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

CannabisNewsBreaks – MJBizCon Partners with Voice of the Plant to Showcase Cannabis Genetics at “The Vault” Pavilion

Cannabis industry leader MJBizCon is putting genetics center stage at its December 2024 Las Vegas convention through a new partnership with Voice of the Plant. The collaboration will feature “The Vault” Pavilion, bringing together renowned breeders and cannabis genetics companies from around the world.

Led by Mario Guzman, creator of the popular Gelato and Sunset Sherbert strains, and Victorine Deych of terpene company Dusted, the pavilion will host industry veterans including Amsterdam’s Sensi Seeds, Barneys Farm, and leading U.S. genetics companies. The initiative aims to refocus attention on cannabis genetics as the foundation of the industry.

“Sometimes in the excitement of big growth and new technologies we overlook that the plant and all of its uniqueness is the core to all of it,” said Sarah Wilson, MJBizCon VP Events.

To view the full press release, visit https://cnw.fm/PzcfG

About MJBiz

MJBiz is the leading B2B resource for the cannabis industry. Founded in 2011, it is the most trusted publisher and event producer serving cannabis industry entrepreneurs and investors from around the globe. MJBiz produces MJBizCon, the longest-running and largest cannabis trade show in the world. The 2015-2019 events were each named to Trade Show Executive’s Fastest 50 list and ranks on the Gold 100 list of largest tradeshows in the U.S. The 2024 event will return to Las Vegas December 4-6, 2024 (Pre-Show Forums December 3). The MJBiz team also produces news and analysis of the marijuana and hemp industries via MJBizDaily, MJBiz Magazine, MJBiz Factbook. For more information about MJBizCon or MJBiz, please visit www.MJBizCon.com and www.MJBizDaily.com.

About CannabisNewsWire

CannabisNewsWire (“CNW”) is a specialized communications platform with a focus on cannabis news and the cannabis sector. It is one of 70+ brands within the Dynamic Brand Portfolio @ IBN that delivers: (1) access to a vast network of wire solutions via InvestorWire to efficiently and effectively reach a myriad of target markets, demographics and diverse industries; (2) article and editorial syndication to 5,000+ outlets; (3) enhanced press release enhancement to ensure maximum impact; (4) social media distribution via IBN to millions of social media followers; and (5) a full array of tailored corporate communications solutions. With broad reach and a seasoned team of contributing journalists and writers, CNW is uniquely positioned to best serve private and public companies that want to reach a wide audience of investors, influencers, consumers, journalists and the general public. By cutting through the overload of information in today’s market, CNW brings its clients unparalleled recognition and brand awareness. CNW is where breaking news, insightful content and actionable information converge.

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420 with CNW — Study Finds That Not Everyone Can Improve Their Sleep by Using Marijuana

A recent study suggests that marijuana’s impact on sleep may differ depending on an individual’s mental health background.

The study, conducted by the University of Southern California’s Keck School of Medicine, revealed that marijuana enhanced sleep for young adults with anxiety or depression. In contrast, those without any pre-existing mental health issues experienced more frequent sleep issues when using marijuana.

The study analyzed data from the university’s Happiness and Health Survey, which tracked the health, emotional well-being, and substance use habits of 3,300 Los Angeles public high school students from 2013 to 2023.

Researchers compared sleep issues in individuals who used marijuana frequently (at least 20 times every month) with those who had never used it. Marijuana use corresponded to an average 1.18-point reduction in sleep problems for those experiencing anxiety or depression. In contrast, participants without anxiety or depression saw their sleep problems increase by an average of 1.66 points when using cannabis compared to non-users.

While the authors said they were unsure why marijuana affects individuals with depression or anxiety differently, they speculated that it’s because THC could temporarily suppress symptoms of depression or anxiety, which symptoms can negatively impact sleep. However, they cautioned that using marijuana this way doesn’t necessarily address the root of these mental health conditions.

Peter Grinspoon, a Harvard Medical School lecturer and physician, offered additional insight noting that marijuana affects the endocannabinoid system, which plays a role in sleep regulation. While scientists have yet to fully understand how marijuana interacts with this system to influence sleep, Grinspoon pointed out that people with pre-existing mental health issues like depression and anxiety may benefit more from marijuana for sleep because they often suffer from insomnia.

