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Cannabis Summary for Dec. 12, 2019

2019-12-12 21:17 ET - Market Summary

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by Stockwatch Business Reporter

The Canadian Securities Exchange Composite Index gained 3.54 points to 382.28 Thursday. The Major League Baseball (MLB) announced today that it will remove marijuana from its list of banned substances for the 2020 season (which starts in April). The MLB is the first of the four major North American sports leagues (the other three being the NFL, NHL and NBA) to remove marijuana as a banned substance. There is increasing pressure in the other leagues to take CBD off the list of banned substances, as it is commonly used by former athletes for pain relief and inflammation.

The MLB's softening stance on drugs went beyond marijuana, as players who test positive for any of opioids, fentanyl, cocaine or synthetic THC will be referred for treatment before being disciplined. The change in policy comes after the July 1, 2019, death of 27-year-old Los Angeles Angels pitcher Tyler Skaggs, whose autopsy showed oxycodone, fentanyl and alcohol in his system.

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