420 with CNW — Makers of THC-Infused Drinks Seek Adults to Participate in Observational Study

A group of cannabis beverage companies is launching a large-scale research project focused on how THC-infused drinks might affect alcohol use, mood, and overall well-being. The study is open to up to 2,000 adults who will receive complimentary marijuana beverages to use during the research period.

Other industry firms like Curaleaf Holdings Inc. (CBoe CA: CURA) (OTCQX: CURLF) will keep an eye on this study and…

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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 — Narcotics Officials Say Oklahoma’s Black Market Cannabis Exceeds $100bn in Value

The illegal cannabis market in Oklahoma has ballooned to billions of dollars, according to recent data from the Texoma High Intensity Drug Trafficking Area and the Oklahoma Bureau of Narcotics.

According to Donnie Anderson, director of the bureau, the state’s tracking system missed about 70 million pounds of cannabis between March last year and this year, which is roughly 30 times more than what is required to meet the demand of the state’s 300,000 registered medical cannabis patients. This is a sharp rise from the 22 million pounds unaccounted for between 2022 and 2023, showing a nearly threefold increase in just two years.

Despite ongoing enforcement efforts, Oklahoma’s underground cannabis trade continues to grow. A state official suggested that the rising numbers may not indicate a spike in production but rather improved compliance with reporting requirements due to stricter oversight.

The newly released report, commissioned by U.S. Senator James Lankford, links the surplus production to unlawful operations run by Chinese criminal networks.

During a press conference on Friday, officials stressed the need for stricter legislative action. Anderson recommended that lawmakers conduct a formal investigation to ascertain the state’s actual medical cannabis needs and establish production limits accordingly. Unlike most states, Oklahoma does not cap the amount of cannabis growers can produce, contributing to unchecked growth.

However, not all state leaders share this viewpoint. Lonnie Paxton, the state Senate President Pro Tempore, stated in February that law enforcement already has the necessary resources to handle the issue and does not believe additional legislation is required.

Under Oklahoma cannabis law, every marijuana plant must be tagged for tracking purposes. Authorities explain that illegal growers often tag plants initially to appear compliant but later remove these tags before diverting the product to unregulated markets. To estimate the volume of marijuana entering the illegal market, officials analyze tracking data and production assumptions.

Prices in the illicit market fluctuate but typically range between $1,800 and $3,500 per pound. Based on these estimates, the diverted cannabis supply could range from $126 billion to $245 billion. For perspective, the state oil sector generated about $55.5 billion in 2023.

The report also outlines significant concerns beyond financial losses. Illegal marijuana operations have led to extensive human trafficking, potential national security threats, and environmental damage. Thousands of foreign workers have been subjected to abuse and exploitation on these farms, and some individuals involved in the state’s cannabis industry have connections to Chinese government-linked activities within the United States.

Licensed cannabis firms like Curaleaf Holdings Inc. (CSE: CURA) (OTCQX: CURLF) have long had concerns about the disruptive and risky effects of the continued existence of black market marijuana. They are therefore likely to support every undertaking taken to curb illicit marijuana proliferation not just in legal markets but in all communities.

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 — This New THC-Free Marijuana Compound Could Replace Opioids

A recent study from the University of Arizona Health Sciences suggests that terpenes found in the marijuana plant may offer a new way to manage post-surgical and fibromyalgia pain. The study expands on prior research conducted by Comprehensive Center for Pain and Addiction member Dr. John Streicher, who previously explored the pain-relieving properties of terpenes in cases of inflammation and nerve pain caused by chemotherapy.

According to Streicher, terpenes do not seem effective for immediate pain relief, such as injuries from burns or stubbing a toe. However, they show promise for pathological or long-term pain conditions. This study marks the first preclinical examination of terpenes in treating post-surgical and fibromyalgia pain, expanding potential non-opioid treatment options.

The research team focused on four terpenes commonly found in marijuana: alpha-humulene, geraniol, beta-caryophyllene, and linalool. In mouse models, all four provided significant pain reduction, with geraniol showing the most substantial effect.

