Here are some recent updates in the cannabis industry:

1. California Approves Cannabis Consumption Lounges
   Governor Gavin Newsom signed a bill into law permitting on-site consumption lounges in California. This move is expected to bolster the state’s cannabis tourism and retail sectors.
2. Kentucky’s Medical Cannabis Developments
   Kentucky has started approving medical cannabis applications and issued its first business licenses. The state is positioning itself for a robust medical cannabis program following earlier legislative approval.
3. Federal Rescheduling of Cannabis Delayed
   The DEA postponed hearings on rescheduling cannabis under federal law until early 2025, extending uncertainty for the industry. Rescheduling could significantly alter the regulatory landscape for cannabis businesses across the U.S..
4. International Updates
   In Europe, Zurich is seeking participants for its adult-use cannabis trial. Meanwhile, Japan has taken steps to legalize medical cannabis while moving to criminalize recreational use.
5. Industry Research Grants
   The National Hemp Association received a $19.6 million USDA grant to study hemp’s agricultural impact, reflecting growing federal interest in cannabis-related research.
6. Banking and Investment Hurdles Persist
   Despite ongoing advocacy, U.S. cannabis businesses still face challenges with banking and investment due to federal restrictions. Industry stakeholders continue to push for comprehensive reforms.