Welcome to “Cannabis News Today,” a summary of the stock and regulatory updates for the Cannabis Industry.
Cannabis Industry Faces Legal and Financial Challenges
In the yesterday episode of the “Trade to Black” podcast, we discussed updates for the cannabis industry, focusing on strategic litigation, state-level advancements, and financial regulations. The dismissal of a lawsuit aiming to block federal prohibition is seen as a strategic move towards higher courts, potentially setting the stage for more favorable federal regulations. Anthony Coniglio, CEO of NewLake Capital (OTC:NLCP), emphasized the importance of clear IRS rules, especially as potential rescheduling to Schedule III could ease financial burdens on cannabis companies. Read all about it on the TDR Website!
Nebraska Medical Marijuana Activists Push for Signatures
Nebraska medical marijuana activists are in a race against time as they need 12,000 more signatures by Wednesday’s deadline to get their legalization initiative on the ballot. This marks the third attempt by Nebraskans for Medical Marijuana to bring medical cannabis to voters, highlighting the persistent effort despite past funding challenges.
North Dakota Voters Oppose Legalization Initiative
In North Dakota, a new poll reveals that a majority of voters oppose the upcoming marijuana legalization ballot initiative, even as the campaign edges closer to reaching the required number of signatures. The mixed sentiment poses a significant challenge for advocates as they push for the initiative to be included in the November elections.
Trulieve Expands in Florida
Trulieve (CSE: TRUL, OTCQX: TCNNF) has announced the opening of two new medical cannabis dispensaries in Florida, located in Madison and Panama City. This expansion aims to increase access to medical marijuana for patients in these areas, reinforcing Trulieve’s commitment to enhancing healthcare services across the state.
Skye Bioscience Joins Russell Indexes
Skye Bioscience (Nasdaq: SKYE) has been added to the Russell 2000 and Russell 3000 indexes, a move expected to increase the company’s visibility among investors. This inclusion is a significant milestone for Skye Bioscience, reflecting its growth and potential in the cannabis biotech sector.
Martha’s Vineyard Cannabis Retailer Reopens
A cannabis retailer in Martha’s Vineyard has reopened after receiving approval to make waterway deliveries. This development is part of a broader effort to improve accessibility and convenience for consumers in the area, particularly during the busy summer season.
Read more cannabis news on the TDR Website!
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