420 with CNW — Pro-Cannabis Legalization Tycoon Becomes PM of Thailand

Thailand’s parliament has appointed Anutin Charnvirakul as the country’s new prime minister after days of tense political maneuvering. Lawmakers voted for him following long negotiations sparked by the dismissal of former leader Paetongtarn Shinawatra.

Only a week prior, Paetongtarn was removed from office when the Constitutional Court declared that she had violated moral principles in managing a boundary dispute with Cambodia. She is the fourth member of the Shinawatra family to be forced out of power before completing a term.

The ruling set off fierce bargaining among parties, with Anutin’s Bhumjaithai party and Pheu Thai working hard to rally support.

Anutin, aged 58, has been in politics for years but first made headlines as the driving force behind Thailand’s decision to decriminalize marijuana. His family controls one of the country’s most influential construction firms, responsible for major projects including Bangkok’s Suvarnabhumi Airport and even the national parliament building.

Over the years, he has held several cabinet positions, including Health Minister and Interior Minister. His most controversial role came during his health ministry tenure when he championed marijuana legalization. Critics argued that the laws were passed too quickly, opening the door to widespread recreational use, but Anutin has consistently maintained that the law was meant for medical purposes.

Speaking outside parliament, Anutin pledged to dedicate himself fully to solving the country’s challenges. He told reporters that he plans to give his full energy to the job and treat every day as an opportunity to deliver results.

To secure his win, Anutin reached an agreement with the reformist People’s Party. Although the People’s Party does not share political values with Bhumjaithai, its leaders argued that the path offered the fastest way to push for reforms. However, the party has declined to join his administration, and some of its supporters remain skeptical that Anutin will keep his word.

Anutin won against 77-year-old lawyer Chaikasem Nitisiri of the Pheu Thai with a 311-152 vote.

The outcome is another setback for former prime minister Thaksin Shinawatra, whose once-dominant influence has weakened since his controversial return from 15 years abroad in 2023. His deal with conservative elites, which allowed his homecoming, has since collapsed. His popularity has slipped, while ongoing legal battles continue to haunt him.

Writing on X, Thaksin said he was in Dubai for medical treatment and meeting old friends, adding that he would return to Thailand to attend court.

Will Anutin’s ascendance to the office of PM result in marijuana policy reforms given his previous efforts to legalize the substance? A policy change would create a large market for marijuana in the country and trigger opportunities for many businesses, not just those directly dealing in marijuana but also other ecosystem players operating akin to Innovative Industrial Properties Inc. (NYSE: IIPR) in the U.S.

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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 — Appeals Court Says Federal Ban on Gun Ownership by MMJ Users Could Be Unconstitutional

A U.S. federal appeals court has ruled that the long-standing ban preventing illicit drug users from owning firearms may not hold up when applied to people who legally use medical cannabis.

The decision came from a three-judge bench of the 11th Circuit Court of Appeals in Atlanta. The case, Florida Commissioner of Agriculture v. Attorney General of the US, was brought forward by several Florida medical marijuana patients who argued that the law unfairly restricts their Second Amendment rights, which guarantee the ability to keep and bear arms.

The court pointed to a 2022 Supreme Court ruling, which emphasized that any restrictions on firearms must align with the historical tradition of gun regulation.

According to the plaintiffs, preventing patients from possessing guns in states where medical cannabis has been legalized does not match that historical framework.

Medical cannabis became legal in Florida in 2016, though cannabis remains classified as an illegal drug at the federal level. Even so, the plaintiffs highlighted that the Justice Department cannot use federal funds to interfere with state-level medical cannabis programs. This protection, they argued, extends to individuals following state law.

The Justice Department countered that banning cannabis users from firearm ownership is consistent with past practices of disarming convicted criminals or people considered dangerous. A district court judge previously agreed with that position.

However, Judge Elizabeth Branch, writing for the appeals panel, noted that the individuals in the case had not been convicted of crimes but were instead engaged in conduct considered a federal misdemeanor. She also observed that the government had not demonstrated that the plaintiffs’ drug use made them dangerous enough to justify stripping them of their gun rights.

Judge Branch’s opinion was backed by Judges Robert Luck and Gerald Tjoflat. She also pointed out that the decision was in line with a similar ruling last year from the 5th Circuit Court of Appeals, which held that a Texas gun owner who used cannabis could not be prosecuted under the federal ban.

