Efforts to launch an equitable recreational cannabis industry in New York hit another roadblock after a state Supreme Court judge ruled that the licensing process violated state law. The most recent state Supreme Court ruling has now deemed the licensing process for social equity applicants unconstitutional and banned the state Office of Cannabis Management from providing any new retail recreational cannabis licenses until Aug. 25, 2023, when there will be further arguments on the matter.

Like other states with recreational cannabis markets, New York sought to launch an industry that provided equitable access to victims of the failed drug war via social-equity processes such as getting the first crack at the state’s first batch of adult-use cannabis retail licenses. However, a group of disabled veterans looking to enter the nascent cannabis market challenged the preferential licensing process for social-equity applicants in a state Supreme Court lawsuit.

The veterans argued that the Office of Cannabis Management violated state law by only allowing individuals with cannabis-related offenses and their immediate family members to apply for cannabis licenses rather than opening the application process to everyone. This lawsuit came months after multistate cannabis operators with medical marijuana licenses sued New York regulators for shutting them out of the recreational cannabis industry.

Although the ruling by Supreme Court Judge Kevin Bryant will not apply to individuals who had met the licensing conditions before Aug. 7, 2023, it will likely impact the hundreds of business owners looking to apply for Conditional Adult Use Retail Dispensary (CAURD) licenses.

CAURD permits are the only existing licenses for legal recreational cannabis sales in New York, meaning cutting access to these licenses essentially prevents entrepreneurs from entering the cannabis industry.

State regulators may have had their hearts in the right place in terms of social equity when they implemented the selective licensing program, but it has had major repercussions for the state adult-use cannabis market. According to the lawsuit filed by the disabled veterans, the New York Office of Cannabis Management has failed in its mandate to create the marijuana market “envisioned by the Marihuana Regulation and Taxation Act (MRTA),” particularly by preventing disabled military veterans and other minorities from access cannabis licenses.

The suit argued that every day that New York’s recreational cannabis program was limited to CAURD program participants impacted priority groups included in the MRTA as well as New York State farmers.

A spokesperson from the OCM said the agency will appeal the recent state Supreme Court ruling.

If these hiccups to the full launch of the recreational marijuana market in New York State continue, many opportunities are likely to be lost by entrepreneurs, such as those operating ancillary businesses similar to Advanced Container Technologies Inc. (OTC: ACTX).

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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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State cannabis regulators are informing congressional legislators that, in addition to providing the FDA with more regulatory power, their investigation into the absence of federal regulations for CBD products derived from hemp must consider other cannabinoids that are becoming more widely available, such as delta-8 tetrahydrocannabinol.

Last Friday, the Cannabis Regulators Association (CANNRA) sent lawmakers a letter with proposals for developing a framework for all hemp-derived cannabinoids in reply to a request for expert advice on CBD laws from major Senate and House committees. The group members’ combined experience managing state cannabis initiatives served as the basis for the application.

While CBD has received a lot of attention, all derivatives other than delta-9 tetrahydrocannabinol, including psychoactive substances such as THC-O-acetate and delta-8 tetrahydrocannabinol, were also widely deregulated when hemp was legalized federally under the 2018 Farm Bill. CANNRA argued that Congress renamed marijuana as hemp and effectively legalized it on a federal level, with no restrictions on products.

Although the DEA has stated that it views cannabinoids as illegal if they are synthesized, which is typical for delta-8 tetrahydrocannabinol, the demand for these products has grown with little enforcement. Numerous states have acted on their own to outlaw or regulate them.

The FDA has been under fire from a number of legislators and hemp stakeholders for not enacting CBD regulations, but CANNRA stated that it concurs with the FDA that it does not currently have the jurisdiction to create the kind of complete framework required for a market this complicated. According to the regulators, the FDA requires precise authority and brief timeframes for issuing regulations.

Furthermore, the association recommended that the FDA work in tandem with tribes, territories and states to ensure that regulations are not created in isolation. And states ought to have the authority to pass laws that go above and beyond federal minimum requirements to better safeguard their citizens and businesses, even though federal regulations are crucial.

The letter also offers thorough answers to some 24 specific queries outlined by the committees on the matter. These questions covered a wide range of topics, from the state of the CBD market today to the difficulties associated with the lack of regulations to the specifications for labeling and packaging.

CANNRA is not the only group that has replied to the request for information. The United States Hemp Roundtable also addressed the panel’s inquiries in a letter. In contrast to CANNRA, the group contended that Congress ought to order the FDA to act, disputing its claim that it lacks the appropriate power to create a cannabinoids regulatory framework.

The ATACH also replied with a letter stating that, although the FDA ought to regulate CBD, unregulated synthetic hemp intoxicants are the real issue. The group argued that the TTB, not the FDA, ought to regulate these goods.

