Susan Duggan

The Federal Trade Commission (FTC) recently sued a wellness company over unsanctioned medical claims it was making about a line of CBD products and supplements. No longer satisfied with merely sending out warning letters, the agency seems to be taking more aggressive steps to combat the scourge of companies marketing products as treatment options for conditions such as cancer and COVID-19 without supporting scientific evidence. The California-based Whole Leafs Organic allegedly did both, according to a complaint filed in a federal district court. In advertising, it claimed that its “Thrive” nutritional supplement consisting largely of vitamin C could treat or reduce the risk of contracting the novel coronavirus, FTC said. It also sold three types of CBD products that the company said could target and eliminate cancer cells. Marc Ching, owner of Whole Leafs Organic, agreed to a preliminary injunction order earlier this week, barring his company from making claims that the products

The Federal Trade Commission (FTC) recently sued a wellness company over unsanctioned medical claims it was making about a line of CBD products and supplements. No longer satisfied with merely sending out warning letters, the agency seems to be taking more aggressive steps to combat the scourge of companies marketing products as treatment options for conditions such as cancer and COVID-19 without supporting scientific evidence. The California-based Whole Leafs Organic allegedly did both, according to a complaint filed in a federal district court. In advertising, it claimed that its “Thrive” nutritional supplement consisting largely of vitamin C could treat or reduce the risk of contracting the novel coronavirus, FTC said. It also sold three types of CBD products that the company said could target and eliminate cancer cells. Marc Ching, owner of Whole Leafs Organic, agreed to a preliminary injunction order earlier this week, barring his company from making claims that the products

Illinois will postpone the allocation of 75 additional business licenses for adult-use cannabis stores because of the coronavirus emergency, meaning existing operators will remain in command of the fast-growing market for the time being. The delay beyond the original May 1 award date was expected because Illinois’ governor issued a modified stay-at-home order that begins May […] Illinois delays awarding 75 recreational marijuana licenses is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs Original Article Source: https://mjbizdaily.com/illinois-recreational-marijuana-licensing-delays/

Scientists have successfully forced the Drug Enforcement Administration (DEA) to release an internal document that was allegedly used to justify delaying the approval of additional marijuana manufacturers for research purposes. And it reveals that the Justice Department feels that the current licensing structure for cannabis cultivation has been in violation of international treaties for decades. The Scottsdale Research Institute (SRI), which is one of several applicants seeking federal authorization to cultivate cannabis for studies, filed a lawsuit under the Freedom of Information Act (FOIA) last month, claiming that DEA had relied on a “secret” memorandum interpreting international drug treaties to avoid accepting more manufacturers . On Tuesday, the parties reached a settlement in the case. And DEA released the Department of Justice Office of Legal Counsel (OLC) document on Wednesday, as part of the agreement. The June 2018 memo—titled “Licensing Marijuana Cultivation in Compl

The governor of Kansas says that medical cannabis legalization remains a legislative possibility this session despite lawmakers temporarily disbanding amid the coronavirus pandemic. In an interview published by KSNT on Wednesday, Gov. Laura Kelly (D) was asked about various policy proposals and noted that there’s “been some discussion about legalizing medical marijuana.” “I think that discussion continues and I think if it actually was able to come to a vote, I think that it probably would pass the legislature,” she said, adding that “I think the issue of recreational marijuana is still not on the table.” According to a writeup by the local news outlet, Kelly also said that the “possibility of medicaid expansion still exists this session as well as legalizing medical marijuana in Kansas.” The governor said earlier this year that legalizing marijuana for medical use is a priority, but she also said she’d be inclined to sign a bill to legalize recreational cannabis in the event l

The latest webinar from Marijuana Business Daily’s Investor Intelligence, “Know the Nuances: Share Structure to Leasebacks and the Taxes Between,” is scheduled for 1 p.m. ET/10 a.m. PT on Tuesday, May 5. The session, part of the Investor Intelligence Virtual Briefings series, will focus on deal details that make some investments less successful and show investors what they […] MJBizDaily webinar looks at deal killers in marijuana investing is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs Original Article Source: https://mjbizdaily.com/deal-killers-in-marijuana-investing-webinar/