Attorney William Hall, representing the Florida plaintiffs, welcomed the outcome, saying that the decision confirmed their stance that the Second Amendment cannot be used to strip medical cannabis patients of their rights. He added that the federal government cannot label all medical cannabis users as too dangerous to exercise their constitutional freedom.

The Justice Department has not yet commented on the ruling. The marijuana industry, together ancillary firms like Innovative Industrial Properties Inc. (NYSE: IIPR), will be watching to see if the DOJ appeals this ruling given that several federal courts have been making differing decisions on this matter and a final position may soon have to be made by the U.S. Supreme Court.

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420 with CNW — Reports Indicate Trump is Privately Considering Cannabis Reclassification

President Donald Trump recently hinted at easing federal cannabis restrictions during a private dinner at his Bedminster club in New Jersey. “We need to review that,” he told a small group of donors, according to two attendees. “It’s something we’re considering.”

During his campaign, Trump had stated that a second term could mark a shift in federal cannabis policy. He expressed interest in giving states more freedom to legalize and in removing marijuana from the same federal category as heroin. This position appealed to younger voters, minority communities, and libertarian-leaning supporters.

However, after seven months in office, no action has been taken, even though other campaign promises have been addressed quickly.

Inside the administration, marijuana reform has created divisions. Some of his political strategists are pushing for quick action, seeing it as a way to strengthen Republican support before the midterms. Others, focused on policy, worry about legal complications and the political risks of loosening marijuana laws.

Public signals about Trump’s plans remain mixed. James Hagedorn, CEO of Scotts Miracle-Gro, noted that Trump has repeatedly promised that he would support reclassifying cannabis to a less restricted category. His company has invested heavily in cannabis-related ventures and donated half a million dollars to a GOP-aligned super PAC.

However, the new DEA chief, Terrance Cole, has not listed cannabis reform as a priority.

Trump’s campaign promise came last year when he posted on Truth Social that he supported a ballot measure to legalize recreational cannabis in Florida. He also said he wanted to move marijuana to Schedule III, a category for substances with lower potential for abuse than Schedule 1, where marijuana currently sits. He has also stated that small-scale possession should not result in jail time.

The current classification review began under President Joe Biden, with the HHS recommending a move to Schedule III. The DOJ started formal steps in 2024, but the process stalled when Biden left office.

The White House has since been gathering agency feedback, weighing potential effects on law enforcement. Some advisors worry that reclassification could make it harder for police to use cannabis odor as probable cause in searches—something Trump has supported in his tough-on-crime stance.

Although Trump’s public tone on cannabis has softened, he remains personally opposed to drug use, shaped by his brother’s struggles with alcohol.

Supporters, including industry groups and influential figures like Joe Rogan, continue to urge him to act, arguing it would create jobs, expand research, and appeal to a majority of Americans who favor legalization.

Any changes to the schedule in which marijuana falls could indeed lead to the mushrooming of not just marijuana companies but also allied firms similar to those operating like Innovative Industrial Properties Inc. (NYSE: IIPR).

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420 with CNW — Missouri Supreme Court Says Local Authorities Shouldn’t Stack Cannabis Sales Taxes

Missouri’s Supreme Court has ruled that counties and cities cannot each apply a separate sales tax on recreational cannabis.

The court stated that under the constitutional amendment passed in 2022, only one local authority may collect a 3% sales tax on cannabis. The local authority can either be a city, town, or village in an incorporated area or a county in unincorporated regions—not both.

The justices pointed out that the amendment’s language ties the term “local government” to the location of the dispensary. That means if a cannabis store is inside a city’s limits, only that city can apply the 3% tax, not the county too.

The decision was based on a case involving Robust Missouri 3 LLC, a dispensary located in Florissant. Customers were being taxed nearly 21%, including 3% from both St. Louis County and Florissant. The court’s ruling invalidates the county’s tax in this situation and affects more than 70 other locations across Missouri where both city and county governments have been collecting a marijuana sales tax.

Judge Zel Fischer disagreed with the majority, arguing that the amendment allows for both cities and counties to apply the tax—even within incorporated areas. He wrote that interpreting “and” to mean “or” leads to an unreasonable outcome and ignores the plain wording of the law. In his view, counties should be allowed to collect taxes within their borders, whether incorporated or not.

Previously, a Missouri appeals court sided with the dispensary, stating that the amendment’s language is clear and doesn’t allow for double taxation by both city and county governments. That decision overturned an earlier ruling that had permitted both levels of government to impose their own taxes on cannabis.

