Start your day with our News Update, where we bring you a comprehensive roundup of the latest headlines from the past 24 hours. In this edition, we cover the recent struggles of cannabis companies who carry debt, addressing cannabis pesticide contamination, local market updates, and more!
Join us as we dive into the latest developments and insights shaping the cannabis and psychedelics industry.
BUSINESS:
States deny licenses to cannabis companies with debt issues: Regulators are cracking down on cannabis companies with outstanding debt and unpaid vendors, denying them licenses. [MJBizDaily]
South Africans use power outage app for selling weed: A power outage notification app in South Africa is being used for selling weed and finding odd jobs, despite restrictions on mass production and sale. [Flipboard]
New York cracks down on unlicensed marijuana sellers: New York officials have initiated a crackdown on unlicensed marijuana sellers, taking action against illegal operators in the state. [Green Market Report]
Cannabis industry embraces AI and blockchain with BudBuddy: The cannabis industry explores the integration of AI and blockchain technologies for innovation and growth opportunities. [Artificial Intelligence on Medium]
Green Check Verified Acquires Komplyd: Green Check Verifies (GCV), a Bonita Springs, FL-based fintech provider of compliant cannabis banking solutions and business services, acquired Komplyd, a San Jose, CA-based provider of a purpose-built compliance-as-a-service platform designed for business applications targeting the cannabis industry. [FinSMEs]
Unions file complaints against marijuana companies: Labor unions in the cannabis industry assert their legal and political influence by filing unfair labor practice complaints against marijuana companies. [Green Market Report]
Michigan cannabis sales experience a slight decline: Cannabis sales in Michigan see a minor decrease of 0.1% in May compared to the previous month. [New Cannabis Ventures]
RESEARCH:
Scientists awarded for pioneering weight-loss drugs: Habener, Holst, and Daniel Drucker were recognized for their work on GLP-1 hormone and its role in weight-loss drugs. [Wired UK]
USFDA approves clinical trial of LaNeo MDMA: The US FDA has approved a clinical trial using LaNeo MDMA, an investigational medical product. [BioSpace]
Study reveals it’s not the chemicals that cause addiction: A study challenges the notion that chemicals alone cause addiction, highlighting the importance of environmental and social factors. [Hacker News]
French scientists develop new treatment for cannabis addiction: French scientists create a new treatment for cannabis use disorder that acts as an inhibitor to reduce side effects without triggering withdrawal symptoms. [Tech Times]
Psychedelics found to have rapid and lasting antidepressant effects: A multinational research team discovers that psychedelics have a more rapid and longer-lasting antidepressant effect compared to traditional antidepressant drugs. [Nutrition Insight]
POLICY:
Shopee takes action against illegal drug sellers in Indonesia: Shopee has blocked accounts of sellers involved in the trade of illegal drugs and food on its platform in Indonesia. [Ecommerce – Tech in Asia]
Online illegal drug sales linked to teen’s tragic death: The ease of accessing illicit drugs through online channels is highlighted in a tragic case involving a teen who acquired a dangerous substance online. [Tech Times: Latest News]
Washington becomes a “right-to-weed” state: Washington state passes a law that prohibits employers from discriminating against individuals based on their marijuana usage, joining the ranks of “right-to-weed” states. [National Law Review]
Shopee blocks accounts of illegal drug sellers in Indonesia: Shopee, an e-commerce platform, takes measures to block the accounts of sellers involved in the trade of illegal drugs and food in Indonesia. [Ecommerce – Tech in Asia]
Alabama begins issuing medical marijuana licenses: Authorities in Alabama start granting medical marijuana business permits, marking progress in the implementation of the state’s medical cannabis program. [Green Market Report]
New Jersey expunges 23,000 cannabis possession charges: Rhode Island’s judiciary expunges 23,000 criminal records related to cannabis possession in accordance with the state’s adult-use cannabis law. [Ganjapreneur]
Thailand reconsiders cannabis decriminalization: Amid concerns, Thailand reevaluates its stance on cannabis decriminalization, raising uncertainty about the future of the country’s booming cannabis industry. [Cannabis Business Executive]
PRODUCTS:
PhytoCann BP®, next generation black pepper extract: Distributed in the US by Faravelli Inc, PhytoCann BP® is a next generation black pepper extract titrated in phytocannabinoids and other terpenes, with demonstrated cannabinoid activity, without traces of THC or CBD. [Food Dive]
Washington state cannabis regulator addresses pesticide contamination: Washington’s cannabis regulator provides an update on pesticide contamination in marijuana produced in the north-central region of the state. [MJBizDaily]
CULTURE:
Psychedelic folk-pop discoveries with Jasper Verhulst: Jasper Verhulst discusses his favorite psychedelic folk-pop recordings and their influence on his music. [The Vinyl Factory]
EDUCATION:
EVENTS:
VOICES:
Keep Yourself Informed
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Disclaimer: Our Daily Updates are created using AI tools. PsychePen is an AI author who is constantly improving. We appreciate your kindness and understanding as PsychePen continues to learn and develop.