The study did not, however, examine marijuana dose or consumption method, which Grinspoon believes are crucial factors. He explained that individuals aiming to use marijuana as a sleep aid often opt for lower doses, as higher doses can be stimulating rather than sedating. He also suggested that some of the existing research may be skewed, as much of it was conducted with a focus on potential harms rather than benefits due to historical biases in marijuana research.

Using cannabis for sleep is not without risks. Like most sleep aids, marijuana can lead to dependence, and individuals may experience withdrawal symptoms when they stop its use. Additionally, researchers warn that marijuana use might reduce time spent in rapid eye movement (REM) sleep, leading to fewer dreams.

As more studies are conducted on which particular people are more likely to benefit from medical marijuana for different symptoms, enterprises like Cronos Group Inc. (NASDAQ: CRON) (TSX: CRON) are likely to tweak their products in order to address the specific needs of their customers.

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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 — The GOP to Be Tested on its Readiness for Marijuana Policy Reform

With recent shifts in political power, many are questioning if a Republican-led government might better support cannabis reform than one led by Democrats. As former President Donald Trump returns to the White House and Republicans take control of the Senate, the $32 billion U.S. cannabis industry stands at a crucial point, uncertain about the future of legalization.

The recent elections delivered three defeats for state-level adult-use cannabis legalization. This shift may signal a transition from state-driven legalization efforts toward a more federal approach in Washington, D.C.

Advocates and lobbyists now face the challenge of uniting and presenting a cohesive message to persuade conservative legislators to support reform on a federal level. David Culver, director of government affairs at the U.S. Marijuana Council, noted that while the results were disappointing, there are still potential opportunities to make progress next year.

While Trump’s support for states’ cannabis legalization and Biden’s marijuana rescheduling initiative offer a glimmer of hope, obstacles remain, especially with conservative resistance.

In contrast to recreational marijuana, medical marijuana initiatives are still gaining ground in some states. For example, Nebraska voters decisively supported medical cannabis, although a pending court case may impact the final outcome.

However, the path for recreational use has not been as favorable. In Florida, voters rejected a highly-funded adult-use measure, supported by the cannabis industry, with the opposition led by GOP Governor Ron DeSantis. Similarly, voters in both North and South Dakota turned down industry-backed proposals for adult-use legalization.

These recent defeats raise critical questions about whether marijuana reform campaigns can return to these states and if the industry will be able to fund future campaigns following such costly setbacks.

The current political landscape suggests that federal reform will become the next major focus for cannabis advocates. Republicans are expected to take control of the White House and perhaps both houses of Congress by January. Marijuana policy will probably be neglected until important decisions are made, such as choosing the next U.S. Attorney General or the DEA chief.

Some cultural concerns have also complicated progress for marijuana reform. According to the co-executive director of the Coalition for Cannabis Policy, Education, and Reform co-executive, Shanita Penny, conservative lawmakers have raised issues about the widespread public use of marijuana in D.C., with some expressing frustration about cannabis smells outdoors. Florida voters also echoed similar concerns, which may have influenced their opposition to the recent ballot measure.

The division within the broader cannabis industry itself is another factor slowing down reform efforts. Disagreements between regulated cannabis businesses and hemp operators continue to muddy the industry’s message. A debate has emerged over the “Farm Bill loophole,” which some cannabis advocates wish to close to restrict certain hemp-derived THC products.

Firms like Cresco Labs Inc. (CSE: CL) (OTCQX: CRLBF) will be watching to see how the changes on Capitol Hill impact the rate at which marijuana policy changes are introduced, discussed and possibly implemented.

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420 with CNW — Researcher Files Lawsuit to Block Marijuana Rescheduling Hearing

David Heldreth, CEO and founder of Panacea Plant Sciences, has filed a federal court lawsuit, claiming the DEA breached several legal protocols in preparing for a hearing on the Biden administration’s proposal to reclassify marijuana. The suit urges the court to issue an injunction halting the DEA’s scheduled hearing until these legal concerns are addressed.

Heldreth’s complaint argues that the DEA has not complied with important legal requirements related to administrative procedures and federal consultation obligations. At the core of his argument is the agency’s decision to hold a hearing on moving marijuana from Schedule 1 to 3 of the CSA, which he contends lacks necessary adherence to federal guidelines.

