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A new federally funded study published by the American Medical Association (AMA) is adding significant weight to a fast-emerging medical consensus: cannabis can effectively substitute for opioids in managing chronic pain.

The research—released Monday in JAMA Internal Medicine—tracked 204 chronic pain patients in New York’s medical cannabis program from 2018–2023. All participants were already prescribed opioids and were newly certified for medical marijuana. Over 18 months, scientists from Montefiore Medical Center, the University of Arizona, and CUNY monitored their cannabis use, opioid intake, and health outcomes.

The results were clear: enrollment in New York’s program was “associated with significantly reduced prescription opioid receipt.” Patients using medical cannabis consumed 3.53 fewer morphine milligram equivalents (MME) per day compared to non-cannabis chronic pain patients.

Lead author Dr. Deepika Slawek said the findings show that pharmacist-supervised medical cannabis can relieve pain while meaningfully reducing reliance on opioids—an important tool amid America’s ongoing overdose crisis.

The study, supported by the National Institute on Drug Abuse (NIDA), adds to a growing body of evidence showing cannabis’s potential to replace or reduce opioid prescriptions, decrease opioid misuse, and even correlate with lower overdose deaths wherever marijuana is legalized.

Additional AMA and international studies have found similar outcomes in cancer patients, Australian chronic pain cohorts, and statewide analyses in Utah and other jurisdictions—strengthening the case that cannabis has a substantial role to play in modern pain management.

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$TCNNF ( ▲ 4.55% ) Stacks New Notes

Trulieve Cannabis Corp. (CSE: TRUL, OTCQX: TCNNF) is bolstering its balance sheet, announcing it has secured commitments for a US$100 million private placement of 10.5% Senior Secured Notes due 2030. The Notes will be issued at 100% of face value and carry a 10.5% annual interest rate, paid semi-annually, with maturity slated for December 17, 2030. Trulieve may redeem the Notes after two years, subject to redemption terms outlined in a forthcoming supplemental indenture.

The raise is being conducted on a best-efforts basis with Canaccord Genuity Corp. serving as sole agent and sole bookrunner. Closing is expected on December 17, 2025, pending typical conditions, including CSE approval. Trulieve plans to list the Notes on the Canadian Securities Exchange following the required four-month statutory hold period.

The company says proceeds will support capital expenditures and general corporate purposes, “general corporate purposes” being the polite regulatory phrasing for whatever helps execute the strategy.

Because the Notes are being offered via private placement, they will not be registered under the U.S. Securities Act of 1933. Instead, they will be sold to qualified institutional buyers, accredited investors, or eligible non-U.S. persons under Reg D, Rule 144A, and Regulation S exemptions.

For Trulieve—fresh off multiple expansion announcements and positioned for upside if federal policy shifts—this financing provides fresh fuel for long-term growth.

$MRMD ( ▲ 1.04% ) Hits A High Note

MariMed Inc. (CSE: MRMD, OTCQX: MRMD) is launching a heartfelt new initiative inspired by Ryan Taylor, a U.S. Army veteran and loyal customer of the company’s Thrive™ Dispensary in Anna, Illinois. After enduring a grueling 16-month deployment with the 82nd Airborne Division, losing part of a lung, and returning home with life-altering trauma, Taylor found meaningful relief through medical cannabis—and a sense of peace inside Thrive’s welcoming environment.

Moved by his experience, Taylor—also a singer-songwriter—wrote an original song, “Thrive: Anna,” capturing the positivity and community he feels every time he visits the dispensary. Beginning this month, MariMed will play the song in all 13 Thrive locations across Massachusetts, Ohio, Delaware, Maryland, and Illinois.

Each airing will be preceded by a message recorded by a veteran Thrive team member, explaining the song’s origins and spotlighting FreedomSingsUSA, a nonprofit that pairs professional songwriters with veterans to help them share their stories. MariMed will also make a donation to the organization in Taylor’s honor.

Veteran and Purple Heart recipient Donnie Spurlock, store manager at Thrive Anna, said Taylor’s journey reflects how cannabis can “transform lives,” adding that the company is proud to elevate his voice and expand support programs for veterans.

MariMed calls the initiative both a tribute and a reminder of cannabis’s role in healing—and community.

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Can the Feds Even Enforce the Hemp Ban? | TTB Powered by Dutchie

What we will cover:

✅ Is the cannabis industry finally getting clearer — or are we all just guessing what 2026 is going to look like?

Coming up today at 4 PM ET on Trade To Black, hosts Shadd Dales and Anthony Varrell get into what’s really going on behind the biggest stories in cannabis and hemp — federal moves, state updates, and everything people are actually talking about right now.

We’re kicking things off with the latest news across the cannabis and hemp space, starting with the federal hemp THC ban. Congressional researchers are now saying it’s not even clear how the feds plan to enforce it, especially with the FDA and DEA already stretched thin. And on the federal front, a newly surfaced DOJ memo admits the government knew the marijuana-user gun ban could be on shaky legal ground — right as the Supreme Court gets ready to take it up.

Then we zoom into the states: Kentucky says its first medical cannabis dispensary is just weeks away, with the governor openly pitching cannabis as an alternative to opioids. And Trulieve made a big financial move by redeeming all US$368M of its 8% secured notes due 2026 — one of the cleaner balance-sheet resets we’ve seen heading into an election year.