420 with CNW — Cannabis Firms Uplist Stocks in Canada in Preparation for US Listing

Multiple marijuana multistate operators (MSOs) are elevating their stock listings in Canada to higher-tier exchanges, setting a trend that more are likely to follow. However, their main objective appears to be listing on U.S. exchanges such as the NASDAQ or the New York Stock Exchange (NYSE).

The shift involves MSOs moving from the lower Canadian Securities Exchange (CSE) to the Cboe Canada Exchange or the Toronto Stock Exchange (TSX). This transition holds potential advantages, including increased liquidity and trading volume, access to institutional investments, and meeting stricter listing requirements, aligning these companies closer to conditions necessary for listing on the NYSE or Nasdaq.

Matt Karnes, founder of GreenWave Advisors, a New-York-based marijuana investment research company, states that the move to uplist is a preparatory step for these companies to position themselves better for a potential transition when federal policies, such as legalization, allow U.S. exchange listings for plant-touching companies.

Some of the MSOs that are uplisting include TerrAscend Corp. (TSX: TSND) (OTCQX: TSNDF), based in Toronto, which moved to the TSX from the CSE in July. Additionally, Verano Holdings, headquartered in Chicago, made a move from the CSE to Cboe Canada, while Curaleaf Holdings, based in New York, is in the process of transitioning from the CSE to the TSX.

The shift from the CSE to larger exchanges has provided these MSOs with increased access to a broader investor base, solving issues related to institutional investment and enhancing trading volume. TerrAscend’s executive chair Jason Wild noted the company’s increased trading volume and access to institutional investors since joining the TSX.

According to Darren Weiss, president of Verano, while listing on a more senior Canadian exchange offers the advantage of quicker access to U.S. equity markets when federal policy changes occur, it is still not on par with major U.S. exchanges such as the NASDAQ.

The primary obstacle for plant-touching cannabis companies listing on major U.S. exchanges like the NYSE or NASDAQ is the federal illegality of marijuana. However, some creative corporate restructuring, as demonstrated by Canopy Growth Corp.’s creation of Canopy USA, has allowed for a workaround to list on the TSX. TerrAscend also engaged in similar restructuring to meet TSX listing requirements, while Verano found a more straightforward path via Cboe Canada without needing significant restructuring.

The increasing trend of MSO uplisting in Canada is likely to continue, according to Karnes, unless U.S. regulatory or legislative reform permits domestic stock listings for plant-touching cannabis companies. That would allow these companies to bypass the Canadian exchanges and list directly on U.S. exchanges. However, the timing and likelihood of such reforms remain uncertain.

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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 — Bipartisan Bill to Legalize Cannabis Federally Is Reintroduced in Congress

A Republican has reintroduced a bipartisan measure that would legalize cannabis at the federal level to Congress. South Carolina Republican Representative Nancy Mace reintroduced the States Reform Act, a measure to amend the federal Controlled Substances Act and allow cannabis at the federal level.

The proposal is currently acting as a placeholder and has no text. Even so, it is cosponsored by Republican Representatives Matt Gaetz (Florida) and Tom McClintock (California) as well as Democratic Representatives Dean Phillips (Minnesota) and David Trone (Maryland).

Democrats have largely been behind America’s decade-long wave of cannabis reform and are currently working to legalize the controversial plant at the federal level. However, even though the States Reform Act was introduced by a Republican and has bipartisan support, it has little chance of advancing past the House with new Speaker Mike Johnson in charge.

A prior version of the cannabis legalization bill that was introduced in late 2021 would have eliminated marijuana from the Controlled Substances Act, levied a 3.75% federal excise tax on cannabis sales and let states decide on other regulatory issues. It attracted significant attention because it was the first Republican-introduced measure to legalize cannabis at the federal level and had six Republican cosponsors.

Observers at Capitol Hill expected Mace to reintroduce the measure earlier this legislative session, but Mace’s involvement in the House speaker drama likely took her attention away from the measure. There has been evidence of strife between House leadership and Mace from early 2023, and she was part of a group of far-right Republicans who voted to remove Kevin McCarthy as the House speaker.

Consequently, many observers believe that any Mace-led legislation, especially a federal cannabis legalization measure, would not be successful.

