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Featured Articles
South Dakota Governor signs handful of medical cannabis bills
The six bills bring a host of changes to the new cannabis law in South Dakota, including one that places a limit on the number of plants a patient can grow. South Dakota Gov. Kristi Noem last week signed a number of bills dealing with the state’s fledgling medical...
New York’s Cayuga Nation To Sell Recreational Cannabis
The tribe may beat state recreational sales by up to a year New York’s Cayuga Nation Native American tribe is preparing to launch an adult-use cannabis cultivation enterprise, months before state-licensed recreational pot retailers begin serving customers. Under the...
Georgia Senate almost voted on cannabis product without realizing it
An unlikely Senate duo — a conservative South Georgia farmer running for higher office and a liberal Atlanta preacher — have teamed up to help cannabis farmers with a bill allowing more hemp products in a state where marijuana remains illegal. The Georgia bill got as...
Maryland Lawmakers Approve Millions In Funding To Implement Marijuana Legalization If Reform Is Enacted
A key Maryland House committee advanced a Senate-approved budget bill last week, adding new amendments that would allocate tens of millions of dollars in funding to implement marijuana legalization with the expectation that the reform will ultimately be enacted this...
New York cannabis regulations are in limbo. But the pot industry is booming on reservations.
The proliferation of the shops has beaten New York’s own plans to open dispensaries after the state Legislature legalized recreational marijuana last year. State officials said it is legal for the tribes across New York to sell marijuana before regulators have adopted...
Michigan Cannabis Flower Price Dips $171 Per Ounce in One Year
Although demand for adult-use cannabis soared throughout 2021 in Michigan, falling retail prices have left some business executives uncertain of their future in an increasingly competitive market. From flower, vapes, edibles, and a host of other products, Michigan...
Featured Articles
Medical marijuana users brace for shortages as Montana’s recreational market opens
More than a year after voters approved legalizing marijuana for recreational use in Montana, anyone older than 21 can now walk into a dispensary and buy cannabis. That has medical marijuana user Joylynn Mane Wright worried. Wright lives in Prairie County, the state’s fifth-least-populated county, with nearly 1,100 people. She already drives about 35 minutes to get to the marijuana dispensary nearest her home, which is 2½ hours northeast of Billings. And now she wonders how much more difficult it will be to get the cannabis she uses to relieve the chronic pain she developed after a 2017 spinal surgery. “I’m really worried about supplies and what it’s going to cost,” she said. For Wright and the approximately 55,000 other Montanans who hold medical marijuana cards and use cannabis for cancer, glaucoma, Crohn’s disease, central nervous system disorders, and other ailments, the question is how will recreational marijuana affect their ability to access their medicine. Other states have had shortages soon after their recreational marijuana markets opened. In January 2020, when recreational marijuana became legal in Illinois, some dispensaries had to close their doors or impose limits on purchases.
420 Intel – Marijuana Industry News, 01/09/2022 19:00:00
Michigan Collects $271 Million In Cannabis Tax Revenue Since 2019
As the cannabis industry expands, Michigan can expect greater tax revenue. Since 2019, the state has collected about $271 million in adult-use marijuana tax revenue, a website called The Center Square reports: In March 2021, the Michigan Treasury described what adult-use cannabis taxes collected in the fiscal year 2020 will fund: “Aside from the nearly $10 million in disbursements to municipalities and counties, around $11.6 million will be sent to the School Aid Fund for K-12 education and another $11.6 million to the Michigan Transportation Fund, upon appropriation. The remaining $12.5 million amount will be used toward start-up and administrative costs.” Michigan pot sales started booming in 2020, says the report from the government and economic news site supported by a Chicago foundation.
420 Intel – Marijuana Industry News, 01/09/2022 19:00:00
Federal law still treats marijuana as an illegal drug, creating headaches for states
Most states in the U.S. are in violation of a major federal drug statute. The 1971 Controlled Substances Act lists marijuana in the most dangerous category defined in the law, on par with cocaine and heroin because of its supposed potential for abuse and lack of medical applications. But 36 states plus the District of Columbia allow either full legalization for adult use or wide-scale medical use, putting them at odds with federal law. Congress so far has been unable to come up with a solution, despite support from leading Democrats for a smoother relationship between the states and the federal government. State acceptance happened quickly, with Colorado and Washington the first to legalize adult-use less than 10 years ago. By the first of the year, marijuana possession will be legal for all adults in 18 states — including Arizona, Colorado, Maine, Michigan, Montana, Nevada, New Jersey, New Mexico, Oregon, and Virginia –— that make up 44 percent of the national population. That number has recently been growing: The governors of New Mexico and Virginia signed their legalization laws just this year.
