420 with CNW – New York Marijuana Sales Poised to Set New Record

New York’s legal cannabis market is on track to exceed last year’s sales record, although the industry is not growing quickly enough to meet an ambitious projection made by the state’s top marijuana regulator.

Cannabis retail purchases exceeded $1.410 billion during the first nine months of 2026, according to figures presented by Kevin Brennan, deputy director of the state Office of Cannabis Management. The total puts the industry on course to surpass the $1.68 billion recorded in 2025.

The pace, however, remains below the $2.6 billion that John Kagia, OCM Executive Director, suggested could be achievable.

While New York has issued licenses to 1,039 marijuana retailers, only 712 were operating as of the latest OCM report. The potential arrival of hundreds of additional stores could intensify competition among existing businesses. A majority of the state’s municipalities have chosen not to permit recreational marijuana stores, meaning many will be vying for consumers in the same geographic areas.

Sales per retailer have already shown some weakness. Average yearly revenue per store dropped 3.4% to approximately $2.7 million. In Long Island, licensed shop numbers increased by half to 18, while average annual revenue was $11.4 million, down from 2025’s $14.90 million.

Meanwhile, the average price of cannabis products stood at $27.650, down 8% from January. At the same time, the number of products sold rose 7.3%.

Medical marijuana remains a relatively small part of the overall market, accounting for under 3% of total sales, Brennan said.

New York now has nearly 6 licensed marijuana retailers for every 100,000 residents. Brennan said the expanding number of shops means the state is moving closer to markets with considerably greater retail availability, although New York remains trailing several established cannabis states.

Oregon has the highest retail concentration among the markets cited by OCM, with 18.4 stores for every 100,000 residents, followed by Colorado at 14.8 and Michigan at 8.6. For Washington, the number is 7.7; in Massachusetts, it is 6.9, while California is at 4.6.

The strongest store-level performance is coming from businesses operated by registered organizations, companies that hold vertically integrated medical cannabis licenses. Their outlets serving both medical and recreational customers generate an annual revenue average of $5 million.

That figure is more than twice the roughly $2.2 million average reported by social and economic equity retailers, highlighting a significant gap in performance across New York’s developing cannabis industry.

For the marijuana movement, including businesses like Cresco Labs Inc. (CSE: CL) (OTCQX: CRLBF), watching the trajectory of the legal marijuana industry in New York, there is plenty to be pleased about given the stuttering start that the industry experienced when adult-use sales had just been launched.

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CNW420 spotlights the latest developments in the rapidly evolving cannabis industry through the release of an article each business day at 4:20 p.m. Eastern – a tribute to the time synonymous with cannabis culture. The concise, informative content serves as a gateway for investors interested in the legalized cannabis sector and provides updates on how regulatory developments may impact financial markets. If marijuana and the burgeoning industry surrounding it are on your radar, CNW420 is for you! Check back daily to stay up-to-date on the latest milestones in the fast -changing world of cannabis.

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420 with CNW – Florida Ballots Could Have 3 Options Seeking Marijuana Legalization

Florida voters could face three separate proposals seeking to legalize recreational marijuana when the state’s 2028 election arrives.

The Division of Elections gave the go-ahead to the Floridians for Marijuana initiative on September 30. A second measure, backed by Let Florida Vote IV, is still awaiting consideration by the Florida Financial Impact Estimating Conference. Both groups are led by the same political team, with Zack Whitson serving as chair and Gloria Maggiolo as treasurer.

The campaigns are entering a field already occupied by Smart and Safe Florida, which is supported by medical marijuana giant Trulieve.

Trulieve spent over $145 million supporting a 2024 legalization amendment. The measure fell short of Florida’s 60% threshold for constitutional amendments by 4%.

The company later provided about $67 million for Smart and Safe Florida’s effort to place another legalization measure on this year’s ballot. However, that failed after Cord Byrd, Secretary of State, instructed election officials to reject almost 71,000 petition signatures. The Florida Supreme Court declined to take up the dispute.