New House speaker Mike Johnson is a conservative Louisiana Christian with a long history of opposing marijuana reform. Johnson voted against each marijuana reform bill while he was in Congress and will most likely maintain his prohibitionist stance now that he is the House speaker.

He opposed efforts to expand cannabis banking access in 2019 and 2021 and has shown that he is against even the most modest cannabis reform efforts. In 2020, Johnson was part of a group of Republicans who ridiculed a coronavirus relief measure for including cannabis-related language and questioned why the word “cannabis” was mentioned 68 times while the word “job” appeared only 52 times.

In the meantime, most federal business on Capitol Hill is on hold until Congress passes much-awaited spending bills before Nov. 17, 2023. Enterprises such as Green Thumb Industries Inc. (CSE: GTII) (OTCQX: GTBIF) that are intent on extending their footprints to most of the United States eagerly await reforms that will make this possible.

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420 with CNW — Study Shows Opioid Prescription Rates Reduce When Patients Can Legally Access CBD

A recent study investigating the impact of CBD availability on opioid prescriptions has revealed that although legalizing CBD alone does not automatically reduce the rate of opioid prescriptions, making legal CBD products readily available and affordable has significantly reduced the number of opioid prescriptions by approximately 8.1%.

The study, which was recently published in the “Journal of Southern Economics,” suggests that three key factors impact the opioid crisis: prescription CBD legalization, regulations that limit CBD purchases and access through CBD dispensaries.

To conduct the study, the authors scrutinized state laws concerning restricted-access, CBD-only regulations in states such as Texas, Iowa and Tennessee from 2010 to 2019, which allowed the prescription of CBD products to patients with specific medical conditions. The study acknowledges that during this period, the CBD market was expanding rapidly, with over-the-counter (OTC) use growing at the fastest rate. However, in the early stages of the study, OTC CBD products were not generally accessible because the majority of states had not yet created industrial hemp programs until 2016.

While the presence of CBD dispensaries appeared to have a meaningful impact on reducing opioid prescriptions, this benefit was nullified when strict rules governing CBD access were in place. Additional regulations, such as ID requirements and patient registries, almost entirely negated the positive effects of CBD dispensaries on opioid reduction.

The study indicates that legalizing CBD alone decreased the number of opioid prescriptions, although not as significantly as comprehensive recreational and medical laws. States that had legalized marijuana for both medical and recreational purposes tended to prescribe fewer opioids per 100 residents than states that did not. However, these regions also tended to have healthier populations and higher concentrations of medical professionals, indicating that the variations in opioid use could not be exclusively related to the legalization of cannabis.

Prescription rates for opioids generally decreased during the research period, most likely as a result of the rise in overdose deaths involving opioids. Between 2010 and 2018, states with medical cannabis laws saw a 35% decline in the number of opioid prescriptions, while states without any kind of cannabis legalization saw a 33% decrease.

The findings of the study indicate that the imposition of ID checks or patient registries for CBD purchases did not significantly affect the rates of opioid prescriptions, even in states where CBD dispensaries are present. This, according to the study, underscores the notion that regulatory barriers may impede the potential advantages of legalizing CBD for tackling the opioid problem.

The study concludes by highlighting the need for legislators to carefully weigh the trade-offs between limiting access and regulating CBD for quality since strong regulations impede CBD’s significant influence on the rates of opioid prescriptions.

The evolving laws around CBD and marijuana permitting enterprises such as Cronos Group Inc. (NASDAQ: CRON) (TSX: CRON) to bring innovative products onto the market could help patients find alternatives to opioids and thereby put the brakes on the escalating opioid crisis.

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420 with CNW — Study Finds Higher Increase in Home Valuations in Legal States vs. Cannabis Prohibitionist States

Home values in states with legal cannabis markets have grown at significantly faster rates over the past decade compared to prohibitionist states. According to a Leafly and Real Estate Witch study, homes in cannabis states are 41% higher in value than homes in states without legal cannabis markets.

The paper looked at the potential impact of recreational or medical cannabis markets on average American home prices from 2014–2023.

Although states such as California began legalizing medical cannabis more than a decade ago, the past decade has seen a multitude of states legalize the controversial plant. With dozens of states now allowing medical and recreational cannabis, tens of millions of Americans now have access to either medical or adult-use marijuana.

