CannabisNewsBreaks – Golden Triangle Ventures Inc. (GTVH) Announces Significant Progress on Destino Ranch Project

Golden Triangle Ventures (OTC: GTVH) (“GTV”) today provided an update on its premier project, Destino Ranch, which is being developed by the company’s entertainment division through its wholly owned subsidiary, Lavish Entertainment. Destino Ranch is a bold project led by Lavish, designed to provide a unique combination of world-class entertainment, opulent accommodations and immersive experiences. Lavish has made significant progress in developing Destino Ranch over the past six months, including a massive overhaul of the irrigation system and extensive cleanup efforts including the repair of perimeter fencing, reinstallation of gates, and opening of roadways around the project. Tree care has been a primary focus, involving pruning and trimming for health benefits and ongoing fruit production, removal of dead trees and plans to add colorful trees and plants to create a park-like atmosphere, improving the environment and enhancing the overall aesthetic appeal of Destino Ranch. Management is diligently collaborating with city planners and council members to secure the necessary permits and approvals for the project. The company is actively engaged in future concept planning and, as part of this strategic initiative, is assembling a stellar board of team members and directors, whose expertise will propel the project forward. Concurrently, the company is identifying key vendors and determining specific placements, developing a precise site map to guide the development of Destino Ranch.

To view the full press release, visit https://cnw.fm/o7ZRI

About Golden Triangle Ventures Inc. (“GTV”)

Golden Triangle Ventures is a multifaceted consulting company, which operates as the parent business pursuing ventures in the health, entertainment and technology sectors, along with others that provide synergistic value to these three core divisions. The company aims to purchase, acquire and/or joint venture with established entities within these areas of business. The goods and services represented are driven by innovators who have passion and commitment in these marketplaces. The company plans to utilize relationships and create a platform for new and existing businesses to strengthen their products and/or services. The three points of the Golden Triangle exclusively represent the three sectors in which this company aims to do business. Golden Triangle Ventures is highly focused on acquiring a well-diversified portfolio of companies under one umbrella, which are all managed and owned by the company. An amazing team of professionals support each division and continue to help the company grow daily. Being a publicly traded company gives the ability to provide the support needed to help each subsidiary grow into the business that management believes it can and will become. For more information, visit the company’s website at www.GoldenTriangleInc.com.

NOTE TO INVESTORS: The latest news and updates relating to GTVH are available in the company’s newsroom at https://cnw.fm/GTVH

About CannabisNewsWire

CannabisNewsWire (“CNW”) is a specialized communications platform with a focus on cannabis news and the cannabis sector. It is one of 60+ 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 — Slumping Marijuana Market in Colorado Triggers Industry Concern

In 2014, a Denver-based cannabis dispensary, 3D Cannabis, made history as the first seller of legal marijuana. Over a decade later, the dispensary bears a sign saying it is “temporarily closed,” with the building’s doors and windows boarded up and the parking lot strewn with trash, symbolizing the challenges facing Colorado’s marijuana market.

Once a thriving success, the industry is now marked by failed entities and struggling entrepreneurs due to regulatory challenges, market saturation and increased competition from neighboring states.

The market’s sales peaked in 2020 at $2.2 billion. But by 2023, revenues had fallen to $1.5 billion, which led to restructuring, closures and layoffs. The decrease has also affected state finances; in the most recent fiscal year, Colorado’s marijuana tax receipts dropped significantly to $282 million from prior years.

Several factors have contributed to the industry’s struggles. An oversupply of cannabis following the pandemic caused prices to drop sharply. The rise of cheap, unregulated hemp-derived products added further pressure. Additionally, the federal illegality of marijuana means operators face high taxes and costly rules.

However, the primary challenge has been the rapid spread of legalization across the country, with neighboring states such as Arizona and New Mexico now having their own legal cannabis markets and disrupting Colorado dispensaries, particularly those near the southern border. Tourists who previously flocked to Colorado for legal marijuana now have closer options, and even Texans are finding satisfying alternatives in hemp products available locally.