Smart and Safe Florida has continued working toward 2028, but it must gather approximately 880,000 valid signatures, equivalent to 8% of registered voters. Reaching roughly 220,000 signatures triggers state financial and judicial reviews.

The Floridians for Marijuana measure would permit people aged 21 and over to buy and possess cannabis from licensed retailers. The measure would set a possession ceiling of 2 ounces of marijuana and 5 grams of concentrates.

Medical marijuana operators licensed by January 1, 2025, could shift into the recreational market six months after the proposal is approved. Future businesses would not have to follow the vertically integrated model used by existing medical operators and could specialize in cultivation, processing, transportation, or retail sales.

The proposal would prohibit cannabis packaging and advertising designed to appeal to children. Vaping or smoking marijuana in public spaces would also be banned, while property owners could prohibit cannabis use on their premises. The measure would not prevent lawmakers from permitting home cultivation or regulating non-smoked products.

It would preserve laws against driving while impaired, leave federal restrictions unchanged, and allow the Legislature to impose taxes on marijuana sales.

The Let Florida Vote IV proposal takes a similar approach but would permit medical marijuana companies licensed by the 2028 election to enter the recreational market. It would also expressly allow recreational and medical operators to trade cannabis with one another.

Another distinction is the creation of a dedicated licensing authority for new recreational businesses. If lawmakers do not establish one, the Health Department would assume that responsibility. The proposal also sets deadlines for licensing and regulatory action if the lawmakers fail to act.

The differences may reflect an effort to provide an alternative should one measure face challenges under Florida’s single-subject requirement. Recent legalization campaigns have kept proposals narrowly focused after the state Supreme Court rejected earlier initiatives.

That constraint has also kept the 2028 measures from addressing broader issues such as home growing, automatic record clearing, and social-equity programs, which could face greater scrutiny during the review process.

Marijuana companies like Curaleaf Holdings Inc. (CSE: CURA) (OTCQX: CURLF) will be wondering whether having so many options on the ballot will not confuse voters and result in each measure performing more poorly than it would have had there been only one option.

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420 with CNW – Hemp-Sourced THC Industry Scrambles for Reprieve as Federal Ban Looms

A growing U.S. industry built around hemp-derived THC products is confronting an uncertain future as Congress moves toward tighter federal restrictions that could force many businesses to close.

In North Carolina, entrepreneur Nicholas Hohns has built a company producing high-potency THC edibles. His operation grew rapidly after the COVID-19 pandemic, after he lost a personal trainer job. Now, he is considering other products, including creatine gummies, in case new federal rules make his current business impossible.

The dispute centers on a provision in the 2018 farm bill that legalized industrial hemp. The law classified hemp as cannabis containing no more than 0.3 percent delta-9 THC on a weight basis. That definition created an opening for manufacturers to produce beverages, candies, and other products containing enough hemp-derived THC to cause intoxication while remaining within the legal threshold.

The market expanded nationwide, with THC gummies, drinks, vape products, and other items appearing in convenience stores, gas stations, and other retailers. Some products were available in places that prohibit recreational marijuana, while others competed with licensed cannabis businesses in states where marijuana is legal.

Congress later moved to close the loophole. A provision included in legislation ending a prolonged government shutdown established a federal limit of 0.4 mg of THC per package. The restriction was initially scheduled to take effect one year after passage.

A temporary government-funding measure subsequently pushed the effective date from November to December, providing lawmakers additional time to consider alternatives.

Industry representatives are urging Congress to regulate the products instead of eliminating them. Proposed changes include restricting sales to adults aged 21 and over, imposing package-level THC limits, and prohibiting imported cannabis compounds.

Kentucky-based Cornbread Hemp is among the businesses seeking a compromise. Company executives say they could accept a significantly lower THC level, potentially around 5 milligrams per product, but argue that the proposed federal threshold would make their operations unviable. The company employs more than 100 people and sells hemp beverages across numerous states.

