Welcome to “Cannabis News Today,” a summary of the cannabis industry’s stock and regulatory updates.
- According to two studies, most public comments on the federal marijuana rescheduling proposal support full de-scheduling rather than rescheduling it to Schedule III. The public’s record of participation shows a strong demand for comprehensive federal marijuana reform to address racial justice and social equity. Read all about it on the TDR Website!
- Dallas voters will decide in November whether to adopt the “Dallas Freedom Act,” which aims to decriminalize marijuana possession and limit police actions related to cannabis. While the city council supports the amendment, potential legal challenges from the state are expected. Read all about it on the TDR Website.
- Cannara Biotech’s Q3 2024 results showed a 27.6% increase in gross cannabis revenues to $26.2 million, with net revenues rising 22.6% to $19.5 million. The company maintained positive net income despite a decrease in gross profit margins from 38% to 29%. Read all about it on the TDR Website!
- Cookies, a cannabis retailer in Albuquerque, New Mexico has agreed to a $350,000 settlement for multiple violations during their opening day. The infractions included underage cannabis consumption, improper promotion, and unlicensed alcohol consumption, which led to fines being paid to the state’s school fund.
- R. Kevin Williams from Clark Hill PLC on Law 360 questions whether rescheduling marijuana to Schedule 3 will change how U.S. Customs and Border Protection treats cannabis consumption accessories. While this rescheduling could reduce penalties for bongs and pipes, they might still face restrictions as drug paraphernalia.
- As reported on Marijuana Moment, a congressional committee blocked amendments that would have prevented federal agencies from using funds to test job applicants for marijuana. Sponsored by Rep. Robert Garcia, these amendments aimed to restrict cannabis testing but were consistently blocked from advancing to the House floor.
- Thai Prime Minister Srettha Thavisin has shifted from his election promise to outlaw marijuana, instructing the public health minister to regulate its use instead. The proposed regulation aims to ensure marijuana is used for medical purposes, research, and specific products, rather than reinstating it as a Category 5 narcotic.
- Nebraska Attorney General Mike Hilgers joined ten other states in opposing the federal proposal to reclassify marijuana from a Schedule I to a Schedule III drug. Hilgers argues that the rescheduling could undermine state laws and efforts to control substance abuse, despite advocates highlighting potential benefits for medical research and industry regulation.
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