420 with CNW Archives - Page 70 of 297

TuesdayMay 23, 2023 4:20 pm

420 with CNW — Study Says Tobacco Use is Declining in States with Legal Marijuana Markets

A recent study has found that state-level marijuana policies are largely linked to modest, sporadic, longer-term declines in tobacco use among adults. The implementation of state recreational cannabis laws (RMLs) did, according to the research, result in a small increase in adult marijuana usage of between 2% to 4%, depending on the source of data. However, tobacco use did not follow this pattern. The results were published last month in the “Journal of Health Economics” by researchers from Bentley, Georgia State and San Diego State universities. They noted the study was the first to thoroughly investigate how legalizing marijuana for…

TuesdayMay 23, 2023 4:20 am

420 with CNW — Minnesota Legislators Build Consensus During Cannabis Legalization Committee Conference

During their first committee meeting last week, bicameral and bipartisan legislators ironed out some differences they had on cannabis legalization measures that were approved in both chambers in April. The members adopted some amendments on temporary regulations for hemp-derived CBD products and how the measures defined marijuana. Senate bill SF 73 was sponsored by Senator Lindsey Port while the House version, HF 100, was sponsored by Representative Zack Stephenson. Stephenson stated that he and Port were focused on finishing the job, noting that Minnesota’s current drug laws were doing more harm than good. The bills were identical in the beginning…

MondayMay 22, 2023 4:20 pm

420 with CNW — Montana Legislators Send Cannabis Reform Measures to Governor

The Montana legislature passed several measures in the final hours of this year’s legislative session that, if Governor Greg Gianforte signs into law, will significantly impact the state's recreational marijuana market. A few new regulations, including one that is more lenient when it comes to edible THC testing and another that extends the moratorium on authorizing new operations until 2025, could benefit the industry. However, some, including a considerable increase in license renewal prices, may make it more difficult for businesses to operate. The legislature also blocked measures that would significantly impact the industry during the session, such as SB…

MondayMay 22, 2023 4:20 am

420 with CNW — Why Marijuana’s $100 Billion Economic Impact Varies by State

The recreational and medical marijuana markets continue to have a positive economic impact on the nation as a whole. However, the effects on individual states vary according to the size, maturity and nature of each market. Compared to certain larger, highly populated states with larger markets, some smaller, less populous states are seeing a stronger overall impact on the economy. Statistics from the just-released MJBizFactbook indicate that the total economic impact of cannabis sales in the United States is predicted to hit $100 billion this year, a rise of more than 12% from 2022. Marijuana sales could inject $17.6 billion…

FridayMay 19, 2023 4:20 pm

420 with CNW — Marijuana Banking Reform Prospects in US Senate Seem More Positive

The SAFE Banking Act, a bipartisan measure that was reintroduced last month, was recently discussed by the Senate Banking Committee. While the legislation has already been approved by the House of Representatives on numerous occasions, the Senate has never voted on the measure. This is despite Majority Leader Chuck Schumer voicing his support for the proposal. It is believed that if the bill were to advance to the president’s desk, he would sign it. The measure’s approval would prohibit federal banking regulators from penalizing financial institutions that provide basic banking services to cannabis businesses in legal states. Its introduction buoyed…

FridayMay 19, 2023 4:20 am

420 with CNW — Groups Urge Leaders to Expedite Passing Cannabis Banking Legislation

All 50 states' banking associations, as well as several financial, union and insurance organizations, are urging the Senate committee to enact a cannabis banking bill as soon as feasible. Several state and national organizations wrote to the Senate Banking Committee's leadership, urging prompt action on the SAFE Banking Act. Among those voicing support for the act are the American Bankers Association (ABA), the Electronic Transactions Association (ETA), the Independent Community Bankers of America (ICBA), a coalition of trade associations representing the insurance industry and the International Brotherhood of Teamsters. Separately, the national ABA wrote to Congressional leadership urging prompt adoption…

ThursdayMay 18, 2023 4:20 pm

420 with CNW — New Hampshire Governor Voices Support for Cannabis Legalization After Senate Rejects Bill

Governor Chris Sununu of New Hampshire recently announced support for a resolution to enact marijuana legalization via a system of stores run by the state. What happens next remains uncertain, as a bill that would have established a state-run market, which had been approved by the House during the previous session, was rejected by the Senate. The Senate defeated the measure in a vote of 14 to 10. However, now that the governor has voiced his support, there may be a renewed push to advance a state-run resolution. In his statement, Governor Sununu stated that public opinion and regional dynamics…

ThursdayMay 18, 2023 4:20 am

420 with CNW — How Governments’ Greed for Taxes Is Frustrating Legal Cannabis Sales

The question of whether individuals should be allowed to use drugs recreationally, particularly marijuana, has long been up for discussion. Advocates claimed that legalizing these drugs would reduce their availability on the black market. Prices would decrease, and gangs and organized crime, which have long benefited from the movement and sale of illicit substances, would decline. However, this has not changed anything. Cannabis still retains the same legal status under federal law. According to the DEA, marijuana is still classified as a Schedule I restricted drug because there is no federally acknowledged medicinal use for it in the United States.…

WednesdayMay 17, 2023 4:20 pm

420 with CNW — How New York Cannabis Companies Are Getting Creative to Lure Customers

The new legal market for marijuana in New York is growing, and with this comes an increase in demand. To help keep up, businesses in the state are finding new ways to turn marijuana into a range of products, including edibles such as chocolates and gummies. Smokiez’ National training manager Maddi Burch stated that edibles had become more popular as they appeal to those who didn’t smoke. The demand for gummies at dispensaries in the state is particularly high, which has led many businesses to boost production. For marijuana to be turned to edibles, it must undergo an extraction process.…

WednesdayMay 17, 2023 4:20 am

420 with CNW — Missouri’s Adult-Use Market Thriving Three Months After Launch

Missouri launched recreational cannabis sales earlier in February, following approval of Amendment 3 in November 2022. This, according to a report by Brightfield Group, is the second fastest turnaround in the United States, only two weeks behind the record set by Arizona. Thus far, Missouri has raked in $350 million in sales for both medical and recreational cannabis, according to data released by the Missouri Department of Health and Senior Services. Last month, the state brought in $91 million in recreational cannabis sales. This is on par with the $93.5 million in revenue generated in March and an increase from…