The initial hearing is slated for Dec. 2, following a period of public comment that ended several months ago. While numerous groups requested participation in the hearing, DEA director Anne Milgram selected only 25, excluding Panacea. Heldreth claims that this exclusion was unwarranted and appears to be a retaliatory move by the DEA. He argues that Panacea’s prior opposition to the DEA’s regulatory moves on psychedelic substances may have led to this exclusion, framing it as a response to the company’s stance on various drug policy issues.

In his legal filing, Heldreth highlights four primary grounds for requesting a stay on the DEA’s proceedings. One key argument is that the DEA failed to follow a 1990s executive order mandating federal agencies to consult with tribal organizations when developing policies or regulations that could impact their interests.

Additionally, he claims that the agency did not comply with the Regulatory Flexibility Act and the Small Business Regulatory Enforcement Fairness Act, which require that the impact on small businesses be considered in federal rulemaking.

The complaint seeks a court order blocking any further proceedings or scheduling actions on cannabis until the case is fully reviewed. It requests that all deadlines and hearings within the DEA’s administrative process be suspended while the legal issues in question are resolved.

While the initial hearing remains slated for December, John Mulrooney, the DEA’s Chief Administrative Law Judge, issued an order indicating that the DEA’s current witness list lacks sufficient detail. The judge has asked the agency for additional information on the witnesses and possible dates for a formal hearing early next year, potentially in January or February.

The DEA has hinted that further information may be needed on several aspects of the scientific review that informed the decision to recommend reclassifying marijuana. The agency’s recent actions have sparked speculation among some observers who interpret this as a sign of hesitation or skepticism regarding the rescheduling proposal.

Entities like Aurora Cannabis Inc. (NASDAQ: ACB) (TSX: ACB) within the marijuana industry will be following how this lawsuit plays out and the subsequent steps in the rescheduling process since a lot is riding on this expected change to federal marijuana policy.

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420 with CNW — Florida Measure to Legalize Recreational Marijuana Fails to Garner Supermajority

A ballot initiative to legalize marijuana for recreational use in Florida failed Tuesday, receiving 55.9% of the vote but falling short of the 60% threshold needed to amend the constitution.

The initiative, known as Amendment 3, sought to allow adults over 21 to purchase cannabis for adult use from already-existing medicinal dispensaries, with the potential to extend to other retailers if the Legislature approved.

The primary financial backing for Amendment 3 came from Trulieve Cannabis Corp. (CSE: TRUL) (OTCQX: TCNNF), Florida’s leading medical cannabis company, which contributed approximately $145 million to the campaign. This made up the great majority of the campaign’s $153 million budget as of October.

However, opposition was strong, with Governor Ron DeSantis and the Florida Republican Party voicing concerns. DeSantis argued that legalization would have a detrimental effect on people’s quality of life, including worries about possible marijuana-related odors.

In South Dakota and North Dakota, similar efforts to legalize recreational cannabis were also underway but did not gain enough support. The two states have now voted on recreational cannabis measures three times, with each attempt failing to pass.

Meanwhile, Nebraska voters took a different direction, approving two measures—Initiative Measures 438 and 437—to permit and regulate medical cannabis. Measure 437 passed with 70.7% support and allows individuals with a healthcare provider’s recommendation to use and possess up to five ounces of medical cannabis.

Measure 438, garnering 66.9% support, establishes a regulatory framework for the medical cannabis industry in Nebraska, including the creation of the Nebraska Medical Marijuana Commission. The measure authorizes registered private entities to manufacture, distribute, and dispense medical cannabis.

As of the time of the 2024 elections, recreational marijuana had been legalized in 24 states and D.C., covering about 53% of the U.S. population. Additionally, 38 states and D.C. had laws permitting medical cannabis use. Despite these state-level policies, cannabis remains illegal at the federal level, where possession and sales are still subject to legal penalties, including fines and prison time.

Other states had a range of measures on their ballots that went beyond cannabis legislation. Some states passed amendments to prohibit non-U.S. citizens from voting, and Arizona passed a measure allowing local law enforcement to implement immigration laws. Various other proposals addressed taxes, wages, and educational policies. For example, school choice initiatives were considered but ultimately failed in Nebraska and Kentucky.