However, several states still outlaw both recreational and medical cannabis, meaning there are plenty of Americans who are still criminalized for cannabis possession and use.

Cannabis remains the most used drug in the country, even in states that still criminalize it, and it seems the drug may now be affecting real estate values across the country. The analysis revealed that average home prices in states with recreational cannabis markets increased by $185,075 since 2014 compared to $136,092 in states without adult-use markets.

As a result, average home prices in recreational cannabis states hit $417,625 by the end of the study period while average home prices in nonrecreational marijuana states were 41% lower at $295,338. States with medical marijuana markets also registered faster home value growth compared to states without medical cannabis reform, growing by an average of $166,609 since 2014 compared to $137,320 in prohibitionist states.

According to the report, it isn’t surprising that states that embraced cannabis reform are registering significant increases in home values because real estate always appreciates over time. However, the gap between states with cannabis markets and prohibitionist states “sticks out like a green thumb,” the report noted.

There was even evidence of cannabis reform affecting home values at local levels with cities that had licensed cannabis retailers seeing an average home price increase of $168,292 since 2014. In comparison, cities without cannabis dispensaries saw an increase of only $100,933 in the same period, indicating that cannabis legalization may have some effect on property values.

Leafly vice president of brand and communication Josh deBerge said the report is evidence of what many cannabis community insiders have known for a long time: cannabis reform does not diminish property values. Rather, licensing cannabis firms such as Curaleaf Holdings Inc. (CSE: CURA) (OTCQX: CURLF) boosts demand for residential and commercial property.

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420 with CNW — Study Predicts $260M Addition to Ohio’s Economy After Cannabis Legalization

Despite differing opinions among ardent supporters, cannabis legalization in Ohio could entail certain drawbacks. Nonetheless, an economic analysis published last week suggests that the advantages would surpass these drawbacks by a yearly sum of $250 million. Issue 2, a proposal to legalize recreational cannabis in Ohio, is set for the upcoming election on Tuesday.

A study conducted by Scioto Analysis sought to assess the potential benefits and drawbacks of such a step in a state where medical cannabis is already legal. To conduct the analysis, the research group drew on findings from states such as Colorado and Washington, where recreational cannabis has been legal for some time. To understand how the advantages and disadvantages identified in those states might apply to Ohio, the researchers used demographic and economic data, as well as crime statistics.

The most significant advantage they identified relates to the additional revenue that Issue 2’s passage would generate, thanks to its 10% excise tax in addition to Ohio’s regular sales tax. However, the report clarifies that the benefit doesn’t solely stem from the anticipated yearly tax revenue of $190 million but rather from how a substantial portion of these funds would be utilized.

According to the report, benefits are realized when services and goods procured by governments yield positive spillover effects. The researchers pinpointed positive spillovers from the 25% and 36% of Issue 2’s revenue allocated to the Substance Abuse Addiction and Marijuana Social Equity and Jobs Funds, respectively. Drawing from analyses of similar funds in other states, the group estimated that the Ohio equity and jobs fund would generate $5.76 in benefits for every dollar spent, and the substance abuse fund would yield $9.19. The report suggests that directing revenue to these two funds could potentially create $820 million worth of benefits for Ohioans annually.

Additionally, the new industry would directly create jobs. The report projects approximately $190 million in wage benefits during the first year of legalization for workers across the state, encompassing both full-time and part-time positions.

Recreational marijuana users would also enjoy benefits, as Issue 2 would reduce the annual marijuana expenditure of this group by $98 million compared to what they would pay otherwise. Furthermore, the legalization of recreational marijuana would likely lead to a reduction in arrests.

When it comes to the cons, one significant drawback is the decrease in worker productivity observed in states where legalization has already occurred. Citing a study from 2017, the report suggests that average productivity per worker dipped by just over 1% in certain industries in states that legalized recreational cannabis. Monetarily, this translates to roughly $900 of lost productivity per worker in Ohio. The report utilized federal employment data to estimate that legalization could cost Ohio workers approximately $760 million in lost productivity in the first year alone.

