420 with CNW Archives - Page 65 of 307

FridaySep 15, 2023 4:20 pm

420 with CNW — Israel, Australia Ranked as Top Importers of Canadian Medical Marijuana

New data from Health Canada has revealed that Australia and Israel were the top buyers of Canada’s medical marijuana exports in 2022. Figures shared through MJBizDaily show that the two nations were the largest markets for Canadian medical cannabis importers amid a surge in cannabis exports from Canada. Medical cannabis flower exports from the North American nation totaled around 132,200 pounds for fiscal year April 2022 through March 2023 and went up by 48% from the previous fiscal year’s roughly 90,000 pounds. Close to 80% of medical marijuana flower exports from Canada (104,000 pounds) went to Australia and Israel and…

FridaySep 15, 2023 4:20 am

420 with CNW — Data Shows Border Sales Boosting Retailers’ Earnings in US

Marijuana sales crossing state lines have proven to be a lucrative source of revenue for retailers in the United States, and recent data suggests that a similar trend is emerging along international borders, particularly with Mexico. Insights gathered from various sources, including LeafLink, quarterly reports, state agencies and interviews with marijuana companies, support this observation. LeafLink’s analysis of numerous ZIP codes found that when new recreational marijuana markets open, retailers near state borders tend to increase their inventory orders significantly compared to those located further inland. Over the past three years, wholesale cannabis product purchases by border stores surged by…

ThursdaySep 14, 2023 4:20 pm

420 with CNW — Maryland Sells Record-Setting $92M Cannabis During Second Month of Recreational Marijuana Sales

Maryland’s marijuana market achieved another milestone last month, with retailers notching almost $92 million in sales, marking the state's second month of recreational cannabis sales. This surge represents a significant leap from July's $87 million, illustrating the transformative impact of expanding cannabis access beyond the medical sector, more than doubling prior sales figures. Data recently released by the state’s cannabis regulator, MCA, indicates that legal dispensaries tallied sales exceeding $91.7 million. Smokeable flower sales were in the lead at $55.1 million, followed by concentrates at $24.7 million, while infused edibles and nonedibles contributed $6.2 million and $5.2 million, respectively. Trim…

ThursdaySep 14, 2023 4:20 am

420 with CNW — Key Senate Committee Chair Promises to Advance Cannabis Banking Bill

The chairman of a key Senate committee has revealed that he discussed the possibility of advancing bipartisan cannabis banking legislation within the next six weeks with Senate Majority Leader Chuck Schumer. During a recent interview with Punchbowl News, Senate Banking Committee chair Sherrod Brown said that he talked to Schumer about moving the Secure and Fair Enforcement (SAFE) Banking Act alongside several other major bills within the next one and a half months. Cannabis banking has been a contentious issue since states began legalizing medical and recreational cannabis in the United States nearly two decades ago. Although dozens of states…

WednesdaySep 13, 2023 4:20 pm

420 with CNW — NORML Says Rescheduling Cannabis Not Enough

Almost a year after the President Biden administration initiated the process urging the Department of Health and Human Services (HSS) to swiftly evaluate the federal scheduling of marijuana, HHS Secretary Xavier Becerra has affirmed the agency's recommendation to reclassify cannabis from a Schedule I drug to a lower classification. Although the specific details of the HHS recommendation remain undisclosed, recent Bloomberg News reports indicate that the department advocates moving cannabis to Schedule III within the federal Controlled Substances Act (CSA). This proposed alteration has garnered praise from certain quarters, particularly within the commercial marijuana industry, as a significant stride forward.…

WednesdaySep 13, 2023 4:20 am

420 with CNW — New Poll Suggests Most Ohio Voters Favor Legalizing Marijuana

Results from a recently released poll show that most of the voters in Ohio are in favor of a recreational cannabis legalization measure that is set to appear on ballots in November. The poll, which was conducted by Fallon Research, determined that 59% of voters in the state supported the measure to legalize marijuana for individuals 21 years of age and above. Of this number, 68% were Democrats while 62% were independent voters. The measure qualified for the ballot in August and has garnered support from individuals of different age groups, with the poll finding that more than 65% of…

TuesdaySep 12, 2023 4:20 pm

420 with CNW — Spokesperson Says Biden Supports Medical Marijuana as Cannabis Scheduling Review Progresses

President Joe Biden's stance on the medical use of marijuana has been unequivocal, as affirmed by the White House amid an ongoing federal review of cannabis scheduling. In a recent press briefing, Karine Jean-Pierre, White House press secretary, addressed inquiries regarding the potential ramifications of reclassifying marijuana from Schedule I to Schedule III under the Controlled Substances Act (CSA). The U.S. Department of Health and Human Services (HHS) recently recommended this reclassification to the U.S. Drug Enforcement Administration (DEA). Jean-Pierre, exercising caution, refrained from preempting the process. She emphasized, “I don't want to anticipate events; I've encountered this query previously.”…

TuesdaySep 12, 2023 4:20 am

420 with CNW — Maryland Unveils Online Portal Allowing Cannabis Social-Equity Applicants to Verify Eligibility

The state of Maryland has unveiled a new online portal that will allow marijuana social-equity applicants to verify their eligibility for social-equity licenses before they can officially submit applications later in the year. According to a recent statement from the Maryland Cannabis Administration (MCA), the state's Social-Equity Verification Portal will be open to the public beginning Sept. 8, 2023. Maryland Cannabis Administration Acting Director Will Tilburg said the goal of the verification tool is to provide people interested in social-equity status with a means of determining their eligibility before regulators officially open the application period. Like most states with legal…

MondaySep 11, 2023 4:20 pm

420 with CNW — Study Finds 90% of Illicit Marijuana Products Tainted with Pesticides

A recent investigation has revealed a significant disparity in safety standards between marijuana cultivated for Canada's legal market and that intended for the illicit market. A staggering 92% of unregulated marijuana samples were found to contain various pesticides, while this figure plummeted to a mere 6% for regulated products. The findings, published recently in the “Cannabis Research” Journal, involved scrutinizing 36 cannabis samples procured from licensed dispensaries and 24 illicit samples confiscated by regulatory agencies. The objective was to ascertain whether the products had been cultivated or had come into contact with any of the 327 diverse pesticides on record.…

MondaySep 11, 2023 4:20 am

420 with CNW — Shifting Cannabis to Schedule III May Have Major Ramifications

The U.S. Health and Human Services Department recently recommended that the federal government reclassify marijuana as a Schedule III drug. Drugs under this classification are said to have a low-moderate potential for addiction and/or abuse. These drugs can also be acquired through prescription, even though they aren’t generally available over the counter. They include ketamine, products with less than 90 mg of codeine and anabolic steroids. If the U.S. government heeds this call, there may be significant implications for a range of marijuana-related issues. For instance, marijuana businesses could claim deductions on their federal tax obligations because they wouldn’t be…