Wholesale prices for medical cannabis plummeted in Michigan after a change in regulations that prevents caregivers from selling into the recreational market caused them to offload large amounts of flower. Several cannabis industry experts say that, before the change in the law, wholesale pounds of medical marijuana flower were selling for around $4,000 a pound. […] Michigan wholesale medical marijuana prices fall on flood of caregiver product is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs Original Article Source: https://mjbizdaily.com/michigan-wholesale-medical-marijuana-prices-fall-caregiver-product/

The owner of pioneering cannabis magazine High Times said Tuesday it is acquiring 13 operating and planned marijuana retail stores in California for $80 million. The purchase, which is being made mostly in stock, reflects an aggressive move into retail under the company’s new management team. Los Angeles-based High Times Holding Corp. is acquiring the […] High Times makes bold move into marijuana retail with $80 million deal is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs Original Article Source: https://mjbizdaily.com/high-times-acquires-harvest-health-and-recreation-cannabis-stores-for-80-million/

A top Mexican senator says that marijuana legalization could generate tax revenue to offset economic losses caused by the coronavirus pandemic—and lawmakers could have the opportunity to advance reform in a committee that’s expected to be established on Thursday. Sen. Julio Ramón Menchaca Salazar of the ruling Morena party said that while legislators must still resolve disagreements about legislation that’s already been introduced and advanced through several committees last month , legalizing cannabis could fill treasury coffers at a time when the economy is taking a massive hit under social distancing and stay-at-home orders. Farmers in particular also stand to benefit, as the reform proposal would free them up to cultivate both marijuana and industrial hemp, he said. “We have this opportunity and we are going to take advantage of it,” Menchaca, who leads the Senate Justice Committee, told El Sol de Mexico over the weekend. “We will assume our responsibility, both in the Senate

Researchers are calling for formal clinical trials into the efficacy of marijuana for treating opioid use disorder after a newly published study found that cannabis may ease many common symptoms of opioid withdrawal. The study, conducted by researchers at the Johns Hopkins University School of Medicine and published in the forthcoming issue of the Journal of Substance Abuse Treatment, asked 200 people with past-month opioid and marijuana use whether their symptoms of opioid withdrawal improved or worsened when they consumed cannabis. Of the 125 respondents who used marijuana to treat their withdrawal, nearly three-quarters (72 percent) said it eased their symptoms, while only 6.4 percent said it made them worse. Another 20 percent reported mixed results, and three people (2.4 percent) said cannabis didn’t seem to have an obvious effect either way. “These results show that cannabis may improve opioid withdrawal symptoms and that the size of the effect is clinically meaningful.”

A top Mexican senator says that marijuana legalization could generate tax revenue to offset economic losses caused by the coronavirus pandemic—and lawmakers could have the opportunity to advance reform in a committee that’s expected to be established on Thursday. Sen. Julio Ramón Menchaca Salazar of the ruling Morena party said that while legislators must still resolve disagreements about legislation that’s already been introduced and advanced through several committees last month , legalizing cannabis could fill treasury coffers at a time when the economy is taking a massive hit under social distancing and stay-at-home orders. Farmers in particular also stand to benefit, as the reform proposal would free them up to cultivate both marijuana and industrial hemp, he said. “We have this opportunity and we are going to take advantage of it,” Menchaca, who leads the Senate Justice Committee, told El Sol de Mexico over the weekend. “We will assume our responsibility, both in the Senate

An Oregon campaign to legalize psilocybin mushrooms for therapeutic purposes is within striking distance to qualify for the state’s November ballot. But with a deadline to submit signatures fast approaching, activists announced on Monday that they will be taking new steps to ensure success. So far, organizers have collected more than 130,000 signatures for Initiative Petition 34, which would make Oregon the first jurisdiction in the U.S. to implement a therapeutic legalization model for the psychedelic. While that raw total is more than is required, the signatures haven’t been certified by the state and the campaign is aiming to collect an additional 15,000 signatures as a buffer against invalid submissions ahead of the July 2 deadline. Tom Eckert, one of the chief petitioners behind the measure, said in a press release that the COVID-19 outbreak will likely exacerbate mental health issues that the initiative aims to address, demonstrating the need for the campaign to push ahead an