Fibromyalgia, a chronic condition affecting muscles and soft tissues, impacts up to 5% of the global population, according to a 2023 study. In the U.S., approximately 4 million adults suffer from the condition, with women being more affected than men. Current treatments for fibromyalgia are limited, making new approaches like terpene-based therapy particularly important.

Post-surgical pain exists between chronic and acute pain, typically resolving in a short time but sometimes leading to complications due to heightened pain sensitivity and inflammation. While opioids are commonly prescribed for such pain, they can cause side effects like constipation, which may increase the risk of adhesions.

Streicher and his team are investigating alternative solutions, and their findings suggest terpenes could serve as a new therapeutic option.

Each year, around 310 million major surgical procedures take place worldwide. Given the widespread need for post-surgical pain management, identifying non-opioid treatments is a critical area of research.

The Comprehensive Center for Pain and Addiction’s director, Dr. Todd Vanderah, stressed the value of basic research in the development of novel therapies. He pointed out that many chemical compounds with unrealized medical potential are produced by plants, including marijuana. To illustrate how nature still produces surprising medical advances, he likened this to semaglutide (Ozempic), a drug created from a chemical found in the Gila monster.

The study also confirmed that terpenes interact with the adenosine A2a receptor, the same target as caffeine. This finding suggests that terpenes may have sedative effects, opening avenues for further research into their broader therapeutic potential.

Marijuana firms, such as Curaleaf Holdings Inc. (CSE: CURA) (OTCQB: CURLF), are likely to take an interest in such studies since they could open opportunities for them to develop products geared at addressing the medical needs of specific symptoms afflicting their clients.

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 — Germany’s Growing Marijuana Industry Holds its Breath as Elections Loom

Germany is set to hold its national elections on February 23, 2025, a pivotal event that will determine whether the Social Democratic Party (SDU) retains leadership or whether power shifts to the Christian Democratic Union (CDU).

The outcome of this election is of particular interest to the country’s emerging marijuana industry, which has seen significant legislative progress under the SDU and its governing allies. The most significant changes included reforms that greatly expanded access to medical marijuana, leading to a surge in patient numbers.

Additionally, although limited, a new recreational cannabis legislation was introduced, opening discussions about the possibility of a regulated commercial market.

These legal shifts have attracted interest from international marijuana businesses, particularly from Canada and the U.S., which are establishing a foothold in Germany in anticipation of further industry growth.

However, if the CDU secures victory, the pace of marijuana reform could slow down or be reversed. Despite this uncertainty, Germany’s marijuana market remains dynamic, with promising growth opportunities.

The most substantial growth has come from imports, with Canadian firms maintaining dominance in the market. A notable example is Curaleaf Holdings Inc. (CSE: CURA) (OTCQX: CURLF), a New York-based company. In 2022, Curaleaf acquired a majority stake in Four 20 Pharma, a German firm licensed to produce and distribute medical marijuana under stringent EU-GMP and GDP standards. This acquisition has given Curaleaf a strong presence in one of the world’s key marijuana markets.

Germany has permitted medical marijuana since 2017, though initial regulations were restrictive and kept patient numbers relatively low. A significant policy shift occurred on April 1, 2024, when cannabis was removed from the country’s narcotics list.

This change simplified the process of obtaining medical cannabis prescriptions, allowing patients to access their medication through regulated pharmacies. The new system enables individuals to consult with doctors via telehealth services, receive a prescription, and fill it at any pharmacy.

On the recreational front, the German government introduced the Cannabis Act, which permits the formation of social cannabis clubs for cultivation, though commercial sales remain prohibited. Members of these clubs can grow marijuana for personal use and share it with fellow members, but no transactions are allowed.

Each club can accommodate up to 500 members, with each individual permitted to acquire a maximum of 50 grams of marijuana in a month. However, consumption on club premises is not allowed. The act also decriminalized possession, allowing adults over 18 to carry up to 25 grams in public and store up to 50 grams at home. Additionally, individuals can cultivate up to three plants per household.

