Author: CannabisNewsWire (CNW)

About CannabisNewsWire CannabisNewsWire (CNW) is an information service that provides (1) access to our news aggregation and syndication servers, (2) CannabisNewsBreaks that summarize corporate news and information, (3) enhanced press release services, (4) social media distribution and optimization services, and (5) a full array of corporate communication solutions. As a multifaceted financial news and content distribution company with an extensive team of contributing journalists and writers, CNW is uniquely positioned to best serve private and public companies that desire to reach a wide audience of investors, consumers, journalists and the general public. CNW has an ever-growing distribution network of more than 5,000 key syndication outlets across the country. By cutting through the overload of information in today’s market, CNW brings its clients unparalleled visibility, recognition and brand awareness. CNW is where news, content and information converge. To receive SMS text alerts from CannabisNewsWire, text “CANNABIS” to 21000 (U.S. Mobile Phones Only) For more information please visit https://www.CannabisNewsWire.com Please see full terms of use and disclaimers on the CannabisNewsWire website applicable to all content provided by CNW, wherever published or re-published: http://CNW.fm/Disclaimer

420 with CNW — SD Governor Vetoes Proposed Law to Raise Hemp THC Cap

South Dakota Governor Kristi Noem has vetoed a bill that sought to increase THC levels in industrial hemp and its derivatives. Industrial hemp was legalized in 2018 after Congress approved the Farm Bill and allowed farmers across the country to cultivate, process and sell industrial hemp with less than 0.3% THC in state and tribal programs.

THC (delta-9 tetrahydrocannabinol) is the main chemical agent in marijuana, and it produces the plant’s infamous psychoactive effects. But while marijuana contains high enough levels of THC that the chemical can cause mind-bending effects, industrial hemp has very little THC and no psychoactive effects.

Retailers across the country can now carry and sell hemp products as long as they contain less than 0.3% THC. According to Governor Noem, the bill to increase THC limits in industrial hemp would “jeopardize the effectiveness and safety” of South Dakota’s industrial hemp sector. She said that the measure would conflict with federal law that sets THC levels in hemp to below 0.3% while making it impossible for marijuana products, which usually contain well over 0.3% THC, to be classified as hemp products.

The governor said in a public statement that passing bill HB 1209 would go against the “clearly expressed will of the people,” referring to state residents who rejected a recreational cannabis measure in the 2022 ballot. Bill HB 1209 was sponsored by Representative Oren Lesmeister and would have increased THC limits in industrial hemp to 5%. However, Governor Noem noted that doing so would undermine the state’s enforcement of drug laws and jeopardize its hemp program.

South Dakota currently allows for THC levels of up to 1% for hemp plants that are currently in the processing stage. Bill sponsor Lesmeister said that while these high levels are temporary, they are inevitable during processing when highly concentrated oils and cannabinoids are being extracted from the plant matter. He added that as hemp product processors aren’t regulated by the federal market, states with hemp programs often overlook higher-than-0.3 % THC concentrations during processing.

His measure would make it so that THC levels of up to 5% were allowed during processing, similar to regulations in New York and Colorado. Lesmeister explained that the current 1% upper limit was a compromise, but that processors regularly exceed 1% THC levels in processing before THC levels drop to below 0.3% THC once the final product is complete.

This spike prevents licensed processors from accessing crop insurance and similar safety nets that are accessible to other crop markets.

Until the disconnect between marijuana policies at  the federal level are updated to be in sync with the reality at state level, many budding entities such as Advanced Container Technologies Inc. (OTC: ACTX) may walk a tightrope trying to serve companies within jurisdictions where marijuana is permitted for either therapeutic or recreational use.

