November 2023 - Page 2 of 5 - CannabisNewsWire

WednesdayNov 22, 2023 4:20 am

420 with CNW — Gallup Poll Finds Most Americans Disenchanted with Federal Drug Policy

A new survey has found that more than 50% of Americans believe the country has lost ground in the war on drugs. The poll, conducted by Gallup, also showed that 24% of respondents believed America had made progress. This is quite a difference from responses given on the same query in a 2019 survey, which stood at 30% for losing ground to 41% for making progress. This difference can be attributed to growing concern and awareness about the opioid epidemic, which has seen many individuals fall victim to drugs such as fentanyl. The shift may also reflect increased awareness on…

TuesdayNov 21, 2023 4:20 pm

420 with CNW — Could Rescheduling Make Marijuana Interstate Commerce Possible?

There is optimism among some marijuana executives that the federal government’s potential reclassification of cannabis from Schedule 1 to Schedule 3 could open the door for interstate commerce in marijuana products. However, legal experts in the marijuana industry caution that this optimism is only partially warranted. Schedule 3, along with Schedules 4 and 5, currently allows interstate commerce only for drugs that have received approval from the FDA. This approval includes drugs such as testosterone, ketamine, anabolic steroids and certain formulations of THC, such as Syndros, Marinol and dronabinol. The crucial factor, according to Bianchi and Brandt attorney Justin Brandt,…

TuesdayNov 21, 2023 4:20 am

420 with CNW — Congressional Researchers Say High Federal Taxes on Marijuana May Hamper Industry’s Economic Potential

The Congressional Research Service recently published a report that cautions legislators to consider the possible consequences of levying high taxes on cannabis products in the event that marijuana gets legalized federally. This comes as Congress considers several reform initiatives and the DEA concludes its review of marijuana scheduling and makes a decision on whether or not to reclassify cannabis as a Schedule 3 drug under the Controlled Substances Act, as recommended by the U.S. Health and Human Services Department. In a previous report, the nonpartisan research body argued that the DEA was likely to reschedule cannabis based on previous precedents.…

MondayNov 20, 2023 4:20 pm

420 with CNW — Survey Shows Growing Investor Interest in Cannabis MSOs

A recent survey indicates a growing optimism among institutional investors towards U.S. marijuana multistate operators (MSOs). Conducted by Calgary-based ATB Capital Markets, the survey involved 23 institutional investors, primarily hedge funds. Frederico Gomes, the lead author of the report and a marijuana equity analyst, highlighted the increased bullish sentiment among investors, driven primarily by the potential rescheduling of marijuana by the federal government. The survey reveals that about 61% of respondents believe U.S. marijuana MSOs will outperform the S&P 500 in the next year. However, despite this positive sentiment, Gomes notes that the capital influx has not yet aligned with…

MondayNov 20, 2023 10:30 am

Lexaria Bioscience Corp. (NASDAQ: LEXX) Looking to Generate Sizable License Revenue from IP Growth, Expanding Patent Suite

Lexaria, a global innovator in drug delivery platforms, has, since 2014, continuously worked on its patented DehydraTECH(TM) drug delivery technology The technology has demonstrated overall effectiveness in enhanced delivery of fat-soluble molecules through the human gastrointestinal system, as affirmed by clinical testing This overall effectiveness and push for its development has earned Lexaria 37 granted patents globally, with many patents pending The company is constantly enhancing its patent portfolio, since granted patents can support an increase in licensing revenue Lexaria Bioscience (NASDAQ: LEXX), a global innovator in drug delivery platforms, is eyeing growth in license revenue from its intellectual property…

MondayNov 20, 2023 4:20 am

420 with CNW — Prohibitionist States Register More Cannabis-Use Disorder Cases Than States with Legal Marijuana Markets

New research shows that the likelihood of a patient visiting an ER and getting a cannabis use disorder diagnosis is 50% lower in legal cannabis states in comparison to prohibitionist states. The research examined data obtained from emergency departments for the period between 2017–2020. Researchers focused on the states of Oregon and Colorado, which have legalized marijuana, and Rhode Island and Maryland, which still prohibit the use of marijuana. Specifically, the researchers assessed “treat & release” visiting rates, in which patients received cannabis-use disorder diagnoses that indicated problematic use of the substance. In total, the researchers had to analyze more…

FridayNov 17, 2023 4:20 pm

420 with CNW — Ohio GOP Governor Asks Legislature to Modify Voter-Passed Cannabis Measure Before It Takes Effect

Last week, the governor of Ohio urged legislators to revise the state’s cannabis legalization law before adult possession and cultivation became legal in December. The measure in question, Issue 2, was approved by voters a few days prior. Gov. Mike DeWine appealed to GOP leadership in the legislature to amend provisions that would limit public consumption, alleviate risk of impaired driving and restrict advertising. The governor has already scheduled a meeting with House Speaker Jason Stephens and Senate President Matt Huffman to discuss how to address what he terms as “holes” in this statutory measure. In his statement, the governor…

FridayNov 17, 2023 4:20 am

420 with CNW — German Legislators Push Cannabis Legalization Vote to Next Year

German lawmakers have decided to delay the final vote on a cannabis legalization bill, initially set for this week, pushing the potential implementation of the reform to at least early next year. The bill, slated for its final reading in the Bundestag, Germany’s national parliament, has been rescheduled for a decision in December, according to member Carmen Wegge. Kirsten Kappert-Gonther, a member of the Green Party, cited the need to refine certain aspects of the legislation as the reason for the delay. Despite this setback, she assured the public that legalization is inevitable, albeit postponed. Responding to inquiries about the…

ThursdayNov 16, 2023 4:20 pm

420 with CNW — Ohio Vote Means Recreational Cannabis Now Legal in 24 States

Ohio voters gave their approval last week to the legalization of recreational marijuana cultivation and sales, opening the doors to a potentially lucrative market in the Midwest. This milestone was achieved with around 53% of the votes counted, where supporters of Issue 2 were leading with 55.7% in favor against 44.3% opposed. This makes Ohio the 24th state to legalize recreational marijuana following a prolonged and contentious process. It is expected that the new recreational cannabis market could generate revenues close to $2 billion within the first year of operation, ultimately increasing to $4 billion by the fourth year, according…

ThursdayNov 16, 2023 4:20 am

420 with CNW — Lawsuits, Elections Could Impact Cannabis Rescheduling Timeline

With both the White House and Senate in the hands of the Democrats, the chances of federal cannabis legalization becoming a reality have skyrocketed. President Joe Biden based part of his campaign on cannabis reform, and his administration's Department of Health and Human Services (HHS) recently issued a recommendation to the U.S. Drug Enforcement Administration to loosen cannabis restrictions on the federal level. However, even though the current administration is throwing its weight behind cannabis reform and the DEA is likely to abide by HHS’ recommendation, lawsuits and elections may impact the timeline for federal cannabis rescheduling. Many drug reform…