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Patients Frequently Use Cannabis As A Sleep Aid According To Australian Survey

Insomnia is a major problem around the world. Whether people suffer from insomnia as a primary condition, or it is caused by a different primary condition, an inability to fall asleep and/or stay asleep can have a massively negative impact on a person’s overall health, both physically and mentally.

When a human is sleep deprived, they become more irritable, and handling daily tasks becomes more difficult. A lack of sleep impairs brain functions such as memory and decision-making, and it can lead to depression. Physically, insomnia can impair patients’ immune systems, among other concerns.

The cannabis plant has served as a sleep aid for many insomnia sufferers over many years, and that appears to be the case in Australia according to the results of a recent survey. Below is more information about it via a news release from NORML:

Sydney, Australia: Patients frequently report consuming cannabis to treat sleep-related issues, particularly insomnia, according to survey data published in the journal Nature and Science of Sleep.

Researchers affiliated with the University of Sydney surveyed 1,600 Australians regarding their use of medical cannabis.

Sixty-four percent of those surveyed acknowledged consuming cannabis to mitigate symptoms of a sleep disorder, typically insomnia.

Most respondents said that cannabis greatly improved their sleep quality. A majority of respondents also said that they decreased their consumption of benzodiazepines and alcohol following their use of cannabis – a finding that is consistent with other studies.

Those who reported consuming cannabis were most likely to acknowledge using THC-dominant cannabis products.

“[Our study] shows that the majority of participants reported an improvement in their subjective sleep symptoms since commencing medical cannabis,” authors concluded. “[I]t is imperative that randomized, placebo-controlled trials using quality-assured products are conducted to better understand the safety and efficacy of cannabinoid treatment in patients with clinician-diagnosed sleep disorders.”

The survey’s findings are similar to those of numerous other studies documenting that patients with insomnia and other sleep disorders report subjective improvements following cannabis use. Data published in the journal Complementary Therapies in Medicine reported that the enactment of adult-use marijuana legalization laws is associated with a significant reduction in the sales of over-the-counter sleep aids among the general public.

Full text of the study, “Medical cannabis use patterns for sleep disorders in Australia: Results of the cross-sectional CAMS-20 survey,” appears in Nature and Science of SleepAdditional information on the use of cannabis for insomnia is available from NORML’s publicationClinical Applications for Cannabis and Cannabinoids.

Terpenes Enhance THC’s Ability To Interact With Endogenous Receptor

For many years very little was known about cannabis terpenes. Terpenes are the compounds contained in the cannabis plant that gives it its smell. Scientists currently estimate that the cannabis plant contains over 150 different terpenes, with different genetics containing different ratios of terpene levels.

An example of a cannabis terpene is pinene, which is one of the most common terpenes found in cannabis terpene profile testing results. Pinene is known for having a forest-type smell, and can also be found in pine nuts, rosemary, and sage.

Researchers in Israel recently examined cannabis terpenes and how they interact with the endogenous CB1 receptor, and what they found regarding THC’s interaction with the receptor and terpenes could change the way cannabis products and treatments are developed going forward. Below is more information about it via a news release from NORML:

Jerusalem, Israel: Terpenes in the cannabis plant enhance the ability of THC to interact with the endogenous CB1 receptor, potentially heightening its effects, according to preclinical data published in the journal Biochemical Pharmacology.

Israeli scientists evaluated the role of terpenes in CB1 receptor-mediated functions. Researchers also assessed the extent to which terpenes acted as direct CB1 receptor agonists and as modulators of THC agonism.

Researchers reported certain terpenes – including borneol, geraniol, limonene, linalool, ocimene, sabinene, and terpineol – amplified THC activity at the CB1 receptor, even at low quantities.

They reported: “The results demonstrate that all terpenes, when tested individually, activate CB1 receptors, at about 10-50 percent of the activation by THC alone. The combination of some of these terpenes with THC significantly increases the activity of the CB1 receptor, compared to THC alone. In some cases, several fold. Importantly, this amplification is evident at terpene to THC ratios similar to those in the cannabis plant, which reflect very low terpene concentrations.”

Authors concluded: “The use of selected terpenes may enable reducing the THC dose in some treatments, and as a result, potentially minimizing the THC-related adverse effects. This would also help in adjusting the treatment to more sensitive populations such as children and elderly. Enrichment with selected terpenes may allow for composition adjustment to personal needs and to changes during chronic use, such as for daytime versus for sleep.”