While some business owners have managed to survive by adapting, many have closed or moved to other states. The number of marijuana licenses in Colorado decreased by more than 16%, similar to the number of marijuana jobs, marking the second consecutive year of employment losses.

Maggie’s Farm, a retailer in southern Colorado, is one prominent example: out of its eight dispensaries, five are closed. Similarly, one of the biggest marijuana companies in the United States, Curaleaf, stated in January of last year that it was closing its cultivation and production facilities in Colorado.

In 2020, the pandemic helped the state’s cannabis industry at first since more people were staying at home and making more purchases, thanks to stimulus checks. However, as the pandemic’s dynamics shifted, the rush to expand cannabis production resulted in a glut of supply, causing prices to drop from nearly $1,700 a pound to about $700 a pound.

Companies such as Veritas Fine Marijuana, a wholesale grower, initially expanded their production but later had to downsize and change their cultivation methods to stay competitive. At its peak, Veritas employed 144 people; currently, it has only 21 employees.

Native Roots, another significant player, experienced similar challenges. Its Mothership growth facility in Denver used to produce around 32,000 pounds of cannabis annually but had to cut production by half by mid-2023. The company is cautiously increasing production again while closely monitoring market conditions. Native Roots benefits from having 21 dispensaries across the state, helping it weather the downturn better than some competitors.

Moreover, states compete on regulations, further complicating the market. New Mexico, for instance, allows adults to purchase up to two ounces of marijuana, double Colorado’s limit. Additionally, edibles in New Mexico can contain higher dosages. These higher limits attract residents from states without legal weed, who previously traveled to Colorado.

Despite the industry’s struggles, Colorado’s early legalization has produced successful entrepreneurs who have expanded beyond Colorado’s borders. Nancy Whiteman, for instance, founded Wana in 2010, focusing on marijuana-infused edibles. Wana has grown significantly, with operations in 17 states and Puerto Rico, and plans to enter the European market. Whiteman’s success culminated in a lucrative deal with Canopy Growth, a major Canadian cannabis producer valued at $350 million.

Major marijuana entities such as Tilray Brands Inc. (NASDAQ: TLRY) (TSX: TLRY) could be assessing the changing market dynamics and planning their future strategic direction in order to remain at the top.

About CNW420

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 — DeSantis Vetoes Bill Banning Hemp Intoxicants in Florida

As Florida governor Ron DeSantis campaigns against a ballot initiative for cannabis legalization, he has paradoxically vetoed a bill aimed at banning the sale of intoxicating hemp-derived cannabinoids in the state. This decision comes in the wake of reports that Governor DeSantis intended to block the hemp prohibition bill, hoping the hemp industry would financially support his campaign against the cannabis measure that voters will decide on in November.

Although DeSantis did not explicitly reference the cannabis legalization measure in his veto letter, he noted that while the goals of SB 1698 are admirable, the measure would impose significant regulatory burdens on small entities and likely fail to achieve its objectives. He expressed concern that the bill would cause substantial harm and disruption to many manufacturing and small retail businesses in the state, which have thrived due to new laws legalizing the use of hemp for commercial purposes.

Despite vetoing the bill, DeSantis proposed several considerations for future legislative work on the issue. He suggested that lawmakers establish guidelines for the handling, cultivation and processing of hemp products to guarantee their purity, safety and potency. According to the governor, the current bill falls short in this regard. DeSantis also suggested selling hemp-derived cannabinoids behind the counter and placing hemp retail stores a safe distance away from places of worship, schools and other gathering places for families with young children.

Essentially, DeSantis is asking voters to reject a ballot proposition that would impose similar rules on the recreational marijuana business, even as he advocates for harsher laws on the hemp-based cannabinoid sector. In the meanwhile, he permits the hemp sector to function without these proposed regulations.

