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Change in how feds see Marijuana could mean big tax cut for Pot retailers

Change in how feds see Marijuana could mean big tax cut for Pot retailers

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Cannabis NewsSeptember 1, 2023

The biggest impact of reclassifying marijuana could be seen in industry taxes. The Biden administration is rethinking how it classifies marijuana under a federal list of drugs, a move that could allow the cannabis industry to save potentially billions in federal taxes each year because it would

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Colorado Cannabis industry sees positives and drawbacks to Marijuana reclassification

Colorado Cannabis industry sees positives and drawbacks to Marijuana reclassification

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Cannabis NewsSeptember 1, 2023

Marijuana is currently classified as a Schedule I drug, alongside heroin and LSD. DENVER — The US Department of Health and Human Services (HHS) on Thursday recommended that the Drug Enforcement Administration (DEA) move marijuana from a Schedule I to Schedule III controlled substance. The

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Warning over Cannabis laws after ganja edibles sold on delivery app

Warning over Cannabis laws after ganja edibles sold on delivery app

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Cannabis NewsSeptember 1, 2023

Chief Medical Officer Warns Against Illegal Sale and Use of Cannabis Products in Cayman Following Teen's Illness. Following a report of a teenage boy becoming ill from ingesting ganja edibles ordered through a food delivery app, Chief Medical Officer Dr. Nick Gent has issued a warning that the use

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It’s time to take women’s buying power seriously in Cannabis

It’s time to take women’s buying power seriously in Cannabis

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Cannabis NewsSeptember 1, 2023

The feminine point of view has commanded 2023. Summer tours from Beyonce and Taylor Swift “unleashed the spending power” of women and created an “economic tsunami” of value in each city they visited. Barbie smashed the box office earning over $700 million in its opening week, $1.2 billion worldwide

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Rescheduling Cannabis could negatively impact Medical community

Rescheduling Cannabis could negatively impact Medical community

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Cannabis NewsSeptember 1, 2023

Potential Rescheduling of Cannabis Sparks Hope and Questions: Q&A with Bri Padilla of The Chamber of Cannabis. The news earlier this week, courtesy of a report by Bloomberg News, that the Health and Human Services is recommending that the Drug Enforcement Agency reclassify marijuana from its status

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Cannabis insurance startup raises $3M on rescheduling news

Cannabis insurance startup raises $3M on rescheduling news

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Cannabis NewsSeptember 1, 2023

James Whitcomb, a former CEO of Parallel, helms Frontier Risk Group. Frontier Risk Group raised $3.1 million in seed funding with the help of Casa Verde Capital, apparently on the wave of optimism generated by the marijuana rescheduling news this week. The Connecticut-based cannabis insurance firm

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Cannabis stocks surge after HHS recommends classifying Marijuana as lower-risk drug

Cannabis stocks surge after HHS recommends classifying Marijuana as lower-risk drug

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Cannabis NewsSeptember 1, 2023

Cannabis Stocks Surge as Department of Health Recommends Rescheduling, Offering Hope to Industry. Cannabis companies are rallying for their second day in a row after the Department of Health and Human Services recommended moving marijuana to a less harsh drug schedule—as the drug currently shares

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Medical Cannabis sales set to surpass last year’s record of $270M

Medical Cannabis sales set to surpass last year’s record of $270M

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Cannabis NewsAugust 31, 2023

But the state is conservative even by Republican standards. The people of Arkansas spent $23.2 million on medical cannabis in July, Arkansas Democrat-Gazette reports. According to the Department of Finance and Administration, such recent spending is set to surpass the state’s record sales from last

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German 'Cannabis clubs' on high as legalization looms

German 'Cannabis clubs' on high as legalization looms

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Cannabis NewsAugust 31, 2023

Hanover's cannabis club started as a fringe outfit of nine members campaigning for the right to legally light up joints. Now the group, and others like it, are flourishing and mainstream as Germany gears up to legalise marijuana. This month the government approved a draft law legalising the purchase

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Three years jail for workers involved in $100m Cannabis crop

Three years jail for workers involved in $100m Cannabis crop

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Cannabis NewsAugust 31, 2023