Industry advocates also warn that the proposed limit could affect some CBD products that do not produce intoxication, including certain topical treatments.

Not everyone opposes the crackdown. Public health advocates argue that loosely regulated intoxicating hemp products can pose risks, particularly when they are sold outside established cannabis regulations.

Licensed marijuana businesses also support the restrictions, saying hemp-derived THC products have benefited from a regulatory gap. Their representatives argue that companies built around the loophole should expect major changes as federal oversight increases.

For business owners such as Hohns, however, the debate is about whether years of investment can survive the coming rules. Some companies have already halted production, while others are preparing for a market in which their existing products may no longer be legally viable.

The situation is still very much in flux, and anything can happen on the regulatory front. Various businesses like Innovative Industrial Properties Inc. (NYSE: IIPR) that serve cannabis businesses will be monitoring how discussions progress on matters of THC products made from hemp.

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420 with CNW – DEA Judge Pauses Ongoing Cannabis Rescheduling Process

The federal government’s review of marijuana’s legal status is facing another delay, leaving cannabis businesses waiting longer for potential tax changes tied to broader rescheduling.

A temporary pause was ordered last Tuesday by Derek Julius, the DEA’s chief administrative judge. The move came after opponents of cannabis reform requested that a recent Government Accountability Office (GAO) report be added to the administrative record before proceedings continue.

Judge Julius has been considering how to advise the DOJ on a White House directive calling for federal cannabis restrictions to be reduced. His decision now appears unlikely before November at the earliest.

The delay has significant financial implications for the cannabis sector. Medical cannabis covered by state licensing has been treated as a Schedule III substance since April. Extending that classification to cannabis more broadly could allow businesses serving recreational consumers to qualify for federal tax treatment currently unavailable to companies handling federally controlled substances.

Hemp companies could also be affected. Some businesses are facing a December 11 deadline under which certain products will no longer meet the federal definition of legal hemp, potentially creating regulatory and tax consequences.

The judge is not bound by a specific timetable, and AG Todd Blanche would not be legally obligated to adopt his recommendation. Legal challenges brought by groups opposing rescheduling have not succeeded so far.

The latest development followed a September 23 GAO report examining federal procedures for placing controlled substances into different schedules. The watchdog reviewed 208 scheduling actions across various drugs and concluded that the FDA and the DEA could strengthen their policies. Among the issues identified were gaps in guidance for staff conducting scheduling evaluations.

Groups opposed to marijuana rescheduling quickly cited those findings. On September 28, Dr. Kenneth Finn, NDAA, and DUID Victim Voices, all participants in the recent hearings, asked the judge to include the report in the case record. They argued that its relevance to the cannabis proceedings should first be assessed.

The judge subsequently issued a temporary stay and directed the DOJ to respond by October 13. He said the request had enough merit to justify waiting for arguments about whether the GAO findings should become part of the record.

The dispute also touches on the scientific standards used during the rescheduling review. Historically, the DEA relied on a five-part framework when determining whether a substance had acceptable medical use. For marijuana, however, the DHHS applied a separate two-part approach in reaching its 2023 conclusion that marijuana met the criteria for rescheduling.

During the hearings held over the summer, FDA officials acknowledged that marijuana would not have qualified for Schedule III under the previous five-part standard.

Opponents of legalization welcomed the pause, stating that the GAO findings reinforced concerns about moving forward before federal agencies address questions surrounding the evaluation process.

Marijuana companies, such as SNDL Inc. (NASDAQ: SNDL), will be following these latest developments that could further delay the process of federally rescheduling marijuana in the U.S.

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420 with CNW – How DOT Substance Testing Could Be Impacted by Marijuana Rescheduling

A commercial driver who uses cannabis under a state medical program may still face a verified positive drug test under federal transportation rules, even if the substance was obtained legally within that state.

The issue has become more significant as federal officials begin changing cannabis’ classification under the CSA. The Transport Department has made clear that a shift toward Schedule 3 does not, by itself, permit marijuana use by workers in safety-sensitive transport roles.

