420 with CNW — Report Says NY Marijuana Program Has Undergone Successful Moments, Growing Pains

New York authorities recently published a comprehensive report on the progress of the state’s cannabis legalization law, which was signed by former Governor Andrew Cuomo in 2021. The state’s cannabis management office (OCM) shared the document, outlining the advancements made toward achieving the law’s primary goals.

The outlined advancements include fostering equity and creating opportunities for groups that have been disproportionately impacted by marijuana prohibition, building a strong and thriving industry, and preserving the environment, among others.

Tremaine Wright, head of the state marijuana control board, stated, “This report demonstrates our dedication to transparency and equity. I’m proud of how far we’ve come in the last three years to create a strong foundation for New York’s marijuana industry. Our objective has always been establishing a just and equitable industry that addresses historical wrongs and forges ahead with new prospects.”

According to the report, the state has licensed 200 cannabis retail dispensaries, with more than 1,300 recreational cannabis business licenses issued in total. The report also noted that54.7% of the licenses have gone to applicants from economic and social equity backgrounds. Additionally, most cannabis users are now purchasing from legal sources. According to the report, 67% of consumers who used marijuana in the past year said they bought their products from licensed dispensaries.

Another significant result of the law is the expungement of marijuana-related criminal records. More than 200,000 convictions have already been sealed, while an additional 107,000 are awaiting the same process. Furthermore, the report confirms that no one in the state is currently incarcerated for marijuana-related offenses alone.

In terms of consumer habits, the report noted that as of 2022, 14.9% of New Yorkers 18 years of age and older used marijuana monthly, with 7% reporting daily use. In addition, 52% said they used cannabis for recreational purposes, while 13.5% were medical users. Meanwhile, 34.5% reported using cannabis for both medical and recreational purposes.

The enforcement section of the report emphasizes that enforcing cannabis laws is crucial to maintaining a level playing field for legal operators. The report highlights that enforcement protects the investments of legal entrepreneurs while holding those selling illegal and unsafe products accountable.

The report acknowledges the struggles faced during the market’s initial phase, such as delays in rolling out the market, leadership disputes and issues surrounding the cannabis social-equity fund. It states that there is still much to do, including refining data collection, improving customer service, educating consumers and tackling the illegal marijuana market. Nonetheless, the officials are upbeat about the potential success of the sector.

The progress that is being made in rolling out the adult-use marijuana program in New York State is being watched positively by the entire industry, including entities such as Verano Holdings Corp. (CSE: VRNO) (OTCQX: VRNOF) that would like to see all adults who use marijuana obtaining it from a licensed source.

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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 — Kentucky Officials Prepare to Hold Medical Cannabis License Lottery

Kentucky will begin its lottery for medical cannabis business licenses next month, marking a key milestone in launching the state’s medical marijuana program. There has been an overwhelming response to the program, with Kentucky officials receiving close to 5,000 applications for business licenses before the Aug. 31, 2024, deadline.

Most of these applications, around 4,096, came from individuals and groups wanting to open dispensaries. However, only 48 of those dispensaries will be granted licenses. Governor Andy Beshear commented on the significant interest, stating, “The results speak for themselves. There is amazing, even overwhelming, interest, particularly from Kentuckians. This demonstrates that the program will achieve its goals.”

Beshear also noted that the state is now processing the applications, and the license lottery will be divided based on different business categories. The first licenses to be awarded next month will go to cultivators and processors. This will help ensure the program remains on track for its planned launch in January 2025.

There is a strict deadline for license issuance, and the state is trying to issue the licenses as soon as feasible. With the lottery scheduled for next month and January fast approaching, there is growing concern about whether there will be enough medical cannabis available by the program’s start date.

Beshear acknowledged this concern and assured that a contingency plan is underway. He stated that an executive order would be put in place if the state foresees any issues with product availability. This would allow patients to obtain medical cannabis from other states, such as Ohio, under certain specific conditions.

The state’s medical cannabis program will be relatively small in scale, with only patients with specific qualifying medical conditions eligible to purchase medical cannabis. This means the demand for the product will be lower compared to states that have fully legalized marijuana for both medical and recreational use.

