Cannabis Stocks Archives - Page 11 of 16

MondayJul 22, 2024 10:00 am

Did Congress Inadvertently Legalize Marijuana in 2018?

Congress federally legalized hemp when it approved the 2018 Farm Bill, making the use of hemp as well as its production legal. Legislators who supported the legalization of this industrial crop expected that it would be used for textiles and nonintoxicating supplements such as shelled hemp seeds and CBD oil. What they didn’t realize, however, was that with some tweaking, hemp could also induce highs when consumed. Currently, individuals in different parts of the country can get high on THC derived from hemp without breaking the law. These hemp-based intoxicants are every bit as strong as compounds derived from cannabis…

FridayJul 19, 2024 10:00 am

Delaware Starts Prepping for Adult-Use Cannabis Market Launch

Last month, legislators in Delaware approved a measure that would allow medical cannabis licensees in the state to apply for conversion licenses to cultivate and sell recreational marijuana. Governor John Carney is expected to sign the measure in the coming weeks. The recently approved measure was sponsored by Representative Ed Osienski, who revealed that cultivation was the most difficult pathway to use to enter the marijuana industry. This, Osienski explained, was because of the larger investments needed to cover the needed infrastructure, such as ventilation and lighting as well as the need for more time for cultivation. This was why…

WednesdayJul 17, 2024 10:00 am

Key Senate Committee OKs Bill Allowing VA Doctors to Recommend Medical Cannabis

The Senate Appropriations Committee has passed a spending measure with an amendment that would allow physicians in the Department of Veterans Affairs to talk about and recommend medical cannabis to patients in states where the drug is legal. This committee approved the marijuana amendment introduced by Senator Jeff Merkley in a voice vote last week. The bill itself provides funding for Military Construction, Veterans Affairs and Related Agencies for the coming fiscal year. During discussions, Merkley stated to the panel that the only healthcare system in the United States where a physician couldn’t discuss medical cannabis with patients in legal…

MondayJul 15, 2024 10:00 am

Red Tape Continues to Hamper Marijuana Legalization Program in Germany

Earlier in the year, Germany became the first large nation in the European Union to legalize the personal recreational use of marijuana. In concrete terms, individuals aged 18 years and older are allowed to be in possession of no more than 25 grams of marijuana for consumption. Under the new law, enthusiasts can also grow three plants in their homes and store no more than 50 grams of dried marijuana in their homes. However, they aren’t allowed to smoke the drug in public. While this is a huge milestone, activists note that red tape has hindered the program from fully…

WednesdayJul 10, 2024 10:00 am

Social Workers Urge Biden to Decriminalize Rather Than Just Reclassify Marijuana

Social workers are pushing for President Joe Biden to fully eliminate marijuana from the Controlled Substances Act (CSA), arguing that there is a need for the drug’s decriminalization. This comes even after the White House proposed that the drug be downgraded to Schedule 3 from Schedule 1. In a letter penned to Biden, 148 social workers explained that cannabis criminalization had torn apart families, mainly affecting communities of color. They called attention to the fact that their profession allowed them to witness the serious harm that cannabis criminalization had caused, adding that cannabis remaining under the CSA would ensure suffering…

MondayJul 08, 2024 10:00 am

Advocates Say GOP Using Marijuana Odor as Excuse to Preach Prohibition

In the last couple of years, we have seen the District of Columbia and 24 other states legalize the recreational use of marijuana. Fourteen other states have also approved the drug for medical use. Of the total number of states that have legalized recreational use, New York is the only state that doesn’t penalize the drug’s use in public. Now, some GOP legislators claim that the public consumption of cannabis is a nuisance to individuals who don’t like the smell. Advocates of cannabis legalization argue that legislators are overstating the scale of the issue and using the smell as a…

FridayJul 05, 2024 10:00 am

US Transportation Secretary Says Marijuana Reclassification Won’t Change Trucker Drug Testing

Secretary of Transportation Pete Buttigieg recently announced that cannabis’ reclassification wouldn’t impact drug testing policies for truckers. While speaking at a congressional hearing this past week, he explained that this was primarily because the U.S. Transportation Department listed cannabis as a substance to screen for. Buttigieg had been responding to a question tabled during a hearing of the House Committee on Transportation and Infrastructure asked by Representative Rick Crawford. Crawford had brought up concerns about the extensive public safety and health consequences of cannabis rescheduling on the country’s highway system and those who used it, such as members of the…

WednesdayJul 03, 2024 10:00 am

IRS Tells Cannabis Firms That 280E Tax Deductions Are Unavailable Till CSA Reclassification Complete

In a recent press release, the Internal Revenue Service advised that cannabis companies refrain from taking federal tax deductions for business expenses. While these deductions are provided for other businesses under section 280E, cannabis businesses aren’t allowed to mainly because the drug is still a controlled substance. Section 280E doesn’t allow credits or deductions for any amount incurred or paid in conducting any business or trade that includes trafficking a Schedule 1 or 2 substance. This applies to businesses that sell cannabis, even if they operate in legal states. Currently, cannabis is classified as a Schedule 1 substance under the…

MondayJul 01, 2024 10:00 am

DEA’s Rescheduling of Marijuana Could Be Delayed Beyond November Polls

Some experts believe that legislators that opposing the reclassification of marijuana under Schedule 3 may call for public hearings that will delay the U.S. Drug Enforcement Administration’s (DEA) final rule past the election. Some claim that this is the goal — to prevent President Joe Biden from boosting his appeal to younger voters. The 60-day public comment period on marijuana rescheduling, which shall inform the DEA’s decision, is set to lapse on July 20, 2024. Thirty days after this period ends, the DEA is expected to decide on whether to move marijuana from its Schedule I classification. The decision will…

FridayJun 28, 2024 10:05 am

Florida Campaign Raises Highest-Ever Funding for Marijuana Legalization Voter Initiative

The state of Florida is trying once again to legalize the recreational use of cannabis via a ballot proposal. If the ballot measure acquires the 60% majority needed to approve a ballot initiative, the state would join 16 other states that have legalized adult-use marijuana by the ballot. The committee behind this latest push, Smart & Safe Florida, revealed that it had broken fundraising records. The initiative in question is the most funded proposal of this year, with the entity raising more than any other cannabis-related ballot initiative committee. In just one election cycle and with the election itself only…