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Featured Articles
Colorado Marijuana Activists Cleared To Collect Signatures To Legalize Sales In State’s Second Largest City
Colorado Springs residents could have the chance to vote on the sale of recreational marijuana in the city in this year’s election. Your Choice Colorado Springs, the group working to get the sale of recreational marijuana on the ballot, filed a petition...
Maryland Senators Raise Questions About House-Passed Marijuana Legalization Bills In Committee Hearing
A Maryland Senate committee on Wednesday took up a pair of House-passed bills to put marijuana legalization on the state’s November ballot and set initial rules if voters approve the reform, with some lawmakers raising concerns about the limited scope of the...
Social Equity Policies Could Shape Diversity In The Legal Cannabis Industry
In the United States, less than 20 percent of legal cannabis business owners and founders are minorities. This reality, combined with the negative consequences of cannabis prohibition on minority communities, has led many advocates to call on elected officials to...
Aurora Cannabis To Acquire TerraFarma (Thrive Cannabis) In $38 Million Deal
Canadian cannabis company Aurora Cannabis expands its recreational portfolio by announcing the acquisition of TerraFarma Inc., a parent company of Thrive Cannabis, an Ontario-based vertically integrated cannabis company. Toronto-based TerraFarma Inc. acquired 100% of...
Canada Introduces Proposal to Increase Marijuana Beverage Purchase Limits
As the cannabis industry matures, the cannabis-infused beverage segment is expected to offer fierce competition to other types of cannabis products. Market experts project that the segment will grow at a compound annual growth rate of 16% to achieve a valuation of $2...
French Government Announces Decree Allowing Growing of Medical Marijuana
Last month, the French government issued a decree that allowed the growing of medical marijuana and the development of the industry. The enactment took effect on March 1, 2022; however, it awaits implementation by regulators. The act features conditions and procedures...
Featured Articles
Polls Funded By Marijuana Prohibitionist Group Show Big Support For Legalization Policies It Lobbies Against
A set of new national and state surveys funded by the prohibitionist group Smart Approaches to Marijuana (SAM) found that a large majority of Americans think cannabis should be legal for either medical or recreational purposes. That’s not how SAM is presenting the findings of the Emerson College polls, though. The group is attempting to argue that when people are presented with several marijuana reform options that only minority support full adult-use legalization. The survey found that, of the four separate options included, support for recreational legalization was highest, with 38 percent of U.S. voters backing it. That was followed by support for medical cannabis legalization (30 percent), decriminalization (19 percent), and prohibition (14 percent). In other words, about 68 percent of Americans favor some form of legal, regulated marijuana—the types of systems that SAM regularly works to oppose when proposals go before lawmakers during legislative sessions or voters at the ballot box. But the group is really leaning into the fact that recreational cannabis on its own only got a plurality of support. In one chart, they contrasted adult-use responses with all three other options to make it look like people prefer “Other Non-Legalization Marijuana Policies.”
Kyle Jaeger, Marijuana Moment, 01/12/2022 12:02:00
Oklahoma State Bank Selects Shield Compliance As Cannabis Banking Partner
Shield Compliance, a compliance management platform for cannabis banking, announced a partnership with Oklahoma State Bank (OSB) to improve the functionality and scalability of its cannabis banking program. Under the agreement, OSB will implement Shield’s solutions to automate compliance tasks such as daily monitoring, seed-to-sale tracking and reporting, accelerate and improve the customer onboarding experience and will offer digital payments capabilities. “OSB understands the compliance and operational requirements associated with serving the legal cannabis industry. It also has a deep appreciation for the uniqueness of the Oklahoma medical marijuana market, which is expected to exceed $1 billion in sales for 2021,” stated Shield in a recent press release. “With no cap on licenses and no qualifying conditions for patients, nearly ten percent of Oklahoma residents hold medical marijuana cards. In other states with legal medical marijuana programs, patients are typically just one or two percent of the population.” David Hardy, president and CEO of OSB said they selected Shield Compliance to better meet the growing demand for cannabis banking services and to improve their ability to serve the volume and diversity of Oklahoma’s license holders, “from independent operators to those with more complex ownership structures.
Mmp News Author, Medical Marijuana Program Connection, 01/12/2022 20:03:11
Growers Under Increasing Threat from Cannabis Taxes
For most operators in California’s cannabis industry, the licensed and regulated market probably feels like a slow-burning dumpster fire with no end in sight. But for politicians and state regulators who designed the legalized industry under Proposition 64, the massive new influx of cannabis taxes probably feels like a job well done. Since the adult-use industry was born in 2016, cannabis companies of all shapes and sizes have struggled to survive—much less turn a profit—while the state has raked in billions of dollars. In 2020, California collected $1.1 billion from cannabis companies, and the state was expected to collect $1.3 billion in 2021. Advertisement Under the current tax structure, all products sold in California are subject to a 15-percent excise tax, and cultivators also pay a tax based on the weight of their harvest. Beyond that, there’s a state retail tax of 7.25 percent, and local taxes vary from 5 to 15 percent; Los Angeles, Oakland, and San Jose all collect 10 percent of gross receipts from cannabis businesses. Add it all up, and cannabis companies are paying an effective tax rate of up to 45 percent.
