NewsRoom Articles - Page 4 of 541

FridayApr 05, 2024 4:20 pm

420 with CNW — US Marijuana Sales Expected to Be in Excess of $31B in 2024

The United States anticipates surpassing $31 billion in regulated cannabis sales this year, according to recent projections from Whitney Economics, a hemp and cannabis consulting company based in Portland, Oregon. The estimate suggests that recreational and medical cannabis legal sales will reach approximately $31.4 billion this year, marking a $2.6 billion rise from the previous year, equating to a 9.14% yearly growth rate. The forecast highlights challenges faced by the industry, including alterations in consumer spending ability, elevated interest rates and postponed enactment of regulations in new state markets post-COVID-19 pandemic. Despite these hurdles, the overall growth of the marijuana…

FridayApr 05, 2024 10:00 am

Germany Becomes Largest EU Country to Legalize Adult-Use Cannabis

Earlier this week, cannabis campaigners in Germany celebrated as the country legalized the recreational use of the drug and its possession in small amounts. The decision, which comes amid objections from law enforcement officers and doctors, makes Germany the third nation in the European Union to legalize marijuana for personal use after Luxembourg and Malta. The law was approved by the current coalition of the probusiness Free Democrats, the Greens, and Chancellor Olaf Scholz’ Social Democrats. This is despite opposition from the Christian Democrats and some federal states in the country. Friedrich Merz, leader of the center-right Christian Democrats, vowed…

ThursdayApr 04, 2024 4:20 pm

420 with CNW — Partial Legalization of Cannabis in Germany to Take Effect in April

The German parliament has given the green light to partially legalize marijuana for recreational personal use, ushering in some of Europe’s most lenient cannabis regulations. The substance was made legal for recreational use in Malta and Luxembourg in 2023 and 2021, respectively. The Netherlands, on the other hand, which is renowned for having lax marijuana laws, has started toughening up on sales to visitors and nonresidents. The German approval came following a landmark vote in the Upper House, or Bundesrat, where legislators endorsed the measure. Once the new regulations take effect on April 1, 2024, individuals will be allowed to…

WednesdayApr 03, 2024 4:20 pm

420 with CNW — California Bill Seeks to Curtail Cannabis Employment Protections for Safety-Sensitive Jobs

A recent bill in California that was originally intended to amend the state’s current rules protecting workers from discrimination based on their use of legal cannabis has undergone substantial changes to rescind the protections for several workers, including those in animal control, law enforcement and coroners’ offices. The initial measures passed in 2022 and 2023 limited the use of punitive measures against workers for marijuana use while they were off duty and prohibited companies from asking applicants about their prior cannabis usage. However, SB 1264, under Senator Shannon Grove’s sponsorship, seeks to carve out exceptions for certain job roles. These…

WednesdayApr 03, 2024 10:00 am

Congressional Lawmakers Urge AG to End Current Legal Limbo, Issue ‘Overdue’ Cannabis Guidance

Congressional legislators recently forwarded a letter to the attorney general (AG), urging him to issue guidance on federal cannabis enforcement in an effort to stave off interference in state marijuana programs. The letter, penned by Congressional Cannabis Caucus cochairs Representatives Barbara Lee and Earl Blumenauer, stated that the department of justice needed to correct this oversight and issue a memo clarifying that its resources wouldn’t be used to prosecute parties acting in accordance with tribal or state law. It has been more than five years since former AG Jeff Sessions revoked the previous memos that directed prosecutors to not interfere…

TuesdayApr 02, 2024 4:20 pm

420 with CNW — Schumer Sends Out Petition Urging Public to Express Support for Cannabis Banking Legislation

Chuck Schumer, the Senate Majority Leader, is rallying public support for a bill focused on facilitating banking services for cannabis-related businesses through an online petition. In a recent communication concerning this endeavor, he reaffirmed his stance in favor of a comprehensive federal legalization of marijuana. In the wake of continuing congressional discussions on budgetary appropriations, the SAFER Banking Act has come back into focus. Schumer, in an email communication, highlighted the challenges faced by state-licensed marijuana businesses in accessing banking facilities nationwide. Schumer paints a picture of the predicament faced by these businesses, unable to access basic financial services such…

TuesdayApr 02, 2024 10:30 am

Building a Prosperous Future, Zoned Properties Inc.’s (ZDPY) Direct-to-Consumer Design in Cannabis Real Estate

Zoned Properties is a leader in cannabis real estate development, with a sophisticated PropTech stack to spearhead a direct-to-consumer real estate model Zoned Properties reported a net profit of $114,523 during the quarter ended September 30, 2023 ZPDY has listed a property for sale at a price of $16 million, non-dilutive capital that will be used to continue to fund growth The cannabis industry is experiencing explosive growth, but its infrastructure often lags behind. Green Zones – compliant locations and properly permitted real estate – are part and parcel to unlocking the industry's full potential. This focus not only fuels…

MondayApr 01, 2024 4:20 pm

420 with CNW — Another Federally Backed Study Finds Recreational Marijuana Legalization Doesn’t Increase Youth Use

A recent study supported by federal funds has found no clear link between the legalization of cannabis for adult use and an increase in its consumption among middle schoolers. To investigate the impact of legal sales on youth usage, researchers conducted a comparative analysis of middle-school usage rates in New Mexico and Nevada, utilizing data from state-conducted surveys in 2017 and 2019. Notably, during this period, Nevada permitted adult-use cannabis sales while New Mexico restricted its use to medical purposes only. Across both states, the study uncovered rises in the percentages of middle schoolers who had experimented with marijuana and…

MondayApr 01, 2024 11:15 am

NECANN Maryland Cannabis Convention & Expo 2024, Baltimore, MD

Entrepreneurs, influencers, advocates, patients, investors, service providers, educators, and consumers of the cannabis spectrum, are all invited to attend the first-ever Cannabis Convention of Maryland that focuses on networking, learning, and discovering new cannabis products and services for the greater Maryland community. NECANN organizes the foremost cannabis events, with a robust platform for cannabis enthusiasts to connect with industry experts and peers, presenting critical knowledge to expand businesses. NECANN has offered growth opportunities to the local communities throughout the northeast and beyond since 2014. It has boosted the cannabis economy by creating a hub of resources and communication available to…

MondayApr 01, 2024 10:00 am

Canadian Law Review Panel Recommends Allowing Cannabis in Pharmacies

A panel reviewing Canadian law on adult-use marijuana has recommended that pharmacy access be enabled for medical cannabis. This comes after Shoppers Drug Mart, the biggest pharmacy chain in the nation, requested that pharmacies be allowed to sell medical marijuana products. By doing so, patient concerns on product shortages and delays in delivery could be addressed. Additionally, enabling this access would allow patients to freely consult with pharmacists on side effects and drug interactions at their own convenience. The Cannabis Act, which legalized recreational marijuana, established a legal framework for producing, distributing, selling and possessing marijuana across Canada. The panel,…