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Featured Articles
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...
Featured Articles
NORML’s Federal Marijuana Lobbyist Departs After Five Years Advancing Reform On Capitol Hill
When it comes to advocating for marijuana reform on Capitol Hill, Justin Strekal of NORML is one of the most widely recognized faces of the movement, putting in the hours to champion the cause of cannabis consumers and convince lawmakers to get on board. But after five years, the chapter of his career as NORML’s political director has come to a close. While he will continue to work to advance the cause in a different capacity, NORML will be getting a new lobbyist to fight for an end to federal cannabis prohibition in Congress. Paradoxically, Strekal personally thinks that professional lobbying should be abolished. But in his years as the federal lobbyist for NORML, he’s demonstrated how having a voice directly whispering—and, occasionally, shouting—in the ears of policymakers and their staff can help affect real change. “I took the responsibility of being the federal lobbyist and political director for NORML incredibly seriously as a way to harness the decades and decades of organizing that has been done by activists in as pointed and tenacious a way as possible to translate that into federal policy reform,” Strekal told Marijuana Moment.
Kyle Jaeger, Marijuana Moment, 01/06/2022 09:06:00
Controlled New Hampshire House Votes To Legalize Marijuana Possession And Cultivation
The GOP-controlled New Hampshire House of Representatives on Thursday approved a bill to legalize marijuana possession and personal cultivation for adults. Members passed the legislation, sponsored by Rep. Carol McGuire (R), in a 241-113 vote. This comes one day after the chamber narrowly rejected a separate, broader legalization proposal that would have regulated commercial production and sales. The approved measure that is now advancing to the Senate will not allow cannabis commerce, but adults 21 and older would be allowed to possess and give away up to three-fourths of an ounce of marijuana and grow up to six plants, three of which could be mature. The bill is virtually identical to an earlier version that also passed the House under Democratic control in 2020. The previous bill died in the Senate committee. “It is not—and never has been—the job of government to try to protect you from hurting yourself,” Rep. Max Abramson (R) said ahead of Thursday’s vote. “And outside of the 1950s B horror movies, it has never been the job of government to protect you from a plant.” Under the measure, there are penalties for public consumption, violating restrictions on home cultivation such as by growing in a publicly visible space and extracting cannabis in a dangerous manner. “This is truly a bipartisan issue with strong and wide support from Granite Staters,” Rep. Mark Warden (R) said. “The war on cannabis is a war on people. Those people are our neighbors and our constituents.” New Hampshire lawmakers have had their pick of marijuana reform legislation, with at least six new cannabis legalization proposals having been recently filed for the 2022 session. On Wednesday, the chamber defeated one bill that would have established a retail market for adult-use cannabis.
Kyle Jaeger, Marijuana Moment, 01/06/2022 11:17:00
How Accessibility Is Destroying The Legal Marijuana Industry In America
Interesting story out of California last week where the marijuana industry is sending an SOS letter to the state government saying their legal industry is on the verge of collapse. The gist of the story is that higher taxes, not enough locations, too many fees, and too many consumers going to the illicit market are causing a financial firestorm for legal marijuana businesses. The most striking line of the article out there is that 73% of cannabis transactions occur on the illicit market in California, and not the licensed, legal one. This is bad for legal businesses. No taxes are paid on illegal sales, no revenue is created to pay for those state marijuana licenses, no 280E tax code relief, and a whole lot of fees for software, banking, and technology. The state has pledged $100 million to help figure out the legal cannabis industry. But that just tells half the story of why the cannabis industry may have just hit its first maturity point as an industry as a whole. For consumers it was never about legalization; it was about accessibility.
Terry Hacienda, The Fresh Toast, 01/05/2022 13:13:00
New York Gov. Kathy Hochul: $200 Million Cannabis Equity Fund Will “Create Opportunities”
As state regulators gear up to launch what will be one of the country’s biggest legal cannabis markets, New York Gov. Kathy Hochul put equity in the spotlight with a new $200 million fund. In her State of the State speech on Wednesday, Hochul outlined sweeping budget priorities from climate action to education. While neither cannabis or hemp came up during Hochul’s speech, Hochul included in her far-reaching budget plan a $200 million public-private equity fund to “promote equity and economic justice in New York’s cannabis industry.” The seed money will come from licensing fees and tax revenue, according to the State of the State book, and the fund will also “leverage significant private investment.” While estimates vary, New York’s cannabis industry is expected to top $4 billion. Access to capital is a major hurdle for many cannabis industry hopefuls, especially those who seek to qualify as equity applicants. The state defines equity applicants a bit differently than other states by including distressed farmers and women and veteran-owned businesses, for example, along with applicants that come from communities affected by disproportionate enforcement of cannabis laws.
Alyson Martin, Cannabis Wire, 01/04/2022 19:00:00
Is Big Pharma Weed Coming With Pfizer’s Recent Purchase?