The governor’s veto message was issued a day after a Fox News survey revealed that two-thirds of Florida voters, including a majority of GOP supporters, support the marijuana legalization initiative. According to the survey, 66% of voters support the initiative, surpassing the 60% threshold needed to pass the amendment under state law. In contrast, 52% of voters indicated they either highly or somewhat approve of DeSantis’ performance as governor, highlighting a 14-point disparity in support compared to cannabis legalization.

This calls into doubt the electoral viability of DeSantis’s opposition to the cannabis bill. The governor has maintained that the state should not go beyond the current medical marijuana program, arguing that more extensive reform would have a detrimental effect on Floridians’ standard of living.

The contradictions evident in the governor’s opposition to adult-use cannabis legalization while at the same time shooting down legislation to rein in hemp intoxicants is something that marijuana companies such as TerrAscend Corp. (TSX: TSND) (OTCQX: TSNDF) could find baffling, making the case for federal reforms that are free from the suspected local interests that may have influenced this veto letter.

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420 with CNW — Ohio Officials Post Adult-Use Cannabis License Application Forms as Market Launch Looms

Cannabis regulators in Ohio have released guidelines to help medical marijuana dispensaries prepare for the application process to obtain dual licenses. These licenses would allow them to serve both medical patients and recreational consumers. Applications are expected to open soon, and the Cannabis Control Department (DCC) has provided a FAQ and detailed instructions to assist potential applicants in starting the process.

The provided materials cover various aspects, such as eligibility requirements, the approval procedure, regulations for dual license holders and the necessary documentation for applications.

One question addresses the timeline for reviewing and issuing dual licenses following the submission of an application. The DCC notes that predicting the exact number of days is challenging because it depends on several factors. These include the completeness of the application, the completion of employee badging, adherence to surveillance standards and the fulfillment of inspection requirements, including standards for POS.

However, a faster turnaround time is anticipated for current medical cannabis license holders that have previously satisfied the dual-use license standards and have properly established their POS.

Applications will typically be reviewed in the order they are submitted and received, but the FAQ highlights that applications from testing laboratories, cultivators and processors will be given precedence to ensure an effective supply chain.

Dual licensees must also ensure they maintain sufficient stock of marijuana to meet the needs of medical patients and avoid shortages. The DCC advises each dispensary to determine the appropriate amount of supply for their operation.

Although Governor Mike DeWine does not support cannabis legalization, he has criticized the delay in access to regulated products since voters approved legalization, which made possession legal last December. There have been legislative discussions about creating a bill to expedite sales and make various changes to the law, but these plans have stalled due to disagreements within the Republican-controlled legislature.

While the Senate passed an amendment package before legalization took effect, the House has not acted on it, nor has it moved forward with a different proposal originating in the House. Senators have also recently introduced a separate bill to modify various marijuana regulations.

Regulators have been completing the recreational market’s regulations in the meantime. They changed the regulations in February, letting caregivers and patients who use medical marijuana obtain or renew their registrations for only a penny. As part of an initial package of rules announced by the DCC in February to effectuate recreational legalization, this fee was fully deleted with the adoption of a new rule at the Joint Committee on Agency Rule Review (JCARR) conference last month.

When the market is finally launched, many entrepreneurs will have a chance to start thriving marijuana businesses similar to entities currently operating in other jurisdictions, such as Green Thumb Industries Inc. (CSE: GTII) (OTCQX: GTBIF).

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420 with CNW — Senators Revive Push for Cannabis Industry to Access SBA Resources, Loans

A group of senators from the Democratic Party is urging a significant committee to ensure small cannabis entities have equitable access to federal Small Business Administration (SBA) lending programs and development resources available to other industries.

In an April letter to the leaders of the Appropriations subcommittee, the senators urged that the FY 2025 FSGG spending measure include provisions to stop the SBA from rejecting loan applications from small cannabis entities operating legally in states that have approved marijuana use and sales.

