DEA close to allowing companies to grow cannabis for scientific research

After years of delay under the Trump administration, the federal government is preparing to award the first new licenses for cultivating cannabis for scientific research, giving U.S. marijuana operators a crack at entering a business that has been dominated by the University of Mississippi for more than 50 years.

The U.S. Drug Enforcement Administration late last week signaled it would award the licenses soon by issuing a “Memorandum of Agreement” (MOA) to “a number” of organizations that applied for the opportunity, according to an agency news release.

The move will allow greater research into marijuana and its potential medicinal properties. That, in turn, could spur more doctors to recommend medical cannabis, which likely would boost sales. Read more →