Medical cannabis in Kentucky was passed through Senate Bill 47, which Beshear signed into law in 2023.The law permits patients with qualifying conditions to use medical marijuana; however, smoking marijuana will remain prohibited. Instead, patients will have the option to vape dried flower, similar to Ohio’s medical cannabis program.

The law also sets limits on THC content. Cannabis flower will have a cap of 35% THC, while tinctures, edibles and oils will be limited to 10 milligrams per serving. Concentrates will be limited to 70% THC. Home growing of cannabis is prohibited.

Established companies in other well-established cannabis markets, such as Verano Holdings Corp. (CSE: VRNO) (OTCQX: VRNOF), will be hoping that the medical cannabis program launch in Kentucky goes according to plan so that qualifying patients can readily access the products they need.

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420 with CNW — Nearly 43,000 Comments Sent to the DEA; Highlights Shared Here

The public comment period for the U.S. Drug Enforcement Administration’s (DEA) proposed marijuana rescheduling rules recently ended, and now the agency will analyze the responses, marking the first time they are considering public opinions on cannabis. Approximately 43,000 comments were submitted by individuals, researchers and organizations, making it the highest number of responses the DEA has ever received for a proposed regulation change.

The drug markets and legal regulation director at the Drug Policy Alliance, Cat Packer, highlighted that the huge response demonstrates the public’s great interest in cannabis legalization in the United States.

People used this opportunity to share their opinions and personal experiences on marijuana usage and legalization, in addition to talking about the proposed policy. Some raised worries that minors could be harmed by cannabis rescheduling or that it acts as a gateway drug. On the other hand, many people talked about their positive experiences and mentioned how cannabis helped with ailments including autism, anxiety and seizures.

According to a preliminary review, the majority of commenters felt that rescheduling was insufficient and demanded larger measures toward federal legalization. The DEA’s proposal aims to reclassify marijuana from Schedule 1 to 3, which would recognize it as a medication eligible for approval by the U.S. Food and Drug Administration (FDA), though it would remain federally illegal in most situations.

Packer drew attention to the fact that the discrepancy between federal and state laws is not resolved by rescheduling. Moreover, it doesn’t address the past racial injustices associated with the criminalization of cannabis or the racial inequities that followed.

Packer’s viewpoint is reflected in the majority of responses, many of which call for complete legalization. After doing a keyword analysis on the comments, the Drug Policy Alliance discovered that 59% of respondents wanted cannabis to be treated the same as tobacco or alcohol and completely descheduled, or decriminalized.

The comments were also examined by Headset, a marijuana data platform, utilizing the most recent iteration of OpenAI’s language model. An estimated 57% of comments supported descheduling cannabis, while 35% supported rescheduling and 8% wanted marijuana to stay classified as a Schedule 1 drug, according to the analysis. These findings are consistent with a Pew study that found 32% of Americans think cannabis should only be allowed for medical use, while 57% of Americans say it should be allowed for both recreational and medical usage.

The AI analysis provided additional insights, such as a pattern where opposition to medical cannabis came in waves of form letters, whereas support for legalization appeared more organically. Packer hypothesized that those making comments would be swayed by President Joseph Biden’s prior remarks regarding the legalization of cannabis, particularly his pledge to decriminalize it during the 2020 campaign.

The next steps in the process are uncertain as the DEA navigates this unprecedented situation. CEO and cofounder of the National Cannabis Industry Association, Aaron Smith, stated that although he sees rescheduling as a step in the right direction and hopes it happens before year’s end, he understands that the DEA is unlikely to completely deschedule cannabis based only on public sentiment.

Packer, meanwhile, had doubts regarding the schedule, speculating that several circumstances would cause the procedure to be postponed until after the next presidential election or possibly until the conclusion of Biden’s term. In addition, the DEA could be forced to postpone its decision indefinitely if it is sued or has a public hearing. Packer stressed that federally criminalizing marijuana will still have negative consequences, even if the rescheduling goes on.