The Supreme Court’s decision also settles a related case, which had been on hold until this ruling. That case involved a Buchanan County judge who had ruled in favor of stacked taxes as well.

Andrew Mullins, who leads the Missouri Cannabis Trade Association, praised the ruling. He said the group filed the legal challenge shortly after dual taxes started appearing in 2023, aiming to defend consumers from unnecessary costs. Mullins estimated that the decision will save buyers around $3 million each month.

He added that cannabis customers in Missouri are already contributing significantly through taxes and that the ruling helps keep prices reasonable while maintaining the program’s strong reputation for quality and access.

As unnecessary double taxes are halted, the marijuana industry could deepen its reach and create opportunities for more entrepreneurs, such as those starting businesses similar to Innovative Industrial Properties Inc. (NYSE: IIPR) that serve cannabis firms without directly engaging in trading marijuana products.

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420 with CNW — Marijuana Firms That Have Weathered the Recent Storms Could Thrive Over the Coming Years

Over the last five years, the marijuana sector has gone through a major shake-up from excessive spending to tough tax burdens and complicated regulations. With all these challenges, a sort of natural selection has taken place: only the most disciplined and resilient companies have survived.

The companies that remain today are generally led by experienced teams who’ve learned to operate with caution and efficiency. The recent downturn has helped reset market expectations, leading to more reasonable valuations.

Unlike previous market peaks in 2019 and 2021, where investors chased rapid expansion and aggressive land grabs, today’s environment favors steady earnings and strong financials. Investors now prioritize capital preservation and want to back businesses that are built to last.

For savvy investors, this presents a window to identify companies with solid leadership, real assets, and operational stability. These are the firms most likely to generate strong, risk-adjusted returns as the market matures.

With valuations down and sellers open to creative deal terms, now could be an ideal time to invest in businesses prepared for the next phase of growth.

Finding the right opportunities in cannabis is still a moving target. This year, investors are showing interest in companies that offer one or more of these advantages: strong consumer brands, distressed assets free from past liabilities, owned real estate or infrastructure, niche market access with little competition, durable market share gains through smart acquisitions, or innovative structures designed to work around federal limitations.

Deals that offer solid downside protection while leaving room for upside are especially appealing. Investors are leaning into structures like convertible notes that offer safety today with equity upside later, preferred equity that ensures priority in returns, and revenue-sharing models that deliver returns through operations rather than relying on uncertain exits.

Some of the most interesting strategies emerging include employee stock ownership plans (ESOPs), which provide liquidity for founders and employees while offering tax perks, and mergers with entities holding large tax losses, which can improve after-tax income when paired with profitable operators.

Policy winds may be shifting as well. For the first time in years, federal cannabis reform seems to be gaining momentum. President Donald Trump has come out in favor of reclassifying cannabis and advancing banking reforms. He’s publicly spoken about the need for more sensible policies that support small businesses and challenge the black market.

If reforms like SAFE Banking or rescheduling move forward, it could spark a return of institutional capital and public market access. That would be a major shift. Over the next one to two years, investors may have a rare chance to get in early on the next wave of cannabis success stories—companies that have already proven their grit and are ready to grow in a more supportive environment.

As that new phase of growth gains steam, plenty of opportunities could be created for companies like Innovative Industrial Properties Inc. (NYSE: IIPR) that address some of the needs of plant-touching companies.

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420 with CNW — Marijuana Firms That Have Weathered the Recent Storms Could Thrive Over the Coming Years

As that new phase of growth gains steam, plenty of opportunities could be created for companies like Innovative Industrial Properties Inc. (NYSE: IIPR) that address some of the…

420 with CNW — Nebraska Senate Rejects Law Seeking to Operationalize Medical Marijuana Program Approved by Voters

A bill in the Nebraska Legislature aimed at helping put voter-approved medical marijuana laws into action did not pass on Tuesday. Despite strong support from voters last November, lawmakers couldn’t overcome a filibuster in the chamber. Legislative Bill 677 fell short of the 33 votes needed to end debate, with a narrow 23-22 vote failing to move it forward.

Senator Ben Hansen, who introduced the bill, tried to appeal to his colleagues’ compassion, arguing that medical marijuana could offer real help to suffering patients. He stressed that even if they were hesitant about marijuana, they could still support relief for those in need.

Senator Glen Meyer echoed Hansen’s sentiment, urging fellow legislators to trust in each other’s judgment and humanity to find a path forward. Six other Republicans joined Meyer and Hansen in backing the bill, but it wasn’t enough to counter the opposition led by prominent GOP figures like Governor Jim Pillen, Attorney General Mike Hilgers, and U.S. Senator Pete Ricketts.

