Florida Attorney General Ashley Moody is working hard to keep a cannabis legalization initiative off the 2024 ballot. The attorney general recently issued a brief to the Florida Supreme Court detailing why she is opposed to the addition of the legalization measure on next year’s ballot.

Moody had received a two-week extension from the court to give her more time to finish the brief, and she submitted it on the Monday deadline. The Attorney General’s office is looking to nullify the marijuana legalization measure based on the argument that its ballot summary’s language is “affirmatively misleading” in several ways.

According to Moody, the summary does not take adequate steps to inform Florida voters that cannabis will remain illegal at the federal level. She notes in her brief that prior court opinions on ballot legalization measures did not stress the fact that “voters need clear guidance” before being asked to eliminate state-level penalties for possessing a substance that would still be illegal per the federal law. The note stated that “rampant disinformation in the press” and the measure’s sponsor made the need for clarity in the measure summary even more necessary.

Moody also argued that the ballot measure was misleading because it suggested the legislation would raise the number of cannabis retailers when the reality is it would simply allow existing operations to expand their retail outlets. Increased competition in the cannabis marketplace would increase product quality and professionalism among cannabis producers and retailers while reducing retail prices, the brief explained.

However, Moody said in her note, the state only allows medical marijuana treatment centers to take part in the cannabis trade at the moment, and the ballot measure won’t take any steps to change this. Moody states that the measure is also misleading because it would leave “reasonable voters” with the impression that they have limited immunity for the possession of up to three ounces of cannabis when in reality they would be subject to certain penalties for possessing more than the allowable amounts of cannabis.

Furthermore, the measure would limit the legislature’s ability to increase the maximum possession limit for cannabis and home marijuana cultivation in its entirety, allowing companies such as Trulieve, which financed the measure, to “entrench their monopoly in the marijuana market.”

Finally, the attorney general said that the ballot measure is misleading because it does not mention that the Florida Department of Health won’t be granted “constitutional regulatory authority” in the adult-use cannabis industry like it has medical cannabis. She noted that the bill neglected to disclose that there will be a significant period after legalization when medical cannabis dispensaries take part in the unregulated recreational cannabis trade.

In general, Moody concluded, the measure asks voters to usher in major changes to the state constitution without explaining what those changes would be; The bill should therefore be nullified, she states.

It is interesting to note that most controversy regarding marijuana in Florida and indeed around the world hinges on the recreational use of the substance. Enterprises that specialize in leveraging the medicinal properties of the plant, such as IGC Pharma Inc. (NYSE American: IGC), are insulated from those debates because they operate in a stable environment guided by the FDA drug-development protocols.

NOTE TO INVESTORS: The latest news and updates relating to IGC Pharma 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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More than 30 states now allow their residents to purchase and even grow medical cannabis to treat several allowed conditions. Even though cannabis users typically tend to be younger, a decent portion of medical marijuana patients are older people dealing with conditions such as insomnia and chronic pain from arthritis.

For a lot of medical marijuana patients, especially older ones, the “high” that comes with consuming THC cannabis isn’t always welcome.  Some patients have taken to using cannabis alongside CBD (cannabidiol) to reduce the high, while some researchers have even developed a cannabis strain that delivers the benefits without the high.

However, a recent study from the University of New Mexico (UNM) has revealed that feeling high after taking medical marijuana is associated with greater symptom relief. The research’s findings, which were published in the “Frontiers in Pharmacology” journal, found that patients who feel high after medicating tend to feel greater relief from their respective symptoms.

University of New Mexico associate professor of psychology and senior study author Jacob Vigil explains “feeling high” as feelings of euphoria and impairment. While this mental state is usually the goal for recreational users, some medical marijuana patients see it as a hindrance.

Vigil and his colleagues sought to determine whether the state of impairment and euphoria limited marijuana treatment or is simply an unavoidable part of treatment. The research team partnered with the cannabis-tracking treatment app ReLeaf to examine data from an estimated 2,000 medical marijuana patients collected during some 16,000 sessions with medical cannabis.

They found that 49% of the patients experienced the telltale signs of marijuana high with side effects such as red eyes and dry mouth. Furthermore, 7.7% of the patients saw greater symptom relief and higher levels of peace and relaxation while 20% experienced side effects. Although feeling high was associated with feelings of confusion, clumsiness, and even paranoia, it also caused feelings of happiness, optimism and gratitude.

The researchers surmised that feeling high may be a “fundamental aspect” of taking therapeutic marijuana rather than a hindrance to avoid.