NOTE TO INVESTORS: The latest news and updates relating to Advanced Container Technologies Inc. (OTC: ACTX) are available in the company’s newsroom at https://cnw.fm/ACTX

About CNW420

CNW420 spotlights the latest developments in the rapidly evolving cannabis industry through the release of two informative articles each business day. Our 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. Articles are released each business day at 4:20 a.m. and 4:20 p.m. Eastern – our tribute to the time synonymous with cannabis culture. 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 — Major Association in Alcohol Industry Backs Federal Cannabis Legalization

A major industry group representing the alcohol industry urged lawmakers to federally legalize adult-use marijuana in a letter sent to congressional leaders on Wednesday. According to the WSWA, the current disparity between federal and state law not only has negative effects on both cannabis users and nonusers, but it will also have prolonged effects on public safety and health.

In its letter, the association emphasized two major points: first, cannabis regulation could be modeled after the current alcohol system, and second, piecemeal cannabis reform is unworkable, so legislators should take a comprehensive approach to the problem.

Additionally, the letter emphasizes the need for states to maintain their independence in deciding whether or not to legalize marijuana within their territory. Moreover, it endorses the proposal for the national government to permit interstate cannabis trade, which is a view that is broadly shared by lawmakers and business leaders in the majority of states.

The WSWA cited a 2021 policy brief that outlines the regulatory priorities it believes legislators should consult as they work to find a framework for legalization. According to the policy brief, legislators should borrow experiences from alcohol regulations and guidelines to create a marijuana regulatory framework that fosters public safety, innovation and industry competition.

WSWA outlined four major guidelines for federal control over a supply chain for marijuana for adult use: the federal licensing of marijuana growers, importers, testing labs and distributors; the control and approval of marijuana products; the effective and efficient collection of excise tax at the federal level; and the effective implementation of strategies to promote public safety.

In its policy brief’s conclusion, WSWA — which in 2018 spoke out in favor of states legalizing marijuana — explained its decision to offer advice on federal marijuana reform. According to the report, a secure and prosperous market has since emerged after the end of alcohol prohibition, one that meets the requirements of consumers and regulators alike.

Cannabis regulation and legalization bills at the federal level have twice passed through the House but failed in the Senate due to the latter’s failure to pass comprehensive reform. WSWA’s involvement, according to proponents of legalization, could strengthen efforts to persuade lawmakers to take the matter more seriously.

A significant distinction between the WSWA’s proposal and that of Chuck Schumer, Senate Majority Leader, is the allocation of regulatory responsibility. Advocates have expressed concern about the Senate proposal’s deference to the FDA, and it is likely that many stakeholders would find WSWA’s position on having TTB handle basic oversight to be more agreeable.

That jostling aside, a less controversial path is being explored by various enterprises, such as India Globalization Capital Inc. (NYSE American: IGC), in which efforts are being deployed to produce FDA-approved medicines from cannabis constituents such as THC for several indications.

NOTE TO INVESTORS: The latest news and updates relating to India Globalization Capital Inc. (NYSE American: IGC) are available in the company’s newsroom at https://cnw.fm/IGC

About CNW420

CNW420 spotlights the latest developments in the rapidly evolving cannabis industry through the release of two informative articles each business day. Our 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. Articles are released each business day at 4:20 a.m. and 4:20 p.m. Eastern – our tribute to the time synonymous with cannabis culture. 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 — Maryland Follows Growing Nationwide Trend, Opens First Marijuana Consumption Lounge

Maryland has officially joined a small but growing group of U.S. states with operational marijuana consumption lounges. Launched in Burtonsville, Ceylon House is the first marijuana consumption lounge in Maryland that allows adults to gather and smoke cannabis outside of their homes.

The facility will only serve medical marijuana patients for the moment, and staff will check customer licenses at the door before letting them in. At the moment, Ceylon House currently operates in a sort of grey area because Maryland law hasn’t legalized consumption lounges, but it hasn’t outlawed them either.

One of the most contentious issues in the nascent marijuana cannabis has been the issue of public consumption. While dozens of states now have recreational and medical cannabis programs, consuming the drug in public is strictly forbidden in all states, and people are required to consume cannabis in private residences. However, this locks out a large portion of customers known as “cannabis tourists” who travel from states that may not have legal cannabis markets to states that allow recreational cannabis use.