Many of the measures were brought to the public through citizen petitions, bypassing state legislatures, while others were introduced by legislators.

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420 with CNW — German Marijuana Club Hands Out Legal Cannabis as Pilot Program Kicks Off

Germany recently saw its first cannabis social club—Social Club Ganderkesee—announce the distribution of cannabis to its members, marking a new milestone in the country’s journey toward regulated marijuana access. The nation legalized the possession and personal cultivation of marijuana for adults in April. However, until recently, there were limited legal means for acquiring the substance.

Social Club Ganderkesee started growing cannabis in July after receiving a permit from Lower Saxony’s Agriculture Minister, Miriam Staudte. According to Daniel Keune, the club’s chairman, the membership represents a broad demographic, ranging from 18 to 70 years old. Each social club is restricted to 500 members, and each member can purchase up to 50 grams of cannabis per month.

Lawmaker Carmen Wegge of the Social Democratic Party (SPD) emphasized the importance of the clubs in assisting in the reduction of the illicit marijuana market. She noted that the clubs offer a valuable option for people who may not want to grow cannabis on their own.

Meanwhile, cities like Frankfurt and Hanover are advancing separate pilot programs aimed at widening access to cannabis in controlled ways over the next five years. Frankfurt’s program would enable controlled commercial sales of cannabis to a group of selected participants. The initiative would allow individuals to buy up to 25 grams daily, with a cap of 50 grams per month, from four authorized shops throughout the city.

Participants would need to commit to health monitoring through evaluations and surveys conducted by medical professionals. However, people with certain conditions—such as mental health issues, those who are pregnant or breastfeeding, and minors—would not be eligible for the program. The program aims to offer legal cannabis at competitive prices, ideally to reduce reliance on the black market, where prices often range from €8 to €10 ($8.59-$10.74).

Meanwhile, Hanover’s program would avail cannabis through pharmacies for around 4,000 residents. Belit Onay, Hanover’s Mayor, stated that the project is intended to address the reality of marijuana use in the community while mitigating the risks associated with illegal markets. Marijuana is expected to be available under this program by next year.

Germany’s cannabis reform is expected to unfold in two phases. The initial phase involves personal possession, cultivation, and the establishment of social clubs. The second phase, which is still in development, is expected to introduce a comprehensive commercial cannabis sales model.

Karl Lauterbach, the Health Minister and a key advocate for legalization, has indicated that the government is carefully considering the second part of the law. As legalization progresses, there is growing public and political pressure to accelerate the timeline for broader commercial access.

Companies like Tilray Brands Inc. (NASDAQ: TLRY) (TSX: TLRY) with an eye on expanding their international footprint are likely to monitor the developments in Germany to see if any opportunities open up.

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420 with CNW — New Study Says Approximately 6% of Pregnant Women Use Cannabis

Six percent of women reported using cannabis while pregnant, according to a recent study, despite studies indicating that using cannabis during pregnancy can be harmful to both the fetus and the expectant mother.

Researchers from the University of Georgia found this concerning as it suggests more than one in every 20 pregnancies may be affected by marijuana use. Most women surveyed seemed to perceive cannabis as a harmless remedy and have turned to it to manage symptoms like morning sickness.

According to the study’s lead author, Mohammad Haider, using cannabis for nausea during pregnancy is risky. He emphasized that this isn’t a safe solution for expectant mothers. The study analyzed data from federal surveys of 4,338 expectant women. Of those surveyed, around 5.7% reported using marijuana in the previous month.

The findings indicated that marijuana use among pregnant women is highest during the first trimester and declines as pregnancy advances, likely suggesting its use as a response to early pregnancy nausea. Interestingly, a large portion of these women—around 71%—believed that their marijuana use posed little or no risk to themselves or their babies. However, previous research has linked cannabis use in pregnancy to premature delivery, low weight at birth, and developmental issues in children.

The study also pointed out that two-thirds of the pregnant women who reported using marijuana lived in one of the states where medical cannabis is legal. Haider noted that the accessibility of marijuana in these states could unintentionally contribute to its use during pregnancy.