Pfizer wants in on the cannabis game. Will you be buying Pharma Weed? Most consumers say absolutely not. You may not have heard the wonderful news. Our great overlords and global saviors at Pfizer announced their intentions to get into the medical cannabis market via their $6.7 billion acquisition of Arena Pharmaceuticals Inc. Of course, the giant pharmaceutical company has a lot of “expendable cash” available due to the pandemic. However, the news of Pfizer wanting to break into the medical cannabis industry isn’t something new. Every advocate understood that once cannabis is legalized globally, these giant pharmaceutical companies would definitely make their claim to some portion of the marketplace. Whether this is a “good” thing or a “bad” thing is irrelevant; the truth of the matter is that pharma entering into the cannabis industry is an inevitability. Putting my personal prejudices aside for a moment, along with some of the more atrocious historical facts of the company, perhaps this could be the dawn of the next wave of cannabinoid medicines. While some might cringe at the idea of pharma handling this sacred plant, cannabinoid-based medicines will evolve into more standardized packaging. It will eventually become dose-specific and potentially a robust cannabinoid treatment protocol for a large group of conditions. For that to happen, pharma has to dig their money-hungry hands into the market and begin to do some R&D. In the case of their recent acquisition, we can already see that they are targeting specific conditions and will be creating a medication instead of trying to sell tinctures, whole plant, etc.
420 Intel – Marijuana Industry News, 01/05/2022 19:00:00
$200M Cannabis and Marijuana Lending Fund Established by the StandardC Network
StandardC, a leader in cannabis & marijuana banking and financial services, announced today that its lending partner had closed the first $5 million loan from their newly established $200M fund for a leading marijuana cultivator using the StandardC platform. This partner has extensive experience in the cannabis lending industry, facilitating real estate loans and deploying growth capital for companies like Harborside, Caliva, and other multi-state operators (MSOs). While most lenders have been reticent to serve the state-licensed cannabis industry, StandardC’s lending network has broken new ground to offer cost-effective financing. These new credit facilities have expanded the capacity of the StandardC network, which can now provide enhanced banking services to over 1,500 cannabis and marijuana businesses through its network. Robert Mann, CEO of StandardC, was quoted as saying, “For too long, the cannabis industry has been unable to obtain loans and lines of credit without paying a ‘Cannabis Tax’ where lenders charge exorbitant interest and fees. Our network is enabling a consortium of lenders that can offer cost-effective real estate loans, lines of credit, and more.” Robert Baron, CXO of StandardC, commented, “While it was previously thought that lending for the state-licensed cannabis industry carried far too much inherent risk, StandardC’s proprietary pre-qualification and monitoring technology helps lenders ensure that the cannabis businesses are operating in compliance with state law and federal banking guidelines, thus providing that lender with greater assurance on the security of its loans and lines of credit for marijuana-related businesses.”
420 Intel – Marijuana Industry News, 01/04/2022 19:00:00
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South Dakota: Governor Signs Legislation Preserving Patients’ Home Cultivation Rights
Republican Gov. Kristi Noem has signed legislation (SB 24) into law preserving the ability of qualified patients to home cultivate limited quantities of cannabis. Voters in November 2020 overwhelmingly decided in favor of a ballot measure (Measure 26) permitting...
How Does The Ukrainian War Effect Cannabis Prices In Europe?
The ongoing situation in Ukraine has been described as the largest ground war within Europe since the Second World War ended. Many industries are being affected, including the budding cannabis industry. This article originally appeared on Cannabis.net and has been...
GOP Congressman Who Fought For Marijuana Legalization Dies, And Is Honored By Bipartisan Colleagues
Rep. Don Young (R-AK)—a rare example of a pro-legalization Republican congressman, who was one of just five GOP members of the House of Representatives to vote in favor of a bill to end marijuana prohibition—died on Friday. As the longest-serving member of the...
Will Mexico Drop Hemp from the Cannabis Law Bill?
Unfortunately, it looks like Mexico may leave hemp out of the cannabis law bill. That is right folks, after much discussion, lobbying and attempts to educate the government on cannabis legalization in Mexico (yes, we have also made our small contributions), the...
Pa. Senate panel exploring recreational cannabis legalization criticized for not hearing both sides
A state Senate panel that took the unprecedented step in Pennsylvania of exploring the issue of legalizing recreational marijuana wrapped up its series of hearings last week amid complaints that it heard only one side of the issue. Sen. Judy Ward, R-Blair, said the...
Kentucky marijuana legalization bill heads to Senate after House vote
Whole-plant products would be allowed under the measure, but patients would be required to vape them. A bill to legalize medical marijuana is headed to the Kentucky Senate, after the House of Representatives passed it on Thursday, Marijuana Moment reported. Sponsored...
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