Smith also questioned how the DEA would handle the relatively low support for rescheduling alone. She noted that if the DEA proceeds with making cannabis a Schedule 3 substance, only 35% of those who commented would be satisfied, potentially leaving a significant portion of the public disappointed.

Stakeholders such as Verano Holdings Corp. (CSE: VRNO) (OTCQX: VRNOF) will be waiting to see how this rescheduling pans out and when the final rule is published.

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420 with CNW — Three Changes That Could Happen Post-Marijuana Reclassification

The United States Drug Enforcement Administration (DEA) is planning to reclassify cannabis, marking a significant shift in American drug policy that could have widespread implications nationwide. Melba Pearson, a legal expert specializing in civil rights and criminal law, shared insights on the potential changes following the reclassification.

Working at Florida International University’s Jack D. Gordon Institute for Public Policy, Pearson directs prosecution projects, focusing on technical assistance, training and community engagement in prosecution. She previously served as deputy director at the American Civil Liberties Union of Florida.

Pearson noted the magnitude of the proposal, highlighting its potential impact despite not legalizing recreational cannabis outright. She noted the increasing number of states permitting recreational cannabis sales, suggesting that the reclassification could encourage more states to consider legalization.

The reclassification is expected to open doors for new research opportunities on cannabis, addressing past challenges in securing funding due to its classification. Pearson expressed hope that states would review criminal sentences related to cannabis use, potentially revisiting convictions and facilitating record expungement to support individuals’ rehabilitation.

Drawing parallels with sentencing disparities in drug offenses such as crack cocaine and cocaine, Pearson suggested that states might reconsider cannabis convictions deemed unjust in light of changing laws. Notably, possession of marijuana in Florida can still result in misdemeanor charges depending on the quantity, despite the legalization of medical marijuana through Amendment 2 in 2016.

Looking ahead, Florida voters will decide on recreational cannabis legalization in November, requiring a minimum of 60% support to pass the amendment.

A number of other states may hold public votes, with South Dakota currently gathering signatures to legalize marijuana for recreational use. In Nebraska, a cannabis advocacy group is collecting signatures in a bid to place two ballot proposals this year: one that would legalize medical marijuana and another that would permit commercial businesses to cultivate and sell it. The effort comes after two prior unsuccessful attempts.

Elected officials in other places, including Tennessee, are still hesitant to support marijuana use for either recreational or medical purposes. Republican speaker of the Tennessee Senate, Randy McNally, had previously declared that he would not back changes to state law until cannabis is reclassified by the federal government.

Nonetheless, the impending reclassification decision reflects ongoing shifts in public attitudes toward cannabis and could signal further changes in drug policy at both the state and federal levels. When federal reforms are enacted, the cannabis industry, including established enterprises such as Verano Holdings Corp. (CSE: VRNO) (OTCQX: VRNOF) could revisit their roadmaps and find ways to leverage the improved regulatory landscape.

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420 with CNW — Cannabis Taxes Are Underperforming Expectations in Several States

Approximately one-half of the U.S. population resides in states where recreational cannabis is legally accessible. Furthermore, 11 additional states, including Florida and Wisconsin, are contemplating legalization this year.

One of the primary arguments for the legalization of cannabis is the potential for increased state tax income. However, the amount of revenue generated depends on the regulatory decisions made by each state regarding the cannabis industry and the method of taxation employed.

Taxes on recreational cannabis typically revolve around factors such as potency, price, weight and quantity, similar to the taxation of other “sin products” such as alcohol and tobacco. Taxation of these goods is not merely a revenue-generating mechanism for the government but is also seen as a tool to influence public-health policies and mitigate the adverse effects associated with their consumption. These taxes are intentionally higher compared to taxes on other commodities.

The rationale behind aggressive taxation of such goods lies in the recognition that their usage imposes societal burdens such as increased healthcare costs and violence, termed as “negative externalities” by economists. Research has indicated potential health risks associated with cannabis, particularly among adolescents. Consequently, governments frequently structure cannabis taxes in a manner aimed at curbing its use.

