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Featured Articles
New Hampshire House Votes To Give Senate ‘Another Chance’ At Passing Marijuana Legalization
The New Hampshire House of Representatives isn’t giving up on marijuana legalization just yet, with members taking a new approach to reform after the Senate defeated two cannabis bills last week. While the Senate voted against separate proposals to legalize marijuana...
Why Are So Many Cannabis Businesses Losing Money Hand Over Fist?
Despite all the hardships that come with being in the cannabis business, it hasn’t stopped many from starting their own with the hopes that one day soon, cannabis will finally be federally legal. This article originally appeared on Cannabis.net and has been reposted...
New York Cannabis Regulators Approve 36 New Grow Licenses
The list of hemp farmers approved to cash in on New York’s forthcoming adult-use cannabis market grew by 36 on April 5. The state’s Cannabis Control Board (CCB) members voted in favor of issuing the conditional adult-use cannabis cultivation licenses for the list...
A Medical Cannabis Market Emerges: Mississippi Prepares for Business License Applications This Summer
After Mississippi Gov. Tate Reeves signed a bill to legalize medical cannabis in the state in February, agencies like the Department of Health and the Department of Revenue began writing regulations for the marketplace that will materialize later this year. Not every...
MariMed Completes Two Acquisitions in Maryland and Illinois
Multistate operator MariMed recently locked down two new acquisitions: Kind Therapeutics, in Maryland, and Green Growth, in Illinois. Multistate operator MariMed recently locked down two new acquisitions: Kind Therapeutics, in Maryland, and Green Growth, in Illinois....
Australia’s Little Green Pharma Inks UK Medical Cannabis Deal
Little Green Pharma Ltd announced on Monday it had entered into a medicinal cannabis distribution agreement with Sana Life Sciences. Under the Agreement, the parties grant each other mutual exclusivity across the UK and Crown Dependencies for the supply or...
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These 8 States Sold $12.8 Billion of Adult-Use Cannabis in 2021
Colorado’s per-capita sales estimate of $429 for its 21-and-older population topped the chart. Far fewer states have launched commercial adult-use cannabis sales than medical cannabis sales, but those that have made the recreational jump are raking in the dough. In 2021, there were 11 states with fully operational adult-use retail programs, and those programs were responsible for more than half of all legal cannabis sales in the U.S. Overall, legal adult-use and medical cannabis sales combined for $24 billion in the U.S. last year, according to BDSA’s rolling market forecast from March. Specifically, eight of those states tracked adult-use sales figures separately from medical sales: Arizona, California, Colorado, Illinois, Maine, Massachusetts, Michigan and Oregon. That octet accounted for more than $12.8 billion in adult-use sales in 2021, according to data collected by Cannabis Business Times.
Posted Cbt Staff, Cannabis Business Times, 04/04/2022 07:18:00
This marijuana stock has beaten Apple, Twilio, Netflix and Bank of America
Those investors who chose the specialized real-estate investment trust Power REIT to add to their portfolios some five years ago are now enjoying their high returns. Despite COVID-19’s negative effect on the overall economy over the past two years, industries, like pharma, e-commerce and online gaming thrived. The cannabis industry also experienced unexpected growth, with some weed-related stocks continuing to see gains. (Benzinga) Over the last five years, Power REIT’s stock has outperformed some of the most popular stocks in the world, such as Apple, Twilio, Netflix and Bank of America. Even though Power REIT is not considered a pure-play stock, its relation to the cannabis industry is straightforward – it has a real estate portfolio of controlled environment agriculture (CEA) greenhouse properties for medical cannabis cultivation. The trust is mainly concentrated on sustainable real estate with attractive risk-adjusted returns. In addition to controlled environment agriculture, Power REIT also covers solar farmland and railroad sectors. Its CEA properties are leased to tenants that are licensed for the production of medical marijuana at the facilities. Last year, Power REIT, which is headquartered in Old Bethpage, NY, announced an $18.5 million greenhouse acquisition to reach the booming Michigan cannabis market.
420 Intel – Marijuana Industry News, 04/03/2022 20:00:00
New Hampshire House Approves Legislation to Legalize Adult-Use Cannabis
The New Hampshire House is once again considering adult-use cannabis legalization and, this time, lawmakers want to allow state-run liquor stores to serve the market. House Bill 1598, sponsored by Rep. Daryl Abbas, R-Salem, would allow liquor stores to sell cannabis flower, but not other products, such as THC-infused edibles, according to a WCAX report. “I think the state in the next couple of years will realize that we can’t miss out on this market,” Rep. Tim Egan, D-Sugar Hill, told the news outlet, adding, “It’s a different model. It is sort of the first step.” H.B. 1598 would authorize the New Hampshire Liquor Commission to regulate and oversee the cultivation, manufacturing, testing, and sale of adult-use cannabis to adults 21 and older, according to the Concord Monitor. The legislation would allow municipalities to limit or prohibit adult-use cannabis businesses within their jurisdictions, the news outlet reported. The bill would direct 50% of the tax revenue generated from adult-use sales to offset municipalities’ contributions to the statewide education property tax, while 30% would help pay off the state’s retirement system debt, 10% would go to drug and alcohol treatment programs, and the rest of the funds would be funneled to first responders and behavioral health programs, according to the Concord Monitor.