Two men charged over their role in growing cannabis plants on a property at Isis have each been sentenced to three years in jail. Duy Khanh Bui, 30, and Simon Tran, 51, appeared together in the Bundaberg District Court on Thursday, charged with one count each of producing a dangerous drug, cannabis

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Huge Pot bust leads to 700 plants and hundreds of pounds of Marijuana

Huge Pot bust leads to 700 plants and hundreds of pounds of Marijuana

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Cannabis NewsAugust 31, 2023

Hundreds of pounds of illegally processed marijuana were recovered last week in Merced County. According to the Merced County Sheriff’s Office, deputies issued multiple search warrants that led investigators to find 702 marijuana plants. They also found about 40 pounds of dried marijuana, hundreds

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Cannabis company’s lawsuit against state dismissed

Cannabis company’s lawsuit against state dismissed

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Cannabis NewsAugust 31, 2023

A Missouri judge denied on Wednesday a marijuana company's effort to stop the recall of 62,000 products containing the company's THC concentrate that the state deemed a "potential threat to health and safety." The company, Delta Extraction, is a Robertsville-based licensed marijuana manufacturer

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NY Cannabis industry stakeholders call for accountability

NY Cannabis industry stakeholders call for accountability

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Cannabis NewsAugust 31, 2023

Ulster County Supreme Court Judge Kevin Bryant said Monday that he will not exempt any conditional retail cannabis licensees from his injunction issued on Aug 18 because the Office of Cannabis Management failed to comply with his recent order. As a result, the more than 400 Conditional Adult-Use

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NY Cannabis industry stakeholders call for accountability

NY Cannabis industry stakeholders call for accountability

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Cannabis NewsAugust 31, 2023

Ulster County Supreme Court Judge Kevin Bryant said Monday that he will not exempt any conditional retail cannabis licensees from his injunction issued on Aug 18 because the Office of Cannabis Management failed to comply with his recent order. As a result, the more than 400 Conditional Adult-Use

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NY Cannabis industry stakeholders call for accountability

NY Cannabis industry stakeholders call for accountability

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Cannabis NewsAugust 31, 2023

Ulster County Supreme Court Judge Kevin Bryant said Monday that he will not exempt any conditional retail cannabis licensees from his injunction issued on Aug 18 because the Office of Cannabis Management failed to comply with his recent order. As a result, the more than 400 Conditional Adult-Use

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What would the reclassification of Marijuana mean for the industry?

What would the reclassification of Marijuana mean for the industry?

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Cannabis NewsAugust 31, 2023

The announcement of the call for the reclassification of marijuana's current status has excited industry players, but it hasn't escaped criticism either. The U.S. Department of Health and Human Services sent on August 29 a letter to Anne Milgram, the Administrator of the Drug Enforcement Agency

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What would the reclassification of Marijuana mean for the industry?

What would the reclassification of Marijuana mean for the industry?

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Cannabis NewsAugust 31, 2023

The announcement of the call for the reclassification of marijuana's current status has excited industry players, but it hasn't escaped criticism either. The U.S. Department of Health and Human Services sent on August 29 a letter to Anne Milgram, the Administrator of the Drug Enforcement Agency

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Fairness and justice must prevail’ in NY Cannabis

Fairness and justice must prevail’ in NY Cannabis

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Cannabis NewsAugust 31, 2023

The legalization and regulation of adult-use cannabis in our state represent monumental strides toward social justice and economic growth. However, this progress is being thwarted by a small group of plaintiffs who, under the guise of seeking ‘fair competition,’ are inflicting irreparable harm upon

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US health agency recommends easing federal restrictions on Marijuana

US health agency recommends easing federal restrictions on Marijuana

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Cannabis NewsAugust 31, 2023

The Department of Health and Human Services is formally recommending that the Drug Enforcement Administration ease government restrictions on marijuana, which remains illegal at the federal level even though 40 states allow its use in some form. Indiana is not one of the states that have jumped on

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US health agency recommends easing federal restrictions on Marijuana

US health agency recommends easing federal restrictions on Marijuana

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Cannabis NewsAugust 31, 2023

The Department of Health and Human Services is formally recommending that the Drug Enforcement Administration ease government restrictions on marijuana, which remains illegal at the federal level even though 40 states allow its use in some form. Indiana is not one of the states that have jumped on

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