Last December, President Donald Trump directed the Justice Department to accelerate proceedings that could shift cannabis to Schedule 3. DOT said at the time that its testing requirements remained unchanged.

In April, the DEA placed certain FDA-approved marijuana products and marijuana covered by state medical programs in Schedule 3. Meanwhile, a broader proceeding concerning marijuana’s overall federal classification continued, with hearings held during late June and July.

Controlled substances placed in Schedule 3 remain subject to federal restrictions. A change in scheduling doesn’t automatically make state-approved medical cannabis permissible under federal rules or eliminate workplace drug-testing requirements.

DOT oversees drug-testing requirements affecting millions of workers in aviation, trucking, rail, pipelines, transit, and other transportation sectors. The department has pointed to federal legislation enacted in 1991 as authority for testing controlled substances that present transportation safety concerns when used.

The technical framework presents additional questions. DOT testing operates alongside federal workplace testing guidelines administered by the DHHS and laboratories certified under those requirements. Marijuana remains part of the federal testing panel, although some parts of the framework refer specifically to substances in Schedules 1 and 2. DOT and HHS have been examining how broader rescheduling could affect those requirements.

For medical-review officers, the current position is clearer. A worker cannot generally overturn a confirmed cannabis result simply by producing their state medical-cannabis card, doctor’s recommendation, or dispensary documentation. DOT guidelines say such state authorization does not constitute a federally recognized prescription under the CSA.

That means a driver who legally purchased cannabis through a licensed state dispensary could still have a positive DOT result verified rather than dismissed.

Commercial drivers also face separate requirements administered by the FMCSA. Existing FMCSA guidelines have treated marijuana use as incompatible with federal qualification standards, although that guidance was developed when cannabis remained in Schedule 1.

Federal regulations distinguish Schedule 1 substances from certain drugs in Schedules 2 through 5, creating a question about how the rules will apply if marijuana is ultimately classified more broadly in Schedule 3. FMCSA may therefore need to clarify how its medical-qualification standards interact with the changing federal schedule.

For now, employers should continue following existing DOT testing requirements. State legalization does not override federal transportation rules, and the April DEA action does not establish that commercial drivers may use medical cannabis.

Transportation companies should monitor developments from DEA, DOT, HHS, and FMCSA rather than relying solely on changes to cannabis’ federal classification. The scheduling process may alter federal policy, but it does not by itself determine what cannabis use means for employees operating within safety-sensitive transport roles.

For now, cannabis industry operators like Tilray Brands Inc. (NASDAQ: TLRY) (TSX: TLRY) will continue monitoring the federal drug regulatory landscape as it evolves in terms of what is or isn’t permitted for employees.

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420 with CNW – Scientists Discover New Compounds with Possible Therapeutic Attributes in Marijuana Leaves

Researchers investigating the chemical makeup of marijuana have uncovered a rare category of naturally occurring compounds in the plant that had not previously been recorded.

The finding came from Stellenbosch University’s analytical chemists in South Africa, who examined commercially cultivated marijuana from the country. Their work indicates that the leaves, often considered a low-value byproduct, contain a broader and more chemically diverse variety of substances than previously understood.

The compounds belong to the phenolic family, a large group of plant chemicals associated with functions such as pigmentation, protection, and responses to environmental stress. Flavonoids, one of the best-known categories within this family, have attracted scientific interest due to the individual compounds linked to anti-inflammatory, antioxidant, and possible anti-cancer effects.

Flavoalkaloids are considerably rarer. In their research, the Stellenbosch team found 79 phenolic substances across three commercially cultivated marijuana strains. Twenty-five hadn’t previously been documented in the species. Sixteen were provisionally recognized as flavoalkaloids, the first ever reported in marijuana leaves.

The majority of the compounds were concentrated in one strain, suggesting that phenolic chemistry can differ substantially between genetically distinct plants.

The research was led by analytical chemist Dr. Magriet Muller, with Prof. André de Villiers serving as her study supervisor and the paper’s principal author.

