Cannabis Stocks Archives - Page 5 of 16

ThursdayDec 05, 2024 10:00 am

What Marijuana Reclassification Could Mean for Washington D.C.

In 2022, the Biden Administration initiated efforts to reevaluate how cannabis is classified under federal law, leading the DEA to start a formal rule-making procedure this year. If the agency ultimately agrees with the Health and Human Services (HHS) Department’s recommendation for reclassification, the effects at the state level are likely to be minimal. Without broader federal changes, state programs for medical and recreational marijuana will remain at odds with federal law. Current regulations provide states with little leeway to legalize substances classified under Schedule III. Consequently, the agency is unlikely to issue licenses to state-regulated cannabis businesses, and the…

TuesdayDec 03, 2024 10:00 am

Judge Halts Upcoming Minnesota Marijuana Business License Lottery

Last week, a judge in Ramsey County stopped a lottery that would’ve awarded marijuana licenses in Minnesota. This is a huge setback for regulators in the state, who are prepping for legal sales come 2025. The lottery would’ve awarded preapproval licenses to business owners who met the criteria for social equity applicants, giving them a head start before the normal licensing period began in 2025. However, after the Office of Cannabis Management dismissed over half of applications for not proving proper documentation as required, lawsuits were filed. In their suits, the plaintiffs claimed that they were wrongfully excluded from the…

MondayDec 02, 2024 10:00 am

Trump’s Pick for Health Department to Favor Experimental Treatments Over Prescription Medications

Public health experts have raised concerns that Trump’s pick for the Health and Human Services department may impede access to pharmaceuticals and instead, favor experimental therapies. Robert F. Kennedy Jr, who was selected by the incoming president recently, is an attorney with no background in government public health. He has in the past voiced his distrust for pharmaceutical drugs, going as far as to ‘call out’ the country’s healthcare system for allocating billions to the powders, potions and pills instead of getting individuals to strengthen their immune systems. Kennedy has also criticized the Food and Drug Administration for suppressing psychedelic…

TuesdayNov 26, 2024 10:00 am

Texas AG Goes to Court to Block Marijuana Decriminalization in Dallas

Attorney General Ken Paxton of the state of Texas is suing Dallas over its proposal that decriminalizes cannabis in the city. The suit names the defendants as the city council of Dallas; Kimberly Bizor Tolbert, the city’s interim manager; Mayor Eric Johnson; and Michael T. Igo, the city’s interim Chief of Police. The charter amendment in question, Proposition R, was approved by 67% of voters in the city during elections. It was placed on the ballot by Ground Game Texas, a group focused on advancing social justice while strengthening democracy. Despite the favorable win, Paxton argued in a press release…

FridayNov 22, 2024 10:00 am

Maryland Starts Using Dashboard for Tracking Marijuana Use

The Department of Health in the state of Maryland recently rolled out a tool to track the effects of marijuana use on public health. The tool, dubbed the Cannabis Public Health Data Dashboard, offers user-friendly visualizations of marijuana trends prior to and after the legalization of recreational marijuana. It also provides data on the use of the drug by youth as well as adults, visits to the ER, the utilization of substance use services, and calls made to the D.C. and Maryland poison centers. Data obtained from the dashboard shows that a 44% increase in ER visits related to the…

ThursdayNov 21, 2024 10:00 am

Cannabis Stakeholders Walk Tight Rope by Seeking to Contribute to Rescheduling Hearing

Business leaders and marijuana advocates were recently invited to take part in a hearing about cannabis rescheduling set for next month. The participants, all twenty-five of them, were listed in a letter penned by Chief Administrative Law Judge John Mulrooney II of the Drug Enforcement Administration. The witnesses were selected by DEA Administrator Anne Milgram. During the hearing, the participants will be required to explain why maintaining the drug’s current schedule is unjustified. The legal threshold also requires that witnesses explain how they will be impacted negatively by cannabis’ rescheduling to Schedule III of the Controlled Substances Act. This means…

FridayNov 15, 2024 10:00 am

Appeals Court in Missouri Declares That Marijuana Tax Stacking is Unconstitutional

Earlier this week, the Missouri Court of Appeals, Eastern District, ruled that the stacking of cannabis sales taxes was unconstitutional. The state legalized adult-use sales in 2022 when 53.1% of voters in the state approved Amendment 3, a ballot initiative that sought to legalize adult-use marijuana. The initiative also legalized the possession, purchase, consumption, manufacture, delivery and sale of cannabis for individuals aged 21 and above. This is in addition to allowing persons with specific offenses related to cannabis to petition for release from prison or probation and parole and have their records expunged. This approval saw the state issue…

ThursdayNov 14, 2024 4:20 pm

420 with CNW — Researcher Files Lawsuit to Block Marijuana Rescheduling Hearing

David Heldreth, CEO and founder of Panacea Plant Sciences, has filed a federal court lawsuit, claiming the DEA breached several legal protocols in preparing for a hearing on the Biden administration’s proposal to reclassify marijuana. The suit urges the court to issue an injunction halting the DEA’s scheduled hearing until these legal concerns are addressed. Heldreth’s complaint argues that the DEA has not complied with important legal requirements related to administrative procedures and federal consultation obligations. At the core of his argument is the agency’s decision to hold a hearing on moving marijuana from Schedule 1 to 3 of the…

ThursdayNov 14, 2024 10:00 am

Missouri’s Booming Marijuana Industry Eclipses Other State Markets

The recreational marijuana market in the state of Missouri has already hit $1.4 billion, less than 2 years since its launch. Voters in the state approved Amendment 3, a ballot initiative that legalized recreational marijuana in November 2022. Medical dispensaries were then given the go ahead to expand into recreational sales in February 2023. The market’s current valuation is higher than states that’ve legalized the drug for longer periods, like Nevada, Colorado and Arizona. During a recent conference, LKP Impact Consulting CEO Laurie Parfitt discussed the state’s burgeoning recreational market. The conference, held in St. Louis, brought together over 1000…

TuesdayNov 12, 2024 4:20 pm

420 with CNW — German Marijuana Club Hands Out Legal Cannabis as Pilot Program Kicks Off

Germany recently saw its first cannabis social club—Social Club Ganderkesee—announce the distribution of cannabis to its members, marking a new milestone in the country’s journey toward regulated marijuana access. The nation legalized the possession and personal cultivation of marijuana for adults in April. However, until recently, there were limited legal means for acquiring the substance. Social Club Ganderkesee started growing cannabis in July after receiving a permit from Lower Saxony’s Agriculture Minister, Miriam Staudte. According to Daniel Keune, the club’s chairman, the membership represents a broad demographic, ranging from 18 to 70 years old. Each social club is restricted to…