420 with CNW — Illinois Bags $417M in Cannabis Taxes as 2023 Sales Soar to $1.6B

A report recently released by the Illinois Department of Financial and Professional Regulation shows that in 2023, recreational marijuana sales surpassed $1.6 billion. This figure is its highest amount since the state legalized adult-use marijuana in 2019.

The drug’s legalization came after the state’s General Assembly approved the Illinois Cannabis Regulation and Tax Act, which was enacted in 2020.

In addition to being the 11th state to legalize adult-use marijuana in the United States, Illinois was the first state to adopt a regulatory system for marijuana testing, cultivation and sales via a state legislature. The state of Illinois is also the first to legalize recreational marijuana via a measure that also includes a social-equity program.

The growth in sales recorded in 2023 was driven by the significant increase in recreational cannabis products sold, which topped 42 million. This is roughly a 15% increase from the number of recreational cannabis products sold in 2022.

Out-of-state customers bought products worth $408 million while residents in the state purchased products worth $1.2 billion in 2023.

Despite the promising figures, a drop in sales to out-of-state customers was recorded. Authorities in the state attributed the drop to legalization of the drug in neighboring states, including Missouri and Michigan.

According to the state’s department of revenue, roughly $417 million in sales tax revenue was collected. These funds are allotted to the Cannabis Regulation Fund.

A 6.25% retailers’ occupation tax is imposed on all marijuana sales in the state, in addition to taxes levied at the county and municipal levels.

In a statement, Governor JB Pritzker stated that his administration had built the most accessible marijuana industry in the country by putting equity first. He also noted that their work would continue to provide opportunities for communities across the state, repair wrongdoings of the past and create a more prosperous future.

Currently, 177 recreational marijuana dispensaries operate in Illinois.

Of the total number, five are located in the Springfield area. Maribis has two locations on Denver Drive and Lindbergh Drive while Ascend Cannabis also has two locations, one off Dirksen Parkway and another in downtown Springfield. The latest location, situated on 3600 S. 6th Street Road, launched in September 2023.

The city council of Springfield also approved the permits for 2 new locations in 2023. These locations are set to launch this year. Shangri La plans to build a facility on a lot along Dirksen Parkway while Bolden Investments III will open a store on Prairie Crossing. Boden is based in Maywood.

As more licensed cannabis companies such as Cresco Labs Inc. (CSE: CL) (OTCQX: CRLBF) consolidate their operations in the state, sales are likely to keep growing as more customers learn to rely on the high-quality products that reputable companies bring to the market.

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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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420 with CNW — Feds Finally Publish Documents Revealing HHS Cannabis Rescheduling Recommendation

The federal government has released documents confirming that the U.S. Health and Human Services has recommended that the DEA categorize marijuana under Schedule III. Currently, the Controlled Substances Act classifies marijuana as a Schedule I substance, which means it has a high potential for abuse and has no accepted medical use.

Health officials explained that marijuana had a lower potential for abuse in comparison to other substances under Schedule I or II and was already accepted for medical use in America. In their review, the health officials stated that more than 30,000 healthcare professionals across various jurisdictions in the U.S. were allowed to recommend the medical use of cannabis for more than six million eligible patients for roughly 15 medical conditions.

The majority of the documents debate the federal government’s analysis for drug scheduling, calling attention to the importance of cannabis’ abuse potential in comparison to other substances, its risk of physical dependence, its relative safety and whether it has been accepted for medical use.

The review also examined if available scientific literature supported the medical use of marijuana, with federal health officials acknowledging that many states in the country had legalized the medical use of cannabis. They also noted that some medical marijuana programs had been around for a couple of years.

With regard to effectiveness, the memo stated that the biggest evidence for efficacy existed for cannabis use within pain indications, particularly neuropathic pain.

The U.S. Food and Drug Administration (FDA) also carried out a review noting that it didn’t find support for cannabis providing benefit for anxiety or epilepsy. The review did, however, determine that there was a risk linked to treating post-traumatic stress disorder with cannabis. The agency also highlighted that, in general, there was inadequate quality clinical data supporting the use of cannabis for post-traumatic stress disorder.

In the matter of marijuana’s safety in comparison to other drugs, the review argued that the risks to public heath posed by cannabis were low in comparison to other abused drugs, including benzodiazepines, cocaine and heroin. The review called attention to the fact that cannabis ranked the lowest for overdose deaths, as compared to other substances. The released documents also revealed that the National Institute on Drug Abuse supported the agency’s review.