The researchers used a technique that separates compounds through two complementary processes, improving the ability to distinguish substances that might otherwise overlap. Mass spectrometry then measures molecular masses with a high degree of precision, helping researchers determine the identity of individual compounds.

Muller said analyzing plant phenolics presents a significant technical challenge because the substances can occur in minute quantities and have highly varied structures. Closely related chemicals can also be difficult to distinguish within the complex mixture produced by a plant.

Marijuana is particularly challenging. Researchers have identified over 750 metabolites in the plant, yet the new study revealed unexpectedly large differences in their phenolic composition among just three strains.

This study points to a broader issue in plant research: substances present in small amounts can remain undetected when conventional analytical methods cannot adequately separate them from more plentiful compounds.

Marijuana research has traditionally emphasized cannabinoids, which account for many of the plant’s recognized pharmacological effects. The Stellenbosch findings suggest that its non-cannabinoid chemistry warrants further investigation.

The researchers say discarded marijuana leaves could ultimately prove useful for studying compounds of potential biomedical interest, although further research will be needed to establish their properties and possible applications.

While these findings may be surprising to the scientific community, they are unlikely to surprise companies like Trulieve Cannabis Corp. (CSE: TRUL) (OTCQX: TSNDF) that have for long believed that the full therapeutic potential of the marijuana plant has yet to be fully understood.

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420 with CNW – Virginia Releases Draft Regulations for Adult-Use Marijuana Market

Virginia regulators have released a proposed framework for the state’s recreational marijuana industry, providing new details about where cannabis could be sold, who can enter the market, and the limits consumers will face when retail sales launch next year.

The state’s Cannabis Control Authority (CCA) presented an 82-page set of draft regulations to the board on September 9. The proposal calls for as many as 350 independent recreational cannabis retailers across the state, although the full number is not expected to begin operating immediately. Regulators could also approve as many as 100 microbusinesses during the initial phase.

The proposed system would permit cannabis delivery services. However, drive-through operations and curbside collection, both of which are available at some medical marijuana businesses, would remain prohibited.

Consumers would be permitted to purchase no more than two ounces of marijuana flower in a single transaction. Equivalent limits would apply to other products, including 8g of concentrate or 800 mg of THC contained in edible products.

Stores would need to maintain a distance of at least 1,000 feet from schools, hospitals, colleges, and facilities providing child care services.

A standalone retailer would pay a $4,000 application charge, followed by a $20,000 initial licensing fee and a $15,000 annual renewal fee. Existing medical operators seeking permission to operate in the recreational market would face a $10 million dual-use payment.

Smaller operators would have a lower financial barrier. Microbusiness applicants would pay a $1,000 application fee and $2,500 for a starting permit.

Businesses owned and controlled primarily by individuals who meet the state’s criteria for communities disproportionately affected by past cannabis enforcement could receive licensing discounts or exemptions.

In cases where the demand for licenses exceeds the number available in some categories, the authority plans to conduct lotteries among eligible applicants.

Several potential operators have raised concerns about the rollout schedule. Issuing of new licenses is scheduled for May, while cannabis growers told regulators that producing a market-ready crop can require four to five months for cultivation, drying, curing, processing, and testing.

That timing could leave existing medical marijuana companies with an advantage. These businesses already have production facilities and established supply networks, potentially allowing them to serve recreational customers when sales begin.

Local governments are also preparing. Henrico County’s Planning Commission recently instructed staff to develop zoning provisions covering cannabis sales, cultivation, delivery, processing, and transportation.

The authority is expected to complete the regulations by December. The rules are scheduled to take effect next year, with applications opening no later than February 1. Retail sales are set to begin in July 2027.

If the roll-out is successful, the adult-use market could create additional opportunities within the industry ecosystem, such as openings for companies similar to Innovative Industrial Properties Inc. (NYSE: IIPR) that address the real estate needs of marijuana companies.

