With the federal government moving to reschedule marijuana, a Democratic congressman has issued a new memo on cannabis reform priorities to reflect renewed “optimism for the path ahead”—laying out suggestions to advance the issue both in Congress and administratively. Rep. Earl Blumenauer (D-OR), founding co-chair of the Congressional Cannabis Caucus, issued the memo on Tuesday—about... Continue Reading →
Alaska Senate Panel Takes Up House-Passed Bill To Create Psychedelics Task Force In Anticipation Of Federal Legalization
Days after the Alaska House of Representatives approved a bill that would create a state task force to study how to license and regulate psychedelic-assisted therapy in the event of federal approval of substances such as MDMA and psilocybin, a Senate panel has already advanced the measure. The Senate Judiciary Committee, which considered a companion... Continue Reading →
DEA chief dodges marijuana rescheduling questions from Congress
Any cannabis industry stakeholders hoping for more intel on the rescheduling process from a congressional questioning of the Drug Enforcement Administration chief on Tuesday morning were sorely disappointed, when the hearing only resulted in a brief verbal jousting between the DEA czar and a few lawmakers. DEA Administrator Anne Milgram refused to answer questions from... Continue Reading →
Passing Marijuana Banking Bill Would Increase ‘Integrity And Quality Control’ In Financial System, IRS Commissioner Says
The head of the Internal Revenue Service (IRS) says marijuana industry banking access would make the agency’s job easier, and officials “shouldn’t just sit on our hands” as the federal government moves to reschedule cannabis. At a hearing before the House Appropriations Subcommittee on Financial Services and General Government on Tuesday, Chairman Dave Joyce (R-OH)... Continue Reading →
Ascend’s expansion yields revenue gains, profitability pains
New York-based Ascend Wellness Holdings (CSE: AAWH.U) (OTCQX: AAWH) reported its financial results for the first quarter ending March 31, showing a growing six-figure debt bill from expansion and a net loss for the period. AWH posted gross revenue of $174.2 million in the first quarter of 2024, a 23.4% increase from the same period last... Continue Reading →
FDA Expert Committee Will Review MDMA-Assisted Therapy For PTSD Next Month
The Food and Drug Administration (FDA) is taking the next step in its historic review of MDMA-assisted therapy for the treatment of post-traumatic stress disorder (PTSD), scheduling a meeting next month where an expert committee will examine the evidence behind the application. Lykos Therapeutics (formerly MAPS Public Benefit Corporation) announced on Monday that FDA’s Psychopharmacologic... Continue Reading →
DEA Head Tells Lawmakers It Would Be ‘Inappropriate’ To Comment On Marijuana Rescheduling Proposal Due To ‘Ongoing’ Administrative Process
The head of the Drug Enforcement Administration (DEA) told lawmakers on Tuesday that it would be “inappropriate” for her to comment on the agency’s recent marijuana rescheduling determination because the rulemaking process is “ongoing.” About a week after the Justice Department confirmed DEA is seeking to move cannabis from Schedule I to Schedule III of... Continue Reading →
Neptune Wellness insider trading case settled
The Securities and Exchange Commission (SEC) accepted a settlement with John M. Moretz regarding insider trading of Canadian cannabis company Neptune Wellness Solutions Inc. (OTC: NEPTF). Moretz didn’t admit to the SEC’s allegations of insider trading but agreed to pay a $115,000 penalty and be barred from serving as an officer of a public company... Continue Reading →
Medical Cannabis Program on the Decline in New Jersey
Medical Cannabis Program on the Decline in New Jersey Image Cannabis News May 7, 2024 Decline in New Jersey's Medical Cannabis Program Raises Concerns Among Patients. Patient numbers are at an all-time low, and patients are facing a myriad of roadblocks, such as limited medical-only dispensaries, steep doctor’s visit fees, and more. Medical cannabis is... Continue Reading →
New Hampshire Governor Will Sign Marijuana Legalization Bill If Senate Makes Changes, He Says
With a House-passed marijuana legalization bill now pending in the New Hampshire Senate, Gov. Chris Sununu (R) is repeating his warning that the proposal will only win his approval if lawmakers adopt further changes to align the plan with his wishes. “I laid out the eight or 10 things that I’d like to see in... Continue Reading →
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