Senator Jacky Rosen led the letter, asking the subcommittee leaders to add clauses to the spending bill that would prevent the SBA from excluding state-legal marijuana businesses from its entrepreneurial development initiatives. Other senators who signed the letter alongside Rosen include Cory Booker, Jeff Merkley, Ron Wyden, Tammy Duckworth, Martin Heinrich, John Hickenlooper, Ed Markey, Michael Bennett and Alex Padilla.

The senators highlighted the change in public attitude toward cannabis reform, pointing out that markets which bring in billions of dollars in tax revenue had resulted from the legalization of cannabis in the majority of states. The senators also noted that most banks are hesitant to work with legal marijuana entities because of federal law conflicts, compelling these businesses to operate mainly with cash. This situation poses public safety risks. The lawmakers argued that SBA loan initiatives could bridge the gap left by private-sector reluctance, providing vital capital for entrepreneurs, including women, minorities and veterans.

This marks at least the third instance where Rosen has led a similar request to the Appropriations subcommittee, but the proposed language has not yet been included in any spending measure.

Senate leadership has been discussing a bipartisan measure to safeguard financial institutions working with legal marijuana entities. However, the progress of this bill remains uncertain, particularly due to resistance from key Republican members such as Mitch McConnell, the Senate minority leader.

Rosen has previously expressed a desire to amend the SAFER Banking Act to allow marijuana businesses to access SBA programs. Additionally, she has advocated for the inclusion of language in a newly introduced federal cannabis legalization measure that proposes an SBA pilot initiative. The initiative would provide intermediary lending, offering direct loans to qualified intermediaries, who would then lend to startups and businesses owned by those affected by the drug war and those from economically and socially disadvantaged backgrounds.

In a news release regarding the letter and the other efforts she recently spearheaded, Rosen stressed the value of small entities to Nevada’s economy. She emphasized her resolve to slash bureaucratic obstacles to facilitate such businesses’ access to financing and assist them obtain the federal support they require for expansion and prosperity.

Industry actors such as Software Effective Solutions Corp. (d/b/a MedCana) (OTC: SFWJ) would be glad to see that legitimate marijuana companies which need SBA services can access them just as businesses in other industries can.

NOTE TO INVESTORS: The latest news and updates relating to Software Effective Solutions Corp. (d/b/a MedCana) (OTC: SFWJ) are available in the company’s newsroom at https://cnw.fm/SFWJ

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420 with CNW — California Moves to Crackdown on Hemp Intoxicants

It has become clear in recent years that obtaining a cannabis license is both expensive and complicated. As a result, many people have found it easier to sell intoxicating products, such as hemp THC beverages. However, this trend may be shifting, especially in California.

Hemp THC beverages are drinks that contain hemp-derived delta-9 THC. You might be wondering how this is possible given the federal law that restricts THC content to 0.3%. Interestingly, these beverages can still be intoxicating without exceeding this limit. For instance, a drink containing 5 to 10 milligrams of hemp-derived THC can be intoxicating while still maintaining a THC concentration below 0.3%, depending on its weight.

California Governor Gavin Newsom issued an order in April for the Alcoholic Beverage Control (ABC) and the Public Health Department (CDPH) to ensure hemp products sold in the state adhere to the law. The initiative, titled California Takes Action to Protect Youth from Illegal Hemp Products, emphasizes the need to prevent mislabeled and misleading products from reaching the market, particularly to safeguard children’s health.

The directive highlighted concerns about highly intoxicating hemp beverages appearing in retail stores, which could easily end up in the hands of minors. Hemp products, distinct from those in the legal market, must adhere to stringent consumer safety regulations, including precise labeling requirements. Failure to comply with these regulations is illegal and can lead to license revocation.

Following the directive, both ABC and CDPH issued general warnings to entities about potentially illegal hemp products.

