420 with CNW Archives - Page 99 of 312

TuesdayFeb 07, 2023 4:20 am

420 with CNW — USDA Unveils First-Ever Weekly Report to Boost Hemp Market

The U.S. Department of Agriculture (USDA) announced last week that it will launch a weekly newsletter to promote the country’s nascent hemp industry by providing “unbiased, timely and accurate data” on hemp. The agency released the first edition of the National Hemp Report via its Agricultural Marketing Service in tandem with the announcement. In a press release, USDA Under Secretary for Marketing and Regulatory Programs Jenny Lester Moffit stated that the USDA had seen the industry’s need for “timely market information.” She explained that the National Hemp Report would provide hemp industry stakeholders with weekly volume and price information to…

MondayFeb 06, 2023 4:20 pm

420 with CNW — FDA Throws CBD Supplements Rulemaking Duty to Congress

Despite legislative requests from stakeholders, legislators and advocates, the FDA has stated that it will not develop regulations allowing the promotion of CBD as nutritional supplements, leaving the vast industry unregulated. After conducting a "careful study" of the nonintoxicating cannabinoid, the FDA concluded that CBD won't be regulated along the same lines as food supplements. The agency stated that it would instead like to collaborate with Congress to gain a fresh perspective. Meanwhile, the FDA is also rejecting three citizen petitions that asked for rulemaking regarding CBD marketing. Days prior to this announcement, the agency issued finalized guidelines outlining the procedure…

MondayFeb 06, 2023 4:20 am

420 with CNW — Colorado Opens Recreational Center Built Using Cannabis Taxes

Aurora, Colorado, celebrated the official opening of its new 77,000 ft2 recreational facility on Tuesday, which cost close to $42 million. The project was fully financed by tax revenue generated by legal cannabis sales. According to KDVR news, the building is the Southeast Recreation Center and Fieldhouse and offers a variety of amenities. It includes a 23,000-foot fieldhouse with an air-conditioned interior; a complete field with turf of the highest caliber; a multipurpose gym with 8,000 feet that can hold three pickleball courts, two cross basketball courts, two volleyball courts and one main basketball court; a track that is 1/9-mile…

FridayFeb 03, 2023 4:20 pm

420 with CNW — Predictions, Trends for Cannabis Industry This Year

As the first month of 2023 drew to a close amid price compression, chronic oversupply and a possible recession, several marijuana industry professionals offered their predictions on how the industry will perform for the rest of the year. The trends of oversupply and price compression will most likely continue through the year, experts believe, with market oversaturation and oversupply reducing access to capital and causing prices to drop. Arizona Dispensaries Association’s president of the board Lilach Mazor Power stated that players in the cannabis industry would have to make tough business decisions due to oversupply. Businesses will have to find…

FridayFeb 03, 2023 4:20 am

420 with CNW — State Data Shows Massachusetts Adult-Use Cannabis Sales Have Reached $4B

Authorities in Massachusetts have reported that adult-use cannabis sales in the state have officially exceeded $4 billion since legalization in 2018. Cannabis Control Commission data shows that the state's gross marijuana sales stood at $4,000,732,607 as of Jan. 12, 2023. This comes a few months after the state reached the $3 billion milestone, indicating continued industry growth. Currently, Massachusetts has 14 delivery services and 265 retailers. Authorities track and share sales data via the CCC’s Open Data portal. Last year, the state reported$1,483,898,511 worth of cannabis sales. Separate data from that portal indicates that medical cannabis sales, which are currently…

ThursdayFeb 02, 2023 4:20 pm

420 with CNW — New Poll Finds Americans Favor Looser Cannabis Regulation, Tighter Regulation of EVs and Cryptos

A recent poll from Harvard CAPS-Harris has found that Americans favor looser regulations for marijuana and tighter rules for social media, cryptocurrencies, coal and electric vehicles. The survey polled voters on a broad range of national issues and asked them if they thought the government should regulate the issues more or less, or keep current regulations as they are. Results indicate 45% of the survey participants stated that cannabis should be regulated looser than it is now, 22% said that cannabis regulations should stay as they are, and 33% wanted tighter cannabis regulations. Compared to all the other items in…

ThursdayFeb 02, 2023 4:20 am

420 with CNW — Oklahoma Voters to Decide on Cannabis Legalization in March

The past two decades have seen a plethora of states across the country vote on measures to legalize either the medical or recreational use of marijuana. By the end of 2022, dozens of states allowed medical marijuana within their borders while nearly 20 states had legal recreational cannabis markets. These state-level cannabis markets have been extremely lucrative for their home states, generating billions of dollars in cannabis taxes and creating hundreds of thousands of new job opportunities. Voters in Oklahoma may soon be able to see some of this cannabis action after a measure to legalize cannabis was slated to…

WednesdayFeb 01, 2023 4:20 pm

420 with CNW — Why Cannabis Firms Should Look Elsewhere for Financing

Currently, cannabis is legal in 21 states for recreational usage and 39 states for medical use, with total revenues anticipated to exceed $38.8 billion through 2023. The next logical stage in the development of the cannabis market is federal financial regulation for complying enterprises. Theoretically, most other sectors' opportunities for credit cards, deposits and loans should be available to the marijuana business as well. However, there hasn't been a legislative majority or the political desire to make tax and banking reform regarding cannabis business to happen, despite numerous efforts in Congress to do so. Despite numerous attempts, the usual bills…

WednesdayFeb 01, 2023 4:20 am

420 with CNW — FDA Publishes Final Guidance for Cannabis Drug Development

Earlier this week, the FDA published its final guidance on cannabis drug development in the federal register. This comes after it released a draft version in 2020. The guidance outlines the basic clinical study standards, considerations for researchers and the drug development process. The legalization of hemp in the 2018 Farm Bill is one major reason for the guidance’s release because it made the drug development process for hemp different from marijuana, which is still classified as a Schedule I substance under the Controlled Substances Act. In its statement, the agency said that the guidance outlined its views on topics…

TuesdayJan 31, 2023 4:20 pm

420 with CNW — Study Shows Cannabis Boosts Sex Quality for All Genders

In a recent study, participants reported that cannabis increased their desire, intensified their orgasms, and sharpened their sensory perception, providing evidence that cannabis can improve sex. Moser Amanda, a sexologist residing in Denver who has specialized in integrating cannabis and sex, took part as the paper's lead author. More than 70% of respondents to Moser's online questionnaire, which included more than 811 marijuana-using individuals, reported that smoking marijuana before sex enhanced orgasms and boosted desire, regardless of gender or age. The results showed greater sexual satisfaction and functioning. About 62.5% of users claimed that marijuana increased pleasure during masturbation. According…