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Featured Articles
Federal Marijuana Arrests Continue To Drop Amid Legalization Movement, New Justice Department Report Shows
Federal marijuana arrests continue to plummet year over year as more states move to legalize cannabis, new data from the Justice Department shows. While there were still 2,576 Drug Enforcement Administration (DEA) marijuana arrests in fiscal year 2020, cannabis busts...
Marijuana Legalization ‘Drastically Changed’ Cannabis Marketing On Instagram, Study Finds
The marijuana legalization movement has “drastically changed” the social media landscape for cannabis marketing, according to a new research paper that focused on Instagram trends. While male-dominated, anonymous profiles have been a hallmark of illicit markets, that...
Ohio Licensees Look to Experts to Launch on Time
PHOENIX, Ariz. — The Cannabis Business Advisors (“CB Advisors”), a consulting firm specializing in licensing, operations, mergers and acquisitions for the legal cannabis industry, today announced it has secured Ohio preliminary dispensary licenses for local groups. On...
What Early Primary Victories Are Telling Us About Possible Cannabis Reform
There are many more tight races, and several more states whose marijuana legalization may depend on election night outcomes in November. The midterm primary season is officially in full swing. Several major races have already concluded, and there is a lot to unpack...
Rhode Island Poised to Legalize Cannabis
After several years of fits and starts, Rhode Island is finally poised to pass a substantive cannabis legalization bill as soon as next week. An amended version of the previously-proposed cannabis bill is now on the fast track toward passage at the State House. Major...
Cannabis legalization bill reintroduced in S. Australia
Strat Cann report A member of Australia’s Green Party has re-submitted a bill that proposes to legalize and regulate cannabis in South Australia. Cannabis Legalization Bill 2022, introduced in South Australia’s legislative council on May 18, calls for the strict...
Featured Articles
Delaware Governor And Congressional Lawmakers Condemn Drug-Related Search Of Student Athletes
The governor of Delaware and members of the state’s congressional delegation are speaking out after Georgia police pulled over a bus of college lacrosse players over an alleged traffic violation and searched their personal belongings in a fruitless attempt to find marijuana or other illicit drugs. The incident happened as the Delaware State University women’s lacrosse team was making their way back home following a tournament. Students believe the black bus driver and players were racially targeted as officers threatened incarceration if they turned up any illegal narcotics. In the end—even after going through the personal items and bringing a drug-sniffing canine on the bus—police did not find any controlled substances, as student newspaper The Hornet first reported. But advocates say the situation reeks of racial discrimination, with law enforcement using drugs as a pretext for what some are calling an unlawful search without probable cause. As the story has gained national attention, Delaware Gov. John Carney (D), a rare example of a Democratic governor who still opposes cannabis legalization even as lawmakers in his state move to enact the reform, said that the video of the encounter is “upsetting, concerning and disappointing.”
Kyle Jaeger, Marijuana Moment, 05/11/2022 17:11:00
This Federally-licensed Cannabis Company May Begin Trading Tomorrow
According to a recently filed S-1/A, Bright Green Corporation (NASDAQ: BGXX) is one of the few companies that have received conditional approval from the DEA to produce federally legal cannabis for research purposes. The company expects their common stock to begin trading on Nasdaq on or about May 12, 2022. The company notes that: “Unlike state-licensed cannabis companies that engage in commercial sales to consumers, and whose businesses are legal under state law but not federal law, we will operate legally under all applicable laws and be authorized by the federal government to sell cannabis commercially for research and manufacturing purposes, export cannabis for international cannabis research purposes, and sell cannabis to DEA-registered pharmaceutical companies for the production of medical cannabis products and preparations, subject to final registration and licensure with the DEA as set forth in the MOA. We plan to focus on the development of cannabis strains and sales of products with high contents of CBN (cannabinol) and CBG (cannabigerol). If and when permitted under federal law, we also plan to sell cannabis-derived CBN and CBG to consumers.”
New Cannabis Ventures, 05/11/2022 12:04:00
Is German Oversupply Hampering Growth Of Its Medical Cannabis Industry?
Germany is continuing to see cannabis companies from across the globe pile into its medical cannabis market in the hopes of securing their piece of the pie. With limited domestic production capacity and by far the largest medical cannabis patient demographic in Europe, imports to the country have almost doubled every year since the inception of the market in 2017, according to the latest figures from Prohibition Partners European Cannabis Report: 7th Edition. The promise of a potential adult-use market within the next few years has exacerbated the scramble for companies to establish a foothold in the medical market, enabling them to have a headstart when it eventually arrives. Despite this rapid influx of investment and product, German medical cannabis telemedicine operator Nowomed says that supply has now outgrown demand, and product saturation is putting some doctors off prescribing. The German Market The German medical cannabis market is continuing to grow steadily, seeing a 43% increase in sales of cannabis to pharmacies last year. According to data from cannabis-aerzte.de, there are now around 138 strains of medical cannabis available in the country, close to three times the amount available in 2019.
