420 with CNW Archives - Page 36 of 307

ThursdayJun 20, 2024 4:20 pm

420 with CNW — Cannabis Operators Applaud End of Potency Tax in New York State

New York governor Kathy Hochul has successfully changed the state’s cannabis tax structure. Starting June 1, 2024, a new flat excise tax replaces the previous potency tax, marking the beginning of the new financial year. This move is part of New York’s $237 billion budget for FY 2025 and is receiving positive feedback from many in the cannabis industry, especially smaller retailers, processors and social-equity beneficiaries. With the tax reform, retail marijuana prices are expected to decrease, a significant development as licensed cannabis entities strive to compete with the numerous illegal shops, particularly in New York City. Governor Hochul had…

TuesdayJun 18, 2024 4:20 pm

420 with CNW — Slumping Marijuana Market in Colorado Triggers Industry Concern

In 2014, a Denver-based cannabis dispensary, 3D Cannabis, made history as the first seller of legal marijuana. Over a decade later, the dispensary bears a sign saying it is “temporarily closed," with the building’s doors and windows boarded up and the parking lot strewn with trash, symbolizing the challenges facing Colorado’s marijuana market. Once a thriving success, the industry is now marked by failed entities and struggling entrepreneurs due to regulatory challenges, market saturation and increased competition from neighboring states. The market’s sales peaked in 2020 at $2.2 billion. But by 2023, revenues had fallen to $1.5 billion, which led…

MondayJun 17, 2024 4:20 pm

420 with CNW — DeSantis Vetoes Bill Banning Hemp Intoxicants in Florida

As Florida governor Ron DeSantis campaigns against a ballot initiative for cannabis legalization, he has paradoxically vetoed a bill aimed at banning the sale of intoxicating hemp-derived cannabinoids in the state. This decision comes in the wake of reports that Governor DeSantis intended to block the hemp prohibition bill, hoping the hemp industry would financially support his campaign against the cannabis measure that voters will decide on in November. Although DeSantis did not explicitly reference the cannabis legalization measure in his veto letter, he noted that while the goals of SB 1698 are admirable, the measure would impose significant regulatory…

FridayJun 14, 2024 4:20 pm

420 with CNW — Ohio Officials Post Adult-Use Cannabis License Application Forms as Market Launch Looms

Cannabis regulators in Ohio have released guidelines to help medical marijuana dispensaries prepare for the application process to obtain dual licenses. These licenses would allow them to serve both medical patients and recreational consumers. Applications are expected to open soon, and the Cannabis Control Department (DCC) has provided a FAQ and detailed instructions to assist potential applicants in starting the process. The provided materials cover various aspects, such as eligibility requirements, the approval procedure, regulations for dual license holders and the necessary documentation for applications. One question addresses the timeline for reviewing and issuing dual licenses following the submission of…

ThursdayJun 13, 2024 4:20 pm

420 with CNW — Senators Revive Push for Cannabis Industry to Access SBA Resources, Loans

A group of senators from the Democratic Party is urging a significant committee to ensure small cannabis entities have equitable access to federal Small Business Administration (SBA) lending programs and development resources available to other industries. In an April letter to the leaders of the Appropriations subcommittee, the senators urged that the FY 2025 FSGG spending measure include provisions to stop the SBA from rejecting loan applications from small cannabis entities operating legally in states that have approved marijuana use and sales. Senator Jacky Rosen led the letter, asking the subcommittee leaders to add clauses to the spending bill that…

WednesdayJun 12, 2024 4:20 pm

420 with CNW — California Moves to Crackdown on Hemp Intoxicants

It has become clear in recent years that obtaining a cannabis license is both expensive and complicated. As a result, many people have found it easier to sell intoxicating products, such as hemp THC beverages. However, this trend may be shifting, especially in California. Hemp THC beverages are drinks that contain hemp-derived delta-9 THC. You might be wondering how this is possible given the federal law that restricts THC content to 0.3%. Interestingly, these beverages can still be intoxicating without exceeding this limit. For instance, a drink containing 5 to 10 milligrams of hemp-derived THC can be intoxicating while still…

TuesdayJun 11, 2024 4:20 pm

420 with CNW — Survey Explores Views of Americans on Cannabis Legalization

As the United States moves closer to rescheduling and legalizing cannabis, critical questions emerge about who should benefit from these changes and who is best suited to craft equitable cannabis policies. Big businesses frequently have a big say in what laws are passed, and the cannabis industry seems to be no exception. But who, in the opinion of Americans, ought to have more influence over cannabis laws? A recent survey by the Parabola Center, a nonpartisan think tank made up of experts in drug policy and law who advocate for marijuana legalization with a special emphasis on small enterprises and…

MondayJun 10, 2024 4:20 pm

420 with CNW — Study Says Cannabis Terpenes Equal to Morphine in Pain Management

A new study exploring the potential of marijuana terpenes as treatments for chronic neuropathic pain suggests that these compounds could be as effective as morphine for pain relief, showing similar reductions in pain markers when administered via injection. Interestingly, when terpenes were combined with morphine, they enhanced the drug’s effectiveness as well. The study found that, unlike morphine, none of the terpenes triggered a significant reward response, implying that they might be effective pain relievers without the risk of addiction or dysphoria. However, vaporized or orally administered terpenes did not show much impact on pain relief. The authors highlighted that…

FridayJun 07, 2024 4:20 pm

420 with CNW — Daily Marijuana Use Has Now Overtaken Alcohol Use in the US

According to a recent survey, the number of Americans who use marijuana daily or almost daily has increased relative to those who use alcohol at the same frequency. The findings, which have been published in the “Addiction Journal,” are based on information gathered over the previous 40 years by the National Survey on Drug Use and Health. According to the report, 17.7 million people used cannabis daily in 2022, overtaking the 14.7 million people who drink alcohol every day for the first time. Although alcohol is still consumed more frequently overall, the survey shows that daily cannabis consumption has significantly…

ThursdayJun 06, 2024 4:20 pm

420 with CNW — Republic of South Africa President Signs Bill Legalizing Marijuana

The president of South Africa has formally signed a measure making adult use, growing and possession of cannabis legal. Just one day before the national elections, President Cyril Ramaphosa signed the Cannabis for Private Purposes Act (CfPPA) into law. The National Council of Provinces gave its support to the bill in February after it was enacted by the National Assembly in November 2023. This legislative change has been in development for several years, beginning with a 2018 Constitutional Court ruling that declared the ban on marijuana cultivation and simple possession unconstitutional, requiring legislative amendments in two years. Although the bill…