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420 with CNW – Thailand Cabinet OKs Draft Law Seeking to Tighten Oversight of Marijuana Industry

Thailand’s Cabinet has approved proposed legislation aimed at imposing stricter controls on the country’s rapidly expanding cannabis sector, marking another step toward reversing the broad decriminalization introduced in 2022.

Pattana Promphat, the country’s minister for public health, said that the proposed law would tighten supervision of cannabis processing and cultivation while introducing tougher penalties for breaches of the rules.

The Cabinet’s decision came after months of preparation that included a public participation period and an assessment of the legislation’s potential regulatory impact. Public commenting was opened in June before the proposal was reviewed by the Public Health Ministry and submitted to the Cabinet. The bill will now go before Parliament, where lawmakers will consider its provisions.

The proposed framework reflects the government’s intention to confine cannabis primarily to medical purposes. Thailand removed cannabis from its narcotics list in 2022, leading to a rapid growth in dispensaries across Bangkok and popular tourist areas. Current regulations already require customers to obtain prescriptions and restrict sales to authorized medical establishments.

The decriminalization drive was led by the Bhumjaithai Party, which had promoted the policy during the 2019 campaign. Thailand subsequently became the first Asian country to remove cannabis from its narcotics controls. The party is currently pushing for tighter regulation.

Under the new proposal, cultivators would be required to register their growing sites and provide information such as location and plantation size. Officials would use the system to monitor the plant as it moves from cultivation to processing and eventual sale.

Current dispensary permits are due to expire progressively until 2028. Operators seeking to remain in business would have to obtain approval as medical dispensaries and have qualified health practitioners available on their premises.

Separate permits would be required for growing, manufacturing, importing, exporting, and selling marijuana. The Department of Thai Traditional and Alternative Medicine would oversee the licensing process, with permits valid for only three years.

Certain plant materials, including seeds, roots, stems, branches, and foliage, would not require a sales license under the proposed rules.

The measure would also bar cannabis sales to individuals under 20, as well as pregnant and breastfeeding women. Retail transactions would be prohibited at locations such as amusement parks, temples, schools, dormitories, public parks, and zoos.

Pattana noted that a government monitoring system has recorded 10,000 marijuana cultivation sites and businesses, which account for more than 95% of current operations. Establishments not included in the database shall be treated as potentially operating outside the law, he said.

The international cannabis industry, including established companies like TerrAscend Corp. (TSX: TSND) (OTCQX: TSNDF), will be keeping an eye on how the regulatory environment evolves in Thailand and assessing its implications on the broader push to have drug laws eased around the world.

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420 with CNW – Recreational Marijuana Sales Rake in $250M for Minnesota in Year One

Minnesota’s retail cannabis industry generated $250 million during the first year of non-tribal recreational cannabis sales, according to recent data released by the state’s Office of Cannabis Management.

Recreational marijuana products accounted for $150 million of that total, while medical cannabis sales reached roughly $100 million. Together, the two markets recorded approximately 1.2 million transactions.

The state’s medical marijuana program currently has over 90,000 people enrolled. The number is more than twice that recorded before lawmakers removed patient fees and broadened eligibility requirements.

The sales figures mark a notable change from the industry’s early difficulties. Minnesota’s rollout was slowed by limited cultivation capacity, creating supply shortages that left some stores struggling to keep products in stock during 2025.

Although lawmakers approved recreational marijuana in 2023, licensing moved slowly. The first growing authorization was not issued until June last year, limiting the amount of locally produced cannabis available to retailers.

When recreational sales opened to non-tribal customers last year, purchases were initially handled by Minnesota’s two established medical marijuana operators, namely Green Thumb Industries’ Rise, and Green Goods, run by Vireo Growth. Since then, over 300 additional marijuana businesses have opened.

Social-equity businesses have played a significant role in that expansion. OCM reported that applicants qualifying under the state’s social-equity program account for 43% of the 369 cannabis businesses. The agency also noted that verified social-equity applicants hold 86% of mezzobusiness cultivation, retail and manufacturing licenses.