420 Intel – Marijuana Industry News, 01/09/2022 19:00:00
Oklahoma Activists File New Marijuana Legalization Ballot Initiative For 2022 With National Group’s Support
Oklahoma marijuana activists on Tuesday filed another marijuana legalization initiative that they hope to place before voters on the 2022 ballot. The campaign is being supported by the national New Approach PAC, which has been behind a number of successful state-level reform initiatives. A separate group of local activists also filed initiatives to legalize recreational marijuana and remodel the state’s existing medical cannabis program in October—and members of that campaign are already criticizing the new push. This latest measure would allow adults 21 and older to purchase and possess up to one ounce of cannabis, grow up to six mature plants and six seedlings for personal use. The current Oklahoma Medical Marijuana Authority would be responsible for regulating the program and issuing cannabis business licenses. A 15 percent excise tax would be imposed on adult-use marijuana products, with revenue going to an “Oklahoma Marijuana Revenue Trust Fund.”
Kyle Jaeger, Marijuana Moment, 01/05/2022 12:27:00
Connecticut Marijuana Business License Applications Will Be Accepted Starting Next Month, Officials Announce
Connecticut regulators announced on Tuesday that they will start accepting certain marijuana business license applications at the beginning of next month. The news follows a meeting of the state’s Social Equity Council (SEC), where members approved a technical assistance plan for the cannabis industry that will involve outreach and providing resources to people interested in participating in the market. That plan’s finalization was a necessary condition to trigger the start of the licensing process under the legalization law signed by Gov. Ned Lamont (D) last year. The decision means that the state Department of Consumer Protection (DCP) will soon be able to accept cannabis business applications, though the timeline for each type of licensee varies. There will be two separate lotteries: a general lottery and a social equity lottery. The first applications will open for social equity applicants on February 3 and last 90 days. SEC will ensure that those selected through that lottery meet the right standards, which means there must be at least 65 percent ownership or control of the business by people who “meet the income and residency requirements for a social equity applicant outlined in the law,” DCP said in a press release. People who fall under the “Disproportionately Impacted Areas” category can also pay a $3 million fee to get a cultivator license without going through the lottery. For those in the general lottery category—which involves licensing for retailers, micro-cultivators, delivery services, transporters, and more—there will also be a 90-day application period starting at different times from February 3 through March 24. Regulators say there will likely be a second lottery period for most license types in the second half of 2022.
Kyle Jaeger, Marijuana Moment, 01/05/2022 08:43:00
Top Kansas Democrats Unveil Plan To Put Medical And Adult-Use Marijuana Legalization On The 2022 Ballot
Kansas Democratic leaders on Thursday announced that they will be introducing proposals to let voters decide on legalizing medical and adult-use marijuana in the state. House Minority Leader Tom Sawyer (D) and Assistant Minority Leader Jason Probst (D) held a briefing on the plans, emphasizing that constituents are eager for the reform and so the proposed constitutional amendments would let them decide since the GOP-controlled legislature has failed to act. The Kansas officials noted the similarity between their new plan and one unveiled by Iowa Democrats this week that would also refer marijuana to voters. There are also several other states where lawmakers are pushing to put cannabis measures on the ballot. Sawyer said that while Republicans have had “very little interest in passing any sort of marijuana reform” through the traditional legislative process, he’s hopeful they will at least pass the measures to give voters a say in November.
Kyle Jaeger, Marijuana Moment, 01/06/2022 14:16:00
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Mississippi Cannabis Trade Association Holds Petition Drives for Special Elections on Medical Cannabis
The Mississippi Cannabis Trade Association is trying to ensure medical cannabis access for all those who need it—even patients in cities that have opted out of the state’s medical cannabis program. The industry group is holding signature drives in local...
CDC Dishes Out Workplace Cannabis Policy Advice to Companies That Hire Drivers
Cannabis companies that hire drivers to work for them—such as delivery services and goods transporters—are being advised by the Centers for Disease Control and Prevention (CDC) to establish certain policies that can mitigate the risk of impaired driving, all the while...
Don’t Expect More Cannabis Funds, Says Portfolio Manager
A portfolio manager doesn’t expect to see additional marijuana-centered funds due to lack of demand. Nawan Butt, portfolio manager with Purpose Investment, told the Investing News Network (INN) despite the success of managed funds with a direct focal point in pot...
Cannabis ETFs Evolve but Don’t Yet Excel
The first cannabis exchange-traded fund (ETF) launched in 2017, and we have been following the developments closely since then. Today, we are tracking 11 ETFs. We recently shared a review of these funds with subscribers to our premium cannabis due diligence service...
Cannabis Compliance Board to discuss marijuana consumption lounge rules
The Nevada Cannabis Compliance Board will be working on rules surrounding marijuana consumption lounges. The next public workshop is set to take place Tuesday at 1 p.m., and the board said the first lounge could open as soon as the fall. Some dispensaries like Planet...
Global Cannabis Pharmaceuticals Market Research Report 2022 – ResearchAndMarkets.com
The Global Cannabis Pharmaceuticals Market size was estimated at USD 872.57 million in 2020, is expected to reach USD 1,031.56 million in 2021, and is projected to grow at a CAGR of 18.58% to reach USD 2,877.64 million by 2027. In this report, the years 2018 and 2019...
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