Montana advocates behind a proposed ballot initiative to legalize marijuana for adult use are facing resistance from top state officials over a lawsuit they filed requesting electronic signature gathering options amid the coronavirus pandemic. Lawyers representing the state attorney general and secretary of state filed a response to the suit last week, contending that there are no shortcomings with Montana election laws, and they blamed the campaign itself for failing to begin gathering signatures for their measure earlier. They implored the court to dismiss the lawsuit, and a hearing on the motion is scheduled for Tuesday. New Approach Montana filed the suit earlier this month , and they had two requests for the state: allow digital petitioning due to social distancing and stay-at-home orders and extend the deadline for signature submissions from June 19 to August 3. The state defendants in the case did not address the latter request in their new filing. The proposed statutory in

When the U.S. marijuana industry learned of a federal grand jury subpoena served to Weedmaps owner Ghost Management Group, the news was an eye-opener for many in the business. The story, first reported by MarketWatch in early March, noted that a few high-profile cannabis companies also were identified in the Weedmaps subpoena. But the original […] Sweeping Weedmaps subpoena underscores US government’s continued scrutiny of marijuana industry is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs Original Article Source: https://mjbizdaily.com/weedmaps-subpoena-underscores-us-government-scrutiny-of-marijuana-industry/

California-based Omura, a marijuana and hemp flower vaporizer company, raised $5 million, with a portion of the funding coming from Bruce Linton, former CEO and founder of Canada’s Canopy Growth Corp. The raise, while not major by cannabis industry standards, is significant during the global coronavirus pandemic when investments are more difficult to secure. Linton, […] Marijuana tech firm Omura raises $5 million, adds Linton as adviser is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs Original Article Source: https://mjbizdaily.com/marijuana-tech-company-omura-raises-5-million-adds-linton-as-adviser/

Hadley Ford resigned as CEO and a director of multistate cannabis operator iAnthus after a company investigation found he failed to disclose two loans totaling $160,000 in what was determined a “potential or apparent” conflict of interest. The announcement Monday comes in the wake of New York-based iAnthus defaulting on a $4.4 million interest payment […] Marijuana firm iAnthus’ CEO steps down after investigation into undisclosed personal loans is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs Original Article Source: https://mjbizdaily.com/marijuana-firm-ianthus-ceo-steps-down-undisclosed-personal-loans/

Over the past month, a slew of media stories focused on the sales spike the marijuana industry experienced in mid-March, as the coronavirus crisis took hold across the U.S. and panic-buying skyrocketed. California Marijuana Notebook: Despite media reports, it’s not ‘boom times’ for everyone in state’s cannabis industry is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs Original Article Source: https://mjbizdaily.com/california-marijuana-notebook-despite-media-reports-its-not-boom-times-for-everyone-in-states-cannabis-industry/

Marijuana lobbyists and a group of lawmakers are continuing their fight to include cannabis-related businesses in coronavirus relief packages. MJBizDaily takeaway: The marijuana industry is a significant contributor to state economies across the country. But because the plant is illegal federally, it remains an uphill fight to allow the businesses to be eligible for federal coronavirus […] Week in Review: Federal cannabis aid, California social equity, Brazil medical marijuana & more is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs Original Article Source: https://mjbizdaily.com/federal-cannabis-aid-california-social-equity-brazil-medical-marijuana/

Australia has published a framework for new CBD regulations as it considers relaxing its narcotics scheduling of cannabidiol to make it available over the counter in limited doses. Australia moves toward over-the-counter CBD sales is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs Original Article Source: https://mjbizdaily.com/australia-moves-toward-over-the-counter-cbd-sales/

An Oregon campaign to legalize psilocybin mushrooms for therapeutic purposes is within striking distance to qualify for the state’s November ballot. But with a deadline to submit signatures fast approaching, activists announced on Monday that they will be taking new steps to ensure success. So far, organizers have collected more than 130,000 signatures for Initiative Petition 34, which would make Oregon the first jurisdiction in the U.S. to implement a therapeutic legalization model for the psychedelic. While that raw total is more than is required, the signatures haven’t been certified by the state and the campaign is aiming to collect an additional 15,000 signatures as a buffer against invalid submissions ahead of the July 2 deadline. Tom Eckert, one of the chief petitioners behind the measure, said in a press release that the COVID-19 outbreak will likely exacerbate mental health issues that the initiative aims to address, demonstrating the need for the campaign to push ahead an