mg Magazine – Cannabis News & Information, 01/11/2022 01:45:00
New Governor, Reenactment Clause Could Mean Changes to Virginia’s Adult-Use Cannabis Law
Virginia made history last year when it became the first state in the South to fully legalize cannabis, but a new governor and a reenactment clause in the law could bring changes to the original statute that the General Assembly approved in April. “Virginia’s legalization law … was somewhat unique,” Karen O’Keefe, director of state policies for Marijuana Policy Project (MPP), told Cannabis Business Times. “Virginia can pass laws that require reauthorization, meaning they don’t take effect unless the Legislature votes for them again.” Outgoing Gov. Ralph Northam signed the state’s adult-use legislation into law last spring after the General Assembly approved amendments to expedite the cannabis possession and home grow provisions, which took effect July 1. Under the current law, adults 21 and older can legally possess up to 1 ounce of cannabis in public and can cultivate up to four plants at their primary residence for personal use. Commercial sales are slated to start Jan. 1, 2024, under the statute, but until then, selling or purchasing cannabis outside Virginia’s medical program remains illegal.
Cannabis Business Times, 01/11/2022 14:17:00
Should Louisiana break up medical marijuana monopolies to lower prices?
When Louisiana’s first legal smokable medical marijuana was made available on Jan. 1, patients like Corbet King of Wisner were excited about the product that they believed would be a more affordable option than tinctures, oils and edibles. After all, affordability was one of the key selling points when the Legislature passed a bill last year to add the plant’s unprocessed flower to the products that Louisiana’s two legal growers and nine regional pharmacies could offer to patients. But when King and other patients arrived at their pharmacies they were surprised to find the flower product in some cases was just as costly or even more expensive, depending on the pharmacy. “They lied to us,” said King, who showed USA Today Network a price chart in which Delta MedMar pharmacy in Monroe was charging between $440 and $480 per ounce. “Most people can’t afford this.” King, who must drive an hour from Wisner to obtain his medicine, said those prices are more than double the illegal street price of weed. It’s also more than double the cost of lowest prices of medical weed in other states, according to budzu, an online site that tracks pot prices.
420 Intel – Marijuana Industry News, 01/12/2022 19:00:00
‘Battle royale’: Cannabis regulation bills pit regulatory agency against some marijuana businesses
An effort by state regulators to rein in sale of intoxicating cannabis that can be produced with materials outside their authority has some major business interests crying foul. The Washington Liquor and Cannabis Board has requested a change in the law that would explicitly permit it to prohibit the sale of intoxicating materials derived from hemp. The request comes on the heels of rulemaking started in earnest by the board last year after it was discovered that some of the state’s retailers were selling products including “delta-8 tetrahydrocannabinol (THC),” an intoxicant chemically similar to delta-9 THC found in adult marijuana plants, that had been produced from hemp, which was made federally legal following passage of the 2018 farm bill. Some existing producers in the state argue the ban is necessary to avoid an existential crisis for their businesses, as hemp producers can provide raw material to turn into intoxicants for pennies on the dollar compared to legal marijuana producers that must adhere to a costly set of regulations from the state. But at least one major cannabis industry trade organization has offered its own law in rebuttal to the Liquor and Cannabis Board’s plan, saying the state will stifle future growth in an industry that produces tens of millions of dollars in excise tax revenue each month.
420 Intel – Marijuana Industry News, 01/11/2022 19:00:00
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Canopy Growth Fined by CRA
Ontario-based cannabis company Canopy Growth is dealing with a $500K fine from the Canada Revenue Agency. The CRA claims the company began its outdoor plant production in 2020 without having the proper licence to do so. Canopy is appealing the $434,611 fine in federal...
NEO Exchange Welcomes High-Growth Cannabis Issuer With Public Listing of Schwazze
NEO is proud to welcome Medicine Man Technologies, Inc., operating as Schwazze (“Schwazze”), the parent company of a portfolio of leading cannabis businesses and brands spanning seed to sale, as they list today on the NEO Exchange. Schwarze is now available for...
Pennsylvania among states with strictest marijuana laws, report finds
Marijuana laws in Pennsylvania are among the most severe in the country despite a majority of voters supporting legalization and regulated sales, according to a report from the Marijuana Policy Project. The organization, which is working towards changing federal...
MITA Addresses Arizona’s Multi-Million Dollar Social Equity Cannabis License Lottery Now Scheduled for April 8th
Demitri Downing the founder and CEO of MITA, is a former prosecutor and cannabis policy expert, available to address the impact of these new dispensary licenses, and what’s at stake for the larger business community once distributed. The Arizona Department of Health...
New Hampshire Lawmakers Approve State-Run Marijuana Legalization Bill With Amendments, Sending It Back To House Floor
A New Hampshire House committee approved an amended version of a bill to create a state-run marijuana market for adult consumers, sending it to the full House for a second-floor vote. The House Ways & Means Committee met for the third time in the span of a week on...
Texas Supreme Court Hears Case Challenging State’s Smokable Hemp Manufacturing Ban
The Texas Supreme Court on Tuesday heard oral arguments concerning the state’s ban on manufacturing smokable hemp products—the latest development in a drawn-out legal battle on the policy first proposed and challenged in 2020. A lower court determined in August that a...
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