The findings expand upon those of a 2021 study documenting that certain terpenes activate CB1 and CB2 receptors, and that the combined administration of cannabinoids and terpenes produce additive effects. Authors of that study similarly suggested, “[T]erpenes could be used to enhance the analgesic properties of cannabis/cannabinoid therapy, without worsening the side effects of cannabinoid treatment.”

A study published earlier this year reported that cannabis flowers with elevated levels of the terpenes myrcene and terpinolene are associated with greater perceived symptom relief among patients.

Full text of the study, “Selected cannabis terpenes synergize with THC to produce increased CB1 receptor activation,” appears in Biochemical Pharmacology.

 

Canadian Study Finds Cannabis Products Effective In Self-Management Of Myofascial Pelvic Pain

Myofascial pelvic pain syndrome is a health condition involving pelvic pain that is often described by sufferers as ‘short, tight, tender pelvic floor muscles that can include palpable nodules or trigger points.’

While it’s unclear how many people around the globe suffer from the condition, it is estimated that 22% to 94% of cases of chronic pelvic pain involve myofascial pain. Chronic pelvic pain is one of the most common gynecologic conditions around the planet.

Treatments for myofascial pelvic pain vary from patient to patient, with many patients relying on their own regimens for treatment. Cannabis is a popular medicine for sufferers, and according to a recent study in Canada, there’s good reason to incorporate it into treatment strategies. Below is more information about it via a news release from NORML:

Vancouver, Canada: A significant percentage of women suffering from myofascial pelvic pain (MPP) acknowledge using cannabis and/or cannabis-products as a way to effectively mitigate their symptoms, according to data published in the European Journal of Obstetrics & Gynecology and Reproductive Biology.

Canadian investigators surveyed 135 female patients with MPP, 57 percent of whom acknowledged using cannabis. Among marijuana consumers, 79 percent said that they used cannabis products to treat their pelvic pain. Nearly eighty percent of those respondents said that they began using cannabis because conventional treatments were ineffective. Nearly half of consumers said that they used cannabis daily, and more than half did so via inhalation.

“On a scale of zero (totally ineffective) to 10 (totally effective), 69 percent of users rated the effectiveness of cannabis as 7 or higher at relieving pelvic pain,” authors reported. Among non-users, 64 percent said that they “would be willing” to try cannabis as an option to treat pelvic pain.

A survey’s findings are consistent with those of prior studies finding that an increasing percentage of patients with pelvic pain are accessing either cannabis or cannabis products, and that those patients who do so are consuming fewer opioids.

Full text of the study, “Cannabis use preferences in women with myofascial pelvic pain: A cross-sectional study,” appears in the European Journal of Obstetrics & Gynecology and Reproductive Biology.

UK Study Fails To Identify Cannabis As A Risk Factor For Development Of Psychosis

Cannabis opponents and mainstream media outlets have claimed for many years that cannabis is bad for human brains. As part of their claim, opponents often suggest that cannabis use causes psychosis.

Psychosis is a serious mental health condition that is always worthy of research and thoughtful discussion, which is why public health strategies should be led by science and not the harmful political views of a small group of lawmakers.

Researchers in the United Kingdom recently conducted a study in which they examined what, if any, role cannabis use plays in the development of psychosis. Below is more information about the study’s findings via a news release from NORML:

London, United Kingdom: A history of cannabis use is not associated with an increased risk of developing psychosis, even among those predisposed to the disorder, according to data published in the journal Psychiatry and Clinical Neurosciences.

A team of investigators from Australia, Europe, and the United Kingdom examined the association between cannabis use and incidences of psychotic disorders in clinically at-risk subjects. Researchers assessed subjects at baseline and then followed them for a period of two years.

They reported: “There was no significant association between any measure of cannabis use at baseline and either transition to psychosis, the persistence of symptoms, or functional outcomes.”

Authors concluded,  “Our primary hypothesis was that cannabis use in CHR [clinically high risk] subjects would be associated with an increased rate of later transition to psychosis. However, there was no significant association with any measure of cannabis use. … These findings are not consistent with epidemiological data linking cannabis use to an increased risk of developing psychosis.”

Although the use of cannabis and other controlled substances tends to be more common among those with psychotic illnesses, studies indicate that lifetime incidences of acute marijuana-induced psychosis are relatively rare among the general population.

Data published last year in the New Zealand Medical Journal reported that those with a history of cannabis consumption do not typically exhibit more severe symptoms of psychosis than do those with no history of regular use.