It is important to note that even if the DEA accepted the health department’s recommendation to reschedule cannabis, the drug would still not be legal under federal law. However, its rescheduling would allow state-legal marijuana businesses to claim federal tax deductions. At the moment, these businesses aren’t permitted to do so because of Section 280E of the Internal Revenue Service code.

Entities in the industry, such as Aurora Cannabis Inc. (NASDAQ: ACB) (TSX: ACB), will be hoping that the rescheduling of cannabis at the federal level paves the way for further regulatory reforms as the years go by.

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420 with CNW — 2023 Data Shows Enrollment in Florida’s Medical Cannabis Program Kept Growing

A recent annual report has shown that the number of persons registered for the medical cannabis program in Florida experienced a gradual increase throughout the fiscal year 2023. However, the pace of growth showed a slight deceleration compared to earlier periods, attributed to the system’s maturation and increased focus on potential recreational cannabis legalization.

According to the report, patient enrollment saw a 15% increase in the fiscal year 2022–2023 compared to 2021–2022. The concluded fiscal year witnessed a decrease in daily doses, primarily influenced by Florida’s emergency rule, which imposed limits on daily dosing. Additionally, the report highlighted a consistent pattern where few certified doctors accounted for a significant portion of medical marijuana certifications.

In FY 2022–2023, 859,026 individual patients were enrolled, an increase from 757,600 in the previous year. In fiscal 2020–2021, the patient count was 607,220, indicating a noticeable upward trend. However, monthly enrollment has gradually declined from year to year.

According to the report, new patient enrollment increased by 27% between January 2020 and January 2021 and then fell by 6% between January 2021 and January 2022. In 2023, month-to-month enrollments fell by 3%, with 20,977 new patients being enrolled in June 2023.

When it came to qualifying conditions, the report highlighted post-traumatic stress disorder (PTSD) as the most prevalent condition, constituting 40.2% of reported cases. Other common conditions included extreme nonmalignant pain at 13.4%, multiple sclerosis at 8.8% and cancer at 3.6%. Moreover, 25% of patients met the eligibility requirements for conditions that were either similar to or of the same kind as those that were listed, with chronic pain, anxiety and various conditions related to the digestive system being prominent.

Physician certifications, crucial for patient participation in the program, exhibited a steady increase. Between the fiscal years 2022 and 2023, the overall yearly number of certifications climbed by 15%, from 1,142,172 to 1,315,123. This growth rate was marginally less than the 24% increase from 2021 to 2022.

Monthly certificates increased by 48% between January 2020 and January 2021 and by 24% between January 2021 and January 2022. In FY 2022–2023, certifications rose by 21%, but at a slower rate from January 2022 to January 2023. June 2023 had 117,313 certificates, a rise from January 2023’s 113,992 total.

The majority of certifications were granted by a small percentage of doctors, which was consistent with previous years’ findings. Only 1% of certificates were issued by the lower 40% of qualified physicians in FY 2022–2023, compared to 84% of certifications issued by 19% of qualified physicians over the same period.

The report delved into detailed lists of the top doctors recommending medical cannabis and low-THC products, revealing that some, who were anonymously identified by a special two-letter code, issued certifications for thousands of patients over the years.

This growing number of patients registering for medical cannabis access suggests that companies such as Trulieve Cannabis Corp. (CSE: TRUL) (OTCQX: TCNNF) have a steady demand for the medical marijuana products that they sell in dispensaries within the state.

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420 with CNW — Thailand Passes Draft Law Reversing Recreational Cannabis Legalization

Thailand’s recent political shift has set the stage for the introduction of fresh marijuana legislation, marking a major turnaround only 18 months after the nation took steps toward decriminalizing the substance.

The initial lenient regulations sparked a flourishing marijuana industry, serving both locals and tourists across southeast Asia. However, the conservative coalition government, which assumed power late last year, has pledged to enforce stricter rules, restricting marijuana usage solely to medical purposes.

Last week, the nation’s health ministry unveiled a draft measure outlining severe penalties, including high fines and potential one-year prison sentences for violators. The proposed legislation expressly limits marijuana and related products to medical applications. This aligns with Prime Minister Srettha Thavisin’s commitment in September to change marijuana regulations within the first six months in office, reinforcing the government’s focus on medical use exclusively.

