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Hello, cannabis enthusiasts! Patricio Liddle here. In today’s edition, we dive into President Biden’s controversial pardons and DEA transparency issues, explore the rising potential of hemp fiber beyond CBD, highlight Utah’s impressive reduction in opioid prescriptions through cannabis, and examine how Canada’s budget cuts are impacting its legal cannabis industry. Let’s get started!

Biden's Cannabis Legacy So Far: Family First Pardons And DEA Drama

President Biden’s decision to pardon his son Hunter has ignited controversy, especially when contrasted with his unmet promise to pardon thousands of prisoners who are victims of the war on drugs. While Hunter walks free, around 3,000 individuals remain behind bars for simple marijuana possession, fueling frustration among advocates. As of today, not a single inmate has been freed.

Adding fuel to the fire, the DEA faces a lawsuit for allegedly concealing communications with the anti-cannabis group Smart Approaches to Marijuana (SAM). This legal battle casts shadows on the DEA’s transparency and could hint at potential bias in cannabis rescheduling efforts. 

As Biden navigates these political potholes, the cannabis community watches closely, hoping that he can still honor his promise and prevent his administration from being remembered as yet another chapter of hypocritical prohibitionism.

PRESENTED BY REMEDY

Remedy Maryland presents Minorities in Cannabis an annual MJ BizCon aligned event to bring together minority, women, and veteran operators and influencers alike to help curate and foster an ecosystem.

Reach out to Brandon at Remedy to RSVP if you are at MJBiz this week.

Beyond The CBD Bubble: Hemp Fiber's Potential

The U.S. hemp industry is evolving beyond CBD, with hemp fiber emerging as a stable, eco-friendly alternative. Dr. David Suchoff from NC State University explores how optimal harvest timing and environmental factors can enhance fiber quality and yield. Curious about how hemp fiber can boost sustainable manufacturing? Read Nico’s full story here!

Utah’s Cannabis Boosts Health And Minds

Utah is seeing cannabis make a real difference, with a recent study showing a 53% drop in opioid prescriptions among chronic pain patients using cannabis. Vapes and gummies are the top choices, though high prices are nudging some to buy from neighboring states.

Meanwhile, the University of Utah is pioneering academic exploration with its new Feminist Cannabis Studies course, delving into cannabis history, culture, and social justice.

Canada’s Cannabis Faces Budget Squeeze

Canada’s cannabis sector is navigating a rocky path as Health Canada slashes $14.6 million from its cannabis program over the next three years. These cuts raise concerns about potential impacts on services and employment, especially as the legal market grapples with declining sales and shrinking profit margins amid a robust illicit market. 

Amid these challenges, High Tide Inc. is making waves by expanding its Cabana Club membership globally to the U.S., EU, and UK, introducing new product categories like international snacks and CBD items. This strategic move has paid off, with High Tide’s NASDAQ-listed stock soaring over 21% in the last two trading sessions, signaling strong investor confidence.

As the industry faces federal austerity, High Tide’s innovative approach highlights opportunities for growth despite broader market struggles.

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Stories In The Spotlight:

• Kelly Slater Talks Psychedelics: Healing Trauma And Unlocking Potential

• Veterans Seek Healing Through Psychedelic Therapy As Seen In New Documentary 'In Waves And War'

Our Writer Today

Patricio is a development economist with extensive experience in IT, finance, and banking. He writes about the economic and social opportunities obscured by over half a century of failed drug prohibition. Beyond his professional expertise, Pato is a committed advocate for social change, passionately working to promote harm reduction and reform drug policies.

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