The next step for the German marijuana industry involves launching a recreational use pilot program, set to be implemented following the elections. This initiative will allow businesses and research institutions to apply for licenses to distribute cannabis for recreational use. Unlike the medical market, which remains tax-exempt, this program would generate government revenue through taxation, marking a significant shift in the country’s approach to cannabis regulation.

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 — Pain Increases Odds of Cancer Patients Using Marijuana, Tobacco

A recent study published in the journal Cancer suggests that cancer survivors experiencing pain may be more likely to use cannabis and cigarettes. The research also highlights a link between cigarette smoking, pain, and an increase in side effects related to treatment, ultimately leading to poorer health outcomes for cancer survivors.

Chronic pain, generally described as pain lasting three months or longer, affects approximately 30 percent of cancer survivors. In those with advanced stages of the disease, the prevalence can rise to 50%. As cancer treatments improve and more individuals live longer after their diagnosis, the number of survivors dealing with long-term pain often grows.

Pain often coincides with the use of substances such as e-cigarettes, cigarettes, cannabis, and alcohol for most people.

To better understand how pain influences non-opioid use among cancer survivors, researchers examined data from two nationwide surveys in the United States. These included 4,130 participants from the 2020 National Health Interview Survey (NHIS) and 1,251 adults from 2021’s Wave 6 of the Population Assessment of Tobacco and Health (PATH) Study.

The study also explored how substance use and pain relate to mental well-being, self-perceived physical health, quality of life, and other symptoms associated with cancer treatment. Separate regression analyses were conducted for each data set.

Findings from the PATH Study indicated that individuals who experienced higher pain intensity in the past week were more likely to use cannabis, e-cigarettes, and cigarettes, while they were less likely to consume alcohol. Data from NHIS similarly showed that chronic pain was linked to a higher probability of cigarette use but a lower likelihood of alcohol consumption.

Despite its significant findings, the study had some limitations. Since the research relied on self-reported data, there is potential for bias. Additionally, its cross-sectional design prevents researchers from establishing a cause-and-effect relationship between substance use and pain. Nevertheless, the findings offer important insights into the need for comprehensive care approaches.

The study’s authors emphasized that addressing both substance use and pain together in cancer care is crucial. They noted that pain can lead individuals to turn to substances, while substance use can, in turn, worsen pain, creating a challenging cycle to break.

Although some cancer survivors may use cigarettes or other substances to manage pain and cope with symptoms, doing so may have severe health consequences. It can reduce the efficiency of cancer treatment and raise the risk of recurrence. Marijuana industry players like Curaleaf Holdings Inc. (CSE: CURA) (OTCQX: CURLF) can therefore help in spreading awareness about the potential side effects of medical marijuana so that patients are empowered to make informed decisions.

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 — New Hampshire House Committee Discusses Measure to Legalize Recreational Cannabis

A House committee in New Hampshire recently convened to discuss one of three different proposals aimed at legalizing recreational cannabis in the state. The committee reviewed House Bill 186, introduced by Representative Jared Sullivan.

The proposal would permit adults from age 21 to possess up to ten grams of concentrate and two ounces of cannabis flower. It would also allow individuals to cultivate up to six marijuana plants for personal use at home.

Consumers would have the opportunity to purchase lab-tested and labeled products from stores regulated by the state. HB 186 is one of two legalization measures that Representative Sullivan has presented in this legislative session. The other proposal, House Bill 198, would legalize home cultivation and possession but does not include provisions for commercial sales.

The legislation discussed this week draws heavily from a similar measure that legislators nearly passed in the previous session. House Democrats, however, ultimately put the bill on hold after some of them voiced misgivings about its suggestion of a state-run franchise system.

Sullivan highlighted key changes in the new measure, including a lower tax rate. Instead of creating a new, marijuana-specific tax, the bill proposes using the state’s existing meals and room tax. Additionally, it seeks to establish an independent marijuana commission to set regulations and oversee the market, a shift from last year’s proposal, which would have placed oversight under the state’s liquor commission.