Moreover, concerns about public safety emerge with the possibility of more intoxicated drivers on the roads, leading to increased accidents causing injuries, property damage and even fatalities. The report estimates an additional 1,700 intoxicated-driving arrests annually in Ohio, with an associated cost of $130 million.

Considering these positives and negatives, the study suggests that if Issue 2 is passed, Ohioans could potentially gain annual benefits of $260 million.

This analysis of the forecast benefits of ending marijuana prohibition in Ohio goes to show what an impact companies such as Cresco Labs Inc. (CSE: CL) (OTCQX: CRLBF) might have once a legal cannabis market is launched and entrepreneurs are allowed to address the needs of customers.

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CannabisNewsBreaks – The Cannabis Place Announces Opening of Jersey City Dispensary Location

The Cannabis Place has announced the grand opening of its New Jersey flagship dispensary location this Thursday at 4:20 p.m. ET in Jersey City. The Cannabis Place was founded by CEO Osbert Orduña, a first-generation Latino American of Colombian descent. Orduña grew up in New York City public housing, where he was stopped and frisked for the first time when just 13 years old. He was the first person in his family to go to college and earned his service-disabled veteran designation while deployed in Iraq. He is putting his U.S. Marine Corps and life experience and unique perspective to work as a model for other professionals to follow in the licensed cannabis industry. “We picked this week to open because it’s symbolic in many ways: I am an Iraq veteran; we have the Marine Corps birthday and Veterans Day, so opening Jersey City’s first service-disabled, veteran-owned business makes this week even more special to us and our team,” Orduña said.

To view the full press release, visit https://cnw.fm/Yv39N

About The Cannabis Place

The Cannabis Place is a licensed adult-use dispensary operator in New Jersey and is also a licensed adult-use dispensary operator in New York, where it runs the state’s largest licensed cannabis “free-delivery” service covering all of New York City, Long Island and Westchester. Before its launch, CEO and founder Osbert Orduña visited dispensaries across the country to develop his model for a new kind of cannabis company, which puts people over profits. For more information, visit https://TheCannabisPlace.org

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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 — Connecticut Doubles Recreational Cannabis Purchase Limit

Beginning in December, adults in the state of Connecticut will be allowed to buy up to one-half an ounce of cannabis in one retail transaction. This comes after the state doubled its purchase limit from quarter of an ounce of marijuana.

The state’s Department of Consumer Protection announced the scheduled increase last week, explaining that it was the result of a continuing analysis of demand and supply and was designed to make certain businesses maintain sufficient supply for both medical cannabis patients and adult-use consumers.

It should be noted, however, that the limits imposed on medical cannabis remain unchanged.

The state department’s commissioner, Bryan T. Cafferelli, added that as more production companies, retailers and other licensees in the supply chain came online, the industry’s capacity had increased. Cafferelli noted that they were confident the measured approach to recreational sales had created a healthy market for businesses as well as a fair and safe marketplace for both medical cannabis patients and adult-use marijuana consumers.

Currently, possession of marijuana in the state is capped at one and a half ounces for adults. Adults are also allowed to store no more than five ounces in a locked trunk, glovebox or a locked container in their homes. Cafferelli also highlighted that purchased marijuana needed to remain in its original packaging and be out of reach of children.

The state legalized the recreational use of cannabis via the legislature in 2021. Since then, the state has recorded steady sales. Thus far, the adult-use market has seen a number of consecutive record-setting months of legal purchases. For instance, the state recorded $10.8 million worth of medical marijuana sales and $14.4 million in adult-use sales in September.

It is important to remember that the limits imposed on the purchase of products besides raw marijuana flower are set by equivalence.

Earlier in August, the state also launched a fund to provide support to social equity cannabis businesses. The established loan program will offer financial assistance to help individuals who have been disproportionately affected by the war on drugs to expand their businesses in this burgeoning industry.

In addition, in July of this year, the state legalized home cultivation of cannabis for personal use. It also adopted tax breaks for legal marijuana businesses in the same month. This move to help businesses that cannot make federal deductions under the IRS 280E code is expected to bring in $4.7 million in industry relief for the 2024 fiscal year. Projections from the office of the governor expect this figure to increase in the 2025 fiscal year, reaching $6.2 million.

