Author: RKS

It looks that the cannabis industry may have won a huge victory thanks to language that was approved in a California state budget trailer bill that was unveiled this week. Cannabis tax concerns have been the subject of intense debate for months. According to a study of the legislation by Los Angeles-based principal at Ananda Strategy Hirsh Jain, the trailer bill would keep the existing 15% excise tax in place for three years while eliminating the state's tax on marijuana cultivation. Contrary …

Advocates for marijuana legalization have had varying degrees of success this year in state legislatures across the US. In Rhode Island, Mississippi, and Maryland, they have succeeded in securing favorable legislation, paving the way for the combined sales of recreational and medical cannabis businesses in those states to reach hundreds of millions of dollars. However, at the same time, proponents of the sector have lost in a number of states, including Kansas, North Carolina, and South Carolina. These defeats highlight the difficulties faced …

Rémy Cointreau, a French orange liqueur maker, claimed that Canopy Growth's line of "Quatreau" beverages violated the Cointreau trademark. The two parties reached a settlement of their trademark dispute. The 2021 lawsuit was brought up by the similarity between the brand names of Cointreau (pronounced "KWAN-tro") and Canopy's CBD beverage (pronounced "KWA-tro"). The settlement's specifics were kept confidential. CBD-infused In the US and Canada, Quatreau drinks contain CBD made from hemp, while THC is used instead. As water and sodas are "a logical extension …

According to a new bill proposed by the U.S. House Appropriations Committee, marijuana businesses may soon be able to air television commercials without worrying about federal interference. The 2023 Financial Services and General Government Appropriations Bill recently received a preliminary approval from a House committee, according to MediaPost. This massive spending bill includes provisions that would shield broadcasters from the Federal Communications Commission (FCC) in states that have legalized marijuana. Because marijuana is still a Schedule 1 restricted substance, the FCC has …

No longer will a prescription from a physician be required for anybody in the nation's capital to purchase cannabis from one of the city's seven medical marijuana clinics. The DC City Council, according to the Washington Examiner, enacted an emergency law on Tuesday that eliminated the requirement that patients 65 and under purchase MMJ, thereby allowing anyone who thinks cannabis can benefit them with any disease to access the legal MMJ market. The amendment, which follows a similar rule passed earlier this …

The nation's cannabis sector appears to be in worse financial shape than when the previous dip occurred two years ago, at the beginning of the COVID-19 pandemic, with the possibility of a recession looming over the U.S. economy. Cannabis businesses fared reasonably well during the 2020 coronavirus-induced recession, with sales surging as a result of federal stimulus payments and stressed-out consumers resorting to cannabis for stress relief. The recession had little impact on the sector. It could be different this time. Executives in the …

A long-desired move by a sector keen to better capitalize on the state's thriving tourism business has finally been made by Nevada officials, who have completed regulations that allow an estimated 60–65 marijuana consumption lounges access to the state's cannabis market.According to a Cannabis Compliance Board news release shared on social media, the first marijuana consumption lounges are predicted to open before the end of the year. A year after lawmakers enacted a measure allowing the lounges and following 15 public …

The cannabis company Tilray Brands, which has its New York headquarters, announced that it will pay for workers who work in the United States but must travel out of the country for reproductive health care to cover their travel and lodging costs as well as give them paid time off. After the famous Roe v. Wade legal decision was overruled by the U.S. Supreme Court, allowing states to outlaw abortions, the cannabis and alcohol manufacturer announced its decision.The first significant permitted …

The appointment of a chief equity officer by New York regulators is a critical step in the state's plan to develop a diverse, multibillion-dollar recreational marijuana industry. Damian Fagon, a third-generation farmer, was appointed to the Cannabis Control Board on Monday, following another significant equity step last week.Gov. Kathy Hochul appointed a 20-member advisory board to help develop a social and economic equity plan, as well as a minority-led investment team to manage a $200 million social equity fund. The state Cannabis …

The legalization of cannabis and COVID lockdowns appear to have increased its regular use, the United Nations Office on Drugs and Crime report finds. Places that have legalized cannabis appear to have increased its regular use, while COVID lockdowns had a similar effect, raising the risk of depression and suicide, a UN report said on Monday. Cannabis has long been the world's most widely used drug. Use is increasing along with potency in terms of tetrahydrocannabinol (THC) content, the United Nations Office on Drugs and Crime …

06/25/2022 04:30 AM EDT Senate Majority Leader Chuck Schumer doesn’t have the votes to pass a sweeping marijuana decriminalization bill — despite repeatedly touting his support for ending federal prohibition. That realization is leading Senate Democrats to look for a compromise on weed. In interviews with more than a dozen lawmakers, staffers, advocates and lobbyists, all agreed that in recent weeks the tone has changed on Capitol Hill. Senators previously opposed to anything but a major marijuana decriminalization bill are slowly warming to another option: …