The committee listened to public testimony but didn’t make any immediate decisions on HB 186. Committee Chair Representative John Hunt stated that the bill would next be examined by a liquor subcommittee. Committee member Representative Merryl Gibbs expressed approval of the updated proposal, praising both the formation of a commission and the decision to base the marijuana tax on the meals and rooms tax.

Representative Heath Howard, co-sponsor of the measure, voiced his support, stressing the importance of providing adults not only with the right to possess cannabis legally but also with a regulated way to access it.

Former Representative Joe Hannon, who has a medical background and previously served on a state opioid committee, also backed the measure. Hannon noted that, without legal options in the state, residents often travel to nearby states to purchase marijuana legally, only to bring it back home.

The state Association of Chiefs of Police provided the only testimony opposing the bill during the hearing.

poll conducted in June revealed that about 65% of New Hampshire adults support marijuana legalization, with nearly 61% backing the previous bill, House Bill 1633.

The entire marijuana industry, including firms like Curaleaf Holdings Inc. (CSE: CURA) (OTCQX: CURLF) will be hoping that the lawmakers in New Hampshire keep the interests of their voters in mind while considering the legalization bills before them.

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 — President Trump to Play Pivotal Role in Marijuana Policy Reform and Rescheduling

With cannabis rescheduling currently on hold indefinitely, the $32 billion industry’s fate hinges on critical decisions—particularly President Donald Trump’s choice of the next Drug Enforcement Administration (DEA) director.

Trump made waves in September by becoming the first presidential candidate from a major party to support a state-level recreational marijuana legalization ballot initiative. However, since then, the topic has not resurfaced in his agenda. It also remained absent during the confirmation hearings for his attorney general nominee, Pam Bondi.

In this information vacuum, speculation has emerged based on Bondi’s record and Trump’s posts on Truth Social. A notable detail is Bondi’s time as a lobbyist for Ballard Partners, a D.C.-based company. Ballard’s client list includes Trulieve Cannabis Corp., a multistate cannabis operator based in Tallahassee, Florida, though Bondi herself is not listed as a lobbyist for the company.

Trulieve’s CEO, Kim Rivers, attended Trump’s inauguration alongside Cresco Labs CEO Charlie Bachtell. Following the event, Rivers shared on X that she had productive discussions on cannabis reform and rescheduling, calling it “a new day” for the industry.

If confirmed, Bondi’s actions—along with Trump’s choice for DEA leadership—could shape the future of cannabis reform. This urgency has heightened after DEA judge John Mulrooney II halted the administrative process to move cannabis to Schedule III. Mulrooney’s January 13 order stopped hearings that were supposed to resume on January 21, citing a request to disqualify DEA director Anne Milgram due to allegations of bias against the process.

Rescheduling would significantly relieve the cannabis sector, allowing businesses to claim standard federal tax deductions currently prohibited under federal law. However, the timing and continuation of the rescheduling hearings remain uncertain. As Mulrooney noted in his order, he could recommend restarting the entire process, but any decision ultimately rests with the next DEA director.

Trump’s first nominee for DEA leadership, Chad Chronister, withdrew his name shortly after being nominated. Trump later claimed he had withdrawn the nomination himself. Observers believe Trump might select someone with deep ties to the DEA, and this seemed likely when Derek Maltz, a long-time DEA official and opponent of rescheduling cannabis, was appointed interim administrator.

Whether Maltz becomes the next director or serves temporarily, many doubt a Trump appointee would oppose his policy stance. Similarly, the GOP-controlled Congress is unlikely to challenge Trump’s directives, despite cannabis advocates’ efforts to push reform.

Under Biden, marijuana reform efforts stalled, including a Senate bill for banking protections that never reached a full vote. Blame for this failure varies, with some pointing fingers at the Republican opposition, while others blame Chuck Schumer, the former Senate Majority Leader. Speaker of the House Mike Johnson and Senate Majority Leader John Thune are not seen as advocates for cannabis reform.

