420 with CNW Archives - Page 42 of 320

ThursdayOct 03, 2024 4:20 pm

420 with CNW — Kentucky Officials Prepare to Hold Medical Cannabis License Lottery

Kentucky will begin its lottery for medical cannabis business licenses next month, marking a key milestone in launching the state’s medical marijuana program. There has been an overwhelming response to the program, with Kentucky officials receiving close to 5,000 applications for business licenses before the Aug. 31, 2024, deadline. Most of these applications, around 4,096, came from individuals and groups wanting to open dispensaries. However, only 48 of those dispensaries will be granted licenses. Governor Andy Beshear commented on the significant interest, stating, “The results speak for themselves. There is amazing, even overwhelming, interest, particularly from Kentuckians. This demonstrates that…

WednesdayOct 02, 2024 4:20 pm

420 with CNW — IRS to Keep Applying 280E Until Marijuana Reclassification Completed

The U.S. Internal Revenue Service (IRS) intends to continue seeking tax payments from cannabis businesses that have taken deductions in anticipation of possible federal changes, according to an attorney with the agency. Even if marijuana is rescheduled federally, the IRS could theoretically seize assets from marijuana companies that fail to meet their tax obligations. Luke Ortner, IRS senior counsel, spoke about the possible effects of rescheduling marijuana from schedule 1 to 3 under the Controlled Substances Act (CSA) in a recent discussion at the American Institute of Certified Public Accountants (AICPA) marijuana conference in Denver. The change, if enacted, would…

TuesdayOct 01, 2024 4:20 pm

420 with CNW — Delaware, Ohio Temporarily Ban Adult-Use Marijuana Businesses

Delaware, Ohio, has put a temporary pause on recreational cannabis businesses operating within its city limits; the city council voted 5 to 2 to enforce a six-month moratorium. This decision halts recreational marijuana businesses from opening in the city, giving officials time to consider how to best regulate them. The move follows the approval of Ohio’s Issue 2, which legalized recreational marijuana in November 2023. The ban applies strictly to businesses and does not affect residents using cannabis in their homes. Although the council has the authority to lift the moratorium before the six-month deadline, opinions on the matter varied.…

MondaySep 30, 2024 4:20 pm

420 with CNW — AMA Study Finds Working Memory, Other Brain Processes Unaffected by Cannabis Use

A recent federally funded study published in the “Journal of the American Medical Association (JAMA) Network Open” has revealed that cognitive functions such as inhibitory control, reward response and working memory do not change significantly after a year of cannabis use. The study refutes the long-held notion that marijuana use impairs memory and brain function. It involved adults who typically used cannabis for issues such as depression, anxiety, pain or sleep problems. The research team conducted the study on 57 patients who had recently received medical cannabis certification in the Boston area. Brain activity was monitored using functional magnetic resonance…

FridaySep 27, 2024 4:20 pm

420 with CNW — FIVE Ways to Keep Finances Healthy in Marijuana Industry

Marijuana leaders need to use sound financial techniques when operating in the cannabis sector. Given the complexities of the space, companies must devise strategies such as establishing relationships with field experts and looking for fresh revenue streams to differentiate themselves and remain competitive. Here are five crucial financial pointers for marijuana company owners: Focus on increasing cash flow Maintaining a healthy cash flow is essential for any marijuana company. This entails keeping a careful eye on earnings and outlays in addition to monitoring key performance indicators such as yield per square foot for growers or average sales per customer for…

ThursdaySep 26, 2024 4:20 pm

420 with CNW — Washington State Marijuana Industry Readies for Change as Feds Mull Reclassification

Cannabis industry leaders in Washington State are contemplating the implications of reclassification for researchers and local customers. President Joe Biden disclosed in May that the U.S. Department of Justice (DoJ) was considering a substantial change to the classification of cannabis. The U.S. Drug Enforcement Administration (DEA) currently classifies marijuana as a schedule I substance, classing it with methamphetamine and heroin. This classification suggests that there is little to no medicinal benefit to marijuana. The Biden administration’s proposal suggests moving marijuana to a less severe schedule 3 status, indicating a lower potential for abuse or addiction. Dr. Susan Ferguson, director of…

WednesdaySep 25, 2024 4:20 pm

420 with CNW — Study Shows Users of Medical Cannabis Report Short-Term Benefits in Quality of Life

A recent study involving hundreds of individuals using medical cannabis has shown significant and rapid improvements in overall health during the first three months of use, according to research from the Philadelphia College of Osteopathic Medicine (PCOM). The findings, published in the “Cannabis Research Journal,” followed almost 400 adults in Pennsylvania who were new to medical marijuana treatments. The participants, who were 46 years of age on average, used medical cannabis to address more than 20 health conditions recognized under Pennsylvania’s qualifying medical cannabis program. The most common conditions treated were severe chronic pain and anxiety disorders. The research revealed…

TuesdaySep 24, 2024 4:20 pm

420 with CNW — Michigan Cannabis Sales Boom as Recreational Sales Begin in Ohio

Last month, Ohio kicked off its recreational cannabis sales, raising questions about how this would impact Michigan’s already thriving industry, which attracts many Ohio customers. Michigan had become a popular destination for Ohio residents seeking cannabis, with many dispensaries conveniently located near the state border in cities such as Morenci and Monroe. Ohio’s dispensaries sold close to $55 million worth of product in the first month of the state’s legal cannabis sales, which got underway in August. Despite this, the Michigan Marijuana Regulatory Agency has released new data indicating that the state’s dispensaries have not suffered. In actuality, sales kept…

MondaySep 23, 2024 4:20 pm

420 with CNW — Nebraska Certifies Ballot Measures to Legalize Medical Cannabis

Efforts to legalize medical cannabis in Nebraska have officially been approved for the November election, despite a lawsuit and a statewide review of the validity of collected signatures. Bob Evnen, the secretary of state, announced on Sept. 14, 2024, that the group Nebraskans for Medical Marijuana had gathered an estimated 90,000 legitimate signatures. The announcement was made precisely one year from receiving the signature initiative’s third effort in 2023, which coincided with the finalization of the November 5 ballot. Evnen mentioned that the procedure for gathering signatures had sparked questions, which the office of Attorney General Mike Hilgers was looking…

FridaySep 20, 2024 4:20 pm

420 with CNW — Nebraska Lawsuit Aims to Void State’s Medical Cannabis Ballot Measures

A former Nebraska senator and past member of the Nebraska Health Board has filed a lawsuit aimed at stopping two state medical marijuana ballot petitions. John Kuehn, a rancher and veterinarian from Heartwell, is challenging the placement of these measures on the Nov. 5 , 2024, ballot. Kuehn has listed seven key reasons for his challenge, including claims of procedural violations and constitutional issues under federal and state laws. Kuehn’s legal team, led by attorneys Cameron E. Guenzel, Steven E. Guenzel and Andrew La Grone (another former state senator), filed the case in Lancaster County District Court. The lawsuit seeks…