State assistance has included over $1.5 million in grants aimed at helping smaller operators establish and grow their businesses. State officials said the legalization program was intended to create economic opportunities for communities affected by marijuana prohibition.

Flower remained Minnesota’s most popular cannabis product, followed by edibles, concentrates, and pre-rolls. Pricing varied substantially between the medical and recreational markets. The median price for recreational flower was $13.54/gram, compared with $9.17/gram for medical flower.

Production capacity has increased sharply. OCM said 102 license holders are now authorized to cultivate cannabis, with a combined capacity of 486,720 cannabis plants. That compares with 11 cultivators growing 72,083 cannabis plants during last year’s shortage, representing a 575% increase in the number of plants.

Small businesses account for much of the cultivation sector. Nearly 75 percent of cultivation permit holders are classified as microbusinesses, suggesting that small-scale operators make up a substantial part of Minnesota’s emerging cannabis production industry.

This steady expansion of Minnesota’s marijuana industry from the time adult-use sales launched is welcome news to the overall industry that includes operators like Cresco Labs Inc. (CSE: CL) (OTCQX: CRLBF) that run facilities in other legal markets in the country.

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420 with CNW – Federal Court Denies Motion to Halt Marijuana Rescheduling Process

A federal court has declined to temporarily suspend the Trump administration’s decision to move state-legal medical cannabis from Schedule 1 to 3, allowing the reclassification to remain in place while a broader legal challenge continues.

A three-member bench of the U.S. Court of Appeals for the DC Circuit issued its ruling September 9, rejecting a request brought by MMJ International Holdings and the NDASA. The organizations had sought an emergency stay of an April 22 directive signed by Attorney General Todd Blanche.

The challengers argued that allowing the new classification to continue would cause them significant and potentially irreversible damage. They also warned that wider marijuana availability could produce serious consequences while the litigation was pending.

The court disagreed, concluding that the groups had not met the demanding legal standard required for a stay during judicial review.

The DOJ had previously disputed the challengers’ position, arguing that their financial interests were tied to maintaining marijuana prohibition and did not necessarily correspond with the broader interests of the public.

The panel also denied a bid by two medical cannabis companies, Tri-Mountain Pure LLC and MedPharm Iowa LLC, which operates as Bud and Mary’s, to intervene in the lawsuit on the government’s behalf. The companies said they had sought DEA registration under the new classification and could benefit from the ability to claim ordinary business deductions previously restricted by Section 280E of the federal tax code.

Although the court refused to make the businesses parties to the proceedings, it allowed them to submit amicus briefs. The same option was extended to lawyers representing interests within the cannabis sector, enabling them to present arguments without formally joining the litigation.

Industry group American Trade Association for Cannabis and Hemp welcomed the decision, describing it as an important step toward broader medical marijuana access.

The ruling does not settle the central dispute over whether Blanche’s rescheduling directive should ultimately stand. Nine petitioners have challenged the policy, asking the court to invalidate it.

Among those involved are NDASA, Smart Approaches to Marijuana, New Directions Addiction Recovery Services, physicians Elizabeth B. Stuyt and Kenneth Finn, and Cannabis Industry Victims Educating Litigators. Attorneys general from Indiana and Nebraska have also filed a separate challenge. The appeals court combined the cases into a single proceeding.

The judges directed the parties to submit proposed briefing arrangements in 30 days and encouraged them to coordinate their filings to prevent unnecessary duplication.

Meanwhile, the policy shift is already affecting the industry. Medical marijuana businesses have begun seeking DEA registration, while companies including Glass House and Trulieve have made corporate changes that enabled their shares to trade on the New York Stock Exchange.

Separately, a DEA administrative hearing examining whether marijuana broadly should be moved to Schedule 3 concluded July 15. A recommendation from the administrative law judge is expected as the federal review continues, and marijuana companies like Green Thumb Industries Inc. (CSE: GTII) (OTCQX: GTBIF) will be awaiting that ruling.

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