Should the Trump administration prioritize rescheduling, it could drastically alter the trajectory of marijuana policy in the United States. All the eyes of marijuana industry actors like Curaleaf Holdings Inc. (CSE: CURA) (OTCQX: CURLF) will be on the new team in Washington, D.C. to see what decisions they make and how those decisions shape the future of the industry.

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 — Data Shows After Ohio Legalized Marijuana, Fatal Car Crashes Have Dropped

Recent data released by the Ohio State Highway Patrol (OSHP) shows that since cannabis legalization came into effect in the state, fatal traffic accidents connected to marijuana use have decreased by 30%. This contradicts concerns raised by critics of legalization who predicted an increase in deadly crashes caused by impaired drivers under the influence of marijuana.

Ohio voters approved recreational cannabis legalization in November 2023 and the law went into effect the following month, allowing for legal possession and use. Retail sales began in August 2024.

The state had 1,067 fatal road accidents last year—the lowest figure in the last five years and a 7% decline from the 1,150 crashes recorded in 2023. Among these, 215 accidents, or about 20%, were linked to marijuana—a drop from 306 crashes (27%) tied to cannabis the previous year.

Operating a vehicle under the influence (OVI) arrests also decreased last year, with 644 fewer cases recorded than in 2023. Marijuana-related OVI arrests specifically saw an 83-case decline in 2024 compared to the prior year. In 2023, law enforcement reported 15,276 OVI arrests, of which around 10% (1,454) involved cannabis. By 2024, the total arrests had dropped to 14,632, and marijuana-related arrests accounted for 1,371 of those—a 6% decrease.

Tragically, 242 people lost their lives in crashes thought to be caused by cannabis use in 2024. However, this is a significant improvement—28% fewer fatalities than the 335 recorded in 2023. It’s also the lowest number of such deaths since 2020. Marijuana-related crashes in general fell as well, with 1,171 incidents reported in 2024—the lowest since 2020 and a 12% decrease from 2023.

Beyond traffic incidents, overall drug arrests by OSHP dropped significantly after marijuana legalization. In 2024, there were 5,458 fewer drug arrests compared to the prior year, representing a 66% decline. Arrests for all drug-related offenses have steadily decreased since 2021, with 12,528 arrests recorded that year. The numbers fell to 8,385 in 2022, 8,215 in 2023, and just 2,758 in 2024.

While OSHP noted that the current data is preliminary and might change as more toxicology results become available, these trends suggest a clear decline in cannabis-related traffic deaths. Reports from state regulators also revealed that legal marijuana sales in the state exceeded $242 million in 2024. According to regulators, 32,486 pounds of plant material and 4,007,127 units of manufactured items have been sold.

These statistics prove that marijuana legalization and the licensing of entities like Curaleaf Holdings Inc. (CSE: CURA) (OTCQX: CURLF) doesn’t lead to a spike in fatal crashes. Instead, systems are created, such as education campaigns, to encourage responsible use. As a result, communities reap the benefits of this substance while also keeping any attendant risks minimal.

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 — NORML Analysis Shows at Least 35,000 Studies Were Done on Cannabis in the Last 10 Years

A recent NORML analysis has revealed that over 4,000 scientific papers focusing on cannabis were published globally in 2024. This marks the fourth year that research output has reached this level.

Since 2014, over 35,000 cannabis-related studies have been released, according to NORML. These publications reflect an increasing emphasis on exploring the plant’s therapeutic benefits and the societal impacts of legalization laws.

Paul Armentano, NORML’s Deputy Director, shared insights in a blog post, noting that the past decade has seen an exponential rise in marijuana research. “Contrary to the belief that cannabis lacks sufficient scientific investigation, researchers have significantly deepened their understanding of cannabis, its active compounds, mechanisms, and its effects on users and society,” he stated. He further called on policymakers to shift their focus from uncertainties about marijuana to evidence-based discussions that reflect current knowledge.