Their public pushback convinced enough lawmakers to block LB 677. They argued that the newly established Medical Cannabis Commission, created by voters and given full authority to regulate medical marijuana, should be allowed to work independently before any legislative changes are made.

There are also legal battles still playing out. Hilgers’ office is pursuing a case questioning the legality of how the cannabis laws made it onto the ballot. At the same time, he has rallied support from law enforcement groups, including sheriffs and police chiefs, against the bill.

Still, advocates like Senator John Fredrickson pushed back, arguing that the fears surrounding marijuana were outdated. He argued that lawmakers should focus on putting effective guardrails in place rather than blocking what the voters supported.

Senators like Dan Quick and Megan Hunt shared personal stories and frustrations, emphasizing that medical cannabis could be life-changing for families struggling with addiction or chronic health issues. Others noted the inconsistency of opposing this bill while supporting changes to other voter-approved initiatives on paid leave and minimum wage.

LB 677’s failure has frustrated many who believe the proposal is necessary to make the voter-approved reforms a reality. Some see it as another example of lawmakers ignoring the public’s will, while others view it as a deliberate delay tactic to weaken support or force legal battles.

Despite the setback, activists and supporters of medical cannabis have vowed to keep pressing forward. Many believe that the rejection of LB 677 could drive momentum toward full legalization in future elections, possibly as soon as 2026.

The failure to advance an enabling law creating a regulated medical marijuana program in Nebraska adversely affects the opening of broader economic activity, such as the sprouting of companies that offer services along the model of Innovative Industrial Properties Inc. (NYSE: IIPR) operating in other jurisdictions.

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420 with CNW — New Study Says Stress Drives Riskier Marijuana Use in Youth

A recent Canadian study focused on marijuana use among young adults offers insights into which behaviors and personal characteristics are linked to higher risks of marijuana-related problems.

While not all marijuana use results in negative outcomes, around 5% of young users in Canada may experience addiction or other harmful effects. What separates those who face issues from those who do not often comes down to how and why marijuana is used.

The study found that certain habits were linked to a higher risk of problems. These included using marijuana when alone, using it frequently throughout the week, consuming large amounts at once, or turning to it as a way to escape from stress or negative emotions. People who used marijuana to make everyday activities more enjoyable or to explore new experiences also tended to report more issues.

These findings line up with other research, especially the idea that frequent use and using alone are warning signs.

The study also found that not all groups of young adults face the same level of risk. Young people who identify as queer, lesbian, bisexual, gay, or otherwise sexually diverse reported more frequent and riskier patterns of marijuana use than their heterosexual peers. They were about three times more likely to fall into these higher-risk categories.

This increased risk was not attributed to sexual identity itself but to the elevated stress levels reported by these groups. Although higher rates of depression and anxiety were also noted among sexually diverse youth, general stress, particularly feelings of being overwhelmed or out of control, was the strongest predictor of problematic marijuana use. These stressors go beyond those caused by discrimination and point to broader life challenges that disproportionately affect marginalized groups.

This connects to a larger concept known as “minority stress”— the added stress that comes from being marginalized. Discrimination, exclusion, and internalized negativity can take a toll, and marijuana can become a way to cope.

With rising hostility toward LGBTQ+ communities in both the U.S. and Canada, the stress-related gaps in marijuana use may grow wider, according to the researchers.

Access to mental health care remains another barrier. Many sexually diverse youths face obstacles when trying to find safe, inclusive, and effective support services. As a result, marijuana may become a primary coping tool in the absence of better alternatives.

The study emphasizes the importance of making low-risk marijuana use strategies accessible, such as limiting frequency, avoiding solitary use, reducing quantities, and developing healthier coping mechanisms. However, these strategies are only effective if young people, especially those from marginalized backgrounds, have real access to supportive resources.

As the cannabis industry continues to grow and create numerous opportunities for other companies like Innovative Industrial Properties Inc. (NYSE: IIPR) exploiting opportunities within the marijuana ecosystem, more studies will be required to understand the drivers behind the use of this substance and how those who develop unhealthy usage habits can be helped.

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420 with CNW — Most People in Canada Support Expanding the Marijuana Industry, Survey Finds

Most Canadians believe the government should do more to support the legal marijuana industry, according to a recent national poll. The survey, conducted by Abacus Data for Organigram Global, found that 64% of adults in Canada think the government should make it easier for the marijuana sector to expand. This view spans all regions and age groups.