Full text of the study, “Influence of cannabis use on incidence of psychosis in people at clinical high risk,” appears in Psychiatry and Clinical Neurosciences.

Germany’s Health Minister Should Not Be Scared Of Legal Cannabis Edibles

Cannabis-infused edibles are not only a growing sector of the emerging legal cannabis industry; they play a vital role in boosting public health outcomes. After all, it is no secret that a lot of consumers light cannabis flower on fire and inhale the smoke. While cannabis smoke is not the same as tobacco smoke, it’s still better in nearly every instance for someone to refrain from inhaling smoke and instead consume something in a smokeless form.

To be clear, I am not shaming anyone for smoking cannabis, and I will be the first to point out that I do it myself every single day. For many consumers, it’s the easiest and most affordable way to consume cannabis. With that being said, legal cannabis edibles are a vital component of any winning cannabis public policy strategy that is geared towards boosting public health outcomes, such as what is being pursued in Germany.

German ministers unveiled a long-awaited national cannabis reform strategy earlier this month, with the plan involving legalizing personal freedoms such as possession and cultivation, as well as legalizing noncommercial cannabis clubs. Those components will serve as the first facet of a multi-pronged approach to legalization, followed by the launch of regional pilot programs.

If Germany’s Health Minister has his way, legal cannabis edibles will not be a part of the equation, and if so, that will be truly unfortunate:

Minister Lauterbach’s quote auto-translates from German to English to: “That has to go,” says @Karl_Lauterbach about hash cookies. So-called edibles “are often aimed at children and young people in a dangerously trivializing way. I don’t want them.”

For many years unfounded fears of legal cannabis edibles served as a go-to talking point for cannabis opponents. To some extent that is still the case, so it is unfortunate to see Minister Lauterbach echoing it. Minister Lauterbach should consider what legal jurisdictions are already doing to mitigate what he claims to be concerned about.

For starters, legal adult-use edibles are only sold via regulated outlets to people who can sufficiently prove that they are adults. Compare that to what is happening in Germany right now, where a thriving unregulated edibles market already exists and presumably no one is checking anyone’s ID.

Additionally, legal markets have advertising regulations in place pertaining to cannabis products, including no use of names, characters, or in some cases even shapes that can be construed as being ‘aimed at children and young people.’ Furthermore, packaging regulations are such in legal markets that everything needs to be in child-proof containers before being provided to consumers.

Clearly, there are reasonable steps that can be taken to help mitigate Minister Lauterbach’s professed fears. If other jurisdictions can do it, so can Germany. Otherwise, if cannabis edibles remain prohibited in Germany, the unregulated market will continue to fill the supply void, and obviously, the demand is not going to go away.

If Germany truly wants to legalize cannabis in a manner that boosts public health outcomes, edibles have to be a part of the legalization model. Consumers should not be forced toward inhaled cannabis products if they would prefer smokeless forms of cannabis. Just as consumers in Germany deserve to purchase and consume tested, regulated cannabis flower, so too should they be able to purchase and consume tested, regulated edibles.

How Will Germany’s Legalization Model Compare To Other Legal Jurisdictions?

Adult-use cannabis policy is taking shape in Germany after many details were provided during a press conference held earlier this month. While there are some details that need to be further explored, below is what we know right now regarding the first phase of legalization according to the current plan:

  • The legal age will be set at 18 years old
  • Personal possession will be limited to 25 grams
  • Personal cultivation will be limited to 3 plants
  • Noncommercial cannabis clubs will be permitted

The components listed above will serve as the foundation for the first phase of a multi-faceted approach to cannabis reform in Europe’s largest economy. The second phase of the plan will result in regional adult-use cannabis commerce pilot programs, which for the providers and consumers involved, will yield a situation in which adult-use cannabis purchases are completely legal.

Government officials in Frankfurt and Offenbach have already declared their intent to launch such programs, and it’s guaranteed that they will not be the last jurisdiction to do so. It’s quite possible that pilot programs will proliferate in Germany in the coming years.

The second phase will take longer to implement being that more rules and regulations will be involved compared to the first phase of German legalization, and from that standpoint, it’s a good thing that it’s operating on its own timeline separate from the first phase of legalization.

A third phase for German legalization is also being pursued in the form of an ongoing effort to obtain the European Union’s approval for regulated national sales. Germany’s Health Minister Karl Lauterbach has led that effort since October 2022. So far, the EU has unfortunately refrained from granting such approval.

