Italy Moves to Restrict ‘Cannabis Light’ industry.
A draft law by Italy’s premier, Giorgia Meloni, bans the sale of products made with the hemp flower, creating an obstacle for the fast-growing “cannabis light” industry of Italy.
This campaign seeks to strengthen public morals and conservative values.
While hemp, containing very low levels of THC and higher concentrations of CBD, was legalized for commercial sale in 2016 due to its utility for industrial applications, the government now wants to ban products made from hemp flowers due to concerns over public safety.
Advocates say these flowers are crucial to economic endeavours, generating much of the industry’s revenue.
The proposed ban has passed the lower house and awaits Senate approval amidst criticisms of Meloni’s conservative policies marginalizing liberal perspectives and potentially endangering thousands of jobs and significant investments.
Source: Reuters
New York Bans Sale of Caffeine-infused Cannabis Products
Caffeine-infused cannabis pills – made by firms like 1906 and sold by Hudson Cannabis – are prohibited from sale according to New York State regulators.
The recalled products—with names like “Go” and “Genius”-contained low-dose THC combined with CBD or CBG and very high levels of caffeine, promoters claim, to provide energy and support focus.
State inspectors ordered a stop order on July 24, citing a potential public health risk from the combined ingredients.
That has surprised and disappointed the manufacturer and retail sellers, who contend the products have demonstrated no adverse effects in over a year of sales.
The company has filed an appeal. With an administrative hearing pending, the health impacts of mixing cannabis with caffeine are understudied and unknown.
Source: New York Post
Cannabis Couriers Duped by UK Drug Traffickers
Hundreds of cannabis couriers have been caught trying to smuggle suitcases full of weed through UK airports, it can be revealed. Traffickers are duping them into thinking UK authorities are soft on cannabis and will let them off with a fine, the National Crime Agency says.
Officials say most of the couriers-who can be paid up to £10,000-are arriving from countries that have legalized cannabis for personal use and allow its cultivation.
These include about a dozen countries, including Canada, Thailand, Germany and parts of the United States.
In 2022, there were 17 such arrests, 136 last year, and so far this year, there have been 378. In the same period, the amount of cannabis seized rose from two to 15 tonnes.
Source: Sky News
Cannabis Stock Valuations Held Back by Regulatory Uncertainties
A New York City conference of investors focused on the Business of Cannabis remained mired by the regulatory uncertainties dogging cannabis stock valuations and investments.
Even with New York’s cannabis market on pace to approach $1 billion in sales for 2024, slow state permit processes and too little startup financing are dampening investor enthusiasm.
Federal-level uncertainties pertain to possible cannabis reclassification and the outlook on the 280E tax rule. Investors such as Sergey Sherman of Tuatara Capital have avoided equity investments within New York, though they have participated in the Cannabis NYC Loan Fund for debt capital.
Panellists like Dai Truong and Brett Finkelstein highlight the difficulties and scepticism due to yet to be decided regulatory changes.
With diverse investor strategies focusing on technology services and emerging markets, legal professionals remain the primary beneficiaries amid ongoing industry volatility.
Source: MarketWatch
Cannabis Use by Older Adults for Symptom Management of Dementia
More adults engage in cannabis use for sleep, anxiety, and pain, even the management of dementia. Some doctors who have prescribed cannabis to dementia patients even report that anxiety, agitation, and mood improve.
Around 20% of dementia patients seek cannabis consultations when conventional medications prove ineffective or causes excessive side effects.
Cannabis causes sleepiness, which increases the hazard of falls in older adults and weakens the cognitive function in patients who have Alzheimer’s disease.
Most doctors prescribe cannabis for mid-to-late-stage dementia and recommend that more research is needed on most of its stages.
A combination of CBD with THC is generally prescribed to reduce psychoactive effects and, in many cases, increase benefits.
Current studies, including one by the National Institute on Ageing, test these combinations in hospice-eligible dementia patients.
Preliminary studies show some possible benefits for agitation but possible adverse side effects such as drowsiness.
Source: The Wall Street Journal