Support was especially strong in Atlantic Canada, where 65% backed more government action. Similar levels of support were seen in British Columbia (61 percent), Ontario (62 percent), and the Prairies (64 percent). Even among citizens over 60—a group often more skeptical of cannabis—57% agreed that the industry deserves greater backing.

These results come at a time when Canada is heading into a federal election and facing economic uncertainty, particularly in light of strained trade relations with the United States. The marijuana sector, despite being relatively new, is becoming a significant player in the national economy. Last year, it added $7.4 billion to the nation’s GDP, outpacing sectors like forestry and brewing, which contributed $3.3 billion and $2.6 billion, respectively.

Beena Goldenberg, the CEO of Organigram, noted that Canadians want the government to help homegrown industries thrive, and marijuana is one of them. She emphasized that the incoming prime minister should focus on removing barriers that are holding the sector back.

Nearly 90% of respondents also said they believe Canada needs to explore new avenues for economic growth. A similar number agreed that the country should act quickly to capitalize on fresh opportunities in emerging industries.

Since cannabis was legalized in 2018, the sector has generated over $43 billion in GDP and now supports more than 80,000 jobs, according to figures cited from Deloitte.

The survey, conducted from April 3 to April 8, surveyed 1,915 adults in Canada. It has a margin of error of plus or minus 2.24%.

The analysis also outlined specific steps the government could take—such as simplifying taxes, easing interprovincial sales restrictions, and encouraging research and development. It suggested that targeted support could especially help regions hit hard by declines in traditional sectors.

While the rollout of marijuana legalization wasn’t perfect, most indicators point to a positive outcome. Previous surveys show Canadians are largely purchasing cannabis through legal channels now, and youth usage hasn’t spiked—countering fears raised by critics of legalization. A government report from December last year revealed that only 3% of consumers still turn to illegal sources.

If these sentiments are acted upon and the cannabis program is expanded, there could be room for entrepreneurs to start firms similar to Innovative Industrial Properties Inc. (NYSE: IIPR) that serve marijuana companies and create a lot more benefits through their operations.

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420 with CNW — FBI Stance on Background Check Request Upends Delaware’s Marijuana Market Launch

Plans to launch recreational marijuana sales in Delaware this spring have hit a major roadblock following an announcement by the state’s Office of the Marijuana Commissioner (OMC) that the FBI had denied their updated service code request. The code is required to perform fingerprint-based background checks, which is a prerequisite for the impending recreational market.

The OMC had been collaborating with the state Justice Department and the State Bureau of Identification (SBI) to obtain the service code. However, a dispute between state and federal regulations means lawmakers will have to draft new legislation that aligns with the FBI’s standards.

The state General Assembly remains in session until June 30, so the timeline for resolving this issue remains uncertain.

This delay comes approximately two years after former Governor John Carney permitted the approval of two recreational marijuana measures without signing them. Last year, lawmakers passed additional legislation to clarify and correct certain provisions in the prior Act, including amendments to state codes.

One key requirement mandates that recreational cannabis license applicants submit fingerprints for the SBI to retrieve their FBI criminal history records. However, the agency has now ruled that Delaware’s legislation was not properly structured, further complicating the approval process for 125 cannabis license recipients.

This uncertainty poses financial risks for the awarded licenses, particularly if they are paying rent for facilities without being able to generate revenue. The OMC held lotteries in October last year, granting 110 licenses to testing labs, cultivators, social equity candidates, and manufacturers. In December, another lottery round awarded fifteen licenses to standard dispensaries.

Before stepping down in January 2025, Rob Coupe, the state’s first cannabis commissioner, had aimed for sales to begin in March. Now with the FBI roadblock in place, an alternative path could involve leveraging the state’s existing medical marijuana licensees.

Coupe had worked with legislators to draft a measure permitting the medical marijuana businesses to transition into the recreational market. The legislation, signed into law by Carney in July last year, allows medical dispensaries to convert their licenses by paying conversion fees—$100,000 for testing, retail, and manufacturing permits, and $200,000 for cultivation licenses.

The fee system could generate over $4 million, which legislators have allocated to support social equity applicants.

The fate of Delaware’s recreational marijuana market now rests on lawmakers’ ability to revise legislation and meet federal requirements. The current roadblock is likely to set back not just marijuana firms but also ancillary companies operating in the format of Innovative Industrial Properties Inc. (NYSE: IIPR) that were gearing up to open shop in the state.

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