However, even without nationwide sales to anyone of legal age Germany’s model will still be closer to legalization found elsewhere on the planet than many people may think.

Cannabis Legalization In Uruguay

Uruguay became the first country on earth to pass a national adult-use cannabis legalization measure back in 2013. Although, legal sales at pharmacies did not begin until 2017, which is a fact that many international cannabis observers seem to forget. Much like Germany’s approach to legalization, Uruguay rolled out its legalization model in phases.

The legal age for cannabis in Uruguay is the same as what is being considered in Germany, 18 years old, and home cultivation is permitted (up to 6 plants) in addition to noncommercial cannabis clubs. The possession limits in Uruguay are somewhat unique, in that there are per-month possession and purchasing limits. Taking all of that into consideration, the first phase of German legalization will look a lot like the first phase of legalization in Uruguay.

Uruguay’s legalization model has its limitations, which is true of any legalization model on earth that is currently in existence. Arguably the most notable limitation of Uruguay’s legalization model is that it is for citizens and permanent residents – not tourists. Furthermore, while sales became legal at pharmacies to citizens and residents in 2017, the types of products available to consumers are limited and involve THC percentage caps.

Between 2017 and late 2022, pharmacies in Uruguay were only permitted to sell two varieties of cannabis flower, “alpha” and “beta.” Both options have a THC level of less than or equal to 9% and a CBD level of greater than or equal to 3%. It wasn’t until December 2022 that a third option became available, “gamma,” which contains a THC percentage that is ‘less than or equal to 15%, and a CBD percentage that is less than or equal to 1%.’

Comparing the current situation in Uruguay to Germany’s eventual proposed second phase of legalization demonstrates that the two models are not nearly as different as many cannabis observers seem to be indicating. And whereas Uruguay does not currently appear to have plans to expand its legalization model, Germany’s pursuit of robust, regulated national sales to anyone of legal age is ongoing (and gaining momentum).

Cannabis Legalization In Canada

Canada is currently the only country on earth where someone of legal age (at least 18 years old) can legally purchase a wide variety of cannabis products nationwide regardless of their residency status. Canada became the second country to legalize cannabis for adult use, including sales, back in 2018.

However, Canada’s legalization model also has its limitations. For starters, while cannabis may be available nationwide to some degree, there are still local commerce bans in place. Consider the fact that policymakers in Mississauga, Ontario voted just last week to eventually permit legal retail sales within their jurisdictional boundaries. Canada’s Supreme Court ruled this month that jurisdictions can also ban home cultivation entirely.

The first and second phases of legalization in Germany will obviously not result in the same overall variety of consumer options compared to what can be found in Canada right now for everyone of legal age. However, for people that live in Canada where home cultivation and/or retail sales are still prohibited, comparing their situation to someone in future Germany who can cultivate their own cannabis, join a noncommercial cannabis club, and sign up for a local pilot program highlights that the ‘legalization gap’ will not be as wide for many consumers in Germany compared to Canada soon. At least not as wide as many people may think.

Cannabis Legalization In Malta

Malta will forever hold the distinction of being the first European country to pass a national adult-use legalization measure, having done so in late 2021. With that being said, Malta’s legalization model is much more limited in size and scope compared to Uruguay and Canada.

The legal age for adult-use cannabis in Malta is also 18 years old. Like Canada, adults in Malta are permitted to cultivate up to four cannabis plants, and like Uruguay, Malta will eventually permit noncommercial cannabis clubs. Yet, unlike Uruguay and Canada, there will be no other means in Malta by which to legally acquire legal cannabis other than gifting – no pharmacy or store sales.

Malta’s adult-use possession limit is set at 50 grams, which will likely be the only component of Malta’s adult-use legalization model that is better than what will be implemented in Germany under the nation’s first phase of legalization. Once the second phase of legalization is launched, Germany’s model will be superior to Malta’s by every measure outside of the personal possession limit parameter.

Cannabis Legalization In The United States

The United States is home to a unique set of cannabis policies and regulations. At the federal level cannabis remains prohibited in the United States to a large degree, however, legalization at the state level is becoming increasingly more common with every passing election and legislative session.

Yet, even in legal states like Oregon where I live, there are still local jurisdictions that prohibit cannabis sales. Also, the legal age in the United States (state-level) is 21 years old. Furthermore, there are legal states in the U.S. that still prohibit home cultivation, with Washington State being a notable one. Washington voters approved a legalization measure in 2012 and yet adults still cannot legally cultivate cannabis for recreational purposes there.

