NewsRoom Articles - Page 175 of 608

ThursdayAug 04, 2022 4:20 pm

420 with CNW — New Comments Suggest That Cory Booker May Be Warming Up to Marijuana Banking Reforms

Sen. Cory Booker is the lead sponsor of a cannabis legalization measure that was recently filed in the Senate. The measure was cosponsored by Ron Wyden, chair of the Senate Finance Committee, and Senate Majority Leader Chuck Schumer. Booker has, in the past, resisted calls to approve marijuana banking bills, citing that before this is done, comprehensive legalization needs to be enacted. The legalization measure was discussed at the hearing before the Senate Judiciary Subcommittee on Crime, which is chaired by Booker. Toward the end of the meeting, the bipartisan SAFE Baking Act was also discussed, with Booker making comments…

ThursdayAug 04, 2022 4:20 am

420 with CNW — Thai Companies Earn Big from Newly Legalized Marijuana Products

Cannabis is one of the fastest-growing industries in America for good reason. Barely a decade old, the industry has generated billions of dollars in sales revenue, created hundreds of thousands of new employment opportunities and filled state coffers with billions in tax revenue. Other territories and countries are adopting cannabis reform and launching legal markets, and they are starting to cash in on the lucrative cannabis market. Thailand, which recently decriminalized the private cultivation of cannabis and sanctioned the use of cannabis leaves and extracts in foods, drinks and cosmetics, is beginning to rake in profits from the cannabis market.…

WednesdayAug 03, 2022 4:20 pm

420 with CNW — House Approves Cannabis Research Measure, Senate Expected to Follow Suit

Earlier last week, the House passed a bipartisan cannabis research measure that would make it easier to conduct necessary medical research on this plant. The Senate is expected to pass the measure soon, which will make this bill the first standalone marijuana reform proposal to be advanced to the president’s desk. The measure, dubbed the Medical Marijuana and Cannabidiol Research Expansion Act, was considered on the U.S. House of Representatives’ floor under the suspension of rules of parliamentary procedure. This procedure is a motion reserved for noncontroversial initiatives that limits debate in the chamber and allows no amendments. For this…

WednesdayAug 03, 2022 4:20 am

420 with CNW — Senate Approves VA Nominee Who Supported Medical Marijuana in NJ

The U.S. Departments of Veterans Affairs recently confirmed that a key position in the department had been filled after the Senate voted to confirm President Joseph Biden’s nominee: Shereef Elnahal. In the past, Elnahal has served as the state health commissioner in New Jersey. He helped expand the medical cannabis program in the state while also advocating for the federal legalization of cannabis. Elnahal, who has been appointed as the Undersecretary of Health at the VA, will be in charge of leading a central division of the VA that has, up until now, prevented doctors from issuing medical marijuana recommendations…

TuesdayAug 02, 2022 4:20 pm

420 with CNW — Illinois Governor Raves Over Cannabis Taxes While Announcing Social Equity Licensees

Cannabis has proven to be extremely lucrative for states with legal markets. In 2021 alone, states collected more than $3.7 billion in recreational cannabis taxes, a 34% jump from the taxes legal states received the previous year. Illinois, which launched recreational cannabis sales in January 2020, has seen impressive sales in recent months. For FY 2022, the state has recorded around $1.5 billion in cannabis sales compared to $1 billion last year. Illinois collected a total of $445.3 million in taxes from cannabis sales, a nearly 50% increase in revenue compared to the 2021 fiscal year when it collected $297…

TuesdayAug 02, 2022 4:20 am

420 with CNW — Colorado Firm Set to Conduct Marijuana Research for Alzheimer’s Patients

Over the past decade or so, plenty of studies have found marijuana to be effective at treating the symptoms of a variety of medical conditions. However, most of this research is in its infancy, and experts unanimously agree that we need a lot more clinical trials to definitively prove marijuana’s medical potential. In Colorado, MedPharma Research, a leading research company in the medical cannabis field, recently announced that it had been granted funding to research the efficacy of marijuana in Alzheimer’s patients. The company submitted a proposal to the Colorado State University Institute of Cannabis Research’s (ICR) FY23 Cannabis Research…

MondayAug 01, 2022 4:20 pm

420 with CNW — Study Finds CBD May Help Manage Post-surgery Pain

New research has found that CBD can be used to relieve the postop pain patients experience after undergoing rotator cuff surgeries. CBD works like any other anti-inflammatory drug, without inducing any of those side effects that other medications cause such as stomach irritation. The substance t has multiple mechanisms of action, including reducing inflammation contributing to the pain. The research findings were recently presented at the annual meeting of the American Orthopedic Society of Sports Medicine, which was held in Colorado Springs, Colorado. The study was led by sports orthopedic specialist, Dr. Michael J. Alaia, of NYU Langone Health. It…

MondayAug 01, 2022 4:20 am

420 with CNW — Michigan Disburses $20m in Grants for Studies on Cannabis for Veterans

In 2021 alone, states with legal cannabis markets collected more than $3.7 billion in recreational cannabis taxes. Michigan, which legalized adult-use cannabis in 2018, collected almost $175 million from a 10% excise tax on all recreational cannabis sales in the same year. Regulators from the state recently announced that a portion of these funds would be funneled to institutions researching the potential medical benefits of cannabis for veterans. This will be the second round of funding provided by the Michigan Cannabis Regulatory Agency (MRA) as part of the state’s Veteran Marijuana Research (VMR) Grant Program. This time, the agency will…

FridayJul 29, 2022 4:20 pm

420 with CNW — Congressional Legislators to Hold Hearing Focused on Hemp

House Agriculture Subcommittee on Biotechnology, Horticulture and Research members are scheduled to meet this week to discuss expanding hemp regulations in the 2023 farm bill package. Hemp was federally legalized under the 2018 farm bill, which opened up a marijuana market that expanded rapidly. Stakeholders and advocates involved in the industry are now focused on ways to build upon the current hemp regulations through the next large-scale agriculture measure. Representative David Scott, the full committee’s chair, earlier stated that he felt that the farm bill’s next edition needed to extend beyond hemp and include provisions that dealt with cannabis-specific policies,…

FridayJul 29, 2022 4:20 am

420 with CNW — Another Leading Democratic Senator Signs onto Schumer’s Cannabis Bill

After several delays and much anticipation, Senate Majority Leader Chuck Schumer formally filed his long-awaited cannabis legalization bill alongside Senate Finance Committee chair, Senator Ron Wyden, and Senator Cory Booker. This bill will legalize cannabis at the federal level and contains social equity provisions that would attempt to address the harms caused by the war on drugs. Just a day after Schumer filed the Cannabis Administration and Opportunity Act (CAOA), the bill gained two cosponsors, one of them a leading Democratic Senator who praised the legislation but said there was still an urgent need to work on cannabis banking. With…