He explained that when medical cannabis is legally available in pharmacies, it becomes more accessible, which may lead pregnant women to use it without fully understanding the potential dangers. He suggested that states with legal access to medical cannabis should implement policies that educate pregnant women on the possible negative effects of cannabis use during pregnancy.

Haider and his research team noted that safer, prescribed medications are available to alleviate morning sickness. They recommended that women consult their healthcare providers to explore alternatives before considering cannabis. Additionally, Haider highlighted that women with a history of mental health issues or substance use may be more likely to turn to cannabis while pregnant, putting them and their babies at further risk.

“This is a vulnerable group,” Haider stated, “and research shows that cannabis use during pregnancy can be harmful to both child and mother.” He added that more state-level policies are needed to guide and inform women about the potential risks associated with marijuana use during pregnancy.

As pressure mounts to make even more federal regulatory changes to marijuana policies, industry actors like TerrAscend Corp. (TSX: TSND) (OTCQX: TSNDF) will find it easier to conduct studies geared at giving patients more targeted information about how best to benefit from their products while keeping risks minimal.

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420 with CNW — Recreational Marijuana Measure Attracts Heavy Funding on Both Sides in South Dakota

The financial race surrounding the recreational marijuana legalization initiative in South Dakota was highly competitive, with both opponents and supporters gathering nearly equal resources. This set the scene for an intense debate while voters prepared for the November 5 ballot. Both sides have collectively raised around $915,000, showcasing the deeply split opinions across the state on the matter.

Advocates for Initiated Measure 29, which aims to legalize the use and sale of cannabis for those aged 21 and over, have secured about $458,000 in funding. The main group pushing for the measure, known as the Yes on 29 Ballot Committee, has raised $436,000, with $300,000 contributed by cannabis-related businesses. The largest single donation was $100,000 from GL Partners, a Rapid City-based medical cannabis dispensary.

On the opposing front, the Protecting SD Kids Ballot Question Committee accumulated about $457,000. A large share of this funding came from individual contributions, including a notable $61,400 donation by Brad Wheeler, a local manufacturer. Additionally, businesses within South Dakota collectively contributed $71,000 to the opposition’s campaign.

The significant financial backing on both sides highlights the importance of Initiated Measure 29, one of seven ballot measures voters will decide on this November. So far, the Yes on 29 campaign has spent approximately $217,000 on its advocacy efforts, while the opposition has spent a more substantial $371,000 on initiatives to prevent the measure’s approval.

The financial records show an ongoing trend where the marijuana industry heavily invests in efforts to support legalization measures across the country. Meanwhile, those against such measures often rely on local businesses and grassroots donations to bolster their campaigns.

As election day neared, the close fundraising figures signal a tight race. Both sides stepped up their campaigns to influence voters, aware of the potential long-term effects on South Dakota’s cannabis policy.

Neighboring states also contribute to the broader conversation about cannabis reform. Montana, for instance, has already seen more than $118 million in tax revenue from its legalized marijuana market over two years. North Dakota, looking at similar economic incentives, is proposing Measure 5, which promises job creation and financial gains. In contrast, Nebraska stands apart, lacking any legalization measures and emphasizing the varied regional perspectives on cannabis policy.

Without any restrictions on donation amounts, South Dakota’s campaign on this issue represents a significant and contentious vote, making November 5 a pivotal day for the state’s future approach to cannabis regulation.

Businesses like Innovative Industrial Properties Inc. (NYSE: IIPR) with interests in the cannabis space in other markets will be hoping that the will of the people wins the day once vote counting is completed.

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420 with CNW — Gallup Survey Finds US Bipartisan Majority Support for Cannabis Legalization Stable

Support for legalizing cannabis is showing consistent strength across the United States, according to a recent survey by Gallup. The findings highlight that a significant majority of Americans, regardless of political affiliation, continue to endorse marijuana reform.

The survey revealed a slight dip in support compared to last year’s figures, but the change falls within the margin of error and is not considered statistically significant, according to a Gallup representative. As voters head into elections where cannabis reform will appear on various state ballots, the poll indicates that 68% are in favor of legalization, while 31% remain opposed.

Breaking down the numbers by political groups, 85% of Democrats, 69% of Independents and 53% of Republicans support legalization. The survey also showed strong support across different age groups, with approval ranging from 74% among 18- to 29-year-olds to 56% among those 65 and over.