Regarding the proliferation of high-THC products in the market, the research team noted that high THC levels had no correlation with greater symptom improvement. Rather, the researchers suggested that high-THC products only increased relief from symptoms if patients were feeling high. The effect was especially pronounced in participants suffering from fatigue, pain, anxiety and depression.

Researchers say the study highlights the complicated way marijuana interacts with human bodies and points to a future where cannabis treatments are highly customized for each patient.

With this mounting evidence of marijuana’s medicinal effects, it is highly likely that the drug development pipelines of companies such as IGC Pharma Inc. (NYSE American: IGC) will yield viable formulations that meet the FDA’s requirements.

NOTE TO INVESTORS: The latest news and updates relating to IGC Pharma 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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The joint efforts of the National Football League (NFL) and its players’ union have resulted in the announcement of a new round of funding for independent research on the therapeutic advantages of CBD as an alternative treatment for pain in concussed players instead of relying on opioids. The amount of $526,525 has been allocated to support two studies, with one led by the American Society of Pain and Neuroscience (ASPN) investigating cannabidiol and noninvasive vagal nerve stimulation (nVNS) as potential remedies for post-concussion headaches.

The study, which will be randomized and is the first of its kind, aims to compare the effects of CBD and nVNS on athletes involved in contact sports who are experiencing post-traumatic headaches. This data will serve as a foundation for future investigations into post-traumatic headache treatment.

The NFL and the NFL Players Association have been actively promoting research on the benefits and risks of cannabinoids, including CBD, for the past few years. In a previous initiative, the league provided $1 million in grants for two studies that explored the efficacy of cannabis and its components in managing pain and offering neuroprotection to football players with concussions.

NFL-NFLPA Pain Management Committee cochair Kevin Hill expressed hope that these studies would contribute to improved pain management for professional football players.

The funding plan was initially outlined by an NFL commissioner in June 2022, highlighting the widespread interest among players and stakeholders in exploring the therapeutic potential of cannabinoids as an alternative to opioid pain relievers.

The NFL-NFLPA committee organized two informational forums on CBD in 2020. In addition, the NFL’s drug-testing policy underwent significant changes in 2020 as part of a collective bargaining agreement. The revised policy stipulates that players will no longer face suspensions for positive drug tests — not just for cannabis but for any drug.

Similar revisions to drug policies have been adopted by other sports leagues as the movement for cannabis legalization gains momentum at the state level. The NCAA, for example, has a committee dedicated to promoting the health and well-being of student-athletes, which has proposed removing cannabis from its list of banned substances.

The NBA has also eliminated THC from its drug-testing requirements while also allowing players to make passive investments in the cannabis industry. However, under the latest collective bargaining agreement, NBA players are prohibited from endorsing cannabis companies.

Nevada sports regulators recently voted to propose a regulatory amendment that would protect athletes from penalties for possessing or using cannabis per state law.

In 2021, the UFC announced that fighters would no longer face punishment for positive cannabis tests.

Meanwhile, the Kansas City Royals, following the example of the Chicago Cubs, have formed a partnership with a marijuana brand to raise awareness about the potential therapeutic benefits of CBD.

It isn’t surprising that the NFL is injecting research dollars into exploring the therapeutic potential of cannabis. Many companies, such as IGC Pharma Inc. (NYSE American: IGC), have already registered significant progress in their attempts to develop medicinal formulations from THC and other cannabinoids. The NFL is therefore not misguided in exploring this aspect of marijuana.

NOTE TO INVESTORS: The latest news and updates relating to IGC Pharma 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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The United States cannabis sector is reaping the benefits of long-awaited tax relief as more states, currently standing at 20, have sanctioned legislation that grants exemptions to businesses from Section 280E of the federal tax law. During the spring, lawmakers in Illinois, Connecticut, New York, and New Jersey passed bills that will enable marijuana companies to reduce their business expenses from state income taxes, despite the fact that these businesses are still illegal under federal law.

The expected savings could be substantial for larger businesses, depending on the corporation tax rate imposed by each state.

Nevertheless, the state-level exemption does not impact the federal taxes that marijuana companies are liable to pay, and these businesses will still be prohibited from deducting expenses for national income taxes. Section 280E of the Internal Revenue Service (IRS) tax act prohibits marijuana businesses from claiming conventional business deductions due to the classification of the plant as a Schedule 1 substance under the federal CSA.