Cornbread Hemp, a CBD company based in Kentucky, also gave the committees its take on the matter. In its view, the absence of FDA regulations has created a fragmented collection of state regulations that adversely affect businesses and perplex consumers.

As these anticipated regulations are codified, the market for the products commercialized by enterprises such as Advanced Container Technologies Inc. (OTC: ACTX) is likely to expand as more entities increase their cannabis production.

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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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The German government approved a preliminary statute, marking a significant step toward legalizing recreational cannabis. Under the upcoming legislation, adults would be permitted to own a maximum of 25 grams (approximately 0.9 ounces) of marijuana and cultivate up to three plants for personal use. Moreover, they could participate in not-for-profit “marijuana clubs,” comprising up to 500 members, where the legal growth and purchase of the substance would be permissible.

The bill’s journey to becoming law is not yet complete. The legislation must be approved by German parliamentarians who are slated to reconvene on Sept. 4, 2023, after their summer recess.

Karl Lauterbach, the country’s health minister, hailed the draft legislation as a pivotal moment in Germany’s stance on marijuana. According to him, the more lenient approach holds the potential to combat the illicit market and drug-linked offenses. Moreover, it could alleviate the pressure on law-enforcement agencies and encourage safer cannabis consumption.

While this shift appears to endorse a more permissive attitude, minors would still be barred from cannabis use, with a planned government campaign alerting young people to the associated health hazards.

The new legislation, a centerpiece of Chancellor Olaf Scholz’s coalition, marks a departure from one of Europe’s most liberal marijuana policies. Nevertheless, the current draft has undergone modifications from its original, more ambitious, form. Notably, plans to permit the widespread commercial sale of cannabis through licensed outlets were jettisoned in April due to reservations raised by the European Commission.

Despite these changes, the draft law has faced formidable opposition from conservative politicians, medical professionals and law-enforcement representatives. A notable detractor is Klaus Holetschek, Bavaria’s regional health minister from the CDU party, who has branded the proposals as reckless. He argues that past examples from other nations reveal that liberalization does little to suppress the illegal market.

The German Professional Association of Pediatricians, in conjunction with other youth healthcare groups, has also criticized the plans for potentially encouraging cannabis use among young individuals. In addition, the law-enforcement community, including judges and police unions, has voiced concerns, characterizing the legislation as overly bureaucratic. They fear that the law could exacerbate the situation rather than alleviate burdens on the judicial system.

However, Lauterbach welcomes the controversial discourse initiated by the proposals, although he contends that critics fail to offer viable alternatives. Lauterbach staunchly advocates for a decriminalization approach, coupled with stringent restrictions and comprehensive education on the perils of cannabis consumption. To further regulate the use of cannabis, the legislation designates a 200-meter exclusion zone around cannabis clubs, sports facilities, playgrounds, youth organizations and schools.

If the bill garners approval, the government plans to assess its societal impact after a span of four years.

This initiative aligns with a global trend, as multiple countries have taken steps to relax regulations surrounding cannabis use. In 2013, Uruguay led the charge by legalizing the cultivation, sale and consumption of cannabis, setting a precedent for the world. In the United States, numerous states, including California, have progressively revised their laws over the last decade to accommodate recreational marijuana use.

Malta achieved a landmark feat in 2021 as the first European Union member to legalize recreational marijuana. Meanwhile, the Netherlands has long tolerated the sale and consumption of marijuana in designated “coffee shops” since the 1970s.

Drawing inspiration from these international examples, Lauterbach expresses confidence that the current form of the German plan constitutes the most comprehensive endeavor in marijuana legislation to date.

When this marijuana market finally opens, many companies that operate along the lines of U.S-based Advanced Container Technologies Inc. (OTC: ACTX) are likely to mushroom and strive as they serve those interested in growing their own marijuana at home.

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Ohio has the potential to witness a substantial boost in its yearly tax revenue, reaching an impressive $403.5 million from the sales of recreational marijuana, according to a fresh analysis by researchers at Ohio State University. The researchers base their tax revenue estimations on the initial years of sales, drawing insights from comparable markets in other states.

The study primarily hones in on the patterns of cannabis sales in Michigan, a neighboring state with a similar population size. Additionally, Michigan’s tax structure bears a striking resemblance to the one that Ohio would likely adopt if the legalization measure gets the nod. The research also casts its gaze on sales figures from 2018 to 2023 in states such as Washington, Oregon, Nevada, Illinois, and Colorado.

This report marks the second iteration, an update from last year’s edition, factoring in two more years of marijuana sales data in regulated markets. The decision to revise the estimates stems from the high likelihood of Ohio granting voters the opportunity to weigh in on the legalization initiative via the coming ballot.

The outcomes of this research indicate that Ohio could potentially rake in between $276.2 and $403.5 million in annual tax revenue from cannabis sales within five years of its legalization. Notably, the lower estimate remains consistent with the previous year’s report, while the upper range has surged by nearly $30 million due to the inclusion of more sales data from the six states.