The growth that is likely to result from this recent adjustment to how much recreational marijuana adults can buy could create opportunities for many local companies to grow to the levels experienced by companies that are licensed in other jurisdictions, such as Canopy Growth Corp. (NASDAQ: CGC) (TSX: WEED).

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420 with CNW — University of Buffalo Professor Receives $3.2M Grant to Study Cannabis Among Cancer Patients

The National Institutes of Health’s (NIH) National Cancer Institute has allocated $3.2 million to fund a study exploring the impact of marijuana use on cancer patients undergoing immunotherapy treatment. The grant, announced by the University of Buffalo (UB), aims to conduct a comprehensive yearlong examination of how cannabis use by cancer patients affects their response to conventional cancer treatments. Specifically, the study focuses on patients undergoing immunotherapy, a treatment known for its reduced side effects compared to chemotherapy.

Speaking at a National Academies of Sciences, Engineering, and Medicine (NASEM) meeting last month, an NCI representative expressed the organization’s desire to support studies looking into the potential benefits of cannabis use in cancer treatment. He stated that while the majority of oncologists have discussed marijuana use with patients, comparatively few were well-informed about the subject.

The study will be a collaborative effort between UB, Oregon Health and Science University, and Thomas Jefferson University. It will be conducted in three separate locations, with each site enrolling 450 cancer patients undergoing immunotherapy treatment.

Studies conducted by UB indicate that approximately 40% of cancer patients turn to marijuana as an option to alleviate pain, enhance their mood and improve sleep quality. Nevertheless, despite cancer and its treatments being qualifying conditions in a majority of states where recreational or medical marijuana use is legal, there is a paucity of long-term studies examining the potential benefits and drawbacks of marijuana use for individuals undergoing immunotherapy.

Lead researcher Rebecca Ashare expressed the need for rigorous research in this domain, stating that although some cannabinoids are known for their anti-inflammatory properties, which can be advantageous in mitigating pain, they may also exert a suppressive effect on immune function.

To conduct the study, the research team will divide the participants into two groups: marijuana users and nonusers. Over the course of one year, the researchers will analyze blood samples, patients’ outcomes and medical records at six separate intervals. The grant will also facilitate a study into the impact of neighborhood disparities on outcomes related to immunotherapy and marijuana use.

Ashare stated that the overarching goal is to significantly impact cancer-symptom-management science and ultimately improve patient care and safety. It will draw upon the collective expertise of a multidisciplinary team well-versed in various domains, including health equity, cancer symptom management, medical marijuana, oncology, substance misuse and immunology.

This study could be of great interest to marijuana businesses such as Trulieve Cannabis Corp. (CSE: TRUL) (OTCQX: TCNNF) because the outcome is likely to provide more information about how cancer patients undergoing immunotherapy can best benefit from medical marijuana.

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Lexaria Bioscience Corp. (NASDAQ: LEXX) Exploring Patented DehydraTECH(TM) Technology’s Effectiveness on GLP-1 Drugs for Potential Diabetes Treatment and Weight Loss

Lexaria, a global innovator in drug delivery platforms, recently announced plans to launch new human and animal studies examining whether its patented DehydraTECH(TM) technology can make GLP-1 drugs better
Lexaria has previously demonstrated DehydraTECH’s overall potential in its DIAB-A22-1 animal study, which yielded weight loss, and improved triglyceride and cholesterol levels among diabetic-conditioned animals
The company plans to replicate the results from this study while also exploring ways to improve the overall bioavailability of GLP-1 drugs for diabetes treatment and weight loss
Lexaria management is optimistic that it will build on previous studies, replicate previous positive results, and improve the overall efficacy of GLP-1 drugs

Lexaria Bioscience (NASDAQ: LEXX), a global innovator in drug delivery platforms, just announced plans to launch new human and animal studies that seek to examine its patented DehydraTECH(TM) technology’s potential on GLP-1 drugs for the treatment of diabetes and weight loss. This announcement follows the recent study results published on “New England Journal of Medicine,” which showed that 49 to 52 pounds weight loss was a common outcome across the 2,539 adult study participants (https://cnw.fm/bP9IJ).