Although public cannabis consumption has always been illegal, the impending laws go further by prohibiting marketing and advertising campaigns for all marijuana products. An earlier version of the bill faced parliamentary rejection in November, but the current government remains steadfast in its determination to regulate recreational marijuana.

Thavisin has consistently emphasized the severity of the drug-abuse issue in Thailand through various media platforms. The proposed legislation represents a stark departure from the June 2022 milestone when Thailand became the first Asian country to fully decriminalize marijuana, a historic move in a region where severe penalties, including death sentences, are common for marijuana-related offenses.

While medical cannabis gained legal status in Thailand in 2018, full decriminalization allowed for the cultivation, trade and use of hemp and cannabis products without criminal repercussions. The subsequent proliferation of marijuana-related businesses, including cafes, dispensaries and hemp spas, attracted considerable attention, turning cities such as Bangkok and Chiang Mai into hot spots for weed festivals and tourist attractions.

Former health minister Anutin Charnvirakul stated in a CNN interview that the intent of original legislation was never to endorse public recreational marijuana use, emphasizing the promotion of marijuana for medical purposes.

Despite protests from prolegislation advocates, including the Future Marijuana Network, the government appears resolute in its decision to pivot away from the previously permissive stance on marijuana. Kitty Chopaka, a marijuana entrepreneur and advocate based in Bangkok, labeled the government’s move an unexpected response, expressing disappointment while highlighting that the momentum for marijuana as a narcotic has irreversibly shifted.

The ongoing debate underscores the complexities surrounding marijuana regulation in Thailand, impacting various stakeholders from farmers and small business owners to advocates emphasizing the importance of public involvement.

This policy reversal in Thailand could come as a disappointment to entities such as Tilray Brands Inc. (NASDAQ: TLRY) (TSX: TLRY) that had hoped for more international markets opening up on the Asian continent and elsewhere.

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420 with CNW — Data Shows Recreational Cannabis Sales Exhibited Mixed Results for Growth in 2023

Last year saw many regulated recreational cannabis markets record significant growth in their sales. While established markets such as Colorado recorded slight declines in sales, states such as Maine and Arizona saw growth in their markets. Below, we examine adult-use sales using data from regulators in different states.

Arizona

Recreational sales started strong last year, with monthly recreational cannabis sales peaking in March at $100 million. The state launched its adult-use cannabis market in 2021.

Washington State

Adult-use cannabis sales in the state have relaxed since the pandemic, with the state selling only $1.14 billion in recreational cannabis through November last year. The figure is a slight decrease from the $1.18 billion recorded in 2022 for the same period.

California

Despite its record-breaking sales during the pandemic, the marijuana market in California has seen sales slip from late 2021. Between 2021 and 2022, year-over-year sales dropped by more than 10%. In 2023, this figure reduced to 8%, which is promising but still doesn’t represent true recovery.

Michigan

The state, which outsells California when it comes to adult-use cannabis, didn’t record any significant decline in its growth last year. Figures show that year-over-year sales dropped to 48% between 2022 and 2023, from 55% in 2021 to 2022. It is expected that recreational sales will be strong in 2024.

Colorado

Decreasing year-over-year marijuana sales over the last two years brought Colorado’s market value to its prepandemic levels. Figures show that between January and October 2023, recreational marijuana sales reached $1.15 billion. This is slightly lower than the figures recorded over the same period in 2019.

Oregon

Last year, the state’s recreational sales totaled $901 million. This is quite a drop, especially when compared to sales in 2020 and 2021, which surpassed $1 billion. It is expected that adult-use sales in Oregon may recover this year.

Connecticut

The state’s first year of adult-use sales brought in almost $131 million, with forecasts expecting it to reach $145 million.

Maryland

Last year, the state’s new recreational marijuana market raked in $331 million. Its location on the East Coast and its population density make it a market to watch this year.

Maine

Despite the state’s recreational marijuana market hitting new highs in sales last year, its growth has begun to slow. While this is expected in new markets, its decline is a bit more extreme.

Rhode Island

In 2023, the state brought in $74 million in total recreational cannabis sales. This figure is significantly higher than its sales projection of $50 million. Rhode Island’s market is expected to continue growing in 2024.

These successes registered at state level could be because consumers are taking to the legally produced cannabis products made by numerous enterprises such as Verano Holdings Corp. (CSE: VRNO) (OTCQX: VRNOF) and other state-legal cannabis businesses.