This range in estimations results from the utilization of three distinct pricing models. The models map out the potential tax income under the following scenarios: Ohio’s cannabis products are taxed at rates equivalent to Michigan’s, 10% higher or 20% higher.

The paper underscores the pivotal role tax levels and structure would play in determining the final tax revenue. Although the Michigan tax framework and the proposed Ohio tax structure are comparatively modest among legalized states, Ohio could opt for higher taxes, potentially leading to enhanced revenue. Nevertheless, this could inadvertently elevate product costs, making it challenging to combat the illicit marijuana trade and potentially resulting in dwindling tax returns over time.

The report further elucidates that revenue from marijuana tends to exhibit robust growth during the initial stages of adult-use legalization, with a subsequent tapering off as markets mature. As evident from their review of different states, established markets have witnessed declines in cannabis tax revenue, while newer entrants such as Illinois and Michigan experienced significant revenue growth.

The updated analysis projects escalating marijuana revenue in Ohio, projecting figures as high as $218.5 million in the second year of sales, surging to potentially $305.6 million in the third year and $366.8 million in the fourth year. The peak is expected to be reached in the fifth year, hitting the $403.5 million milestone.

Throughout 2023, multiple states with legalized marijuana have reported consistently record-breaking monthly sales. Michigan, for instance, achieved a new monthly record in July, exceeding the previous month’s sales by a substantial margin.

States in the Northeast, including Rhode Island, Massachusetts, Maine and Connecticut, have all marked new records for marijuana transactions. Illinois recorded its strongest sales month to date in July, while Maryland also saw impressive figures since launching its recreational market. Missouri has also experienced a thriving cannabis market since its recreational market initiation in February, boasting daily sales averaging around $4 million and attaining a record-breaking $121.3 million in cannabis purchases in June.

In Ohio, proponents of cannabis legalization are confident about the initiative’s appearance on the ballot. Despite falling short by 679 signatures initially, advocates managed to bridge the gap during a 10-day correction period after submitting a substantial number of petitions. The campaign awaits official confirmation of success from the secretary of state’s office.

Once cannabis is legalized in Ohio, numerous business opportunities are likely to open up for a diverse variety of enterprises, such as Advanced Container Technologies Inc. (OTC: ACTX), which specialize in providing supplies like indoor cultivation equipment to mainstream marijuana companies.

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

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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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Demonstrations rocked the German capital city of Berlin last weekend as hundreds of Germans joined the country’s yearly marijuana legalization protests. Held just days before the German country met to discuss the fate of a draft measure that would get rid of Germany’s ban on cannabis, several hundred protestors joined the annual Hanfparade (Hemp Parade) and called on the government to legalize cannabis.

The rally began at the Berlin Rotes Rathaus (Red town hall) before the protestors walked a route that took them through the Unter den Linden boulevard and to the government district.

Held every year since 1997, the Hemp Parade’s main goal is to persuade the government to review and liberalize policies on soft drugs such as hashish and marijuana that come from the marijuana plant. Event organizers also support and advocate for expanded access to medical marijuana as well as the use of hemp, a plant in the cannabis family that produces very minimal amounts of the psychoactive compound tetrahydrocannabinol (THC).

This year’s demonstration motto was “Hemp is great for peace and climate.”

German lawmakers plan on legalizing marijuana and possibly allowing the possession of up to 25 grams of cannabis and home cultivation of up to three cannabis plants for adults. A proposed cannabis legalization law would also allow “cannabis clubs” to cultivate and sell cannabis to adults under specific rules. This includes limiting each customer to 50 grams of cannabis per month and using neutral packaging.

On top of generating millions of dollars in revenue, the proposed law would save Germany’s police force, the legal system and prison facilities more than $1.11 billion in operational costs every year.

Although reform activists hope the bill will advance and finally end cannabis prohibition in Germany, it will likely face plenty of pushback from associated agencies and organizations. For instance, the German Judges Association (DRB) claims upholding the measure will be difficult, calling it a “very small-scale law” that would require a very high degree of control and potentially lead to several court disputes. The DRB added that the legalization measure would have little effect on Germany’s illicit drug market.

German police have also criticized the proposed marijuana legalization measure. Like the DRB, the deputy head of the German Police Union (Gdp) says that the measure “lacks precision and oversight” and will burden the country’s police force to a significant degree. Gdp deputy federal chairman Alexander Poitz argued that the measure does not outline how to source and manage the additional personnel and technical effort law enforcement will need if it becomes law.

The Free Democratic Party (FDP) addiction and drug-policy spokesperson Kristine Lütke also said that the proposal in its current form would “create a bureaucratic monster.”

As more countries consider and implement marijuana legalization measures, many enterprises are likely to mushroom and thrive in the way that companies such as Advanced Container Technologies Inc. (OTC: ACTX) are finding success by doing business with marijuana companies in the U.S.

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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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