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Featured Articles

New U.S. Focused Cannabis ETF Hits The Market Today

New U.S. Focused Cannabis ETF Hits The Market Today

ETF Managers Group has launched its latest cannabis ETF (exchange-traded fund) that will once again focus on the cannabis U.S. stocks. The ETFMG U.S. Alternative Harvest ETF will begin trading today on the New York Stock Exchange. The company said that the MJUS offers...

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Featured Articles

GOP Senator Who Trashed Marijuana Banking Amendment Years Ago Is Now Cosponsoring Reform Bill

GOP Senator Who Trashed Marijuana Banking Amendment Years Ago Is Now Cosponsoring Reform Bill

In the latest sign of shifting attitudes on marijuana policy in Congress, a Senate bill to protect banks that service state-legal marijuana businesses gained a notable new cosponsor on Wednesday. Susan Collins, the Republican senator from Maine who is well known as a centrist, signed onto the Secure and Fair Enforcement (SAFE) Banking Act. The move is particularly notable given that just a few years ago she spoke out forcefully against a similar proposal because she didn’t want banks to “essentially finance dealers of recreational marijuana.” To that end, the latest cosponsorship may be a bellwether for the legislation, signaling that like its House companion, it stands to earn bipartisan support if advanced to the Senate floor. Back in 2015, Sen. Jeff Merkley (D-OR) introduced an amendment to a funding bill that would bar federal regulators from using their resources to penalize banks just because they provide financial services to cannabis businesses operating in compliance with state law.

Kyle Jaeger, Marijuana Moment, 05/13/2021 12:33:00

Open article: https://www.marijuanamoment.net/gop-senator-who-trashed-marijuana-banking-amendment-years-ago-is-now-cosponsoring-reform-bill/

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Drug Possession Is Officially A Crime Again In Washington, But As A Misdemeanor Instead Of Felony

Drug Possession Is Officially A Crime Again In Washington, But As A Misdemeanor Instead Of Felony

Nearly four months after the state Supreme Court struck down Washington’s felony drug possession law as unconstitutional, Gov. Jay Inslee (D) signed legislation on Thursday to recriminalize simple possession, this time as a misdemeanor. The governor did partially veto one section, however. The new law, which takes effect immediately, reestablishes criminal penalties but requires that individuals be referred to a health evaluation and possible treatment for their first two violations, allowing them to avoid arrest and a criminal record. It also earmarks nearly $100 million for drug use disorder treatment, outreach, and recovery services across the state. At a signing ceremony Thursday, Inslee called the legislation “a much more appropriate and successful way to address the needs that underlie drug abuse.”

Ben Adlin, Marijuana Moment, 05/14/2021 08:28:00

Open article: https://www.marijuanamoment.net/drug-possession-is-officially-a-crime-again-in-washington-but-as-a-misdemeanor-instead-of-felony/

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Colorado Sold More Than Half A Billion Dollars In Legal Marijuana In 2021’s First Three Months

Colorado Sold More Than Half A Billion Dollars In Legal Marijuana In 2021’s First Three Months

Colorado’s marijuana sales eclipsed the half-billion-dollar mark in the first quarter of 2021, the state Department of Revenue (DOR) said on Tuesday. In all, marijuana sales were over $560 million between January and March. More than $10.5 billion in marijuana has been sold in Colorado since it was legalized in 2014. Those sales translate into over $1.7 billion in tax revenue that goes towards public schools, infrastructure projects, and local government programs. DOR compiles its monthly marijuana sales report by adding the state’s medical and recreational sales together. The total does not include marijuana accessories or any products that do not contain medical marijuana. Marijuana sales reached $207 million in the month of March alone. In exchange, the state collected $39.6 million in taxes.