The Marijuana Policy Project (MPP), a Washington, D.C.-based advocacy group, claims that legislation to free businesses from the restrictions of 280E has been passed in 16 states where recreational cannabis use is allowed. In contrast, 280E has not been waived for the adult-use cannabis sector in Arizona, Alaska, Maine, Washington State, or Nevada, while Rhode Island’s attempts appear to have stagnated in a legislative committee. Also excluded from 280E under state tax regulations are medical marijuana businesses in Washington, D.C., Arkansas, Maine, Louisiana, and Hawaii.

Legislators are passing exemptions that let the cannabis industry operate and deduct business expenditures similarly to any other industry in recognition that the existing tax rates are unsustainable and that tax income may decrease further if businesses break down.

However, since corporate tax rates vary across states, the benefits derived from state exemptions will differ depending on the location of the companies.

For instance, whereas Illinois has a flat corporation tax rate of 9.5% for all businesses after decoupling from 280E in May, Nevada has no corporate tax. New Jersey permits deductions for both corporate company tax and gross income tax, while some jurisdictions could have limitations on deductibility.

Nevertheless, industry watchers are mostly optimistic about big federal-level improvements. The cannabis industry will likely pay an additional $1.8 billion in 2022’s federal taxes compared to noncannabis businesses, according to research done by Oregon-based Whitney Economics. This sum is anticipated to reach $2.1 billion this year. In the meantime, investors are closely monitoring the progress of President Joseph Biden’s administration, which recently declared its desire to examine and perhaps change the scheduling of cannabis.

With or without a scheduling change for marijuana, the pharmaceutical-grade formulations being developed by enterprises such as IGC Pharma Inc. (NYSE American: IGC) from cannabis may not be affected. This is because these companies have to adhere to an existing set of requirements overseen by the FDA, the regulator responsible for approving any drugs before they enter the healthcare market.

NOTE TO INVESTORS: The latest news and updates relating to IGC Pharma 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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Wisconsin’s Supreme Court has declared that the presence of a marijuana-like smell inside a car provides sufficient justification for police to search the vehicle’s occupants. This ruling, delivered last week by the court’s conservative majority in a 4 to 3 vote, overturned previous decisions by lower courts that maintained officers could not be certain whether they were detecting the scent of CBD.

In 2019, Quaheem Moore found himself subject to a search by two police officers when he was pulled over for exceeding the speed limit. He was alone in the vehicle, which emitted a smell resembling marijuana. Moore informed the police that he possessed a vaping tool containing CBD and that the car was his brother’s rental. The officers did not detect the scent of cannabis on Moore.

Moore contended in court that there was no evidence that he was the source of the odor.

To conduct a search, law enforcement must possess adequate evidence to reasonably believe that an individual has likely committed an offense. Additionally, any evidence obtained through an illegal search is inadmissible in court.

Although he was never charged with marijuana possession, Moore faced narcotics charges after the police found small bags of fentanyl and cocaine in his pocket. An appeals court and a circuit court judge had previously moved to exclude the drugs, deeming the search unlawful.

In its ruling, the Supreme Court cited a 1999 case in which it held that police had a legal basis to detain a motorist after identifying him by the marijuana odor emanating from his car. This viewpoint asserted that an offense had been committed if a controlled substance could be detected by smell alone.

The three liberal judges, however, questioned that decision, claiming it was out of date and did not take into consideration the later legalization of substances with a marijuana-like odor. They added that there was not enough proof for the police to believe Moore was to blame for the smell in the vehicle he was operating.

Joshua Hargrove, Moore’s lawyer, stated that the decision would allow police to conduct searches based on dubious assumptions without ever being held legally responsible.

The ruling emerges amid an ongoing debate between Republicans and Democrats in Wisconsin regarding the legalization of marijuana. Despite Governor Tony Evers’ efforts to legalize medical and recreational cannabis, the Republican-controlled House has consistently rejected these efforts. However, Robin Vos, the Republican Assembly Speaker, announced plans to introduce legislation legalizing medical cannabis soon.

Neighboring states Illinois and Michigan have already legalized marijuana, and Minnesota is set to legalize it in August following recently passed legislation.

For patients who have a chance to use the cannabis-based formulations being developed by entities such as IGC Pharma Inc. (NYSE American: IGC) once they hit the market, there will be no concerns about the smell of marijuana and the resultant police searches since these medicines will have followed the process leading to FDA approval and will not require the patient to smoke marijuana as they manage their health conditions.

NOTE TO INVESTORS: The latest news and updates relating to IGC Pharma 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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