Posted Cbt Staff, Cannabis Business Times, 04/04/2022 11:18:00
Indiana Drops THC-Crackdown Bill
Indiana’s Senate Bill 209 died in the 2022 legislative session because of worries that the bill’s language would go as far as to outlaw CBD oil. Republicans proposed the bill to the General Assembly which sought to change the definitions of drug schedules in Indiana by altering “delta-9 THC” in Indiana law to simply say “THC,” thus removing the legal grey area that allows delta-8 products, also known as “weed light” to some in the industry, to be sold by CBD retailers across Indiana. If the bill passed, individual hemp farmers and retailers risked losing $1 million dollars in business. From a federal standpoint, delta-8 is legal if it’s derived naturally from hemp plants. However, in 2021, the FDA announced warnings about the potential health risks of delta-8 products. “The CDC states that the health effects of delta-8 THC have not yet been researched extensively and are not well-understood,” the statement says. “However, delta-8 THC is psychoactive and may have similar risks of impairment as delta-9 THC.” The CDC also cites other warnings including mislabeled products that don’t appropriately advertise the psychoactive effects of delta-8, an increase in calls to the center of poison control after taking delta-8 products, risks of contamination during manufacturing, and marketing that appeals to children.
Allison Troutner, Cannabis Business Times, 04/04/2022 13:47:00
Open article: http://www.cannabisbusinesstimes.com/article/indiana-lawmakers-drop-thc-ban-bill
House Approves Federal Marijuana Legalization Bill For Second Time In History
The U.S. House of Representatives on Friday approved a bill to federally legalize marijuana for the second time in history, also adopting a pair of amendments to the legislation before final passage. Following an hour of debate on the Marijuana Opportunity, Reinvestment and Expungement (MORE) Act from House Judiciary Chairman Jerrold Nadler (D-NY)—and the approval of two amendments and the rejection of a third—the full chamber voted 220-204 to end federal cannabis prohibition and promote social equity in the industry. The vote fell largely along party lines with only three Republicans supporting the measure and two Democrats opposing it. A nearly identical version of the MORE Act passed in 2020, but it stalled in the Senate. It passed through the sponsor’s panel again this session in September. Nadler opened Friday’s floor debate, calling the MORE Act “long overdue legislation that would reverse decades of failed federal policies based on the criminalization of marijuana.”
Kyle Jaeger, Marijuana Moment, 04/01/2022 09:18:00
New Hampshire House Approves State-Run Marijuana Legalization Bill And Rejects Psilocybin Decriminalization Measure
The New Hampshire House on Thursday approved a bill to legalize marijuana through a state-run model—but the chamber tabled a separate bill that would have decriminalized possession of psilocybin mushrooms. This is the second time that the House has taken up the state-run cannabis legalization bill, HB 1598, sponsored by Rep. Darryl Abbas (R). It passed on the floor last month but needed to go back to the Ways & Means Committee because it involved economic components. That panel met several times and made amendments, sending it back to the floor, where the full-body passed it again in a 169-156 vote. It now heads to the Senate. “The primary objective of this bill is the policy of legalization of cannabis for both possession and personal use and was passed by the House earlier this session,” Rep. Timothy Lang (R) said in a statement included in the House calendar. “This bill accomplishes that primary objective, so New Hampshire will no longer arrest and prosecute New Hampshire citizens for possession of personal use quantities of cannabis.”
Kyle Jaeger, Marijuana Moment, 03/31/2022 17:38:00
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GOP Congressman Requests Hearing On FDA’s Failure To Set CBD And Delta-8 THC Regulations
The top Republican on a key congressional committee is calling on leadership to schedule a hearing to hold the Food and Drug Administration (FDA) accountable for its lack of action to set regulations for CBD and delta-8 THC products. Rep. James Comer (R-KY), ranking...
Delaware Lawmakers Approve Marijuana Legalization Bill In Committee Again Following Procedural Misstep
A Delaware House committee on Tuesday approved a bill to legalize marijuana for a second time following a procedural mishap that inadvertently prevented public testimony on the proposal at an earlier meeting. Rep. Ed Osienski (D) is sponsoring the legislation to...
South Carolina Medical Marijuana Bill Dies On House Floor Following Procedural Challenge
A bill to legalize medical marijuana in South Carolina died on the House floor on Wednesday following a nuanced debate over the constitutionality of the legislative process that the measure has moved through—before any discussion of the merits of the bill itself could...
Marijuana legalization fizzles in Missouri House as initiative petition heads toward ballot
The backer of a plan to fully legalize marijuana in Missouri said “I’m pretty sure the bill is dead” on Wednesday as the legislative session moved closer to its final week. Rep. Ron Hicks, R-Defiance, said GOP leadership gauged caucus support, which “came back, light,...
South Dakota will vote again to legalize weed this November
It’s déjà vu all over again for the South Dakota cannabis legalization movement. Yesterday, May 3, South Dakotans for Better Marijuana Laws (SDBML) turned in over 19,000 signatures to put recreational cannabis on the state ballot…again.In a remarkable turn of events,...
Bankers’ Groups from All 50 States Urge Senate to Enact Cannabis Banking Reform
Last week, a group of banking associations from all 50 United States wrote a letter to the U.S. Senate urging the legislative body to include cannabis banking language in the final text of a manufacturing bill for which a bicameral conference is being organized. The...
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