Marijuana Business News

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Wed
26
Jan

WA weed industry should be safe, equitable. To do it, modernize Liquor and Cannabis Board

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Ten years ago, Washington voters created the first legal adult-use cannabis industry in the country.

That industry drives billions in revenue to the state and provides 18,360 jobs statewide. But as we look at the last decade in preparation for the next, we are concerned Washington is losing its head-start advantage. It’s time to course correct, and we count on all industry stakeholders to work toward a common goal: a safe, equitable, quality-controlled and fully regulated market for cannabis.

Too many license-holders have been cut off early — some well before they even got started — and the agency holding the axe is the Washington State Liquor and Cannabis Board (LCB). In 2012, the world changed almost overnight for the LCB.

Wed
26
Jan

Idaho was the 50th state to legalize industrial hemp. Now eight farmers are ready to produce it.

farming

Amid years of historic drought and a push for more sustainable resources to lower carbon emissions, industrial hemp legalization may have come along at just the right time for Idaho agriculture.

Hemp is believed to be one of the earliest cultivated crops in modern human history, but it only became legal to grow in Idaho last year. Farmers are beginning to receive licenses from the state to produce and handle the crop during this growing season for commodities such as insulation, paper, oil and food products.

Wed
26
Jan

Amazon supports GOP’s marijuana legalization bill

amazon phone

Amazon, Inc. announced its support on Tuesday for a Republican-backed congressional bill that would decriminalize cannabis at the federal level and let states decide how and whether to ban or regulate it. Congresswoman Nancy Mace’s (R-SC) State Reform Act, released in November, would remove cannabis as a Federal Schedule I substance and introduce a new 3% federal tax on that substance. It was the first bill issued from the Republicans and it created quite a stir at the time.

Wed
26
Jan

Delta-8 THC is legal in Texas… for now

delta-8

 

The legal status of Delta-8 THC, the popular cannabis derivative sold in smoke shops and CBD stores all over Texas, has been on a rollercoaster over the last few months.

As of now, though, it's legal. Delta-8 is the milder cousin of definitely-illegal-in-Texas weed. It's consumed mostly in the form of edibles and vape cartridges.

Why it matters

If Delta-8 THC is criminalized, countless Texans could face felony charges, jail time and fines up to $10,000 for selling or possessing a product that consumers believe is legal.

Tue
25
Jan

Delta 8 THC: Relief from pain and anxiety or a legal way to get high?

woman happy

Products ranging from tinctures to gummy bears containing a hemp byproduct with euphoric THC effects are legal and for sale all around Indiana, where the purchase and use of traditional marijuana violates the law.

Delta 8 THC products abound, available at CBD stores, smoking supply shops and even gas stations. While some states regulate or ban the sale of delta 8 tetrahydrocannabinol, Indiana is one of 30, from Maine to Wyoming, that has no limitations on the hemp-derived compound.

A federal law that prohibits what's called delta 9 THC leaves the less-potent delta 8 unregulated. The 2018 American Farm Bill that legalized hemp defines it as a cannabis plant that contains 0.3% or less delta-9 THC. It doesn't mention delta 8, which is less potent.

Tue
25
Jan

Actress Mercedes C. Young grows successful cannabis business

Mercedes C. Young

 

Mercedes C. Young is an entrepreneur in every sense of the word. She holds the titles of actress, television writer and producer, children’s book author, and serial entrepreneur. While writing a book, acting in roles, and producing, she started a cannabis company, Earth’s Dew, during the pandemic. Earth’s Dew products are made with all-natural, organic butter and oils.

Tue
25
Jan

Recreational marijuana sales were over half a billion dollars in 2021

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New data from the Arizona Dept. of Revenue shows that one year after recreational marijuana use became legal in the state, its generated over $44 million in tax revenue.

Tue
25
Jan

What's the state of cannabis in the Empire State?

NYC

A candid conversation with a local cannabis consultant about what's going on in New York.

The race for New York has begun. All types of entrepreneurs looking to enter the state's cannabis marketplace are busy preparing for the soon-to-be-released application process. Hemp farmers are poised to switch to marijuana crops, legacy entrepreneurs are operating in the open, regulators are shaping the laws, and no one is excited about opening the borders.

I spoke to Kalean Castetter, a long-time upstate resident, son of a legacy grower, owner of a hemp-infused wine company, and now cannabis consultant, to get his insights into how things are shaping up in New York.

Mon
24
Jan

What weed tourism looks like in 2022 and beyond

tourist

Whether it’s a new market, or an old one continuing to push its limits with recreational marijuana, weed tourism does not plan to slow down any time soon.

As leisure travel continues to recover and countries lift their travel bans and COVID-19 restrictions one by one, many tourist destinations are eagerly awaiting new visitors. No matter how luxurious or sought after the destination, it seems every locale is eager to find new ways to attract business. 

In 2022, however, there is something new in the air that has begun to inspire a new wave of tourism. One of the latest trending motivators in destination travel is, putting it bluntly, weed.

Mon
24
Jan

3 marijuana stocks to watch before January is over

stocks

Marijuana Stocks To Buy Right Now? 3 To Watch This Week

In recent trading marijuana stocks have been facing a fair amount of pullback. This is not all bad but if you have been investing in cannabis stocks over the last year this is raising more concern. The positive is being able to find top marijuana stocks to buy. Now the obvious downside is the sector once again having trouble with seeing better upward trading. So what are investors and shareholders to do as this uncertainly is still present? It seems that this new year started will great excitement.

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