The State of Vermont passed a legalization measure in 2018, however, legalization in the Northeastern state did not include regulated cannabis sales upon initial passage. That didn’t happen until years later. No two states in the U.S. have passed an identical legalization measure, and no two states have entirely identical cannabis regulations. What legalization looks like in the U.S. depends on which jurisdiction you are in, and even within legal states, options afforded to consumers often vary from city to city and county to county.

Evolving Standards For Legalization

What constitutes legalization these days is not as straightforward as it seemed to be not that many years ago. As a longtime cannabis activist in the United States, I remember at the start of the 2010s that simply being able to legally possess and consume cannabis was considered by many to constitute legalization.

Zoom forward to today, and if you ask, ‘what is true cannabis legalization?’ to a group of five cannabis enthusiasts you will probably get twelve different answers. Many cannabis advocates in the United States feel that unless home cultivation is permitted, then true legalization is not achieved. Conversely, many advocates in Europe seem to feel that if national sales are not permitted, then true legalization is not achieved. Often lost in the discussion on both sides of the Atlantic is people recognizing that what is important in a legalization model to one person may not be the same to the next person and that there likely is no ‘right’ answer.

When Thailand implemented its cannabis reform measures last year, many people in the international cannabis community touted it as legalization. That, despite Thailand only legalized low-THC cannabis at a THC threshold that is considerably lower than what is already common in Europe.

Back in September 2018, South Africa’s top court issued a ruling striking down cannabis prohibition as it pertained to personal consumers. At the time, the decision was touted by media outlets around the world as South Africa having ‘legalized cannabis.’ Something similar also happened in Mexico in 2018 and in Italy in 2019 after historic cannabis court decisions were rendered in those countries.

Evolving Cannabis Landscape In Germany

All the examples of legalization in jurisdictions around the world cited in this article provide important context to what is happening in Germany right now, and how the nation’s approach to legalization fits into the bigger picture. That is a vital consideration that must be made by people trying to anticipate where things are headed in the coming years, not only in Germany but also in the rest of Europe.

Europe’s cannabis legalization model is taking shape, and there will seemingly be a heavy reliance going forward on home cultivation, gifting, noncommercial clubs, ‘cannabis light,’ and regional adult-use pilot programs. Whenever national sales arrive for anyone and everyone of legal age within Germany’s borders, whenever that ultimately occurs, the actual leap will likely end up not being nearly as great as it probably seems like it will be right now.

Phase one of German legalization is a really big deal by many measures. Cannabis prohibition is a failed public policy in Germany, and it’s time for a more sensible approach, particularly as it pertains to individual liberties.

Thankfully, the first phase of German legalization is not a final destination, but rather, just one of the multiple stops along the way toward comprehensive national reform. Things are evolving rapidly in Germany right now, and that is already having a butterfly effect on the continent. Make sure to head to Berlin in June to attend the International Cannabis Business Conference and find out the latest and greatest information straight from the international cannabis experts that are on the frontlines of policy and industry.

Frankfurt And Offenbach Declare Intent To Launch Pilot Adult-Use Cannabis Sales

A little over a week ago federal ministers in Germany held a press conference in which they provided details regarding the nation’s current legalization plan. The plan has two phases, with the first involving legalizing personal cannabis possession, use, and cultivation, as well as permitting noncommercial cannabis clubs.

The second phase of legalization in Germany will involve the launch of localized adult-use cannabis commerce pilot projects, sometimes also referred to as ‘model region’ projects. The projects will allow localities to launch regional, regulated cannabis sales in Germany for regulatory research and public policy development purposes.

While much is yet to be determined regarding what exact regulations will be involved, there are some components that are out to the public now after the April 12th press conference, and at least two jurisdictions in Germany are already declaring their intent to pursue pilot projects.

Frankfurt And Offenbach

This week, mere days after the historic press conference in Germany, policymakers in Frankfurt and Offenbach both indicated publicly that their jurisdictions will pursue legal localized cannabis sales as a means to combat the unregulated market.

“If the consumer is no longer stigmatized and criminalized, the discussions about risks can be conducted in a completely different way,” stated Artur Schroers, Head of the Drugs Department of the City of Frankfurt, according to Frankfurter Allgemeine.

Both Frankfurt and Offenbach reportedly issued declarations of intent to pursue the pilot programs, however, both jurisdictions will need to wait until a legalization measure is formally introduced and adopted, and comprehensive information becomes available regarding how jurisdictions can apply and what requirements will be involved.