Last week, CDPH specifically warned consumers against drinking hemp-infused sodas under the Mary Jones branding, alleging that the drinks contained isolate of delta-9 THC. As per the CDPH, state law prohibits the inclusion of THC isolate as a component in hemp products.

This warning, which indicates that CDPH views goods containing THC isolates could be dangerous, might have a big impact on the California hemp THC beverage market. The future actions of CDPH remain uncertain, especially regarding companies that produce hemp THC drinks without using THC isolates. State law grants CDPH and other regulators substantial authority to target companies selling “misbranded” or “adulterated” products. These terms can be interpreted broadly, potentially encompassing any product with intoxicating cannabinoids.

Under California law, “THC” broadly consists of:

tetrahydrocannabinolic acid
tetrahydrocannabinol of any kind regardless of how they are derives (the CDPH may exclude certain isomers from this definition)
any other cannabis compound, except CBD, that CDPH determines to be intoxicating.

This definition indicates that CDPH may examine any psychoactive cannabinoid, not just isolate of delta-9 THC. Additionally, there are federal considerations to keep in mind. Recent proposed amendments to Farm Bill 2024 aim to limit intoxicating cannabis compounds. While the amendments do not specify a restrictive milligram cap for hemp THC beverages, they do exclude products with “quantifiable levels” of THC or other intoxicating cannabis compounds from the definition of hemp. The exact meaning of “quantifiable levels” will be determined by federal regulators, which could result in regulations that effectively ban intoxicating hemp THC drinks.

The actions taken by California regulators to crackdown on hemp intoxicants could help to clarify the boundaries between the THC products from licensed companies in various jurisdictions, such as Cresco Labs Inc. (CSE: CL) (OTCQX: CRLBF), and products synthesized from hemp.

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420 with CNW — Survey Explores Views of Americans on Cannabis Legalization

As the United States moves closer to rescheduling and legalizing cannabis, critical questions emerge about who should benefit from these changes and who is best suited to craft equitable cannabis policies. Big businesses frequently have a big say in what laws are passed, and the cannabis industry seems to be no exception. But who, in the opinion of Americans, ought to have more influence over cannabis laws?

A recent survey by the Parabola Center, a nonpartisan think tank made up of experts in drug policy and law who advocate for marijuana legalization with a special emphasis on small enterprises and individuals, provides insight into public opinion. When respondents were asked who they trusted to develop effective marijuana policies, they provided the following responses:

67%: individuals with firsthand experience
56%: cannabis users
55%: social-equity advocates
24%: representatives from pharmaceutical companies
22%: federal government
18%: executives from the tobacco industry
13%: executives from the alcohol industry

It makes sense that people have little faith in executives in the alcohol and tobacco industries, given the harmful effects of their products. Furthermore, as their regular customer base shrinks, a few of these businesses are keen to join the cannabis space.

When asked about their top concerns regarding marijuana policy, respondents said the following:

68%: promoting social equity
68%: ending cannabis-related arrests
65%: ensuring access to marijuana
49%: fostering a sharing society
42%: preserving cannabis culture
27%: keeping cannabis illegal

The war on drugs, including marijuana prohibition, disproportionately harmed certain communities. Many believe that fair policies could help address some of the injustices caused by past enforcement. In fact, according to 61% of respondents, legalization should help individuals who have been negatively impacted by current prohibitions.

President Joseph Biden has also acknowledged the negative impacts caused by outdated cannabis policies. He stated in 2022 while announcing a review of how marijuana is classified, that many lives have been upended because of failed cannabis policy approaches, and it was time to make the mistakes right.

When asked who should benefit from cannabis legalization, respondents identified the following top three groups:

85%: people using marijuana for medicinal purposes
73%: workers in the marijuana industry
63%: recreational users

Conversely, the least-favored groups included alcohol companies, the tobacco industry, large corporations and pharmaceutical companies.

The survey, conducted in September 2023, involved 404 U.S. adults. Although not extensive, it may be one of the first surveys to explore this particular angle of marijuana policy and legalization.