Public consumption lounges were presented as a solution to this issue because they would provide customers with a semipublic place to consume cannabis without exposing passers-by to secondhand smoke.

Customers pay $25 to get into Ceylon House and smoke medical marijuana. Owner Venushki “Venus” Hemachandra notes that the county has put plenty of restrictions on the consumption lounge, such as requirements for air quality. The establishment also isn’t allowed to sell drinks, food or cannabis, but it can rent and sell bongs and other cannabis-related paraphernalia to customers.

Adults in Maryland recently voted in favor of a measure to legalize recreational cannabis, and the state has had a medical marijuana market for close to a decade now. The state is also currently working on policies and rules for a new recreational marijuana program, and we can expect the restrictions on who can use marijuana consumption lounges to loosen over time.

The cannabis measure circulating in the state legislature would allow for the establishment of 15 cannabis-consumption cafes in Maryland. Maryland joins a group of six states that have legalized marijuana consumption lounges for either medical or recreational cannabis users.

Colorado, which is home to one of the largest cannabis markets in the country and attracts plenty of cannabis tourists per year, was among the first states to allow consumption cafes to give cannabis tourists a place to consume cannabis products.

The growing trend of consumption lounges could boost cannabis sales, and that in turn may increase the demand for various products and cultivation equipment such as those made by Advanced Container Technologies Inc. (OTC: ACTX) in a bid to meet the thriving customer base.

NOTE TO INVESTORS: The latest news and updates relating to Advanced Container Technologies Inc. (OTC: ACTX) are available in the company’s newsroom at https://cnw.fm/ACTX

About CNW420

CNW420 spotlights the latest developments in the rapidly evolving cannabis industry through the release of two informative articles each business day. Our 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. Articles are released each business day at 4:20 a.m. and 4:20 p.m. Eastern – our tribute to the time synonymous with cannabis culture. 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 — Swiss Capital to Run Pilot Program of Marijuana Legalization

In an experiment to evaluate the financial and social advantages of controlling marijuana, the Swiss regime has authorized its intentions to end the criminalization of the trade and use of marijuana in Zurich. Beginning this summer, some 2,100 Zurich residents will be allowed to purchase the medicine in predetermined amounts for individual use from drugstores, social clubs and medical facilities throughout the city.

As a requirement for the research carried out in partnership with Zurich University, those participating will respond to survey questions every six months regarding their consumption patterns and health impacts. The experiment’s ultimate goal is to ascertain the circumstances wherein Switzerland’s permission for marijuana use can be consistent with enhancing private and public wellness and safety, according to the leaders of the study.

In the following year, the evidence gathered from the experiment will be made public in bits and pieces. The goal is to gather solid real-world data that will aid in the creation of new marijuana regulations.

This decision was made at a time when other regions of Europe are reviewing their cannabis laws in reaction to broader shifts in worldwide drug laws. In the weeks to come, Germany, the continent’s largest economy, anticipates introducing a bill legalizing cannabis use and sales, making it the first European Union nation to allow for the drug’s widespread commercial sale. The Czech Republic and nearby Luxembourg also recently introduced measures to allow marijuana for adult use. Small quantities of the substance for personal use are not considered illegal in Spain, Italy and Australia.

In 2021, Malta, the smallest EU country, became the first nation in the union to legalize marijuana for personal use and to allow the creation of individual marijuana clubs where users can cultivate and exchange the drug. For the past 10 years, efforts have been made to end the prohibition of the substance in Uruguay, Canada and most recently, Thailand.

Residents of Zurich are welcome to register if they’re willing to participate in the experiment. Participants must be active marijuana users who are of consenting age, do not have any chronic medical issues, and aren’t fully engaged as commercial drivers.

Primary-care surveys indicate that roughly one-third of consenting Swiss citizens have reportedly tried marijuana. Approximately 13,000 citizens of Zurich are frequent users.

In the upcoming months, more investigations are also anticipated in Bern, Thun, Basel, Olten, Geneva, Winterthur and Biel, with support from the public and academic sectors.