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420 with CNW — States with Legal Marijuana Markets See Higher College Applications

New data shows that states that have legalized recreational cannabis recorded a short-term boost in college applications from prospective students. The colleges also received more applications overall. The data was collected in a study, which had its findings recently published in the “Contemporary Economic Policy” journal.

The researchers used the Integrated Postsecondary Education Data System to obtain data on various college metrics, including detailed tuition prices prior to and after financial aid applications, school application numbers and demographic characteristics of students.

The study determined that applications for colleges in states the year that recreational cannabis was legalized increased by more than 5%. It should be noted that the results controlled for tuition prices, school quality and conditions in the labor market, which could affect decisions on student applications.

The researchers also determined that the biggest schools had the strongest gains, observing a 54% rise in applications as compared to similarly sized institutions in states that had not legalized recreational cannabis. Additionally, public universities and colleges benefited more in comparison to private institutions. This is despite the fact that applications for private institutions increased in legal states.

These findings matter because they demonstrate that states legalizing recreational marijuana may benefit institutions of higher learning. Increased applications also afford schools a larger and a higher-achieving pool to select students from and may help improve an institution’s academic profile.

The study’s results fit into a bigger body of research examining what affects student choices when it comes to college applications.

The researchers determined that, similar to how institutions recorded an increase in SAT scores and applications when they had good sports teams, institutions recorded increases when they were located in legal states. The data suggests that students may factor local policies into their choices during college applications.

Team members also analyzed state laws to determine when recreational cannabis would be available to students, noting that as long as recreational cannabis was legally available before the end of January, which is when most applications were due, cannabis could probably impact the application decisions of prospective students.

Despite all these findings, the researchers still cannot ascertain why freshmen who often come straight from high school and haven’t attained the legal age to consume recreational cannabis might base their decisions on the drug’s availability. Additionally, the researchers cannot identify with clarity the portion of applications that come from out-of-state students and helps drive applications following legalization. The researchers are now focused on examining how legalized cannabis affects student outcomes for all learning institutions.

As more studies are done on how the wider community is impacted by cannabis legalization, it could emerge that legal sales from licensed operators such as TerrAscend Corp. (TSX: TSND) (OTCQX: TSNDF) may have more socioeconomic benefits than initially thought.

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420 with CNW — GOP Medical Cannabis Plan in Wisconsin Receives Muted Response

Wisconsin GOP assembly legislators have put forth a proposal aimed at legalizing medical cannabis in the state. The proposal, however, received a tepid response from Governor Tony Evers (D) and senate GOP leaders due to its highly restrictive nature.

Unlike the broader legalization efforts advocated by Democrats and Gov. Evers through the years, the proposed bill focuses on allowing medical cannabis use only for severely ill individuals dealing with chronic diseases such as cancer, glaucoma, HIV/AIDS, chronic pain and nausea. However, the bill introduces certain restrictions, such as limiting distribution to only five state-operated locations and prohibiting the use of smokable cannabis. Instead, various alternative forms of the substance, including liquids, patches, vapors, creams, gels, pills, tinctures, oils, gummies and concentrates, would be permissible. Evers, while expressing support for a medical cannabis program, remained noncommittal about the specifics of the proposal.

For the bill to become law, it must pass both the senate and assembly and receive the governor’s signature. However, the reception from key figures in the senate, including Majority Leader Devin LeMahieu, has been cautious. LeMahieu emphasized the need for thorough vetting before making any decisions on the bill.

Senate Minority Leader Dianne Hesselbein (D) acknowledged the proposal as a small step forward but expressed concerns about its restrictive nature. Meanwhile, Assembly Speaker Robin Vos (R) indicated that the outlined program was the maximum extent to which Republican assembly legislators were willing to go.

The bill entrusts the state’s health services department with determining the exact locations of the five dispensaries. Interestingly, given the legalization of recreational cannabis in neighboring Michigan, Illinois and Minnesota, Wisconsin residents may find closer access to dispensaries in other states. A 2023 report by the Wisconsin Policy Forum highlighted that more than one-half of Wisconsin residents above the age of 21 were within a 75-minute drive of a licensed dispensary in another state.

Under Evers’ 2023 rejected full-legalization proposal, Wisconsin anticipated collecting about $165 million annually in sales taxes. However, the current proposed medical cannabis proposal would not contribute to Wisconsin sales tax revenue.

