NBA: Cannabis removed from prohibited substances list

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The National Basketball Association (NBA) has made some significant changes to its cannabis use policy for players following suit by recent changes made in both the Major League Baseball (MLB) and the National Hockey League (NHL).

The NBA players association & its players union recently signed a seven-year collective bargaining agreement (CBA) that would see cannabis dropped from the prohibited substances list & would allow players to invest in cannabis companies.

Here are the key points regarding updates to the NBA’s cannabis policy:

  • The NBA will no longer test players for cannabis under the drug testing program and will not penalize players for use.
  • NBA players are now permitted to invest in companies that make CBD-infused products and hold a passive, non-controlling interest in companies that make products with more substantial concentrations of THC.

The CBA will go into effect on July 1, 2023 and will run through until the 2029-30 Season. This agreement will potentially have significant cultural & economic impacts on both players and the league.

As legalization of both medical and recreational-use of cannabis across many states in the US gains momentum, the stigma that once plagued the industry continues to diminish. The NBA acknowledges the need to address the topic of cannabis in a way that prioritizes players’ well-being and treatment.

Changes made under this signed agreement allowing NBA players to invest in cannabis companies is likely to have a significant impact on both the cannabis industry & the NBA. This new agreement would allow players to expand and diversify their investment portfolio & potentially cash-in on the cannabis industry. This could in turn, see increased partnerships and promotional opportunities for both players and the league.

To read a copy of the CBA, please click on the link below:
Collective Bargaining Agreement (July 2023)

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