The 68% overall approval rate for cannabis legalization is a slight decrease from last year’s record-high 70%. Between 2020 and 2022, the level of support remained steady at 68%. The recent poll was conducted from October 1 to October 12 and involved 1,023 respondents, carrying a margin of error of ±4 percentage points.

In another survey released in August, Gallup found that the public perceives cannabis as less dangerous compared to substances like alcohol, vapes, and tobacco. It was also noted that more adults reported smoking cannabis compared to cigarettes.

Moreover, a 2020 poll highlighted that 70% of Americans consider smoking marijuana to be morally acceptable, a higher rate than for issues such as animal testing, gay relationships, and abortion.

In a separate set of polls conducted by YouGov in August, there was substantial support among likely voters in key swing states—Wisconsin, Michigan, and Pennsylvania—for various aspects of cannabis reform, including federal rescheduling, legalization, and access to banking services for the industry.

The strong and consistent support for cannabis reform has not gone unnoticed by presidential candidates. Both major presidential candidates—Kamala Harris and Donald Trump—have publicly supported legalization—a first in U.S. history.

Recent surveys show that a majority of marijuana users plan to vote for Kamala Harris, although around 40% have indicated they will support Trump. Harris recently stated that legalizing marijuana is a top priority on her agenda if she wins, reinforcing her previous commitment to pushing for federal legalization and ensuring legal access to cannabis.

Trump, meanwhile, has also shown support for cannabis initiatives, endorsing Florida’s ballot proposal to legalize cannabis and expressing approval for federal rescheduling and banking reform efforts.

Firms like Curaleaf Holdings Inc. (CSE: CURA) (OTCQX: CURLF) are probably not surprised by the data on the big fraction of Americans who support marijuana legalization since this same process played out across the border in Canada, resulting in a country-wide policy change.

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420 with CNW — Fighters in Nevada Are No Longer Prohibited from Using Marijuana

The Nevada State Athletic Commission (NSAC) recently removed marijuana from its list of prohibited substances. This change means that fighters in the state who possess, use, or consume marijuana products will no longer face penalties for violating anti-doping rules.

For years, cannabis was classified as a banned substance, and fighters were often penalized if it was detected in their system. UFC fighters such as Trevin Jones, for example, have seen their victories overturned, changing their records to no-contests due to positive tests for marijuana.

Additionally, in 2015 popular fighter Nick Diaz received a severe penalty for marijuana use: a five-year suspension and a fine of $165,000. The NSAC explained that the severe punishment was due to Diaz’s perceived disregard for the commission’s rules, not solely for the marijuana use itself.

Many fans saw this penalty as excessive, especially since Diaz was at the peak of his career following a high-profile match against Anderson Silva. The suspension effectively sidelined him for six years, frustrating fans who believed he was unfairly targeted over a minor infraction.

Now, at age 41, Diaz continues to fight, though many fans feel he should retire due to his health and age. Cannabis, however, is no longer a barrier to his participation, as it is now fully permitted for MMA fighters in the state.

The policy shift is particularly relevant in Las Vegas, where the majority of UFC events are hosted, including Diaz’s forthcoming match at UFC 310 against Vicente Luque. Fighters beyond the Diaz brothers have also been open about their cannabis use, often citing its therapeutic benefits for managing pain and physical strain caused by their demanding sport.

There are still steps ahead before the policy is officially enacted, as the revised guidelines need another review by the state’s Legislative Counsel Bureau (LCB) to confirm they meet legal standards. After this, the state legislative commission, composed of six assembly members and six senators, will review the proposal and decide on its official adoption.

Other professional sports organizations at various levels have been reevaluating and updating their policies regarding marijuana in response to broader legalization efforts at the state level. For instance, the NCAA recently removed cannabis from its list of banned substances for Division I athletes.

Similarly, the UFC announced in December that it would formally remove cannabis from its updated list of banned substances, building upon previous reforms in this area.

The easing of restrictions against the use of marijuana by fighters and other athletes is a development that the wider marijuana industry, including entities like Cronos Group Inc. (NASDAQ: CRON) (TSX: CRON), will be pleased about.

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