420 with CNW Archives - Page 45 of 304

TuesdayJan 23, 2024 4:20 pm

420 with CNW — Major Themes Marijuana Investors Can Expect in 2024

Despite a year of major highs and lows in 2023, cannabis investors are hopeful that this year will be better thanks to several major issues that are likely to boost the cannabis industry. Let’s take a look at five themes likely to shape the industry: Rescheduling prospects Last year, U.S. marijuana businesses witnessed substantial gains after the U.S. Department of Health and Human Services (HHS) recommended the rescheduling of cannabis from Schedule I to III of the Controlled Substances Act (CSA). If rescheduling materializes, it could alleviate the burdens imposed by Section 280E of the IRS, allowing marijuana companies to…

TuesdayJan 23, 2024 4:20 am

420 with CNW — Illinois Bags $417M in Cannabis Taxes as 2023 Sales Soar to $1.6B

A report recently released by the Illinois Department of Financial and Professional Regulation shows that in 2023, recreational marijuana sales surpassed $1.6 billion. This figure is its highest amount since the state legalized adult-use marijuana in 2019. The drug’s legalization came after the state’s General Assembly approved the Illinois Cannabis Regulation and Tax Act, which was enacted in 2020. In addition to being the 11th state to legalize adult-use marijuana in the United States, Illinois was the first state to adopt a regulatory system for marijuana testing, cultivation and sales via a state legislature. The state of Illinois is also…

MondayJan 22, 2024 4:20 pm

420 with CNW — Feds Finally Publish Documents Revealing HHS Cannabis Rescheduling Recommendation

The federal government has released documents confirming that the U.S. Health and Human Services has recommended that the DEA categorize marijuana under Schedule III. Currently, the Controlled Substances Act classifies marijuana as a Schedule I substance, which means it has a high potential for abuse and has no accepted medical use. Health officials explained that marijuana had a lower potential for abuse in comparison to other substances under Schedule I or II and was already accepted for medical use in America. In their review, the health officials stated that more than 30,000 healthcare professionals across various jurisdictions in the U.S.…

MondayJan 22, 2024 4:20 am

420 with CNW — 2023 Data Shows Enrollment in Florida’s Medical Cannabis Program Kept Growing

A recent annual report has shown that the number of persons registered for the medical cannabis program in Florida experienced a gradual increase throughout the fiscal year 2023. However, the pace of growth showed a slight deceleration compared to earlier periods, attributed to the system’s maturation and increased focus on potential recreational cannabis legalization. According to the report, patient enrollment saw a 15% increase in the fiscal year 2022–2023 compared to 2021–2022. The concluded fiscal year witnessed a decrease in daily doses, primarily influenced by Florida’s emergency rule, which imposed limits on daily dosing. Additionally, the report highlighted a consistent…

FridayJan 19, 2024 4:20 pm

420 with CNW — Thailand Passes Draft Law Reversing Recreational Cannabis Legalization

Thailand’s recent political shift has set the stage for the introduction of fresh marijuana legislation, marking a major turnaround only 18 months after the nation took steps toward decriminalizing the substance. The initial lenient regulations sparked a flourishing marijuana industry, serving both locals and tourists across southeast Asia. However, the conservative coalition government, which assumed power late last year, has pledged to enforce stricter rules, restricting marijuana usage solely to medical purposes. Last week, the nation’s health ministry unveiled a draft measure outlining severe penalties, including high fines and potential one-year prison sentences for violators. The proposed legislation expressly limits…

FridayJan 19, 2024 4:20 am

420 with CNW — Data Shows Recreational Cannabis Sales Exhibited Mixed Results for Growth in 2023

Last year saw many regulated recreational cannabis markets record significant growth in their sales. While established markets such as Colorado recorded slight declines in sales, states such as Maine and Arizona saw growth in their markets. Below, we examine adult-use sales using data from regulators in different states. Arizona Recreational sales started strong last year, with monthly recreational cannabis sales peaking in March at $100 million. The state launched its adult-use cannabis market in 2021. Washington State Adult-use cannabis sales in the state have relaxed since the pandemic, with the state selling only $1.14 billion in recreational cannabis through November…

ThursdayJan 18, 2024 4:20 pm

420 with CNW — States with Legal Marijuana Markets See Higher College Applications

New data shows that states that have legalized recreational cannabis recorded a short-term boost in college applications from prospective students. The colleges also received more applications overall. The data was collected in a study, which had its findings recently published in the “Contemporary Economic Policy” journal. The researchers used the Integrated Postsecondary Education Data System to obtain data on various college metrics, including detailed tuition prices prior to and after financial aid applications, school application numbers and demographic characteristics of students. The study determined that applications for colleges in states the year that recreational cannabis was legalized increased by more…

ThursdayJan 18, 2024 4:20 am

420 with CNW — GOP Medical Cannabis Plan in Wisconsin Receives Muted Response

Wisconsin GOP assembly legislators have put forth a proposal aimed at legalizing medical cannabis in the state. The proposal, however, received a tepid response from Governor Tony Evers (D) and senate GOP leaders due to its highly restrictive nature. Unlike the broader legalization efforts advocated by Democrats and Gov. Evers through the years, the proposed bill focuses on allowing medical cannabis use only for severely ill individuals dealing with chronic diseases such as cancer, glaucoma, HIV/AIDS, chronic pain and nausea. However, the bill introduces certain restrictions, such as limiting distribution to only five state-operated locations and prohibiting the use of…

WednesdayJan 17, 2024 4:20 pm

420 with CNW — Study Says Marijuana Won’t Enhance Performance But Will Make Exercising More Fun

A new study has found that smoking marijuana prior to a workout can make exercise more enjoyable and boost a person’s motivation. The study, which involved 42 volunteer runners, released its findings almost a decade after Colorado became the first state in the United States to offer legal sales of recreational cannabis. The investigators took survey data and fitness measurements then assigned each volunteer a dispensary where they could pick a flower strain that contained mostly THC or CBD. Cannabidiol (CBD) and tetrahydrocannabinol (THC) are two of the primary compounds found in marijuana. Unlike TH, CBD doesn’t induce any high.…

WednesdayJan 17, 2024 4:20 am

420 with CNW — Florida GOP Lawmaker Proposes Bill to Restrict THC potency If Voters Approve Recreational Marijuana

With the prospect of a potential November vote in Florida on cannabis legalization, a GOP legislator, Representative Ralph Massullo, has introduced a measure that would establish strict restrictions on THC potency in the event of voter approval. Introduced last week, Massullo’s measure suggests a THC cap significantly lower than the prevailing limits in most cannabis markets. The proposed limitations would become effective 30 days after voters endorse any future constitutional amendment endorsing legalization. The measure proposes a 10% THC limit for smoking-related marijuana products and a 60% limit for other cannabis products, such as extracts. The highest amount of THC…

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