The bill specifies that patients seeking medical cannabis must have a physician’s diagnosis and can obtain the cannabis only from one of the five state-operated dispensaries. Wisconsin stands out as an outlier nationally, with 38 states legalizing medical cannabis and 24 legalizing recreational cannabis. The momentum for legalization in Wisconsin has grown as neighboring states have relaxed their cannabis legalization laws.

Established enterprises such as SNDL Inc. (NASDAQ: SNDL) and the broader cannabis industry will be watching to see how the regulatory landscape in Wisconsin will shape up in the coming months leading to the November polls.

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420 with CNW — Study Says Marijuana Won’t Enhance Performance But Will Make Exercising More Fun

A new study has found that smoking marijuana prior to a workout can make exercise more enjoyable and boost a person’s motivation. The study, which involved 42 volunteer runners, released its findings almost a decade after Colorado became the first state in the United States to offer legal sales of recreational cannabis.

The investigators took survey data and fitness measurements then assigned each volunteer a dispensary where they could pick a flower strain that contained mostly THC or CBD. Cannabidiol (CBD) and tetrahydrocannabinol (THC) are two of the primary compounds found in marijuana. Unlike TH, CBD doesn’t induce any high.

The volunteers had to go for follow-up visits where they ran on a treadmill for half an hour at a moderate pace. They also answered questions to evaluate how much they were enjoying themselves, how motivated they felt, how fast time seemed to pass, how hard the workout felt and if they felt any pain. The runners wore safety belts while running on the treadmill during the study period.

Across the board, study participants reported more intense euphoria and greater enjoyment. The researchers observed that this heightened mood was greater in the CBD group as compared to the THC group, which suggests that athletes may derive some benefits to mood while using a CBD-dominant strain.

Laurel Gibson, the study’s first author, highlighted that the bottom-line discovery was that marijuana before exercise seemed to increase enjoyment and positive mood during exercise, regardless of whether one used CBD or THC. She further noted that THC products, specifically, could make one use more effort during exercise. Gibson is a research fellow with the Center for Health and Addiction: Neuroscience, Genes and Environment.

The study’s findings as well as prior research by the researchers go against stereotypes that link marijuana with idleness/laziness.

Professor Angela Bryan, the study’s senior author, stated that new tools were needed to try get more individuals to move their bodies in enjoyable ways. Bryan, who specialized in psychology and neuroscience, noted that if marijuana was one of these tools, then it needed to be explored, with both its benefits and harms being considered.

A prior survey on marijuana users conducted by Bryan’s research group determined that 80% of respondents had used the drug before or after exercise. Despite this, minimal studies have been done looking into the link between marijuana and exercise.

The study’s findings were published in the “Sports Medicine” journal in December 2023.

Some prohibitionists have always asserted that marijuana is a performance-enhancing drug, but the cannabis industry and companies such as Curaleaf Holdings Inc. (CSE: CURA) (OTCQX: CURLF) may not be surprised that research has shown that the substance only improves one’s mood and not the workout itself.

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Lexaria Bioscience Corp. (NASDAQ: LEXX) Set to Expedite Human and Animal Studies on DehydraTECH’s Effectiveness on GLP-1 Drugs Following Positive Results from Pilot Study

Lexaria, a global specialist in drug delivery platforms, just announced the final results from its recently completed human Pilot Study #1 on the effectiveness of its patented DehydraTECH(TM) technology on the oral delivery of GLP-1 drug, semaglutide
The results showed improved delivery of semaglutide to the bloodstream, with the drug showing approximately 44% higher levels than the control 24 hours after ingestion of a single dose
DehydraTECH GLP-1 processed semaglutide also proved to be better tolerated than the control, with the latter resulting in some cases of moderate nausea and diarrhea
This milestone brings Lexaria closer to tapping into the diabetes and weight loss treatment market and sets the company up for what is expected to be its best year

Lexaria Bioscience (NASDAQ: LEXX), a global innovator in drug delivery platforms, just announced the final results from its recently completed human Pilot Study #1 that sought to evaluate the effectiveness of its patented DehydraTECH(TM) technology on the oral delivery of the glucagon-like peptide-1 (“GLP-1”) drug semaglutide, available commercially in the branded product Rybelsus(R). The drug is approved by the Food and Drug Administration (“FDA”), given its role in promoting insulin production in the body, which ultimately reduces blood glucose (https://cnw.fm/nzOMg).