Cannabis Business Executive – Cannabis and Marijuana industry news, 05/12/2022 07:59:00
There is a rapidly expanding, virtually unregulated competitor to medical cannabis in Maryland. It’s called Delta-8.
It’s called Delta-8. Delta-8 is one of more than a hundred closely related compounds found in the cannabis plant called cannabinoids. Its chemical structure is nearly identical to THC, the main psychoactive component in cannabis. Delta-8 is found in small amounts in hemp. It’s legal thanks to a loophole in federal legislation that passed in 2018. And it’s virtually unregulated. As a result, it’s generally cheaper than the cannabis sold at dispensaries. And it’s rapidly grown into an industry that some estimate has $50 million of annual revenue in Maryland — if not more. Critics and users alike are concerned that it could pose a public health risk. More than 20 states have regulated or banned the sale of Delta-8, including Virginia, starting July 1.
Cannabis Business Executive – Cannabis and Marijuana industry news, 05/12/2022 07:44:00
US cannabis market provides greenfield for digital payment startups
Startups worth watching Payment startups are tapping the cannabis industry with solutions aimed at digitizing the historically cash-dependent sector. CanPay. The Colorado-based startup’s app lets customers at more than 800 cannabis dispensaries make Automated Clearing House Payments (ACH) payments by scanning a QR code at checkout. Partner merchants are required to bank with CanPay-approved financial institutions (FI) that are compliant with federal guidelines. SuperNet. Customers can use the fintech card to pay for products at 100 California dispensaries. SuperNet also processes transactions for the dispensaries and offers a loyalty program. POSabit. The Washington-based fintech offers point-of-sale hardware and software for cannabis dispensaries. POSabit recently expanded into several states, including Georgia, Texas, and West Virginia. Why it matters The cannabis market is huge—but federal regulation prevents mainstream FIs from offering payment services to customers and merchants. Legal cannabis sales in the US hit a record $17.5 billion in 2020—a 46% year-over-year (YoY) increase, per data from BDSA cited by Forbes. Overall sales are likely significantly larger if illicit marijuana sales are taken into account.
420 Intel – Marijuana Industry News, 05/11/2022 20:00:00
Detroit’s new recreational cannabis ordinance challenged in lawsuit
VIA The Detroit News a chain of medical marijuana dispensaries filed a lawsuit in Wayne County Circuit Court Wednesday challenging Detroit’s new recreational marijuana ordinance. A provision in the ordinance, which was approved last month by the Detroit City Council, doesn’t allow medical marijuana establishments to be eligible to obtain a recreational license for five years. The lawsuit brought by four House of Dank dispensaries — each operating under a unique name — said that wording violates the state’s 2018 recreational marijuana law. The ordinance, which went into effect April 20, reads: “Commencing on January 1, 2027, any licensees which are holders of one or more licenses to operate a medical marijuana provisioning center in accordance with this article and which have been the holder of such licenses since prior to the effective date of this ordinance, may apply for an adult-use retailer license.” The city’s law department said it had not had a chance to review the complaint and declined to comment Wednesday. House of Dank, which opened a medical dispensary on Eight Mile in 2015, now has four medical dispensaries in Detroit and four recreational dispensaries elsewhere in Michigan.
Cannabis Law Report, 05/12/2022 01:36:00
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North Dakota group gathers signatures in attempt to get recreational marijuana on 2022 ballot
The legalization of recreational marijuana may end up on the November ballot after the petition format was approved late last month. Now, the sponsoring group is gathering signatures. For years, North Dakotans have considered the issue of legalizing recreational...
Lawmaker’s sick day causes recreational marijuana bill to fail by 1 vote in Delaware House
The pursuit to create a recreational marijuana industry in Delaware hit a bump on Thursday, as a bill seeking to regulate the growing and selling of weed failed in the House by one vote. Rep. Larry Mitchell, House majority whip, was ill and could not vote, said House...
Marijuana slowly becoming New England’s newest cash crop
With adult-use marijuana sales eclipsing $3 billion in Massachusetts, other New England states are now entering the recreational marijuana industry. Voters in Massachusetts legalized marijuana in 2016 and sales began in 2018, the state’s Cannabis Control Commission...
VA Rejects Veteran’s Hemp Business Certification, Saying It Could Create ‘Appearance’ Of Endorsing Marijuana
The U.S. Department of Veterans Affairs (VA) has rejected a veteran’s application for recognition of his hemp products company, writing in a denial letter this week that the business’s involvement in “products derived from the same genus of plant (cannabis) as...
FDA Head Admits Agency Has Been Slow To Regulate CBD, But Suggests Congress Needs To Do More
Speaking to a congressional panel on Thursday, the head of the Food and Drug Administration (FDA) acknowledged that his agency has taken little regulatory action on CBD products in recent years despite the federal legalization of hemp and its derivatives. “It looks...
Delaware House Rejects Marijuana Sales Legalization Bill As Separate Possession Measure Awaits Governor’s Action
The Delaware House of Representatives on Thursday rejected a bill to legalize and regulate marijuana sales, even though it got a majority of votes in support. The move comes one week after lawmakers sent the governor separate legislation to simply legalize cannabis...
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