NBA to allow players to promote, invest in and consume cannabis
April 3, 2023 - MJ Biz daily
A groundbreaking bargaining agreement between the National Basketball Association and its players association would allow players to invest in and promote cannabis companies.
The tentative deal – which must be ratified by the union and team governors – would also allow players to consume marijuana given that the substance would be removed from the league’s drug testing program, according to The Athletic sports media site.
The National Basketball Players Association confirmed that a tentative collective bargaining agreement had been reached.
“Specific details will be made available once a term sheet is finalized,” the group said in a statement.
The proposed labor agreement would offer players another investment opportunity, NBA and WNBA teams, The Athletic reported.
The tentative agreement would provide a major endorsement for the cannabis industry and would open up a new source of funds for marijuana companies, which have been struggling in the face of a tight funding market.
The proposed seven-year agreement would also mark a first for the NBA, which has previously penalized players for consuming marijuana and barred them from participating in cannabis sponsorships or business opportunities
In a recent appearance on NPR, Harrington talked about what basketball and marijuana have in common.
“Sports definitely heals,” he said.
“Every time it seems like our country goes through something, sports is the kind of thing that brings it back together.
“And I feel the same thing about the cannabis plant. I really feel like the cannabis plant is a natural healer, and it fosters community.”
Is tide turning in pro sports?
As an increasing number of states have legalized medical and adult-use marijuana, professional sports leagues have been gradually easing their once-zero tolerance attitudes toward the substance.
Can I travel with weed?
March 31, 2023 - NORML:
Democratic Gov. Andy Beshear signed legislation (Senate Bill 47) into law today legalizing the production, distribution, and use of medical cannabis by authorized patients. Kentucky is the 38th state to enact comprehensive medical cannabis access legislation.
Kentucky NORML’s Lauren and Matthew Bratcher meet with
Gov. Andy Beshear at the start of the 2023 legislative session. Senate Bill 47 directs the state’s Cabinet for Health and Family Services to implement a medical cannabis access program. Under the plan, patients with chronic pain, epilepsy, post-traumatic stress, spasticity, and other designated conditions will be able to obtain an uninterrupted 30-day supply of medical cannabis. Qualified patients who test positive for the presence of carboxy-THC on a urine drug test “shall not be considered to be under the influence.” The bill further adds, “A registered qualified patient or visiting qualified patient who uses medicinal cannabis shall be afforded all the same rights under state and local law … as the individual would have been afforded if he or she were solely prescribed pharmaceutical medications as they pertain to drug testing required by any state or local law.” Patients cannot face discrimination with respect to medical procedures (e.g., organ transplants), child visitation, or school enrollment solely due to their medical cannabis patient status.
Home cultivation of cannabis is not permitted under the legislation. Regulations governing the program would need to be finalized by January 1, 2024. The program is expected to be operational on January 1, 2025.
June 25, 2018 - NORML
Regulators at the US Food and Drug Administration today granted market approval for Epidiolex, a prescription medicine containing a standardized formulation of plant-derived cannabidiol (CBD), for the explicit treatment of two rare forms of severe epilepsy: Lennox-Gastaut syndrome and Dravet syndrome.
The FDA’s decision was not unexpected, as the proprietary extract formulation — developed by the British biotechnology firm GW Pharmaceuticals — had previously demonstrated safety and clinical efficacy at reducing seizure frequency in several placebo-controlled trials. Epidiolex had previously received Fast Track Designation and Orphan Drug Status from the FDA. It is the fourth marijuana-based medicine to receive US FDA approval — joining dronabinol (aka Marinol), nabilone (aka Cesamet), and liquid synthetic THC (aka Syndros). However, Epidiolex is the first FDA-approved medicine containing plant-derived, non-synthetic cannabinoids. Commenting on the agency’s decision, NORML Deputy Director Paul Armentano said: “The FDA’s approval of this plant-derived medicine provides an additional option to patients seeking the therapeutic benefits of cannabis. However, it remains to be seen whether physicians will be comfortable prescribing this new agent to those patients who may benefit from it, and whether it will be priced in a range that patients may afford.” According to the New York Times, analysts expect Epidiolex to cost $2,500 to $5,000 a month. READ MORE