Marijuana Moment, Marijuana Moment, 05/13/2021 10:23:00

Open article: https://www.marijuanamoment.net/colorado-sold-more-than-half-a-billion-dollars-in-legal-marijuana-in-2021s-first-three-months/

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Minnesota House casts historic vote to legalize marijuana

Minnesota House casts historic vote to legalize marijuana

The Minnesota House voted on Thursday to legalize marijuana for adults, the furthest the proposal has ever traveled in the Legislature and a watershed moment on an issue that has long languished in St. Paul. After more than five hours of debate, the House voted 72-61 in favor of legalization, with support from nearly all Democrats and six Republicans. DFL Gov. Tim Walz supports the measure, but it still faces long odds to become law this year, with just days left in the regular 2021 session and opposition from Republicans in control of the state Senate. But supporters lauded the package as one that would bring in millions of dollars in new tax revenue to regulate the industry while beginning to address the toll marijuana policing has taken on communities of color. “This bill is a long time coming,” said DFL Majority Leader Ryan Wink­ler of Golden Valley, who shepherded the legislation through the House. “Minnesotans have decided it’s time to legalize cannabis and right the wrongs of the criminal prohibition of marijuana that has failed Minnesotans and has failed Minnesota.”

Cannabis Business Executive – Cannabis and Marijuana industry news, 05/14/2021 07:35:55

Open article: https://www.cannabisbusinessexecutive.com/2021/05/minnesota-house-casts-historic-vote-to-legalize-marijuana/

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Arkansas Sees Substantial Increases in its Medical Cannabis Market

Arkansas Sees Substantial Increases in its Medical Cannabis Market

Arkansas has had a very slow rollout when it comes to implementing its medical cannabis market. In November of 2016, the majority of Arkansas voters voted yes on the Arkansas Medical Marijuana Amendment. Upon its passing, it legalized a medical cannabis market in the state with specific restrictions. The law required the Alcoholic Beverage Control Division to issue regulations for the cultivation and for dispensing medical cannabis in the state within 120 days after the passing of the amendment. Based on the law’s original language, they were also supposed to begin accepting applications for cultivation and dispensing in June of 2017, with patient cards being issued within the same time frame. Unfortunately, in January of 2017, Arkansas legislatures passed a bill that delayed patient applications by two months and business licenses by 30 days.

Posted By, Cannabis Central, 05/13/2021 15:30:00

Open article: https://www.veriheal.com/blog/arkansas-sees-substantial-increases-in-its-medical-cannabis-market/?utm_source=rss&utm_medium=rss&utm_campaign=arkansas-sees-substantial-increases-in-its-medical-cannabis-market

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New U.S. Focused Cannabis ETF Hits The Market Today

New U.S. Focused Cannabis ETF Hits The Market Today

ETF Managers Group has launched its latest cannabis ETF (exchange-traded fund) that will once again focus on the cannabis U.S. stocks. The ETFMG U.S. Alternative Harvest ETF (NYSE Arca: MJUS) will begin trading today on the New York Stock Exchange. The company said that the MJUS offers investors exposure to cannabis companies operating in the United States, including multi-state operators (MSOs) directly involved in the cultivation, production, marketing, and distribution of cannabis or cannabis-related products. U.S. cannabis single and multi-state operators are currently only available to investors through second-tier, foreign exchanges, which are not widely accessible through U.S. brokerages. This is why U.S.-focused ETFs have proven to be so popular. The ETFMG Alternative Harvest ETF (NYSE Arca: MJ), which debuted in December 2017, has nearly $1.7 Billion assets under management. MJUS seeks to achieve its investment objective by investing in cannabis companies within the Prime U.S. Alternative Harvest Index that derive at least 50% of their net revenue in the United States and in derivatives that have economic characteristics similar to such securities.

Jeffrey Mundell, Green Market Report, 05/13/2021 09:12:00

Open article: https://www.greenmarketreport.com/new-u-s-focused-cannabis-etf-hits-the-market-today/?utm_source=rss&utm_medium=rss&utm_campaign=new-u-s-focused-cannabis-etf-hits-the-market-today

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