While these efforts abroad are ongoing to test the waters of cannabis legalization, several companies in the United States, such as India Globalization Capital Inc. (NYSE American: IGC), are doing their own research aimed at developing a number of formulations that are effective against health conditions such as chronic pain and others.

NOTE TO INVESTORS: The latest news and updates relating to India Globalization Capital Inc. (NYSE American: IGC) are available in the company’s newsroom at https://cnw.fm/IGC

About CNW420

CNW420 spotlights the latest developments in the rapidly evolving cannabis industry through the release of two informative articles each business day. Our 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. Articles are released each business day at 4:20 a.m. and 4:20 p.m. Eastern – our tribute to the time synonymous with cannabis culture. 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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NECANN Vermont Cannabis & Hemp Convention to Increase ROI in the Cannabis Industry

Cannabis entrepreneurs, executives, and marketers are invited to attend the NECANN Vermont Cannabis & Hemp Convention to be held from May 6-7, 2023 at Essex Junction, Burlington, VT.

The fast-paced, energetic nature of cannabis and psychedelic events is prominent. NECANN specializes in creating resource hubs for the fast-expanding cannabis industry. Events where entrepreneurs, educators, businesses, advocates, investors, patients, and consumers can learn, connect, and thrive.

NECANN Vermont Cannabis & Hemp Convention will focus on advanced businesses and products serving the cannabis industry and its agricultural, financial, medicinal, and lifestyle aspects. A great substitute to the generic national canna-convention franchises, NECANN Vermont Cannabis & Hemp Convention is focused on each local market’s opportunities and needs. It is the largest convention focused solely on the Vermont market.

The largest comprehensive cannabis convention will feature local government representatives and global industry leaders from across the region presenting discussions and taking part in panel discussions on the convention stage. This multifaceted convention offers a platform for big cannabis business deals to be simplified while providing attendees an opportunity to learn about the cannabis industry.

Insights into Global Cannabis Industry

NECANN takes a collaborative approach to Vermont Cannabis & Hemp Convention that has resulted in regularly high ROI for exhibitors, attendees, sponsors, and the local cannabis market as a whole, expediting growth for all.

Vermont became the 11th state to legalize adult-use cannabis sales, and the second state to do it through regulation instead of a voter initiative. The legislature took additional steps in 2021 in the form of a bill that stiffens social equity provisions by demanding regulators eliminate or reduce licensing costs for applicants who have been deleteriously impacted by the implementation of cannabis laws.

Burlington has a brand-new cannabis market just waiting to blossom. NECANN is proud to be a part of the expansion of such a magnificent community. NECANN Vermont Cannabis & Hemp Convention will help evolving cannabis markets succeed and grow This much-awaited event is expected to attract the largest number of MMJ, local Hemp, and Cannabis industry specialists in the market.

Attendees will get an opportunity to learn about the cannabis laws, how to get a grower’s permit, what fertilizers and tools are required to grow the best crops, an array of health benefits of cannabis, the massive business opportunities the cannabis industry has to offer, and more.

To learn more, please visit https://cnw.fm/1AAui.

About CannabisNewsWire

CannabisNewsWire (CNW) is an information service that provides (1) access to our news aggregation and syndication servers, (2) CannabisNewsBreaks that summarize corporate news and information, (3) enhanced press release services, (4) social media distribution and optimization services, and (5) a full array of corporate communication solutions. As a multifaceted financial news and content distribution company with an extensive team of contributing journalists and writers, CNW is uniquely positioned to best serve private and public companies that desire to reach a wide audience of investors, consumers, journalists and the general public. CNW has an ever-growing distribution network of more than 5,000 key syndication outlets across the country. By cutting through the overload of information in today’s market, CNW brings its clients unparalleled visibility, recognition and brand awareness. CNW is where news, content and information converge.

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420 with CNW — How Technology Companies Help Cannabis Retailers Access Payment Solutions

Cannabis retail is booming in the United States, and by 2024, it’s predicted that sales will reach an estimate $31.8 billion. This massive growth is partly driven by cannatech businesses that take the lead on technological advancements. One such company is Treez, which enables in-person and online sales while providing dispensaries with a variety of digital payment options that boost customer satisfaction and sales.

