for Recreational Sales

Cannabis startups in Germany are experiencing an uptake in investment funding as they look to capitalize on the potential of legalization of recreational marijuana. This comes as the sector of medical marijuana, which is legal, is experiencing tremendous growth. Investment funding in the cannabis sector experienced a slow growth in 2020 before regaining its momentum last year. According to Stephen Murphy, the CEO and cofounder of marijuana research firm Prohibition Partners, this year has begun with a positive start as investors position themselves to benefit from the burgeoning market. Additionally, investors are looking forward to the legalization of recreational marijuana…

MondayMar 07, 2022 4:20 pm

420 with CNW — Local Authorities in California Start Granting Tax Relief to Cannabis Businesses

Local governments in the state of California are granting tax relief to marijuana businesses after state legislators failed to lower cannabis taxes. The tax rollbacks by counties and cities primarily reflect lobbying from local businesses and residents as well as industry organizations. The local governments have argued that taxing the industry at all levels of the supply chain is strengthening the illegal cannabis market while also making it hard for marijuana companies to stay afloat and conduct their business. Various localities including the counties of Sonoma and Humboldt and the cities of San Diego and Desert Hot Springs are a…

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