European Union Lobbying Will Continue

Multiple lawmakers in Germany are calling for the immediate introduction and implementation of the adult-use legalization plan presented at the press conference earlier this month, and for there to be no further delays in doing so.

Germany’s Health Minister Karl Lauterbach continues to serve as a political pinball of sorts, bouncing between working with domestic lawmakers at home and lobbying the European Union in an effort to get the EU’s permission for Germany to pursue wider reforms. The lobbying effort essentially serves as a third phase for German legalization, albeit on a separate path and timeline compared to the first two phases.

Legalization Efforts In Guernsey ‘Not Likely To Get UK Royal Assent’

Guernsey may not be the first place that comes to mind when someone thinks about cannabis policy, however, the self-governing British Crown dependency is home to some ardent cannabis supporters. Guernsey is one of the Channel Islands in the English Channel near the French Coast.

Lawmakers in Guernsey agreed in 2022 to explore the idea of adult-use cannabis reform. Unfortunately, all laws passed by Guernsey’s government must also be approved by the United Kingdom’s Privy Council – a concept known as ‘royal assent.’ It appears that such approval is unlikely, at least at this time. Per excerpts from BBC:

Policy & Resources Committee member Deputy Bob Murray said several departments were examining the issue.

But he added any law was not likely to get UK royal assent “at the moment”.

He said: “One of the hurdles we’ve encountered as we have looked more deeply in cannabis legalisation is getting royal assent in the UK [passed by the King’s Privy Council, which, at the moment, appears very unlikely.”

There is recent precedent regarding cannabis policy, royal assent, and its use to prevent adult-use cannabis legalization pursuits. Bermuda, which is also a British Crown dependency and subject to the royal assent provision, was on a path to making significant cannabis policy reforms last year.

However, all of the progress hit a dead end when the Governor of Bermuda, who is appointed by the United Kingdom, effectively vetoed a cannabis reform measure previously passed by Bermuda lawmakers by refraining from granting royal assent. As with Bermuda, Guernsey should be able to set its own cannabis policies.

New Report Highlights Global Cannabis Industry Investing Trends In 2022

A new data analysis report was recently published involving cannabis industry investing, merger, and acquisition trends from last year. The data analysis study was performed by New Frontier Data and sponsored by Viridian Capital Partners.

Last year was a banner year for the emerging international cannabis industry as a whole, although financial trends varied from market to market. Below are some of the key findings from the recently published data analysis report:

  • In 2021 virtually every sector of the industry received blockbuster investments, leading to over $12 billion in capital raises; a combination of economic headwinds and dampened expectations for federal action shrank North American capital raises to $4 billion in 2022.
  • The United States continued to attract the majority of investor capital in 2022, growing as a percentage of total capital raised, from 71.7% in 2021 to 80.6% in 2022.
  • The United States drove the majority of M&A activity in 2022, growing from 59% of M&A activity in 2021 to 68% in 2022.
  • Cultivation and retail remained the leading sectors for M&A activity at 57% in 2022; however, the cultivation/retail sector represented 70% of the activity in 2021.
  • The average size of equity raises decreased 44% from $22.17 million in 2021 to $12.40 million in 2022, whereas the average size of debt raises decreased from $45.72 million in 2021 to $21.48 million in 2022.

“Investors are in the process of recalibrating their strategies for the cannabis market. By bringing together two of the most-trusted cannabis industry data companies, we provided an unbiased view of the current opportunities and challenges,” said Gary Allen, New Frontier Data CEO, in a press release. “Simultaneously, the report offers a sobering view of the capital markets for cannabis business owners who must adjust their own expectations for outside investment to construct healthier businesses.”

“Capital investment and M&A activity in the cannabis industry has become more narrowly focused on those states, countries and operators that have proven management teams, business models, and corporate strategy. This report, buoyed by data from the Viridian Cannabis Deal Tracker, provides the insight and actionable data for investors, lenders and acquirers to make smart capital allocation decisions.” added Scott Greiper, President and Founder of Viridian Capital.

The emerging legal cannabis industry will continue to expand across the globe, with new reforms being pursued and/or implemented in 2023, and in some cases, new markets launching.

Additionally, many existing markets will continue to expand in size throughout the year, and it will be interesting to see how statistics from 2023 compare to 2022 once this calendar year is over and the relevant data is compiled and analyzed.