The Safe Banking Bill and federal legalization of cannabis are both making little progress in Congress, despite state-level legalization being on the rise. Since banks and most credit card companies are reluctant to be involved with cannabis businesses due to the uncertainty surrounding federal marijuana legalization, many of them are forced to work as cash-only operations.

Cannatech businesses have seemingly stepped up to fill the gap left by the lack of significant financial providers in the marijuana industry. However, many dispensaries are still unfamiliar with the numerous alternatives to cash payments because they are content with the status quo, lack information or are constrained by their own antiquated systems.

A business faces many difficulties when it is a cash-only operation in terms of security, effectiveness, convenience and flexible channels of sale. By integrating payment technologies into their operations, dispensaries can lower cash payments by up to 30%, reducing the financial risks of theft and creating more time for employee-customer interaction.

Payment technologies not only enable more effective and safer transactions but also ease of operation and convenience, both of which have the potential to boost sales and, in some instances, double the average sale value. Cashless transactions make online ordering easier, which results in higher sales.

The most popular types of cash substitute payments available today are debit cards, cashless ATM transactions and ACH direct deposits.

Recently, however, ATM transactions faced outages because of the operation on the gap that allowed dispensaries to process transactions by mistaking ATM withdrawals as originating from a nearby location.

The crackdown prompted retailers to look into alternatives such as those provided by TreezPay, the first marijuana payment-processing solution to provide several digital payment options. According to the company, TreezPay’s cashless transaction options enable retailers to increase their monthly sales by more than 25%.

Treez obtained Swifter in 2022, an API transaction platform designed to deliver the particular requirements of the marijuana industry, in a bid to continue providing payment solutions. Swifter improves digital transactions by offering integrated, partner-powered services that increase stability, transparency and processing rates.

The API platform concentrates on integrating with as many other cutting-edge solutions as possible, such as mobile QR and cryptocurrency, while also providing a wide range of cannabis-focused solutions. This gives each dispensary the freedom to explore its options and create the software environment best suited to its requirements.

Ultimately, the industry isn’t expecting any financial-related legislation to support it anytime soon, according to cannatech companies. Thus, tech companies are proactively supplying sophisticated payment solutions that aid dispensaries in acquiring more clients, boosting sales, delivering superior customer service and managing significantly less cash.

As these payment-processing alternatives become widespread within the cannabis industry, it could have a beneficial ripple effect that may see ancillary enterprises such as Advanced Container Technologies Inc. (OTC: ACTX) gain additional traction as demand for marijuana products increases and subsequently supply ramps up in different markets.

NOTE TO INVESTORS: The latest news and updates relating to Advanced Container Technologies Inc. (OTC: ACTX) are available in the company’s newsroom at https://cnw.fm/ACTX

About CNW420

CNW420 spotlights the latest developments in the rapidly evolving cannabis industry through the release of two informative articles each business day. Our 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. Articles are released each business day at 4:20 a.m. and 4:20 p.m. Eastern – our tribute to the time synonymous with cannabis culture. 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.

To receive instant SMS alerts, text CANNABIS to 21000 (U.S. Mobile Phones Only)

For more information please visit https://www.CNW420.com

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420 with CNW — Can Tenants Smoke Marijuana Within Rental Properties?

Twenty-one states now allow their residents to purchase, possess and consume recreational cannabis while 37 states have medical marijuana programs. Millions of people now have access to cannabis for either medical or recreational purposes, but both state and federal laws prevent public consumption of marijuana. As a result, most people consume cannabis at home.

States laws that decriminalized cannabis allowed people to possess, grow and smoke cannabis in private residences including rental properties. While this isn’t a big issue for products such as edibles, extracts and creams, smoking at home can be a contentious issue, especially for people who are renting their homes.

As more states have legalized private cannabis consumption, there has been an increase in complaints from neighbors and landlords about tenants smoking at home.

