Cannabis has been removed from a list of banned substances in the National Basketball Association’s new collective bargaining agreement that takes effect on July 1 and lasts through 2030. The 560-page document has been ratified by the league and the National Basketball Players Association. Players will be allowed to promote CBD products but not marijuana companies. Players may also hold non-controlling interests in companies that make products that contain marijuana. They will no longer be tested for marijuana. The NBA already had a temporary suspension on cannabis testing in place for the past three seasons. Late Wednesday, the two sides announced a final agreement on rules covering how the league and the players conduct their business together.
Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.
0
0