Entities such as Canopy Growth Corp. (NASDAQ: CGC) (TSX: WEED) will be pleased to see that the general public sentiment is in favor of ending cannabis prohibition at the federal level and allowing experienced industry professionals to be in charge of policy making and implementation.

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Alternative Products Expo to Present Fresh Ideas and Products in Houston

The Alternative Products Expo by ZJ Events is coming to George R. Brown Center, Houston, June 20-22, 2024. Houston has emerged as a thriving center of smoke shops, with its rich food, culture, and resourceful connectivity, and the Alternative Products Expo will witness a large crowd of traders, manufacturers, and enthusiasts from all over the country.

ZJ Events is a pioneer in organizing expos for the CBD community where they discover novel innovations and get updates on new industry trends and regulations. Traders can leverage the event platform to get the best show-exclusive deals limited to the event. Attendees can explore, connect, and collaborate with industry veterans and peers in an exciting environment with immense learning opportunities.

The Alternative Product category includes herbal products, energy boosts, cannabis derivatives, mood enhancers, vape products, wellness products, and dietary supplements, to name a few. A go-to event for smoke shop owners, the expo offers unique products and fresh ideas for the local cannabis community. The canna enthusiasts can find exciting alternative products and their ancillary accessories & services at the expo.

Exhibitors can showcase their unique products at the exhibit booths. The event offers an expansive platform for traders, retailers, and e-commerce businesses looking to expand their business. As a part of their marketing campaign, the Alternative Products Expo organizers will ensure direct introductions to Shop owners, gas station owners, and retailers. Traders can maximize their brand visibility, build long-term ties with investors, and leverage the expo’s networking and marketing strategies for better ROI.

The event will also bring together the local cannabis community in and around Houston, boosting common interests and business collaborations. It’s time to deepen connections with the cannabis community, discover the most exciting products in the market, and connect with a vibrant cannabis community at the Alternative Products Expo.

Trinity Hemp is the presenting sponsor of Alternative Products Expo Houston.

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

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420 with CNW — Study Says Cannabis Terpenes Equal to Morphine in Pain Management

A new study exploring the potential of marijuana terpenes as treatments for chronic neuropathic pain suggests that these compounds could be as effective as morphine for pain relief, showing similar reductions in pain markers when administered via injection. Interestingly, when terpenes were combined with morphine, they enhanced the drug’s effectiveness as well.

The study found that, unlike morphine, none of the terpenes triggered a significant reward response, implying that they might be effective pain relievers without the risk of addiction or dysphoria. However, vaporized or orally administered terpenes did not show much impact on pain relief.

The authors highlighted that while major marijuana components, such as CBD and THC, have shown moderate effectiveness in managing severe pain, THC often has undesirable psychoactive effects. This limitation has led to a focus on other potential therapeutic compounds in marijuana, including terpenes, flavonoids and minor cannabinoids.

Terpenes, naturally occurring in many plants, such as rosemary, pine trees and oranges, are particularly abundant in marijuana, which contains about 150 different terpenes. The study suggests that this chemical diversity might contribute to the varied effects of various marijuana strains.

The research specifically investigated five terpenes: linalool, alpha-humulene, geraniol, beta-caryophyllene and beta-pinene, found in significant quantities in marijuana. The terpenes were tested on mice to evaluate their effects on inflammatory and peripheral neuropathic pain. The substances were injected into the mice’s hind paws and induced by chemotherapy medications, respectively. The terpenes were also administered orally and through vaporization.

Tests were conducted on a per-terpene basis, with 200 mg/kg of terpenes and 10 mg/kg of morphine being used for comparison. The study aimed to not only assess pain relief but also understand the mechanisms behind it. This included behavioral observations and cellular analyses, such as mRNA evaluation from flash-frozen mouse skin.