In January, a 76-year-old Washington, DC, resident sued the District of Columbia over the smell of cannabis regularly wafting into her home. However, she may not have any legal recourse as private cannabis smoking is allowed by Washington, DC, state law.

If a landlord discovers that a tenant is smoking cannabis, they cannot terminate their lease based on that fact alone if they did not explicitly ban smoking in the rental agreement. On the other hand, a tenant cannot smoke cannabis in their home if their rental agreement stated that smoking on the property wasn’t allowed. If such a tenant smokes cannabis indoors, their actions will constitute a breach of contract, and their landlord will have a solid legal basis to terminate the lease.

The landlord will first be required to provide the tenant with three consecutive written warnings instructing them to stop smoking. After the third warning is issued, the landlord can cancel the lease agreement and give their tenant notice to vacate.

If you smoke cannabis or plan to smoke in the future, make sure your landlord has not included provisions banning indoor smoking in the rent agreement.

Additionally, note that even if your home is deemed a smoking unit, you will be required to prevent your smoking from damaging the home. You may also have to pay for any damage to the property caused by smoking to restore it to its condition before you moved in. This damage includes discolored walls or carpets that smell of marijuana and will need repainting and carpet cleaning or replacing to mitigate.

To keep yourself protected, make sure you review your rent agreement carefully and opt for a unit that allows smoking. Furthermore, you will want to take steps and prevent your smoking from damaging the home to reduce your costs when your lease elapses.

For patients who look to marijuana for therapeutic purposes, a less contentious option could soon be available if entities such as India Globalization Capital Inc. (NYSE American: IGC) succeed in getting FDA approval and commercializing formulations targeting different health complications.

NOTE TO INVESTORS: The latest news and updates relating to India Globalization Capital Inc. (NYSE American: IGC) are available in the company’s newsroom at https://cnw.fm/IGC

About CNW420

CNW420 spotlights the latest developments in the rapidly evolving cannabis industry through the release of two informative articles each business day. Our 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. Articles are released each business day at 4:20 a.m. and 4:20 p.m. Eastern – our tribute to the time synonymous with cannabis culture. 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.

To receive instant SMS alerts, text CANNABIS to 21000 (U.S. Mobile Phones Only)

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Please see full terms of use and disclaimers on the CannabisNewsWire website applicable to all content provided by CNW420, wherever published or re-published: http://CNW.fm/Disclaimer

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420 with CNW — Why It’s Still Hard for Medicare to Cover Medical Cannabis

Even though many seniors use medical cannabis to treat a range of conditions, experts say it may take some time before Medicare begins to pay for the drug because of conflicting legal requirements, ambiguous safety standards and challenging rulemaking procedures. According to a survey conducted last year by the Medicare Plans Resource Center, an association that offers advice and information on Medicare, one in every five Medicare patients uses medical cannabis.

Furthermore, almost 25% have previously used it, and two-thirds of Medicare beneficiaries believe that the program ought to cover it. However, Medicare doesn’t, since medical cannabis is not legal in all states and has not received FDA approval. According to a study that was published in the Cannabinoid and Cannabis Research journal in April last year, 60% of patients who purchased medical cannabis were 50 years of age or older.

Patients often pay up to $20 per gram for cannabis plant buds and $5 per dose for edibles. This amounts to about $567 and $142 per ounce, respectively, a price most patients, even in states where medical cannabis is legal, cannot afford.

Why, then, does Medicare still not cover medical marijuana?

Medicare coverage for medical marijuana is obstructed by two major problems. For starters, the DEA classifies cannabis as a Schedule I drug, meaning it has a high potential for abuse and no currently accepted medical use.

Second, for a drug to be covered by Medicare, it must receive FDA clearance for both safety and efficacy. The FDA has authorized the sale of one marijuana-derived product and three synthetic marijuana-related products for prescription use, but it has not authorized the marketing of marijuana for medical use. Considering that medical marijuana is legal in 37 states, could private insurers that provide Medicare Advantage cover it?