Most states that have legalized cannabis implement a sales tax specific to marijuana. Some use weighted or quantity-based taxation techniques in addition to sales taxes. For example, a set of six cannabis brownies weighing a pound might be taxed based on their quantity or weight. Similar to the taxation of alcoholic beverages in many states, potency-based taxation is also utilized to regulate cannabis consumption. Spirits have significantly higher taxes than beer and wine. Similarly, cannabis can be taxed based on the level of THC.

Washington and Colorado became the first states to legalize cannabis for recreational use in 2012, with sales beginning in 2014. The states adopted an aggressive approach to cannabis taxation compared to others. Colorado, for instance, levies a marijuana sales tax of 15% for consumers and an additional 15% tax based on weight for retailers, in contrast to New Mexico’s 12% sales tax. Washington imposes an even higher tax rate of 37%.

Washington and Colorado anticipated substantial tax revenues from their burgeoning cannabis industries due to the high tax rates imposed. However, these predictions were based on estimates of illegal cannabis usage, leading to an overestimation of legal consumption, which is typically more expensive than illicit drugs.

Former Colorado governor John Hickenlooper predicted that cannabis taxes would bring in more than $130 million during the first year of sales in 2014. However, the actual revenue fell short, amounting to approximately $88 million. Washington faced a similar situation, with tax revenue significantly below projections. Furthermore, both states experienced a decline in tax revenue from tobacco and alcohol products, attributed to a shift in consumer preferences toward marijuana consumption. This led to a reduction in revenue from these sin goods, although overall tax revenue increased postlegalization, albeit not to the extent anticipated by policymakers.

Additionally, states such as Colorado, California and Oregon have witnessed a slowdown or decline in cannabis sales and revenue due to market maturation, leading to a drop in average cannabis prices and subsequent reductions in tax revenues.

Potency-based taxation appears resistant to falling prices, assuming consistent cannabis sales volumes. However, its effectiveness hinges on consumer preferences for products with high potency, which may not align with market realities. Moreover, suppliers could manipulate THC potency to avoid taxes, potentially leading to unintended consequences such as the proliferation of low-potency products.

Ultimately, there is no one-size-fits-all tax structure capable of guaranteeing a steady stream of cannabis tax revenue. While they have an impact on market dynamics, tax laws are not able to completely counteract demand swings. State tax collections are likely to continue declining or at least remain stagnant as the cannabis industry matures and becomes more competitive as additional states legalize its use.

Licensed companies that are bearing the heavy taxes imposed by the states in which they operate, such as Verano Holdings Corp. (CSE: VRNO) (OTCQX: VRNOF), likely long for a time when favorable tax reforms will be enacted so that the regulated market can outcompete the illicit marijuana actors.

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420 with CNW — New Study Shows Teen Cannabis Use in Washington State Has Dropped After Legalization

Recently published data from a survey conducted in Washington State among teenagers and adolescents indicates a decline in both past-one-month and lifetime use of cannabis in the past few years, with notable decreases that have persisted through 2023. The findings suggest that the perceived accessibility of marijuana among minors has typically decreased since the state legalized recreational use in 2012, which contradicts concerns voiced by those opposed to legalization.

In 2023, about 8.4% of 10th graders in Washington reported using cannabis within the past month, a slight increase from 7.2% in 2021, according to the study. However, both figures were significantly lower than prelegalization statistics. For instance, in 2010, 20% of 10th graders admitted to using marijuana within the previous month.

Within King County, the most populated county in the state, only 5.5% of 10th graders reported marijuana use in the past 30 days in 2023, a decline from 7.3% in 2021 and a substantial decrease from 18.1% in 2010. Similar reductions were observed in lifetime cannabis use among students in other surveyed grade levels, including 12th, 8th and 6th grades.

In a recent blog post highlighted these findings, the state’s Liquor and Cannabis Board (LCB) indicated a stable trend in youth alcohol and marijuana use since 2021. Health officials credit the significant declines observed between the years 2018 and 2021 at least partially to the impact of the COVID-19 pandemic, although youth cannabis use had already been declining overall since the legalization of adult-use marijuana.