Most notable from its pilot study was the improved delivery of semaglutide to the bloodstream, which significantly improved blood sugar control. For one, in just 20 minutes after oral administration, the DehydraTECH GLP-1 blood semaglutide level was about 261% higher than that of the Control, a statistic that reflected the technology’s ability to deliver drugs into the bloodstream faster. In addition, 24 hours after the ingestion of a single dose, the DehydraTECH GLP-1 blood semaglutide levels were approximately 44% higher than the Control levels.

The Rybelsus control witnessed a large increase in blood-glucose levels after eating a standardized meal at the 240-minute mark and a standardized snack at the 360-minute mark. But the DehydraTECH processed Rybelsus continued to reduce blood glucose even after eating. In addition, even as long as 24 hours after dose administration, Lexaria’s DehydraTECH GLP-1 showed a 5.01% reduction in blood glucose level relative to baseline, an indicator of greater efficacy in achieving blood glucose reduction, and helping attenuate the postprandial spikes in blood glucose experienced in the control group.

DehydraTECH GLP-1 processed semaglutide also proved better tolerated than the Rybelsus tablets, with the latter resulting in instances of moderate nausea and moderate diarrhea.

Lexaria first announced its intention to explore DehydraTECH’s effectiveness on GLP-1 drugs in September 2023. From the beginning, the goal was to achieve superior pharmacokinetic (“PK”) performance with the technology with reduced side effects and enhanced health benefits. With the just-released final results, Lexaria has achieved these objectives and more, ultimately setting itself up for additional human and animal studies in the 2024 calendar year.

This milestone brings Lexaria closer to tapping into the diabetes treatment market, valued at $92.97 billion in 2023 and projected to reach $118.77 billion by 2028 (https://cnw.fm/sjBsw). It also marks an excellent start to the new year 2024, propping the company up for what will be its best year yet. Lexaria is already preparing for other human and animal studies to continue, details of which will be shared in the coming weeks.

For more information, visit the company’s website at www.LexariaBioscience.com.

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

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420 with CNW — Florida GOP Lawmaker Proposes Bill to Restrict THC potency If Voters Approve Recreational Marijuana

With the prospect of a potential November vote in Florida on cannabis legalization, a GOP legislator, Representative Ralph Massullo, has introduced a measure that would establish strict restrictions on THC potency in the event of voter approval. Introduced last week, Massullo’s measure suggests a THC cap significantly lower than the prevailing limits in most cannabis markets.

The proposed limitations would become effective 30 days after voters endorse any future constitutional amendment endorsing legalization. The measure proposes a 10% THC limit for smoking-related marijuana products and a 60% limit for other cannabis products, such as extracts. The highest amount of THC allowed in edibles under this legislation would be 200 milligrams, with a 10-milligram cap on each serving.

Such stringent limits could pose significant challenges in commerce and logistics within the potential recreational cannabis market, likely drawing backlash from stakeholders, advocates and consumers. Notably, the average THC content in marijuana flower sold at recreational or medical dispensaries usually ranges between 20% and 30%. This mirrors the existing scenario in the state’s medical marijuana market, where the measure’s focus on “recreational use potency limits” may create complications by establishing different THC regulations for recreational consumers and patients.

Contrastingly, Florida’s current medical marijuana dosage limits, revised in 2022 amid some controversy, do not depend on THC percentage. The bill introduces a complex definition of potency, specifically addressing cannabis dispensed to a caregiver or patient in terms of relative cannabinoid strength and total THC content.

The bill seems to specifically target the impending legalization vote initiative awaiting the outcome of the state’s Supreme Court ruling. A legal challenge against the reform put up by Smart and Safe Florida, which gathered almost a million signatures to qualify for the ballot, is being led by the state’s attorney general, Ashley Moody. Even though the court heard oral arguments in November, its position on the initiative is still unknown.

Crucially, the ballot measure itself does not establish THC potency limits. Therefore, Massullo’s bill could potentially preempt the initiative, preventing voters from deciding on the matter independently. This legislative strategy is reminiscent of moves made by Ohio GOP legislators after voters approved a recreational cannabis legalization bill. In Ohio, efforts are underway to amend the marijuana law significantly, with similar discussions about implementing THC potency limits.

Meanwhile, a Florida GOP senator filed a measure last month that would permit approved medical cannabis companies to qualify for tax deductions from the state otherwise not allowed at the national level due to code 280E.

The struggle for reforms isn’t only playing out in Florida. Even jurisdictions where companies such as Cronos Group Inc. (NASDAQ: CRON) (TSX: CRON) have their own issues and efforts to bring incremental improvements are underway.

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