Results showed that all tested terpenes reduced neuropathic pain markers, except pinene, which did not significantly affect inflammatory pain.

Combining lower doses of terpenes with morphine appeared to enhance pain relief, indicating a potential for combination therapies that might offer better pain management while reducing the risk of opioid addiction. Regarding the potential for addiction, the study found that linalool and geraniol did not produce either an aversion or a preference in mice, suggesting they do not cause dysphoria or reward. Conversely, beta-caryophyllene and alpha-humulene showed a substantial aversive response, indicating they might be dysphoric, while beta-pinene had possible aversive side effects.

The method of administering terpenes mattered significantly. Injected terpenes were effective in reducing pain markers, whereas oral and vaporized terpenes had limited impact and sometimes caused side effects such as hypothermia. This indicates that terpenes might have restricted bioavailability when taken orally or inhaled, which could explain why some people might not experience their pain-relieving effects through these methods.

The study also explored the mechanisms behind terpene-induced pain relief, suggesting that terpenes might act as anti-inflammatory agents and interact with specific nervous system receptors. The research indicated that terpenes could act as A2AR agonists, potentially interacting with receptors in a complex manner that requires further investigation.

Overall, while the findings are promising, the authors emphasized the need for more research to fully understand how these results translate to human pain management.

This study, in a way, provides validation for companies such as Trulieve Cannabis Corp. (CSE: TRUL) (OTCQX: TCNNF) that have heavily invested in developing medical cannabis products to help patients manage their symptoms.

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420 with CNW — Daily Marijuana Use Has Now Overtaken Alcohol Use in the US

According to a recent survey, the number of Americans who use marijuana daily or almost daily has increased relative to those who use alcohol at the same frequency. The findings, which have been published in the “Addiction Journal,” are based on information gathered over the previous 40 years by the National Survey on Drug Use and Health.

According to the report, 17.7 million people used cannabis daily in 2022, overtaking the 14.7 million people who drink alcohol every day for the first time. Although alcohol is still consumed more frequently overall, the survey shows that daily cannabis consumption has significantly increased over the past few decades.

In particular, there was a 15-fold increase in the number of individuals consuming cannabis every day, or almost every day, between 1992 and 2022. Less than a million people reported using it frequently in 1992, which was the lowest number since the survey’s inception in 1979.

The chief medical officer of the medicinal cannabis startup EO Care, Dr. Brooke Worster, noted that although there are more users now for a variety of reasons, more people are freely confessing to using cannabis as a result of the stigma around it being lessened. According to Worster, the rates haven’t changed as drastically as the survey suggests.

She also noted that more than the previous 20 years, the legal marijuana market has expanded dramatically, drawing a wide variety of users, including a large number of senior citizens.

Currently, 24 states and DC allow the recreational use of cannabis, and 38 states allow it for medical use. Despite this, the federal government has been hesitant to decriminalize or fully legalize cannabis nationally.

However, a major shift occurred recently when the U.S. Department of Justice (DOJ) moved to reclassify marijuana from Schedule I of the the Controlled Substances Act (CSA) to Schedule III. President Joseph Biden acknowledged the need for reform, stating that too many lives have been destroyed by a misguided approach to cannabis.

Worster also addressed the misconception that cannabis acts as a “gateway” drug leading to the use of more dangerous substances. Decades of medical research have debunked this myth, showing that the majority of marijuana users do not progress to harder substances. Nonetheless, she cautioned that young adults and users of high-potency cannabis products are at higher risk of developing marijuana-use disorder.

Marijuana-use disorder can result in serious health and social problems that affect a person’s safety and quality of life, but it does not cause organ destruction or death such as opioid and alcohol-use disorders do.

The increasing daily use of marijuana by Americans suggests that licensed entities such as Tilray Brands Inc. (NASDAQ: TLRY) (TSX: TLRY) could potentially see their sales grow steadily as more people become comfortable about using marijuana either for medicinal or recreational purposes.

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