The state health department stated that while the long-term effects are uncertain, substance use remained relatively stable in 2023 in Washington and across the country. However, there were increases in the abuse of prescription medication, analgesics and other illicit substances compared to 2021, suggesting a need for more preventive measures.

Perceived marijuana access also decreased considerably, according to the study. In 2010, more than one-half of 10th graders surveyed said it would be easy to obtain the substance. However, by 2021, the number fell to 31.6%, and in 2023, this number further decreased to 30.8%.

The study also examined other marijuana-related attitudes and behaviors. Statewide, 10th graders were more likely in the past year to admit the risks of attempting or routinely consuming marijuana. Additionally, more respondents believed that youth using cannabis in their neighborhood would be apprehended by the police.

Even within peer groups, the acceptance of cannabis consumption has decreased compared to before recreational cannabis legalization. The majority of 10th graders now consider it wrong for someone their age to use cannabis.

These findings complement a recent study by the CDC that also utilized the Healthy Youth Survey and found a significant decrease in frequent and current cannabis use among teenagers in King County since the legalization of recreational marijuana in 2012. Researchers suggested that legalization and the associated regulations may have made marijuana less accessible to teens, although the COVID-19 pandemic could have also contributed to more declines.

Regarding the latest survey, the LCB expressed interest in understanding the prevalence of past-30-day cannabis use among 10th graders. A small percentage (9%) reported purchasing marijuana from a store or stealing (2%) it, which may indicate access to hemp-derived products outside of the licensed system.

The increasing number of studies confirming that cannabis legalization results in fewer teens accessing the substance confirms what industry actors such as Verano Holdings Corp. (CSE: VRNO) (OTCQX: VRNOF) have always believed that ending prohibition can help in limiting access to marijuana by minors.

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420 with CNW — Massachusetts Governor Announces Plan to Pardon Low-Level Cannabis Convicts

Governor Maura Healey of Massachusetts has revealed plans to pardon all individuals with simple cannabis possession charges in the state. It is expected that the move will impact a significant number of people.

During a recent press conference, Healey stressed the importance of the announcement, noting that it is among the largest marijuana pardons that a U.S. governor has ever declared. She stated, “We’re doing this simply because justice demands it.”

Although exact numbers on how many people are impacted by the pardon are unknown, Healey hypothesized that the number may potentially reach hundreds of thousands throughout the state of Massachusetts. Healey further underlined the significance of the racial justice that these pardons would provide. Highlighting findings from a 2016 American Civil Liberties Union (ACLU) of Massachusetts report, she noted that while Black people make up only 8% of Massachusetts’s population, they make up 24% of cannabis possession arrests.

“This pardon represents a step towards rectifying the injustices perpetuated by these disparities within our state. We remain committed to addressing racial inequality across all aspects of our legal system,” affirmed Healey.

The pardon exclusively pertains to simple cannabis possession charges and does not extend to other cannabis-related felonies, such as distribution or operating a vehicle while intoxicated. Before the pardon, individuals with such charges on their records faced potential obstacles in securing employment or housing due to their criminal history.

Carol Rose, executive director of the Massachusetts ACLU, hailed the announcement, stating, “Today’s declaration ensures that individuals in every corner of our state are no longer penalized for engaging in behavior that has been deemed legal.”

Governor Healey’s pardon marks the second such initiative following President Joseph Biden’s pardon in 2022, which addressed simple cannabis possession felonies in Washington, D.C., and on federal lands. Biden had urged governors nationwide to take similar actions regarding state-level charges.

In a similar vein, in November 2022, then-Oregon Governor Kate Brown pardoned more than 47,000 individuals in the state for simple cannabis possession felonies involving one ounce and lower.

President Biden subsequently expanded his cannabis pardon initiative in December last year, extending it to include individuals charged with the use or attempted possession of cannabis on federal land, in addition to simple possession. He reiterated his call for governors to issue similar pardons. Biden restated his position in December, noting the need to redress the unfairness stemming from the fact that many people’s lives had been upended by failed cannabis policies.

