Weed legalization supported by majority of U.S. voters
According to a survey conducted by polling firm Data for Progress, most voters support legalising recreational cannabis at the federal level, writes Morgan Paxhia for Kiplinger.
According to they survey:
- 65% of Americans are in favour of the legalisation of cannabis.
- 75% of Democrats support ending cannabis prohibition.
- 67% of Independents support ending cannabis prohibition.
- 52% of Republicans support ending cannabis prohibition.
Data for Progress stated: “It is time for the U.S. government to right its previous wrongs from the failed ‘War on Drugs’ and legalise recreational cannabis while giving back to those communities who were heavily affected.”
Tilray Brands: more than a cannabis stock
Seeking Alpha writes that Tilray Brands (TLRY) stands in a strong position as it awaits legalisation that would allow the company to secure a substantial share in the global cannabis market.
Noting that the main catalyst for Tilray is the U.S. legalisation of cannabis, the company could capitalise on its existing supply chain networks, ability to raise capital, and international presence to gain market share in the U.S.
It also highlights that, as this legalisation is not guaranteed, the company is diversifying through its beer and spirits business in the U.S..
Penny Stock Today writes: “…Tilray Brands, Inc. is better-positioned to realise its promised potential compared to other Canadian LPs. With that in mind, TLRY has an impressive portfolio of cannabis products for medical and recreational use.
“At the same time, TLRY is well-prepared for that legalization through its potential ownership stake in MedMen, which provides the company with exposure to the U.S. market in many lucrative states including California and New York.”
Delaware lawmakers file cannabis legalization bills, with hearings already set for next week
Delaware lawmakers have a pair of complementary bills on Friday that would end cannabis prohibition and set up a basic regulatory framework for the market, writes Marijuana Moment. Committee hearings on the proposals are set for next week.
The bills would:
- Legalize possession, use, sharing and purchasing of up to one ounce of cannabis for adults 21 and older.
- It will not enable “adult sharing”, including giving away cannabis.
- Public consumption and growing cannabis would remain prohibited.
- People under 21 who engage in such activity would be subject to a civil penalty of up to $100 for a first offense.
Lead Senate sponsor of the bills, Sen. Trey Paradee (D), said: “Every year we don’t pass these bills, Delaware misses out on millions in revenue. From both an economic and a criminal justice perspective, legalising and regulating the sale of cannabis is the right thing to do.
“I will continue to serve as the lead Senate sponsor on these bills for as long as it takes to for them to become law.”
UK MEDICAL CANNABIS
UK’s medical cannabis industry enjoys strong start to 2023
Last week a flurry of positive announcements from across the UK’s medical cannabis industry were unveiled in signs the industry is wasting no time in shaking off the stagnation of 2022, writes BusinessCann.
- New figures that show that privately prescribed unlicensed cannabis-based medicines between November 2018 and January 2022 were 47,525.
- Khiron Life Sciences announced that it had received, ‘for the first time, full reimbursement by the NHS of costs associated with cannabis-based medication’.
- Celadon Pharmaceuticals announced that the MHRA had granted it an EU GMP licence for the manufacturing of high-THC APIs.
- GW Pharma, Brains Bioceutical, Pharmaron Manufacturing, and Sterling Pharma Solutions have all received EU GMP approval from the MHRA to produce CBD-based APIs.
- Hilltop Leaf announced that it had secured £2m in private investment from Traditum and other investors.