That’s unlikely, according to Marijuana Moment senior editor and reporter Kyle Jaeger. Most health insurers will refuse to cover marijuana as long as it is still classified as a schedule I drug, similar to banking institutions that have been hesitant to provide financial services to cannabis businesses.

Additionally, private insurers look to the FDA for directions on which medications to cover. Insurers need data to show that cannabis-based treatments have outcomes that are comparable to, if not superior to, those of the currently available options that they cover. However, this is made difficult due to the open-market dispensary system, where patients are allowed to purchase any product.

The system will need to be altered for it to be effective; patients cannot simply buy anything they want and expect insurance companies to cover it.

The contradictions between state cannabis laws and regulations at the federal level are in some way holding back the growth of the cannabis industry together with the affiliated industries that support the marijuana industry. For example, one can only guess at what the growth trajectory of entities such as Advanced Container Technologies Inc. (OTC: ACTX) would have been had marijuana been legal federally.

NOTE TO INVESTORS: The latest news and updates relating to Advanced Container Technologies Inc. (OTC: ACTX) are available in the company’s newsroom at https://cnw.fm/ACTX

About CNW420

CNW420 spotlights the latest developments in the rapidly evolving cannabis industry through the release of two informative articles each business day. Our 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. Articles are released each business day at 4:20 a.m. and 4:20 p.m. Eastern – our tribute to the time synonymous with cannabis culture. 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.

To receive instant SMS alerts, text CANNABIS to 21000 (U.S. Mobile Phones Only)

For more information please visit https://www.CNW420.com

Please see full terms of use and disclaimers on the CannabisNewsWire website applicable to all content provided by CNW420, wherever published or re-published: http://CNW.fm/Disclaimer

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420 with CNW — Study Finds Link Between Medical Cannabis Legalization, Reductions in Payments for Opioids

Dozens of states now allow their residents to use medical cannabis to alleviate more than 20 qualifying medical conditions. Although the research on cannabis is still relatively new, there is strong proof that cannabis-based treatments can alleviate the symptoms of a wide variety of medical conditions.

As a result, millions of Americans across the country now use medical cannabis to treat conditions such as chronic pain, insomnia, anxiety disorders and others. One of the most common uses of medical cannabis is to treat chronic pain, a condition that is estimated to affect an estimated 50.2 million adults in America.

With more and more people turning to cannabis to alleviate their medical conditions, researchers have noted that they are using fewer pharmaceutical opioids. In a new study from the University of Southern California, Purdue University and the University of Florida, researchers said that there has been a significant reduction in direct payments from opioid producers to physicians.

The researchers found that clinicians in states with medical marijuana programs are prescribing fewer opioids to their patients. They used a new “penalized synthetic control model” to review transaction data on direct payments to physicians from opioid manufacturers between 2014 to 2017. Their aim was to determine if there was a causal relationship between the launch of medical marijuana markets and reductions in payments for opioids.

They found evidence indicating that the presence of medical marijuana as an alternative treatment contributed to the reduced payments to opioid manufacturers. Female clinicians and areas with less affluent and higher concentrations of white, working-age populations saw a higher substitution effect. Opioids have been integral in the treatment of pain for decades, and tens of millions of people across the world have used them to manage pain disorders.

Direct payments to physicians help manufacturers to spread their reach and access more customers for their products. However, opioids aren’t always effective, and they have a significant risk of causing side effects such as nausea, constipation and respiratory depression. They can also lead to physical dependence and contribute to the development of opioid use disorder, which affects more than 15 million people globally and causes more than 120,000 deaths across the world annually.

As a result, plenty of chronic pain patients have adopted cannabis as an alternative treatment in place of conventional pharmaceuticals. This study adds to a growing body of literature indicating that more patients are choosing medical cannabis over opioids to manage chronic pain.

Given that chronic pain is a major affliction in the United States and around the world, enterprises such as India Globalization Capital Inc. (NYSE American: IGC) are focused on coming up with cannabis-based therapeutic formulations, which can be approved by the FDA for use against this clinical indication that often compromises the quality of life of the people diagnosed with it.