The action that the governor of Massachusetts is taking is likely to be welcomed by the broader cannabis industry, including companies such as Verano Holdings Corp. (CSE: VRNO) (OTCQX: VRNOF), since it is a step toward fixing the societal injustices that resulted from the prohibition of marijuana.

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420 with CNW — Modified Ballot Measure to Broaden Medical Marijuana Approved in Arkansas

Efforts to enhance accessibility to medical marijuana are gaining traction in Arkansas as advocates and industry stakeholders push for a constitutional amendment slated for the November ballot. Tim Griffin, the state’s attorney general, recently gave the green light to the proposed amendment’s ballot language after making some revisions. Now, supporters have until July 5, 2024, to secure approximately 90,704 registered voters’ signatures, a crucial step in securing a spot on the Nov. 5, 2024, general election ballot.

The ballot committee supporting the proposal, Arkansans for Patient Access, is led by Bill Paschall, executive director of the Arkansas Marijuana Industry Association. He stated that industry stakeholders are prepared to present the amendment’s case.

The proposed amendment would allow patients to grow their own marijuana plants, which would improve accessibility to the drug. In addition, the measure aims to remove retail limitations on some smokable goods, such as pre-rolled joints, and expand the eligibility for marijuana patients’ ID cards. Notably, it also contains clauses that might allow Arkansas to legalize marijuana for recreational use if federal restrictions change.

The majority of the AG’s requested revisions to the ballot title and popular moniker Arkansans for Patient Access were small, technical adjustments. The most significant modification was adding “medical marijuana” to the title instead of “cannabis.” The amended proposal is now the Arkansas Medical Marijuana Amendment of 2024.

According to Paschall, the initiative’s counsel had reservations about the amended ballot title’s length, but after some consideration, the organization has decided to approve it. In previous election cycles, challengers to ballot initiatives have focused their legal objections on the length of the ballot title.

The proposed changes build upon the existing Amendment 98 of the Arkansas Constitution, ratified in 2016, which legalized cannabis for medical purposes. Important changes include removing restrictions on qualifying medical conditions, increasing the number of healthcare providers certified to certify patients for medical cannabis, and allowing designated caregivers and patients to grow cannabis plants. The proposal also intends to waive ID card registration fees, expand access for out-of-state residents, expedite patient telemedicine assessments and prolong the life of new patient cards.

Additionally, it introduces a recreational marijuana trigger law that, under certain federal regulatory changes, allows adult possession of marijuana up to an ounce. It also suggests protections against legislative changes to constitutional amendments made without voter consent.

While proponents advocate for expanded access to medical cannabis, other groups, such as the Family Council, have opposed the move. This opposition is based on several issues, including concerns about potential recreational use implications. The opposition underscores the contentious nature of the proposed changes.

The cannabis industry and leading players such as Verano Holdings Corp. (CSE: VRNO) (OTCQX: VRNOF) will be hoping that the desired cannabis-law reforms are passed and patients can obtain the expanded access to medical marijuana that they need.

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420 with CNW — Spotlight PA Legal Victory Opens Door to Cannabis Research

Following a protracted 15-month court battle in 2022, Pennsylvania’s independent newspaper “Spotlight PA,” which specializes in investigative reporting, was able to obtain information about the requirements for the statewide medical cannabis program. The arduous triumph in 2022 opened the door for an extensive inquiry based on those obtained documents, which were released last year.

According to the state’s Department of Health spokesperson, the data has now been shared with other users, including academic researchers throughout the state. The data has also assisted in improving understanding of the state’s medical cannabis program.

Scientists affiliated with Geisinger Healthcare System, including Brian Piper, an assistant professor specializing in neurology at the Geisinger Commonwealth School of Medicine, have been among the beneficiaries of the data. Piper noted how unusual it is for governments to be so open about giving this data, and he described it as a great chance for his research.

