Cannabis
NBA Ends Cannabis Ban for Its Players
The NBA suspended cannabis testing for the first time during the toughest months of the covid pandemic. It was a temporary measure, but in December 2020, the league confirmed that it would maintain that policy for the duration of the 2020-2021 season. Since then, players have been able to consume cannabis and its derivatives at will without fear of receiving a sports sanction for their use.
The league has just signed the new collective bargaining agreement that allows players to use cannabis and cannabis derivatives.
The National Basketball Association (NBA) and the players’ union have signed a new collective bargaining agreement that removes cannabis from the list of banned substances for league players. The new agreement, which will be in effect for seven years, also allows athletes to invest in cannabis companies with some limitations.
The NBA and the National Basketball Players Association culminated the negotiation process a few days ago with the signing of the agreement, the terms of which had been agreed upon almost three months ago. According to Marijuana Moment, the new agreement is 676 pages long and, among many other things, contains a number of provisions relating to cannabis, the most important of which is that the consumption of the substance by players will no longer be sanctioned.
If you want to find more details about NBA and its new policy towards cannabis use among players, download for free the Hemp.im mobile app. This cannabis-focused mobile app brings you the most important cannabis news of the day, so you can stay on top of what matters to you.
The NBA suspended cannabis testing for the first time during the toughest months of the covid pandemic
It was a temporary measure, but in December 2020, the league confirmed that it would maintain that policy for the duration of the 2020-2021 season, something that was also repeated for the next two seasons. Since then, players have been able to consume cannabis and its derivatives at will without fear of receiving a sports sanction for their use, but so far the measure had not been made permanent.
In addition to this, the agreement also contemplates that players may have “a direct or indirect interest (whether controlling or non-controlling) in an entity that produces or sells CBD products,” a consideration that allows cannabis products of up to 0.3% THC, the limit set by U.S. law for industrial hemp. In other words, players will be able to get into the cannabis industry, but only in companies with non-psychoactive cannabis product brands.
__
(Featured image by raulfc via Pixabay)
DISCLAIMER: This article was written by a third-party contributor and does not reflect the opinion of Born2Invest, its management, staff or its associates. Please review our disclaimer for more information.
This article may include forward-looking statements. These forward-looking statements generally are identified by the words “believe,” “project,” “estimate,” “become,” “plan,” “will,” and similar expressions. These forward-looking statements involve known and unknown risks as well as uncertainties, including those discussed in the following cautionary statements and elsewhere in this article and on this site. Although the Company may believe that its expectations are based on reasonable assumptions, the actual results that the Company may achieve may differ materially from any forward-looking statements, which reflect the opinions of the management of the Company only as of the date hereof. Additionally, please make sure to read these important disclosures.
First published in CANAMO, a third-party contributor translated and adapted the article from the original. In case of discrepancy, the original will prevail.
Although we made reasonable efforts to provide accurate translations, some parts may be incorrect. Born2Invest assumes no responsibility for errors, omissions or ambiguities in the translations provided on this website. Any person or entity relying on translated content does so at their own risk. Born2Invest is not responsible for losses caused by such reliance on the accuracy or reliability of translated information. If you wish to report an error or inaccuracy in the translation, we encourage you to contact us.
-
Biotech2 weeks ago
Bayer Bets on Barcelona with a New R&D Area in Health
-
Crypto2 days ago
Tether Invests $775 Million in Trump-Supported Platform Rumble
-
Impact Investing1 week ago
SBTi Approves DKV Mobility’s Decarbonization Targets
-
Fintech2 weeks ago
Pennylane and Defacto Strengthen Alliance to Facilitate Instant Payments for SMEs