NORML’s analysis involved a keyword search on PubMed.gov, a National Library of Medicine resource. The group reported that PubMed now lists over 49,500 scientific articles on cannabis, dating back to 1840. Interestingly, about 70% of these studies were published in the last decade, and over 90% have been added since 2002.

The research output for 2024 slightly trails the record set in 2022 when over 4,300 cannabis-related studies were published. However, the numbers still reflect a consistent upward trend compared to the previous decade, during which 32,000 studies were recorded.

Recent publications explore a variety of topics. For example, some studies highlight how cannabis legalization has reduced the rate of opioid overdose. Others discuss the plant’s ability to alleviate pain as effectively as morphine, and its role in improving the quality of life for patients with conditions like autism, epilepsy, and chronic pain.

Further research examines the effects of legalization on drug prescriptions. One study found that access to medical cannabis in Utah reduced opioid use among pain patients. Another revealed that incorporating marijuana into state prescription monitoring programs led to fewer prescriptions for narcotics.

Scientists have also delved into marijuana’s chemical components, including compounds like terpenes and minor cannabinoids. A study on cannabigerol (CBG) suggested it could help treat various conditions, including cancer and inflammation.

These studies represent just a fraction of the ongoing research into marijuana’s scientific, cultural, and legal dimensions as legalization continues to expand across the U.S., and federal reforms remain a topic of discussion in Congress. Industry actors like Curaleaf Holdings Inc. (CSE: CURA) (OTCQX: CURLF) hope that this growing body of scientific literature on marijuana helps to shape future drug policy in different jurisdictions.

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 — Marijuana Prices Gradually Reduce as Ohio’s Legal Market Grows

Data released by the Ohio Division of Cannabis Control shows that the price of marijuana has slowly been reducing since adult-use sales were launched this past summer. Dispensaries have reported slow-starts to the recreational program, indicating that vendor costs, confusion among consumers, and the state’s regulations may have contributed to this.

Under state law, licensed dispensaries aren’t allowed to sell marijuana cultivated or purchased outside the state. This has led to a decrease in vendor prices. State records also show that when adult-use sales were launched in August, the manufactured sales average for marijuana product was $31.06 while the average cost of one-tenth ounce of flower was $26.59.

As of last week, the manufactured sales average was $28.70 while the average cost of one-tenth ounce of flower was $21.72.

Terrasana’s director of marketing Nikki Stanley revealed that while they were seeing more traffic after recreational use of marijuana was launched, it still didn’t meet the expectations. Prior to the state approving Issue 2 which allowed individuals aged 21 and above to legally cultivate and use cannabis, most Ohioans were travelling to Michigan to get their marijuana fix.

Even after the recreational-use law going into effect, it appears residents in Ohio are still travelling to Michigan for marijuana. Data from Headset shows that in the last 2 years, Michigan’s marijuana market has recorded over $263 million in total sales.

With regard to sales, $178.5 million in total product sales had been recorded in Ohio as of last week.

Stanley has revealed though that dispensary marijuana prices have also been affected by potency, with higher THC content pushing prices higher. This has made products with higher potency very popular among consumers and while there’s a lot that makes a product good, new consumers seem hell bent on getting products with the highest THC.

The state’s recreational use program imposes a 10% excise tax on all adult-use purchases, with towns that have dispensaries operating in their jurisdictions receiving 36% of the funds generated.

The state has also allocated some taxes towards a substance abuse and addiction fund and a social equity fund, among others.

In addition to this, the program applies a sales tax to cannabis purchases. While the base tax rate is about 5.2% in the state, counties are allowed to impose additional sales taxes on purchases. In Green County, the total tax rate as of this year is 6.75% while in Montgomery County, it’s 7.5%.

The trend being witnessed in Ohio mirrors to a large degree what other jurisdictions in which leading firms like Curaleaf Holdings Inc. (CSE: CURA) (OTCQX: CURLF) operate saw as the markets in which they are licensed had just launched.

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