DehydraTECH has demonstrated, in many instances, significant improvement in how active pharmaceutical ingredients (“APIs”) enter the bloodstream with its strong bioavailability enhancing capabilities. Its unique and revolutionary approach has seen Lexaria granted 37 patents for the technology, ultimately safeguarding its applicability, given its growing list of applications ranging from nicotine delivery to NSAIDs, antiviral drugs, cannabinoids, vitamins, and more.

So far, DehydraTECH has demonstrated positive results in diabetes-related studies. Its DIAB-A22-1 animal study yielded at least three positive outcomes: weight loss plus improved triglyceride and cholesterol levels. Reduced body weight, specifically, was realized in just four days after the start of dosing with DehydraTECH-CBD, with peak results achieved nine days after dosing and maintained throughout the 8-week study duration (https://cnw.fm/wfWYV).

Lexaria looks to replicate these results with GLP-1 drugs while also exploring ways to make these drugs better. GLP-1 agonists have been known to help manage blood sugar levels in people with type 2 diabetes. They have also proven effective in treating obesity, a result which has been very much welcomed by consumers and the more than 37 million Americans currently living with diabetes. By doing so, Lexaria looks to carve out a significant market share in the diabetes drug market, projected to hit $82.93 billion in value by 2027 (https://cnw.fm/W7taU).

This commitment builds on the work that Lexaria has been doing with DehydraTECH since 2014. It also reflects the technology’s potential and the company’s confidence in it. Thus far, studies have shown exceptional results, asserting Lexaria as a dominant figure in the drug delivery technology space. Its management is optimistic that as it heads into GLP-1 research, it will build on its previous studies, ultimately improving the overall efficacy of GLP-1 drugs and further demonstrating DehydraTECH’s potential.

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 — Study Finds Increase in Traffic Fatalities in Prohibitionist States, Drop Where Cannabis Is Legal

A new study from Quartz Advisor has found states that legalized cannabis since 2016 registered a “meaningful decline” in traffic fatalities. Interestingly, the paper found that states that have continued to criminalize cannabis possession and use have seen a slight increase in traffic fatalities.

The study goes against the notion that legalizing cannabis would lead to higher rates of driving under the influence and result in more traffic fatalities. While prohibitionists argued that legalizing cannabis would prove to be a danger to the public, this study suggests that ending cannabis prohibition may have a connection with fewer traffic accidents and fatalities.

Researchers concluded that traffic safety shouldn’t be a major concern for cannabis reform initiatives, especially when compared to alcohol, which has much higher traffic accident and fatality rates. They noted that while there has been no evidence connecting cannabis reform with a statistically significant rise in traffic fatalities, alcohol remains widely available despite its role in traffic accidents.

The report relied on traffic fatality data collected from four states — Maine, California, Nevada and Massachusetts — from 2016 to 2019. It then compared this data to national average rates and traffic fatality states in Wyoming, Kansas, Indiana, Nebraska and Idaho, all states where cannabis was illegal.

None of the four states with legal cannabis markets registered an increase in traffic deaths, the paper says. In fact, three of them reported a “significant decrease” in traffic deaths over the study period. Massachusetts saw the largest drop in traffic fatalities (28.6%) while Maine didn’t register any change in traffic deaths.

All four states saw a combined 11.6% drop in traffic fatalities from 2016 to 2019, 1.0% more than the decline in average traffic deaths during the same period (10.6%). The five states without legal cannabis markets registered a 1.7% increase in combined traffic deaths from 2016 to 2019.

However, when the researchers included data from 2020–2021, the traffic death rate for states with cannabis markets went up by 6.0% while states without legal cannabis markets saw a 0.7% reduction in traffic fatalities. Researchers say they excluded data from 2020 and 2021 as the two years ‘were anomalies’ in traffic accident trends.

Traffic fatalities spiked by 18.9% nationally from 2019–2020 after decades of decline while cannabis states saw a 19.9% increase in 2016 and noncannabis states registered a 2.3 decline in traffic fatalities over the same period.

The broader cannabis industry and its main actors such as Aurora Cannabis Inc. (NASDAQ: ACB) (TSX: ACB) is likely to welcome these findings because they dispel the misconception that marijuana legalization results in an increase in road traffic accidents and fatalities.

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