Piper and associates leveraged this data to perform a study that examined the relationship between dispensary physical locations vs. the number of adult users with medical cannabis certifications in particular areas. This study also investigated the relationship between dispensary physical locations vs. the proportion of certificates granted for medical problems for which there is insufficient data to conclusively refute or support the efficacy of medical cannabis as a therapeutic substance.

These researchers described their research as the first scientific study within the United States investigating the relationship between qualifying conditions and dispensary locations.

Leading author Annemarie Hirsch, director of the Center for Community Environment & Health and associate professor at Geisinger’s Department of Population Health Sciences, described the research as an attempt to generate hypotheses that might lead to further scientific inquiry.

The study results were presented in the form of a preprint write-up last August, but as of January, the results hadn’t yet gone through the requisite peer-review procedure prior to publication in a scholarly journal. According to Piper, the preprint is a way to quickly share research results with the larger community so that the information might be of use.

In addition, during a review of the literature on anxiety and cannabis last year, the Medical Cannabis Research Center at Drexel University referenced “Spotlight PA”’s data analysis. The review discovered that anxiety issues are the main reason individuals are qualifying for this program.

“Spotlight PA” made the anonymized data on qualifying conditions accessible for public examination online in December to increase openness. The distributed anonymized data respects ethical norms by protecting the anonymity of specific patients and physicians.

As more studies of this nature are conducted, it could lead major marijuana businesses such as Verano Holdings Corp. (CSE: VRNO) (OTCQX: VRNOF) to come up with specially formulated medical marijuana products targeting specific segments of patients in different state-legal markets.

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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 — DOJ Says Federal Government Will Ask Court to Throw Out Case Challenging Prohibition

The U.S. Department of Justice has revealed that it will ask a federal court to dismiss a lawsuit seeking to block the federal government from enforcing cannabis prohibition in state-level cannabis markets. Several industry stakeholders and cannabis businesses teamed up in May 2022 to sue the federal government over what they said were unconstitutional policies harming their operations. The group was represented by two leading law firms, including Boies Schiller Flexner LLP, which has represented clients such as former Vice President Al Gore and the Justice Department.

According to the lawsuit, enforcing cannabis prohibition in state markets is unconstitutional and creates a public risk while preventing licensed cannabis businesses from accessing critical financial services despite paying taxes. The suit was filed by Wiseacre Farm and Canna Provisions from Massachusetts, Treevit CEO Gyasi Sellers, along with multistate marijuana operator Verano Holdings Corp. (CSE: VRNO) OTCQX: VRNOF) in the U.S. District Court for the District of Massachusetts, Western Division.

However, in a document filed earlier this week with the U.S. District Court, the Justice Department noted that Attorney General Merrick Garland will file a “motion to dismiss and supporting memorandum” on the Tuesday deadline. That news comes only one month after the plaintiffs and the DOJ jointly agreed to request a deadline extension for initial brief filing. Both parties submitted a joint filing asking the court to extend the deadline by 28 days and push it to Jan. 26, 2024.

If the federal government does file a motion to dismiss, the plaintiffs will have until March 15, 2024, to submit an opposition response and up to April 5, 2024, to submit any additional replies. The DOJ is also asking for permission to submit a memorandum exceeding the 20-page limit as it will present arguments on “multiple issues of constitutional law.”

According to Ascend Wellness Holdings founder Abner Kurtin, the lawsuit is an “industry-wide effort” seeking to block the federal government from impeding intrastate cannabis trade. The suit argues that interstate cannabis trade prohibitions are “unjustified vestiges’” of long-abandoned prohibitionist policies at the state level.

With dozens of states legalizing medical and recreational cannabis over the past two decades, the suit alleges that interstate commerce prohibitions by the federal government are an “unjustified intrusion of federal power” that harms the cannabis sector and lacks any national purpose.”

The plaintiffs are also challenging tax provision IRC 280E, which prevents cannabis businesses from making tax deductions. American Trade Association of Cannabis and Hemp president Michael Bronstein said he believes that tax provisions, as well as the Controlled Substances Act, are being “misapplied to legal cannabis businesses.”

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