NOTE TO INVESTORS: The latest news and updates relating to India Globalization Capital Inc. (NYSE American: IGC) are available in the company’s newsroom at https://cnw.fm/IGC

About CNW420

CNW420 spotlights the latest developments in the rapidly evolving cannabis industry through the release of two informative articles each business day. Our 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. Articles are released each business day at 4:20 a.m. and 4:20 p.m. Eastern – our tribute to the time synonymous with cannabis culture. 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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CannabisNewsWire420
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420 with CNW — Studies Link Cannabis Legalization to Various Public Health Benefits

With medical marijuana legalized in 36 states and recreationally approved in 18, worries about the effects of widespread societal access to cannabis have become the driving force behind a majority of scientific research. A large portion of that scientific research has now been compiled in a meta-analysis of 36 papers released between 2013 and 2021. These studies show how legalizing cannabis has had a positive impact on society in significant ways.

Researchers who studied the societal effects of legalizing marijuana discovered that it reduced rates of teen cannabis use, binge drinking, suicide and traffic fatalities.

One main concern has come from conservative politicians and parents who believe that legalizing would result in a rise in teen marijuana use. This criticism perfectly illustrates the idea advanced by author Jonathan Haidt in his seminal book, “The Righteous Mind.” According to the book, most people form their opinions by first coming to an emotional conclusion, such as teenage cannabis use is bad, and then working backward through ad hoc justification to find whatever intuitive reasoning is required to support their instinct.

It would seem reasonable to assume that cannabis use would increase if it were legal, but this isn’t the case. In actuality, the landmark paper revealed that teenagers’ access to marijuana declined by 8% while teenage use decreased by 9% due to legalization. The cause was thought to be that fewer teenagers were able to access the substance once dispensaries replaced drug dealers; the legal requirement to check a buyer’s ID when purchasing cannabis also likely impacted the numbers.

In another study, it was discovered that legalizing cannabis had a negative impact on opioid overdose deaths from 1999 to 2010, but the effect diminished once the years 2011 to 2017 were taken into account. This was thought to be an indication of how the opioid epidemic has evolved, based on the idea that cannabis and prescription painkillers might be substitutes for opioids, but heroin and cannabis are not.

However, this isn’t the only study to establish a link between the legalization of cannabis and a decline in opioid overdoses. Two additional studies found the same thing, with the second finding a drop from 21% to 16% in 2019 and 2020.

Another study found that legalizing cannabis discourages and reduces the use of alcohol, particularly binge drinking. The decline in alcohol consumption may have also significantly reduced the number of road accidents.

Last but not least, marijuana legalization was also associated with lower rates of male suicide across the nation, with an 11% decrease in those 20 to 29 years of age and a 9% decrease in those 30 to 39 years of age.

As all these benefits are being documented, a strong ancillary industry made up of entities such as Advanced Container Technologies Inc. (OTC: ACTX) is thriving due to the market they have carved out for themselves among marijuana industry actors.

NOTE TO INVESTORS: The latest news and updates relating to Advanced Container Technologies Inc. (OTC: ACTX) are available in the company’s newsroom at https://cnw.fm/ACTX

About CNW420

CNW420 spotlights the latest developments in the rapidly evolving cannabis industry through the release of two informative articles each business day. Our 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. Articles are released each business day at 4:20 a.m. and 4:20 p.m. Eastern – our tribute to the time synonymous with cannabis culture. 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.

To receive instant SMS alerts, text CANNABIS to 21000 (U.S. Mobile Phones Only)

For more information please visit https://www.CNW420.com

Please see full terms of use and disclaimers on the CannabisNewsWire website applicable to all content provided by CNW420, wherever published or re-published: http://CNW.fm/Disclaimer

Do you have questions or are you interested in working with CNW420? Ask our Editor

CannabisNewsWire420
Denver, Colorado
http://www.CNW420.com
303.498.7722 Office
Editor@CannabisNewsWire.com

CNW420 is part of the InvestorBrandNetwork.