October 2023 - Page 5 of 5 - CannabisNewsWire

ThursdayOct 05, 2023 4:20 pm

420 with CNW — Wholesale Marijuana Prices Rebound in Several States

Wholesale marijuana prices have recently found stability or even experienced slight rebounds in select markets during the summer. However, industry experts are advising cultivators to prepare for a potential renewed downward trend as the fall harvest bolsters inventories through the year's end. Ben Burstein, a strategist at LeafLink, points out that a significant inventory buildup is observed across the industry during this time of the year, particularly around the harvest season, triggering substantial price drops. LeafLink's data gathered from 13 states shows that after several months of consistently hitting record-breaking lows, wholesale cannabis flower prices have stabilized in certain well-established…

ThursdayOct 05, 2023 4:20 am

420 with CNW — Concerns Arise as Few Blacks Enroll for UK Study on Marijuana’s Effects on the Brain

A campaign behind a UK-based study to research the effects of marijuana use on the brain is struggling to recruit Black and Asian volunteers who smoke cannabis regularly. The lack of adequate representation in the volunteer pool has raised concerns that the study’s findings would not be truly representative of the United Kingdom’s population. With £2.5m ($3.04 million) in funding, the King’s College London study seeks to understand how cannabis use can lead to psychosis and paranoia in some users but have no such effects in other users. Findings from the upcoming study could open the door to expanded therapeutic…

WednesdayOct 04, 2023 4:20 pm

420 with CNW — SAFER Banking Bill Clears Panel, Heads to Senate Floor

The Senate Banking Committee advanced a new bill on Sept. 27, 2023, that would grant marijuana businesses access to banking services. The bipartisan measure, the Secure and Fair Enforcement Regulation (SAFER) Banking Act, seeks to provide legal safeguards for financial institutions that choose to offer services to state-regulated cannabis enterprises. Senator Jeff Merkley (D), the bill's lead sponsor, celebrated this progress as a historic event, highlighting the remarkable spirit of cooperation across party lines. He expressed his concerns about the current scenario where legal cannabis businesses are forced to operate solely in cash, terming it an invitation to criminal activities…

WednesdayOct 04, 2023 4:20 am

420 with CNW — Marijuana Banking Outlook Improves in Senate

Banking access in America’s state-legal marijuana industry has been a controversial topic since its inception. Federal law prohibited cannabis even as dozens of states legalized the plant for medical and recreational use, resulting in a state-level industry that dealt in a federally outlawed product. Consequently, businesses in the cannabis sector were unable to access banking and financial services as financial institutions generally avoided state-legal cannabis cultivators, processors, and retailers for fear of federal reprisal. Efforts by a group of lawmakers to mitigate this issue and finally grant the cannabis industry access to banking have generally moved at a slow pace,…

TuesdayOct 03, 2023 4:20 pm

420 with CNW — Thai PM Announces Clampdown on Marijuana in Major Policy Reversal

Srettha Thavisin, Thailand’s newly elected prime minister, has pledged to change the country's cannabis laws over the next six months to limit their use to medical purposes only. Thailand became the first Asian country to decriminalize marijuana after delisting the plant as a narcotic last year, resulting in a surge of cannabis dispensaries and cafes in major tourist locations such as Pattaya, Chiang Mai and Bangkok. Currently, Thai law allows adults over the age of 20 to use marijuana inside their homes but not while they are nursing or pregnant. Furthermore, foods containing cannabis extracts are permitted to be served…

TuesdayOct 03, 2023 4:20 am

420 with CNW — Top Minnesota Marijuana Regulatory Official Quits as Background Information Raises Questions

A recently appointed marijuana regulatory official in Minnesota has stepped down just a day after taking the post after an MPR-APM report revealed conflicts of interest and evidence of business impropriety. Minnesota Governor Tim Walz appointed Erin DuPree as the head of the new Minnesota Office of Cannabis Management on Sept. 21, 2023, and his office penned a press release praising her for leading research on cannabis and hemp-derived products while remaining compliant with state cannabis regulations and laws. However, a background review by APM Reports and MPR News raised major questions about her background and the Walz administration’s verification…

MondayOct 02, 2023 4:20 pm

420 with CNW — Wyoming Activists Consider Court Action Against Government Official Regarding Stand on Marijuana Voter Measure

Activists behind two cannabis reform measures in Wyoming are considering seeking legal action against the secretary of state over a voter-signature disagreement. According to the campaign, Secretary of State Chuck Gary’s office “provided incorrect information” on the number of signatures activists had to submit for their measure to qualify for the 2024 ballot. The Compassionate Options Wyoming, the state Libertarian Party and Wyoming NORML says the misunderstanding has turned into a time-consuming back-and-forth that has derailed the marijuana reform measures and prompted them to consider litigation. Both measures would legalize medical cannabis in Wyoming and decriminalize simple possession of small…

MondayOct 02, 2023 4:20 am

420 with CNW — Payment Processing Firm Enters Canada’s Cannabis Market

Payment processing platform Square has announced its entry into the Canadian marijuana market through a collaboration with Jane Technologies, an online service that enables customers to order cannabis for store pickup or delivery. In line with the partnership, Square is poised to launch an early-access program tailored for licensed cannabis dispensaries in Ontario. The program will allow dispensaries to begin testing Square for retail point of sale (POS) solution within their brick-and-mortar stores, paving the way for a broader launch later on. In addition to payment processing, Square's new cannabis client services also feature real-time inventory tracking across various retail…